Founders of the Fresh Vegetable Delivery ICO Left ‘Penis’ to Investors

Jan 30, 2018 at 10:08 // News
Author
Nina Lyon
Prodeum startup cheated on its investors

The Prodeum startup that claimed to be an Ethereum blockchain-based system created to ensure fresh vegetable delivery has disappeared a week after the beginning of its ICO, leaving investors only with a short note speaking for itself…

On the 8th day after the beginning of Prodeum’s token crowdsale on January 20th, after the project had already collected more than $6 million, the startup has literally vanished from the screen. Starting January 28, visitors to the Prodeum landing page can see only a blank page with the short word “Penis” on it.

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Keep Your Eyes Open Before Investing!

There are already multiple reports on the fake information that Prodeum used. Users on Reddit have already reported that Prodeum’s founders used fake names and photos. Their profiles on LinkedIn are deleted.

ICOs have become extremely popular and are often used by scammers and fraudsters to get their hands on the money of naïve users. Coinidol.com has already published several notices on projects that use unfair methods to get investor’s money but seem to have no plans to give anything back.

Coinidol’s team reminds investors that they should always do their own research before investing funds in any company.  You should also note that crypto startups are often too young to have no strong team, plan and reputation. Some of them won’t be able to survive and produce the product that they promised before their ICO. That is also why it is so difficult to expose an ICO scam. However, checking reviews on the project, searching for its founders profile and information on their experience, reading the project’s whitepapers and calculating the possibilities to get the revenue if the venture is successful can help you to minimize the risks of falling into the hands of scammers and unprofessional businesspeople, or … with “penis” left by them.