{"id":18044,"date":"2025-03-19T11:32:05","date_gmt":"2025-03-19T11:32:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18044"},"modified":"2025-03-19T11:32:05","modified_gmt":"2025-03-19T11:32:05","slug":"who-is-kris-marszalek-cro-holders-hit-in-major-scam-is-crypto-com-insolvent","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18044","title":{"rendered":"Who Is Kris Marszalek? CRO Holders Hit In Major Scam: Is Crypto.com Insolvent?"},"content":{"rendered":"
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A storm is brewing within Crypto.com and the Cronos ecosystem. Yesterday, a small group of whales <\/span>flipped<\/span><\/a> a governance vote to support a contentious proposal, allowing Crypto.com to reissue 70 billion CRO tokens. This decision increases the total supply from 30 billion to 100 billion, with the additional 70 billion CRO vesting over ten years\u2014a move that has sparked contention and dissatisfaction among holders.<\/span><\/p>\n

Only a handful of CRO holders, primarily Crypto.com and Cronos Labs (the architects of this proposal), wanted it to sail through. For the most part, since the idea <\/span>was first floated<\/span> earlier this month, the majority opposed reissuing the 70 billion CRO. <\/span><\/p>\n

These tokens were<\/span> \u201c<\/span>burned<\/span>\u201d <\/span>and removed from circulation during the Golden Era of 2021 when Crypto.com was a dominant force and CRO ranked among the top-performing coins. Unburning them now seems illogical to many and essentially means <\/span>dilution of<\/span> the existing supply.<\/span><\/p>\n

With whales stepping in to vote for the<\/span> \u201c<\/span>strategic reserve<\/span>\u201d <\/span>against the <\/span>community\u2019s<\/span> wishes, CRO prices dropped<\/span>, sliding<\/span> 10% yesterday.<\/span><\/p>\n

Concerns are now mounting that Crypto.com, led by CEO Kris Marszalek, might be orchestrating yet another scam to exploit users.<\/span><\/p>\n

To understand these claims, one must look back at <\/span>Marszalek\u2019s<\/span> long and controversial history, tainted by allegations of fraud and questionable business practices. <\/span><\/p>\n

Alongside Rafael Melo, <\/span>Crypto.com\u2019s<\/span> current CFO, Marszalek faced scrutiny at Ensogo, a company that collapsed in 2016.<\/span><\/p>\n

The Ensogo Debacle<\/span><\/h2>\n

Crypto.com launched in 2019, but before that, Marszalek and Melo were executives at Ensogo. <\/span><\/p>\n

Ensogo was an e-commerce platform specializing in flash sales and daily deals<\/span>, operating<\/span> across Southeast Asia.<\/span> It collapsed in 2016, leaving investors and partners in financial ruin.<\/span><\/p>\n

The platform offered deep discounts on goods, services, and travel, targeting emerging markets like Singapore, Hong Kong, and Thailand. At its peak, it boasted over 600,000 active subscribers and a vast network of merchant partners. <\/span><\/p>\n

Between 2013 and 2014, Ensogo expanded rapidly, capitalizing on its revenue to onboard more users and attract investors. This aggressive growth <\/span>was spearheaded<\/span> by Marszalek, who also fueled investor hype.<\/span><\/p>\n

Trouble emerged in 2015 when Ensogo <\/span>was listed<\/span> on the Australian Securities Exchange (ASX). Filings revealed declining revenue, and the company posted an $11.6 million loss that year. <\/span><\/p>\n

On June 20, 2016, Ensogo announced it would shut down operations in all markets except Hong Kong. Three days later, on June 23, it <\/span>closed<\/span><\/a> entirely and delisted from the ASX.<\/span><\/p>\n

The shutdown left customers unable to redeem vouchers, merchants unpaid, and shareholders\u2014once believers in <\/span>Ensogo\u2019s<\/span> vision\u2014empty-handed. <\/span><\/p>\n

Marszalek resigned in June 2016 and, within weeks, founded Foris Limited, the parent company of Monaco.com, to create a crypto-backed debit card. <\/span><\/p>\n

Monaco <\/span>raised<\/span><\/a> $26 million in an ICO in 2017, roughly a year after Ensogo collapsed. <\/span><\/p>\n

However, instead of fulfilling its ICO promises, Monaco rebranded to Crypto.com after <\/span>purchasing<\/span><\/a> the crypto.com domain for $12 million. This rebranding introduced a new token: CRO.<\/span><\/p>\n

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Did he write this article? His track record is 0 \u2013 ? Ensogo, Beecrazy, Monaco, Cro. Which was the successful business? \"\ud83e\udd14\" pic.twitter.com\/Qdz7msj2pV<\/a><\/p>\n

\u2014 MarcelinsKamdoumFAKE (@FakeKamdoum) March 19, 2025<\/a><\/p>\n<\/blockquote>\n