English Premier League, club Manchester City says that the deal has not yet been activated.
It is now conducting “further enquiries” regarding 3KEY Technologies amid speculation about whether or not the company actually exists.
Manchester City suspend partnership with "3Key", a start-up cryptocurrency firm whose executives do not seem to appear on internet searches. Partnership was announced last week. pic.twitter.com/Hi02Z2IxAR
— Jack Gaughan (@Jack_Gaughan) November 19, 2021
The questionable tie-up was made public on November 12, with Manchester City announcing that it would feature the crypto company’s brand on its digital assets and work on a number of events and content activations.
Internet sleuths grew suspicious of the partnership after it turned out that none of the four 3KEY executives mentioned in the statement, including Chief Marketing Officer Ryan S. Hodder, had any sort of online presence.
We are pleased to announce a new partnership with @3keyDefi 🙌
The partnership will see the Decentralized Finance (DeFi) Trading Analysis and Advisory Technology company become an Official Regional Partner 🤝
Download 👉 https://t.co/hquZ2SKLmB
— Manchester City (@ManCity) November 15, 2021
The only available website associated with 3KEY describes the cryptocurrency project as a centralized decentralized finance (CDF) project. Its tacky design features fancy numbers but offers no information about who is actually behind the project. The fact that the project advertises “150% average annual returns” and “100% customer satisfaction” should be enough of a red flag.
On November.18, FC Barcelona also terminated its contract with non-fungible token marketplace Ownix, whose consultant, Israeli crypto mogul Moshe Hogeg, was arrested on November 18. Hogeg is being accused of theft, money laundering and assault.