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No matter how legitimate a project may look, there’s always a real chance the team will run away with your money. It seems that is exactly what has happened in the case of Prodeum, a recent Ethereum-based project. Either its website was defaced, or the team simply performed a clever exit scam. It’s another warning sign as to why people should conduct their due diligence first and foremost.

• At the same time, it’s impossible for a company to host an ICO without issuing its own tokens; otherwise, people wouldn’t need to invest any money.
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• In the world of initial coin offerings, there are plenty of scams to be wary about.
• Even though Prodeum seemingly had an interesting future ahead, the team has apparently pulled a very quick exit scam.

These are simple tips to paying off student loans really fast! If you want to get out of debt, you need to use these frugal living tips for sure. They are perfect for any young adult who has lots of student loans that they want to pay off. It’s an unfortunate development, although one which expert traders had seen coming from miles away. As one would expect from such half-assed projects, there is very little proper feedback on the Prodeum Bitcointalk thread.

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At the same time, it’s impossible for a company to host an ICO without issuing its own tokens; otherwise, people wouldn’t need to invest any money. In this case, investors were supposed to have obtained Dual ERC-20 tokens, which is rather interesting. In the world of initial coin offerings, there are plenty of scams to be wary about.

All of it merely pertains to shilling the okoin as well as adding the site to people’s ICO-related platforms. Any real questions asked by others were never answered properly, which further confirms the team had no intention of ever going ahead with the project. With so many new user accounts commenting on this project, we can only hope most experienced ICO investors steered away from this venture. Have you ever wondered what praying in the Spirit meant – or even how to pray like that? Sometimes, I think we make aspects of the Christian faith more complex than it was ever meant to be. If you are wondering, Praying in The Spirit Is Simpler Than You Think.

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It is still possible the site was hacked, though, as multiple ICOs have suffered from similar issues in the past few months. Anyone who invested in this project has – most likely – lost their money due to the shady nature of Prodeum. It is the umpteenth ICO to either suffer from site issues or pull an exit scam. Moreover, there is always the question as to whether or not such ventures really need their own digital tokens. In the case of Prodeum, all of this could be achieved without creating a token which no one asked for in the first place.

Even though Prodeum seemingly had an interesting future ahead, the team has apparently pulled a very quick exit scam. The project itself involves tracking produce on the Ethereum blockchain, a mission that will certainly find a willing audience given enough time and effort. Unfortunately, we will never know if this project could have ever amounted to anything, as the team is long gone.