Prodeum Vanished With Its Investors Money

Prodeum Vanished With Its Investors Money

As long as there are cryptocurrencies, there would be scams as well. So far, we have seen exchanges being hacked, cryptocurrency wallets being hacked, Bitcoin theft with the use of firearms and probably the last case of fraud might not surprise you as well. A startup raised some money through an initial coin offering and disappeared with investors’ money.

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As long as there are cryptocurrencies, there would be scams as well. So far, we have seen exchanges being hacked, cryptocurrency wallets being hacked, Bitcoin theft with the use of firearms and probably the last case of fraud might not surprise you as well. A startup raised some money through an initial coin offering and disappeared with investors’ money.

Prodeum, a Lithuania-based (not yet confirmed) startup vanished without a trace, having stolen millions of dollars. The only thing that was left on the company website was the word “penis”. Penis indeed. Prior to the recent happenings, the startup claimed to revolutionize the fruit and vegetable industry by the integration of blockchain.

The idea was that every customer could check where his apples and cabbage come from. Of course, many bio-loving and green people were excited about that opportunity and jumped on board by investing in the project. The code system was supposed to utilize the Ethereum network.

Unfortunately, the good vibes disappeared on January 28 when the Prodeum website was down, there was only one word on the white background, and you know which word was that.

Some vigilant Twitter users reported that Prodeum had paid Fiverr freelancers to write the company name on their bodies and then post photos on social media. Currently, the company’s Twitter account is taken down, as well as its LinkedIn page. TokenDesk an internet site that promotes ICOs also had removed the dick move company page.

The founders of Prodeum are Petar Jandric, Rokas Vedluga, Darius Rugevicius and Vytaustas Kaseta if we can trust the official white paper. Once the fraud came to life, Rugevicius made a statement on LinkedIn that his personality has been hijacked and abused. He claims to have never heard the name of the company or the names of the founders. He clarifies that he would do his best to find out who sits behind the malicious acts.

Nobody knows the exact amount of money the culprits managed to steal but Prodeum’s entry on ICO Watchlist shows its goal is 18% complete.

Prodeum joins the company of Confido and BitPetite which also made similar scam moves in the past.

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