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Linqto Scandal: Pro-XRP Attorney Deaton Rejects Refunds, Fights for Fair Payouts
- Deaton says refunding profitable investments could allow Linqto to retain investor gains unfairly.
- His Circle investment grew from $30K to $157K; a refund would strip $120K in profit.
- A major exposé on Linqto is set to be released this week.
Attorney and XRP advocate John Deaton has warned that refunding original investments in profitable assets through Linqto could result in the platform earning massive gains at the expense of users.
Deaton, who invested $30,000 in Circle via Linqto and now values the position at $157,000, says such a refund would allow the platform to keep over $120,000 in growth that belongs to an investor.
Notably, Linqto customers are demanding answers after the investment platform froze user accounts and suspended operations on February 27, per Globenews.
Refund Plans Could Favor Platform, Not Investors
In a post on X, Deaton argues that refunding initial investments in assets like Ripple and Circle, both of which have appreciated significantly, would unfairly enrich Linqto.
Related: Wall Street Expert Identifies May 2024 as ‘Best Date’ for Ripple’s IPO
“I didn’t invest for Linqto to make a killing off my mon…
The post Linqto Scandal: Pro-XRP Attorney Deaton Rejects Refunds, Fights for Fair Payouts appeared first on Coin Edition.
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