Controversy Trails MCO Swap Plans, Investors in an Uproar

Controversy Trails MCO Swap Plans, Investors in an Uproar

Investors in the MCO token sale are accusing the platform of malpractice in its drive to swap MCO for its new CRO tokens. The decline in MCO token price in the run-up to the swap has left some stakeholders speculating that is trying to engineer a forced liquidation for MCO bagholders.

Disgruntled Users Accuse Platform of Insider Trading

Tensions are high among MCO token holders amid the decision by to enact a swap for CRO coins. According to a Reddit post by “u/inormalize,” some investors are accusing of insider trading. 

The crux of the controversy appears to be about the manner in which the token swap has proceeded. Top on the list of grievances is’s decision to stop buying MCO in the open market.

Indeed,’s token swap decision came as a surprise. Before the announcement, the general trend had seen the company focus mostly on CRO development. As a consequence, the MCO token price took a nosedive.

Some investors took advantage of the downward price action to acquire more MCO “coins” on the cheap to enjoy higher tiers of the Visa crypto debit card offered by the company. However, with MCO now almost worthless, token holders are now farther off from unlocking those debit card tiers.

As one Reddit user explained, it would be economically advantageous for to allow the price of MCO to fall, in order for the price of CRO to increase. Having a Busy 2020

Following the collapse of Wirecard in June 2020 with allegations of fraud, the Financial Services Agency (FCA), UK’s regulatory body, suspended activities of the company’s subsidiary in the country. The suspension affected crypto platforms such as and TenX. The company resumed activities after the FCA lifted the suspension

In July, added support for Elrond’s ERD tokens, giving 3 million users of the crypto platform access to the ERD token. Apart from integrating Elrond’s tokens, the company also announced support for the ENJ token

Back in March 2020, the crypto debit card issuer introduced a new invoice service platform for merchants, making it easy for them to accept payment with crypto. Also in June, along with other platforms including Binance and Huobi participated in the Ethereum 2.0 staking pilot. also had its MCO Visa card supported on applications like Apple, Samsung Pay, and Google.

Anthonia Isichei

A graduate of English, She stumbled on cryptocurrency while trying to proofread an article for a friend back in 2011, and since then, She has been hooked! She loves to play word games and tennis.