Alcor's PR department has received a notice from the Hong Kong Monetary Authority to stop Antares Refund's activities on the platform. It has been proposed that the program should operate as a separate infrastructure that is not legally related to Alcor's activities. This request is based on Hong Kong's financial laws since the funds received through Antares Refund cannot be used to invest in the platform's programs.
In this regard, Alex Richter and his team decided to create a separate Antares Refund infrastructure located on antares-refund.com. Its full functionality will be available on 04/04/2022. Please note that only the site's public page has been launched so far.
Alcor partners participating in Antares Refund will not be able to use Alcor services. They will be transferred to antares-refund.com, where they will be able to resume investment activities with funds received from the Antares Refund compensation program. The percentage of the amount of loss on Antares to be unfrozen will be increased from 5% to 7.5%, which will significantly speed up the refund process on the platform.
The full launch of antares-refund.com is scheduled for April 4, 2022. On this day, partners participating in the Antares Refund program will be able to log in to the platform using their username and password from Antares and Alcor and continue to participate in investment activities using funds received under the Antares Refund program.
The functionality for participants in the Antares Refund program will be developed from February 1 to April 4, 2022. During this period, they will not be able to participate in Alcor's investment activities. That is, investment packages created on the platform with funds received through Antares Refund will be temporarily blocked.
Alex Richter, founder of Alcorand Antares platforms