Prodeum's start-up "disappeared" with investors' money shortly after the launch of ICO

Prodeum's start-up "disappeared" with investors' money shortly after the launch of ICO

The Lithuanian start-up Prodeum, which promised to "bring blockchain to fruits and vegetables," removed the site after a successful, unconfirmed ICO. Twitter users noticed that now a blank page with a single word "penis" is uploaded to this address.

Prodeum was positioned as a technology that was supposed to open to consumers all information about a fruit or vegetable of interest to them by scanning a special barcode. For start-ups, traders and marketers, the Prodeum offered tracking and demand analysis capabilities.

ICO Prodeum started on January 20 and was due to finish on March 13, 2018. As part of the campaign, it was planned to attract from 2-5 thousand ETH (about $2.5-6 million at the current exchange rate). According to ICOWatchlist , before the disappearance, the project sold about 18% of tokens (about half a million dollars at the rate of Ethereum).

At the same time, some users, citing remote data from Tokendesk, claims that Prodeum managed to raise $6 million in eight days.

There are doubts about the success of Prodeum: there were fewer than 200 people signing up for the startup page on Twitter, and the purported wallet of the project was almost empty - it may have been emptied after the site was deleted.

Also, users noticed that the Prodeum site used fake photos of the team, as well as photos of girls who advertised the project with inscriptions on their bodies (such photos can be ordered for Fiverr for little money).

Following our coverage, Prodeum wiped its white paper from  Google Docs . We saved a copy of the document you can access from  here .

Information Source: Tokendesk