Omg tried to withdraw money from chocolate finance cannot immediate withdrawal. Say need up to 10 working days to withdraw

[sacredrays]

if it came out at 10am in the morning, it will be more effective than it coming out at 9pm

i talking about the finfluencers videos leh..

clickbait title as "why am i withdrawing from xxx"

ppl see title straight panic, here the edmw-ers already bashing those finfluencers without watching it too.

 

[Anghtj]

I withdraw all money out already, move to GXS for 3%

 

[AndroidComa]

Actually all this can be prevented if all the influencers that were not paid by them didn't promote them so aggressively

Not as if they were paid by them

there is another route they use to attract investment
which is ppl like us, who recommend our peers to sign up using our links, for a small reward
i refer 10 friends, all 10 friends send me the same msg, what u want me to tell them?
i just tell them, for all our own sakes, if u feel uncomfortable, Q to withdraw..

 

[SimpleToo]

Actually all this can be prevented if all the influencers that were not paid by them didn't promote them so aggressively

Not as if they were paid by them

I not sure if they got commission anot…

but for finance In Singapore there so much one can talk about, when something new all will talk about it even if it simply just for views…

 

[AndroidComa]

I withdraw all money out already, move to GXS for 3%

not considered complete withdrawal until it really appears in the bank that you appointed

 

[Acetone]

I withdraw all money out already, move to GXS for 3%

Most of the folks here haven’t got their money leh…

 

[AndroidComa]

now the best solution is this Walter, sell off to Temasek or DBS
for show of confidence

bye bye!

 

[pohw0008]

Next month left 2.25%
@crimsontactics

So low?? I thought still got many options higher than 2.25%..

 

[crazythen]

Why so dramatic? Are these people investing 50k+?

 

[fortunehunter]

Actually the CEO nv thought that sinkie very gian png can make so much claims on AXS miles.

CEO should come edmw how we game the system.
Like last time food panda give offer someone go order 10 bottles of soft drinks.

 

[sg-united]

u think how many people actually watched their videos? so many read title and start to panic

There is no need to watch any videos.

As an investor, you need to read the documents that you have signed. If anyone is unsure on what you are signing, you need to seek independent advice. This is a standard terms and conditions of all the FIs.

Like I mentioned earlier, the panic was due to lack of response from the company when it is facing a publicity crisis. The marketing/PR team needs to know what to do. This shows that the company does not have a proper BCM/BCP policies and procedures to handle crisis. Once the clients lost confidence in the company, like in this case, the company is finished unless they can do a quick service recovery and assurance, etc. It takes years to build confidence and creditability, and they just destroyed it in the hands of Youtubers. The company failed to understand the impact of social media in today business world.

The senior management and board of directors looked terribly bad in handling this crisis.

 

[huihong]

Actually all this can be prevented if all the influencers that were not paid by them didn't promote them so aggressively

Not as if they were paid by them

never trust what sinkie influencers promote, do your own dilligence

 

[pohw0008]

yah put 10 days cause more people want to withdraw

Even if more people withdraw the process should still take 3 days?? Unless their system is do manually one.. need people to sell one by one..

 

[win_man]

My boss always say “Communication, Communication, Communication”!

Even if need to spam users with emails and it doesn't cost anything. Only no communication is the worse costly!

 

[pohw0008]

Through this incident I realize that there's a lot of people who are lazy and clueless about how things work. Want to invest money but don't know it works and too lazy to find out when there's a lot of information easily available. Aside from whether CF is legit or not, if one cannot stomach such risks or understand such investments, it would be safer to just put the money in something super safe like SG Tbills or SSB.

Put in stocks they are afraid the company close shop, put in ETF they are afraid the whole sector crumbles because of things like tariffs, put in unit trusts and what not they are afraid the company cheats their money and cannot withdraw, put in crypto they're afraid it's a scam. There's always risk in investing, if it causes one to be unable to sleep, get overly anxious then maybe investing is not for them. Want to play, then don't be afraid. If afraid, then don't play.

Yeah i put 70% of my cash in ssb and banks..

 

[AlchemistJ19]

Wah lucky never come in. Was planning to put some money inside after bonus in

 

[mel1888]

Product launches usually end up with backend processing side scrambling to untie the knots.
Lets see if this can endure.

 

[sacredrays]

There is no need to watch any videos.

As an investor, you need to read the documents that you have signed. If anyone is unsure on what you are signing, you need to seek independent advice. This is a standard terms and conditions of all the FIs.

Like I mentioned earlier, the panic was due to lack of response from the company when it is facing a publicity crisis. The marketing/PR team needs to know what to do. This shows that the company does not have a proper BCM/BCP policies and procedures to handle crisis. Once the clients lost confidence in the company, like in this case, the company is finished unless they can do a quick service recovery and assurance, etc. It takes years to build confidence and creditability, and they just destroyed it in the hands of Youtubers. The company failed to understand the impact of social media in today business world.

The senior management and board of directors looked terribly bad in handling this crisis.

that's why ppl see the clickbait title "why i am withdrawing from xxx" and start to panic/ bash them lor. never watch.

 

[The_Davis]

There is no need to watch any videos.

As an investor, you need to read the documents that you have signed. If anyone is unsure on what you are signing, you need to seek independent advice. This is a standard terms and conditions of all the FIs.

Like I mentioned earlier, the panic was due to lack of response from the company when it is facing a publicity crisis. The marketing/PR team needs to know what to do. This shows that the company does not have a proper BCM/BCP policies and procedures to handle crisis. Once the clients lost confidence in the company, like in this case, the company is finished unless they can do a quick service recovery and assurance, etc. It takes years to build confidence and creditability, and they just destroyed it in the hands of Youtubers. The company failed to understand the impact of social media in today business world.

The senior management and board of directors looked terribly bad in handling this crisis.

10+ employees only. What you expecting?

 

[sg-united]

My boss always say “Communication, Communication, Communication”!

Even if need to spam users with emails and it doesn't cost anything. Only no communication is the worse costly!

Precisely, no communication to all their investors, not even banner on their app and website to calm the market within 1 hour when the news broke out. The finance department should know that a panic has occurred when there is a sudden surge in withdrawals within a short span of time. BCP should be activate immediately to find out the root cause.

The whole team looked so newbies.....