Good news for investors from Bitfinex! Reimbursement Begins in El Salvador Hilton Project!
Attention those who invest in the Hampton by Hilton hotel complex project to be built at El Salvador International Airport! Bitfinex Securities announced that it would refund money to investors due to the failure to collect the minimum funds required to finance the project.
So what happened?
Bitfinex Securities made this tokenized share issuance for the first time under El Salvador's Digital Asset Securities Act. Investors could get involved in the project with a minimum contribution of $1,000. The project, which offered a 5-year maturity and a 10% coupon rate, also offered investors attractive incentives such as hotel accommodation.
Reaching only 5.5% of the targeted $6.25 million in funding led to the cancellation of the project and refunds to investors.
So what should investors do?
Bitfinex Securities announced that it will provide detailed information to investors about refund transactions and that the refunds will be made as soon as possible. Investors must follow the notifications from Bitfinex Securities and complete their refund requests in accordance with the relevant procedures.
This incident once again shows that caution should be exercised in tokenized share issuances and cryptocurrency investments. Investors should always conduct detailed research, evaluate risks and make informed investment decisions.
What would you do if it were you? If you also invested in this project, do you have any concerns? Share your thoughts in the comments!
What do you think about this incident? What do you think about tokenized share issuances and cryptocurrency investments? Share your thoughts in the comments!