Whew, there have been a lot of bad press about Kuetzal in end December and start of January. You probably know this by now.
This bad press have hurt their reputation. Thewealthyfinn even chose, that it was time to pull the plug. That was a good call by him. Lately, the company has been called a “Scam” and we will get the truth soon.
And as of today they just announced in an email to all investors, that they will wind-down. They won’t offer new projects. Neither do they allow new registrations or deposits. You can’t access the website only your dashboard.
You can’t even use the direct links to find for instance their Q&A
What does this mean for your funds?
Currently, their accounts at SEB Bank and PAPAYA are frozen. Both banks have initiated an AML (anti-money laundering) check.
Therefore they won’t be able to initiate the buyback guarantee procedure and not even process withdrawals.
Kuetzal states that they want to reestablish activity in both banks and then perform buybacks and withdrawals.
This means that our funds are stuck at the moment for an undefined period.
I’ve sent an email to Kuetzal requesting more information about how they plan to perform the buyback procedure and withdrawals. At this time they probably have limited information, but I want to make sure that we all understand this correctly.
I’ll make sure to update this page when I’ve more information
Last updated: 12-01-2020 11:27.