Nearly 24 hours after the Kodak KashMiner scam collapsed, it is not yet clear how much investors would have lost to the scheme.
It came as a rude shock to many people in the cryptocurrency community that the much publicised Kodak KashMiner, a scheme that linked itself with Kodak went up in smoke even before the miners made it out to the public.
According to the promotional messages shared at CES, the miners were to yield about $9,000 to every investor within two years and buyers would have to pay 30% of that amount as an order fee in advance.
To the amazement of many, brand licensee for Kodak LED lighting products known as Spotlite USA who branded the Kodak KashMiner announced made a u-turn.
Quoting the BBC, Coindesk said Spotlite’s CEO, Halston Mikail retorted that the project never got off the ground in the first place.
Mikail told the news service:
“While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.”
As to how much was lost to the Kodak KashMiner, no one knows. It is not yet clear if the US Securities and Exchange Commission would confiscate all the order revenues and return to investors.