There’s been a lot of news regarding ICO’s dropping the ball recently. Let’s check out what happened to the Seele ICO. Which is a fintech Blockchain project promoting Neural Consensus protocol in order to create a unique heterogeneous forest multi-chain ecosystem. What?
2 Million dollars’ worth of ETH down the drain.
Apparently, some scammers were impersonating Seeles Telegram chat’s admins and offered individuals the ability to participate in a “private sale”.
Approached individuals sent off some of their ETH to scammers bearing the Telegram handles, “@seelesupport” and “@nicsmith”. The scamsters address has been uncovered, and now holds over 2,000 ETH. By today’s ETH market rate, that is close to $2 million.
To me, it seems like “pools” of investors were targeted. What do I mean by this? Well, there is an ICO investing strategy in which groups of individuals pool their assets together in order to acquire a surmountable pre-sale bonus. This is usually done with the intention to dump on the market post-ICO.
An interesting investing technique, that many newbie investors do not realize. However, getting scammed out of such a colossal amount of funds really shows something in terms of the competency of those in charge of managing investor funds.
What’s funny to note is that some users have actually accused the team behind the ICO of stealing funds and flipping the blame onto “fake” accounts. Totally possible by the way.
Though, the team has stated that they will “take measures on this issue”. Which, let me clarify, means that they will probably do absolutely nothing – because they can’t do anything about those lost funds.
Mind you this is not the first time that an ICO drops the ball or completely astonishes investors and the cryptocurrency community as a whole.
Let me remind you of how AriseBank, a US-based ICO that claimed to have raised over half a billion is now being targeted by the SEC for misleading investors. Or how Prodeum booked it with $6.5 million worth of investor assets. Leaving behind the word, penis, on their site post scam for all to enjoy.