MCN Coin still trading after founders' arrest

The crypto market madness continues.

Have you ever heard of MCN Coin? I guess not. This token has been around for about a year and a half, but there was never anything particularly remarkable about it. Still, until recently, you could exchange it for thousands of other cryptocurrencies on rabbit.io.

Recently, Central Asian media outlets started publishing reports accusing its creators of running a Ponzi scheme. On February 7th, the token's creators were arrested in Kyrgyzstan and confessed to promising to make millionaires out of token buyers while actually operating solely for their own benefit, with no ability to fulfill their promises. The investigation even led to the detention of the former chairman of Kyrgyzstan's State Service for Financial Market Regulation and Supervision, who is suspected of being involved in the scheme.

Five days have passed, yet MCN Coin continues to trade on MEXC and LBank. While you can no longer exchange it for thousands of cryptocurrencies as you could on rabbit.io before, it remains tradable for USDT. Surprisingly, there are active buy orders on both exchanges. And these aren't market-making bots - if they were, the spread between buy and sell orders would be much tighter.

On LBank, MCN Coin trading was actually launched on the very day of the arrest. And its price has remained relatively stable since then.

The token's creators are in jail, their alleged government protector is under investigation - so the token definitely has no future. Yet people are still willing to buy it. If this isn't madness, what is?