There are no problems, and here is the whole story.

Why the Jasmy value spiked and dropped:

1- Jasmy was first released on MEXC on Jan 09, 21 for $0.057 (https://ibb.co/hZLh4yS)

2- By February 10, it was trading at $1.30

3- February 12, Gate_io started marketing heavily on a possible listing and offering as much as $50,000 on giveaways. https://twitter.com/gate_io/status/1360194779217227781They created a vote to list it and received 38,339,392 votes https://www.gate.io/poll/votelist/95. There were many giveaways, such as airdrops for the first 1000 deposits, airdrops for trading volume, and much more. Everything is here: https://www.gate.io/article/19404

4- Due to this marketing campaign and participation requirements, Jasmy reached $4.99 on February 16, day that it was listed.

5- Between Feb 17 and 19, there were probably some sell-offs and panic selling as the graphs indicate.

6- The price started to stabilize in the following months.

7- At some point, I could not identify the exact month; Gate_io posted a message that due to local regulations, those holding Jasmy had 90 days to withdraw (there were other coins affected too). Here is a pic of the message https://ibb.co/swk5FM1. I'm not sure if MEXC had something similar.

Now, let's clear up the controversy, and the warning message on Jasmy's website.

In April 2018, a supposedly ICO agency in Japan (managed by Mr. Hashimoto, Mr. Hattori, Mr. y, Mr. Kanao, and Mr. SHO - none related to Jasmy) started offering on twitter and LINE, ten tokens (Jasmy was one of them) for 20-85% less. Some of these tokens were not even created yet, and others like Jasmy didn't have a price set. For Jasmy, they offered a promissory note in the value of 0.8Yen. Everything turned out to be a scam, and up to today, 40 people did not receive their money back. Here is the class action: https://enjin--classaction-com.translate.goog/project/detail/?projectId=1049568024&p=1&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=nui

For the reasons above, Jasmy posted that warning message on their website. They are just saying that they don't sell any "*virtual currency", did not participate, and don't have any affiliation with those who sold/or are still selling it.

*Keep in mind that in Japan, they will often refer to crypto, tokens, or coins as "virtual or digital currency." You will see translated news and posts referencing "Jasmy virtual currency." That has led many people to believe that Jasmy is some sort of virtual currency similar to Bitcoin.

This is part of my DD, and if I made any mistakes, please correct me.