June 27 (Cointime) - We Are Bamboo, an ethical travel company based in New Zealand, reportedly used customer funds from prepaid trips for active crypto trading across multiple platforms, leading to the company's bankruptcy and leaving customers without refunds. The director of the company invested over $2 million of customer funds in various cryptocurrency platforms, resulting in a complete loss.
Customers from the United States, Britain, Canada, and Australia lost around $800,000 due to investments in fraudulent platforms that ultimately ceased operations. The incident highlights the need for transparency, accountability, and responsible handling of customer funds when integrating volatile assets like cryptocurrencies in business operations.
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