A 27-year-old young man named Borja Villalobos has caused a hole of more than 10 million euros in a “crypto” project called Banger Games that aspired to revolutionize the gaming industry. After several months missing, many of those affected believe that he has allegedly fled with part of the funds. Important names such as Susana Rodríguez and Sebastian Radu, professors at the Business Institute, were involved in the project.
In the midst of the crypto bubble, a gaming platform powered by blockchain technology was born in Spain that aspired to unite all players in a single community. Borja Villalobos, a young man from Pozuelo de Alarcón, was the architect of said project that in a short time began to gain some popularity in the cryptocurrency ecosystem. What started out as a simple “power point” with a great idea ended up crystallizing into an ambitious project that raised more than 10 million euros and ended up bringing together an important working group.
In addition to the two IE professors, other renowned professionals joined in, such as Miguel Escribano, Lydia González Otero, Josh Entsminger and Marc Díaz Williams, who became their main ambassador at certain events. Just ten months ago, during the fourth edition of Crypto Plaza Forum 2022, Marc himself said the following:
“Banger is a video game platform designed for Web2 users, the traditional user will be able to access it without technically realizing that they are in a Web3 ecosystem.” “We are talking about a market of 3 billion users that will be more than 5 million before 2025.” “In addition, it is designed by Fantasy, which is responsible for the user interface of Netflix, Twitter, Spotify or Tesla cars.”
According to company data, the project was spectacular and they did not hesitate to show their alliances with partners such as IBM, Microsoft, Horizen Labs or Polygon. Widely recognized companies that also had the approval of the cryptocurrency investment community. As soon as the first funds from Business Angels and other investment vehicles began to come in, those responsible for Banger changed their headquarters and moved to Dubai where everything began to change.
Goodbye to 10 million euros
Last June 2023, the famous Banger token was listed and just weeks before the listing on several exchanges, those responsible changed the tokenomics (economic conditions) and even the name, finally launching a token called QWAN. In just 20 minutes of trading, it lost about 50% of value and days later it was worth practically 0. At that moment, controversy broke out and accusations of fraud began to flood social networks and telegram groups.
The first to raise its voice was the HVS Ventures fund, which confirmed the worst omens and began to talk about “SCAM” (fraud). Immediately afterwards, people close to Banger Games began to speak, confirming that the company’s own CEO and his friends had squandered the company’s money on various parties in Dubai and on agreements that were basically worthless. “Borja and his team went from country to country giving talks about Banger with the sole objective of promoting themselves while spending huge amounts of money on each trip,” sources close to ADSLZone acknowledge.
HVS Ventures
@hvs_ventures
No VC want to talk like this, But we have been forced to do this by @BangerGamesGG
They came up with a new project out of thin air @theqwan_io
We request other investors to also #DYOR
Special mention to @Poolz__
@MEXC_Global#HVS_Ventures #BangerGames #IDO #StopScam https://t.co/35UHN5vyBU
October 10, 2023 • 13:04
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Borja Villalobos himself wanted to address all the criticism in a live broadcast, denying all the accusations and acknowledging that all the money raised had been allocated to the company. The reality is that last summer the company had less than 400,000 euros in balance and practically the entire team began to disappear from social networks to try to erase any trace that linked them to the company.
As of today, Banger’s social networks are completely dead, the company’s website does not work either, it has been disconnected, and the company’s managers are missing. Some of those affected have confirmed to ADSLZone that they will take whatever legal action is within their reach so that the young entrepreneur and those responsible for the alleged embezzlement of funds give the pertinent explanations before the Spanish justice system.
