Seele ICO Right After $1.8m Fraud Brings Up An Emergency Response

Following numerous investor complaints, the group behind the Seele ICO has affirmed that individuals who thought they were backing the venture have fallen victim to a scam. Clearly somebody imitated a chairman of the ICO’s telegram group and committed fraud while acting like Seele’s data analyst Dr. Scratch Smith.

The impostor offered amass individuals a private offer of tokens in front of its official public crowdfund and got them to send their funds to a false wallet. The accepting ethereum address now holds 2,162.49 ether, worth about $1.8 million at the season of the robbery.

For the record, the project is described as being “empowered by an up-scalable Neural Consensus protocol for high throughput concurrency among large scale heterogeneous nodes and is able to form unique heterogeneous forest multi-chain ecosystem.”

Other than apologizing for the scam, the Seele group has likewise taken actions to cure the circumstance. They reported they have shaped an emergency response group, set up an emergency hotline to speak with the victims, and guarantee to give consistent updates about their investigation’s discoveries. They additionally now reinforced various rules to the administrators, after the scam, and confined the administrators’ privileges by utilizing a twofold validation technique – face recognition and scheduled login.

Ultimately, the guarantee that in spite of the fact that Seele has not begun the presale, they “will take responsibilities to minimize the loss of community members by making detailed compensation plans.”

In any event the victims for this situation have a group they can go to and ask for compensation for their lost funds. A week ago, an announcement about another ICO which basically vanished out altogether in what is normally known as an exit scam. The site for an ICO venture for fruits and vegetables on a blockchain Prodeum was disconnected, leaving behind just a nasty message to investors.


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