Crypto All Stars has been bought and shut down by the pseudo-anonymous “Mexicantarget” after a 30 ETH buyout of the original founders.
The platform was an alleged “decentralized” blockchain game that was launched on February 14th. Crypto All Stars was an instant internet sensation, garnering over $2 million in ether passed between users, according to data from dappradar.com.
Like CryptoKitties before it, Crypto All Stars allowed users to trade digital cards embelished with original designs, however this time, there were no kitties, but Twitter celebrities. With the slogan “trading cards on the blockchain,” bidders could collect their favorite crypto Twitter personalities and celebs as cards on the blockchain.
Under a month following its launch,it was only 100,000 views below its rival, CryptoKitties, according to site data from alexa.com.
The platform was then shutdown single-handedly after being bought by a new owner this week, leaving all the assets stored on the Crypto All Stars database effectively worthless and users who bought in with empty pockets.
After the frictions between the two co-founders, the new owner claimed he had “plans [to] improve the project big time”. Mexicantarget revealed his true intentions, regarding the project, wanting to “teach a lesson” and combat “money grabbing ponzi schemes”.
Mexicantarget justifies his actions by stating o Twitter that he’s “not the bad guy” and “just trying to help”, comparing the situation to shutting down a Bitconnect-like ponzi scheme.
While claiming to be a “decentralized” application, the Crypto All Stars platform ran on a centralized server and a centralized database to index its blockchain. When the operation shutdown, users that had assets on the platform where left with nothing.
The Crypto All Stars website now displays a message from its pseudonymous buyer explaining why the popular game will no longer be available. The Crypto All Stars URL will re-direct you to the following announcement on the FaucetHub forums.
Written by “Mexicantarget,” the post alleges that the original founders were simply out to scam unsuspecting buyers out of their money.
“I’ve been fighting against scum like you who create Ponzis and get people in sh*t … I’m getting really sick from situations like this, where poor suckers invest in schemes like yours and get burned.”