DeFi casino investors Mpeppe asserts that the cryptocurrency has no liquidity and cannot be traded.

According to claims from tokenholders on Nov. 26, Mpeppe, a gambling and decentralised finance initiative, is releasing 25% of the tokens it owes investors through a new claim portal.

Some investors, however, are griping that they are unable to trade the coin and that it lacks liquidity.

Because the project took cryptocurrency for the tokens without delivering them to users, some investors accused it of having a phoney presale in August.

At the time, blockchain data revealed that every token was stored in a single address and had not been transferred.

The project's UI asked for a lot of personal data, such as the user's email address and phone number, but it didn't ask for the buyer's cryptocurrency address so that tokens could be sent there.

On November 26, two tokenholders reached out to Cointelegraph, both requesting anonymity.

According to both of them, the project has now developed a claim portal that requests wallet connections from users.

Although the remaining tokens have not yet been distributed, one of them stated that they had successfully claimed 25% of the tokens that were owing to them.

More tokens will be available on December 25th, according to a screenshot of the app's dashboard that one user submitted.

According to blockchain data, the project is distributing the tokens through a typical airdrop contract. To date, more than 700 users have claimed their tokens.

Fraud
One user asserted that the coin has no liquidity on Uniswap and is reportedly unsellable, despite the fact that token deliveries appear to be positive news:

I am a semi-experienced cryptocurrency investor who has invested $1,600. But when the claim was received, 1) only 25% of it could be claimed, 2) the coins are worthless, you can't trade them, and they have no value on Uniswap when you try to exchange them for ETH 3. On the first day, there was discussion about a BitSwap release; I haven't seen any of it.
As of Nov. 27, trying to sell Mpeppe on Uniswap for either USDC USDCUSD or Ether ETHUSD results in an error message stating that there are "no routes available."

Scams By the time of publication, Cointelegraph had not heard back from Mpeppe after contacting it via its official email address.

Mpeppe declared the launch of its Telegram gaming platform on October 30. Additionally, the company stated that it is getting ready to open an online casino where customers will be able to wager using the Mpeppe currency.

According to the project's official website, it is working on a mobile application that will be available on the Apple App Store and Google Play.

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