Kuetzal and Envestio have shut down, now what?

Some investors will focus on their losses, but I would encourage everyone to instead spend your energy on checking your portfolio. Are there any other suspicious platforms or risky assets there? I can list at least 3 other P2P platforms that I would have some concerns about:

  1. FastInvest

  2. Monethera

  3. Wisefund

I already did a review about FastInvest, but Monethera and Wisefund attracted attention to themselves by disabling early exit guarantee:

Monethera:

In relation to the well-known events on the market, our company is temporarily forced to limit the option of the repurchase of your investments from our reserve fund.

Wisefund:

For your information, from the very beginning, Wisefund had guarantee agreement under certain terms, and early exit option was not intended for everybody to use it, For now, after this statement, Wisefund will limit early exit requests until we take care of existing requests and receive confirmation the guarantee provider is ready to accept further requests.

Let’s see how situation develops, but sudden changes in terms are definitely not a good sign in my opinion. If a platform does not have the ability to provide such a service, then why promise it in the first place?

And it turns out that these 2 platforms not only have disabled the option for investors to do an early exit, but their “buyback guarantees” for failed projects are very suspicious as well:

  1. Buyback guarantees are provided by 3rd parties from Hong Kong. Reminds me of Kuetzal and their Asian investors.

  2. Wisefund buyback guarantee is provided by Best Treasure Limited - company that is not reachable in it’s address and possibly has applied to cancellation of business registration.

  3. Monethera buyback guarantee is provided by RICHLY PACIFIC INTERNATIONAL LIMITED - company that is dissolved.


What to do?

If you followed P2P bloggers and based your investment decisions on their posts, and still trust in their judgement - then of course check their portfolio changes. For example, Jørgen’s last 3 transactions were withdrawals from FastInvest and Wisefund:

What about others? Any more withdrawals?

  • InvestingSmall decided to stop investing in FastInvest

  • ThePoorInvestor decided to pull out of Fastinvest 100% and sold an expensive index fund (2% yearly expense)

  • Steps to financial freedom withdrew money from Iuvo, FastInvest, Crowdestor, TFG Crowd

  • FinanceShot decided to temporarily stop using FastInvest, and withdrew from Mintos, Housers, and Grupeer a little portion of his balance.

  • Dollarbill has sold a large number of loans from FastInvest

  • The Wealthy Finn decided to sell almost all of his loans on Fast Invest

But if I am serious - then I urge everyone to use this opportunity to do some research on your own and invest in platforms and assets that you feel confident about. If you have no problem with lack of transparency in case of FastInvest - then why worry? If you don't think that any of Monethera or Wisefund projects will fail, then the buyback guarantee does not matter, right? It is your money and your decision.

What NOT to do?

  • Do not fall for another scam. For example, a crowdfunding campaign targeted to Kuetzal and Envestio investors. Looks very suspicious as well.


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