Pass it forward

A company announced Confido parent a small ICO by exchanging special CFD designed to allow “safe and trustless cryptocurrency fees. Harmonizing to ICODrops they caused their purpose of about $400,000 and rapidly disappeared, participate in the money with it. The site is currently a parked web server that points to nothing.

The evident founder and former eBay work, Joost van Doorn, announced a message to a Confido Reddit board claiming that “We “re in a” tight spot, as we are having legal hardship caused by a contract we signed. We signed the contract with self-assurance from our legal advisor that there was minimal probability and it would not be an issue. I can’t and won’t go into details, but he was wrong. It is a problem.”

According to the Reddit coordinator for the ICO, the move “is completely out of character” for Joost.

“There is potential that the removal of everything was due to the law situation that they are facing, which is possible as I got the feeling that the situation was grim. I don’t agree with this course of action however, as it has left the entire community, and myself, in the dark, ” he wrote.

The ICOs or token marketings are red hot right now but I’ve spoken to a number of benefactors who are dealing with the same law perturbs- albeit in much less drastic spaces- and who are eschewing the process solely due to law, logistical, and security issues. Established the amounts of cryptocurrency committed and the numerou moving percentages including legal submerge, white paper creation, and cash management, it’s a doubt more token sales don’t flare out like this one.

As of today there is no way to contact the founding unit. The signs rose to a price of about$ 1 before crashing back to a penny.

“These were very good scammers, ” Eli Lewitt, co-founder of TokenLot, told Motherboard.

UPDATE- Kraft& Wurgaft write they they do not have any of the wayward coins 😛 TAGEND

“Our firm equips escrow services for TokenLot.com, a company which hosted the Confido ICO. The business we provide include preserving funds received from ICO investors until the Tokens are distributed by the issuing corporation. Once “weve received” confirmation that the Tokens have been distributed, we liberate the funds received to TokenLot.com for distribution to the Company selling the Tokens. Thus, once the Token sale is complete, we no longer retain a pouch or maintain any stores related to the sale. We furthermore had not yet been direct participation with the issuing busines, i.e. Confido, as our patron is TokenLot.com.”

Read more: https :// techcrunch.com