Farst Coin was a cryptocurrency launched on December 13th, 2017 right at the peak of the ICO craze that occurred in 2017. The ICO involved a decent amount of skepticism as the project looked rather suspicious.
In this case, the skeptics were right – Farst Coin was a farce. This article will cover what happened to this token.
What was Farst Coin?
Farst Coin was a cryptocurrency that purportedly wanted to speed up transactions in the financial industry by utilizing blockchain technology. However, the entire project was very vaguely defined with anonymous founders.
That is a huge red flag for any cryptocurrency, which is why many were skeptical of the project.
What Happened to Farst Coin?
Well, the skeptics were right about Farst Coin. Almost immediately after the ICO the social media accounts for the project were closed and the founders disappeared while leaving investors holding a bunch of worthless Farst Coins.
As mentioned previously, this coin was quite obviously a scam from the start with anonymous founders and an extremely vague whitepaper that amounted to writing, “We’ll make financial transaction speeds faster – send us Bitcoin or Ethereum.”
Is Farst Coin Worth Anything in 2021?
Farst Coin has been worthless since the founders ran off with investors’ Bitcoin and Ethereum in 2018. If you have any Farst Coin, then it’s a good reminder not to invest cryptocurrency projects that you have not properly vetted.
To summarize, Farst Coin was nothing more than an ICO scamcoin launched at the peak of the ICO mania in 2017. The founders of the project had no intention of doing anything other than doing the exit scam they did.
2017 was rife with this chicanery, too. Fortunately, investors have learned the tricks and ICO exit scams are much less common these days.