A cryptocurrency startup Prodeum that had promised to “revolutionise the fruit and vegetable industry” by putting it on the Blockchain “Ethereum“, has pulled an exit scam, leaving its investors with one word only: “penis.”
Prodeum was founded by 4 individuals going by the names of Petar Jandric, Darius Rugevicius, Vytaustas Kaseta, and Rokas Vedluga. IBT has unearthed a deleted LinkedIn profile allegedly belonged to the Prodeum founder, Jandric.
On Jan 28, the company’s website went down suddenly and in place of the old layout, the page was showing only one thing and that was the word “penis” on a white background. The website has continued to be unavailable at the time of writing.
The start-up that had claimed to be based in Lithuania, set out to build a new price look-up (PLU) code system so its consumers can track where their fruit & veggies came from. This honourable cause struck a cord with several environmental activists & green-aware people.
Unfortunately, it seems it has parted with the funds of all its investors.
It is unclear precisely how much cash Prodeum has lifted from its investors, but its entry on ICO Watchlist does indicate Prodeum completed 18% from its funding goal.
Its white paper lists the soft & hard caps for the ICO at 2,100 & 5,400 ETH, and the current price of Ethereum is $1,194, as per the CoinMarketCap.
As some of the users have since pointed out on Twitter that it appears Prodeum might have been paying Fiverr users to write their brand name on their bodies and post the images on social media.
Following a viral tweet that is pointing out the startup is likely puling a Houdini, the domain has since been updated to redirect to a “certain” Twitter account.
Not only its website, Prodeum has also purged its Twitter account. TokenDesk, that is a website to promote various initial coin offerings, has also removed Prodeum’s page from platform. Instead, it does now read “404 Page Not Found.”
Last year, a sketchy Bitcoin investment platform “BitPetite” suddenly went dark, leaving with all of its investors’ coins.
Only a few weeks later, another cryptocurrency company, called ” Confido “, wiped out its digital fingerprints & dashed off with its customers’ investments. The move came only days after its founders said that they have ran into some of the legal obstacles.