Allegedly, the helm of the company behind Greece’s first cryptocurrency caused the token price to fall after his disappearance this month. The executive concealed it for about two weeks before finally telling the media that he would be back soon and denying allegations that he had disrupted the cryptocurrency market.

As cryptocurrency investors worry about the whereabouts of coin creators, Greek coins plummet

Vangelis Tsapas, a man with various business interests and a sponsor of a Greek basketball team, created a cryptocurrency when he suddenly disappeared in early November, which disturbed investors. The price of Greek coins (Hanover) From more than $1.20 on November 8th to less than $0.34 at the time of writing. That was after reaching a record high of $4.84 on June 14, 2021.

There is speculation that Tsapas sold his HNC collection, causing the stock price to plummet, but he denied the allegation. Before his recent resignation, the entrepreneur was the CEO of HNC Revolution, which managed tokens initiated by a group of people. Blockchain The business news portal Newmoney.gr recalled that the developers and financial experts were called “the first Greek cryptocurrency” in 2015. It was seen as an investment tool and payment tool, aimed at facilitating digital transactions in the Greek tourism industry, and it has since been purchased by people from all over the world.

While causing concerns for the holders of HNC Coin, his disappearance also shocked the players and other staff of Ionikos Nikaias BC because he has been supporting the club financially. According to reports, Tsapas is also involved in the catering and shipping industries and also angered the Prime Minister of Qatar because his company was hired to manage the superyacht Al Mirqab of Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani, but failed to pay the crew.

Although HNC Coin apparently began to depreciate after Mr. Tsapas stopped answering the phone, he recently denied allegations that he depreciated due to the sale of tokens. This week, the “ghost” businessman insisted in an interview with Thema newspaper that he actually gave away Greek cryptocurrency for free, blamed the “noise” on his close partners, and announced that he would resume his business soon Responsibilities. Claiming that media reports were responsible for the price collapse, he insisted that his absence had no effect and stated:

It is falling, yes, of course I am not involved in it. Because I have never sold a cryptocurrency. I don’t have any, because I transferred everything for free last Friday, because I have the right and didn’t take one euro.

Tsapas added that he is negotiating with a new management team to ensure the viability of cryptocurrency. At the same time, the current leadership of HNC Coin refuted him and informed the public that he would no longer lead the project. A published statement emphasized that after the recent incident, Tsapas will no longer serve as CEO and will not participate in decisions regarding the operation and development of cryptocurrencies.

In an interview with Thema, with the intention of “recovering the truth”, Vangelis Tsapas cited “serious health reasons” for temporarily leaving Athens and the public eye, but he also stated that he had taken steps on the advice of his lawyer. “By the way, I was not summoned by the prosecutor for any reason,” Chapas pointed out. The publication pointed out that the Greek law enforcement authorities have been carefully monitoring the development of the case.

What do you think of the fate of Greece’s first cryptocurrency and its creator? Tell us in the comments section below.

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