Sina Estavi, the Iran-born famous for purchasing Jack Dorsey’s non-fungible token (NFT) first-ever tweet, is making a return after two unsuccessful cryptocurrency enterprises and almost a year in prison. Now he is appealing for trust to the same investors.
Estavi’s CryptoLand exchange collapsed following his arrest in Iran in May 2021 on allegations of “disrupting the economic system,” preventing users from accessing their monies, and the price of his Bridge Oracle project’s BRG token plummeted.
Attempt to make amends
Now that he has been released from prison, the crypto entrepreneur says he is attempting to make amends with holders of the nearly worthless tokens launched on the Tron network.
Estavi announced last week that holders of their tokens may exchange them for a new version of BRG that runs on the Binance Smart Chain. Unlike its namesake, the new BRG may be purchased on a variety of exchanges.
But in order to authenticate their ownership, he needs the initial BRG investors to provide him their phone numbers and some TRX tokens (the Tron network’s native currency). He states that he would send them their replacement tokens, as well as the TRX tokens that were provided for verification, within a month or two.
In an interview, Estavi said that he wants the global crypto community to still back him and the entire community so that the community and him will remain to be powerful and may advance the blockchain.
Investors’ reservations
Numerous Bridge Oracle investors expressed reservations for a variety of reasons. For one instance, Estavi created and marketed the new cryptocurrency prior to reimbursing investors in the previous one.
A certain “Mohamad”, a Bridge Oracle holder, stated that Estavi did not trade a single bridge and immediately began (listing fresh BRG) on various exchanges.
Another reason investors are concerned is that Estavi did not offer clear facts about the proposed exchange until he was barraged with inquiries about it.