They will say that ESCOBAR is back but don’t worry, this time around it’s just a name for a cryptocurrency launched by the brother of the most infamous narco-trafficker of all time, Pablo Emilio Escobar Gaviria, in order to fund a campaign to impeach the US President, Donald Trump.
At the height of his powers, Pablo Escobar had a cocaine empire that brought in a reported $70 million a day and had turned him into, perhaps, the most feared narco-trafficker of his time. Hacienda Nápoles, Escobar’s luxury estate, covered 20 sq. km of land and was complete with everything money could buy, from aeroplane landing strips to zoos.
Roberto Escobar, the elder brother of the deceased narco kingpin, created Escobar Inc., which launched an Initial Coin Offering (ICO) by creating a page on the GoFundMe website, a crowdfunding platform. The page collected an astounding $10 million in just about 10 hours but was then delisted.
Less than a day after the page was taken down, Escobar Inc. launched ESCOBAR, an ERC-20 token, similar to the stablecoin Tether (USDT). Roberto seems to have gone the other way around by opening the option of donations through cryptocurrencies rather than government regulated funds on the Impeach Trump Fund website. There is also the option of buying the ESCOBAR token.
This is not the first time the former Medellin cartel co-founder, has dabbled into the cryptocurrency market. In March 2018, Roberto had launched a new cryptocurrency, christened “Diet Bitcoin” (DDX), and in a rant against the Bitcoin, labelled it as the “CIA’s BTC scam.” The Diet Bitcoin failed to make much of a headway in crypto markets and appears to be a failed venture by Roberto Escobar.
This cryptocurrency has been launched at a time when there have been many calls for Trump to be impeached amid strained relations within the White House and with some leaders of the world. The pressure on Trump is piling, who has been quite determined to acquire taxpayer’s money to build a wall all along the Mexican border in order to stop the influx of illegal immigrants and drugs.
The Escobar cryptocurrency page claims:
“The token came to existence as a tool to raise money for the Impeach Trump Fund cause, where a GoFundMe fundraiser was shut down and censored. Thanks to cryptocurrencies, there are no boundaries to be censored!”
However, experts express caution while investing in ESCOBAR as it could be a clever way of acquiring money, something that Roberto and Pablo, were really good at.