Title: Tangible Real Estate Encryption Project’s Undisclosed Transactions Lead to Losses for USDR Investors
Summary: British real estate experts have criticized the real estate encryption project Tangible for undisclosed related transactions involving markups of up to 21%. The project’s USDR stablecoin experienced a run in October 2023, causing liquidity reserves to be exhausted and the currency price to plummet. CoinDesk analysis estimates that USDR investors could have lost at least £875,590. Tangible is working to compensate investors but has not provided further details. The company currently needs to liquidate nearly 200 UK properties with a total value of approximately £27 million to repay investors.
