The FTC should investigate the crypto-financial platform Cred (https://mycred.io) for fraud against its customers. Thousands of customers have had their accounts frozen following an alleged inside fraud and Cred refused to communicate transparently with their customers, sending cryptic emails and lying about the status of their funds. They deceived both their customers and partners.

The 11/8/2020, Cred submitted a voluntary petition for chapter 11, deliberately trying to declare bankruptcy in an attempt to avoid paying their liabilities, which totals up to $140MM.

We, customers, want justice and we now are asking the FTC and the State of Delaware to step in and audit the situation, in an attempt to locate where the funds are and if a deliberate fraud allegedly took place.

We ask readers of this petition, and especially Cred customers, to fill in the following form to report Cred to the FTC at https://reportfraud.ftc.gov.

Sincerely and on the behalf of the Cred customers.

More information about Cred can be found on the following links:
https://www.bloomberg.com/news/articles/2020-11-09/busted-hedges-alleged-fraud-bankrupt-silicon-valley-crypto-firm
https://finance.yahoo.com/news/crypto-lender-cred-files-bankruptcy-191700606.html
https://cointelegraph.com/news/cred-customers-demand-answers-after-platform-files-for-bankruptcy

Former Cred partner Uphold plans to sue Cred for fraud:
https://support.uphold.com/hc/en-us/articles/360052308611

Information about the ongoing chapter 11 case can be found here:
https://www.donlinrecano.com/Clients/cred/Index