The cryptocurrency investment platform Freeway stated that it is running multiple recovery plans

ChainCatcher news, Freeway tweeted to explain the recent suspension of services and stated that multiple recovery plans are underway.
Freeway mentioned that a trading strategy of theirs seems to have failed recently due to unexpected market fluctuations, resulting in significant losses. Two concurrent factors contributed to this: an unprecedented rise in the dollar and volatility in cryptocurrencies.

It is worth noting that the custody services and trade execution provided by Ardu Prime Brokerage are unrelated to this failure. Additionally, the strategies used in the Earn and Protect Beta have been confirmed to run well and have fully implemented hard stop-losses at the brokerage level. However, the trading losses have had a huge impact on Freeway's portfolio, and Freeway is taking measures to ensure the safety of the remaining funds and has exited the losing strategies. Furthermore, Freeway is bringing in new expertise to manage the remaining funds while running multiple recovery plans, each of which is independent.

The first recovery plan is the management and growth of the remaining funds, overseen by an experienced governance team working behind the scenes to maintain a more controlled environment and follow a model similar to that created for Earn and Protect.
The second recovery plan is a strategy that Freeway started in June as a diversified opportunity, showing many positive potentials.
The third recovery plan is a strategy involving the deployment of a significant amount of new funds in a brand new product, which is expected to be profitable. Freeway cannot disclose the details of this strategy until the funds are secured.
The fourth recovery plan revolves around truly implementing Earn and Protect, with all user protections guaranteed by the AuBit Reserves Foundation.

From now on, until Freeway can partially resume purchases and eventually fully repurchase (buy back) the Supercharger simulation, the community will participate in a voting system to better understand their views on the related plans.

It is reported that two days ago, Terra researcher FatMan tweeted that Freeway has halted all withdrawals from the platform. The names of all team members have been removed from the website, raising suspicions of a Rug Pull involving an amount of up to $100 million. (Source link)