A cryptocurrency start-up that raised nearly $375,000 through an initial coin offering has disappeared with the funds. Confido billed itself as a company that is developing “smart contracts” to act as an escrow between a buyer and seller during a transaction of some sort.



In the past few days, in what is being dubbed an “exit scam,” online assets related to the Confido founders and the company have been deleted. The firm’s website, Twitter account and Facebook page were erased. However, a cached version of the company’s Medium post that was put online on Sunday still remains. In the post, the Confido team said it is in a “tight spot” due to “legal trouble” with a contract.

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Source: [H]ardOCP – Bitcoin Startup Pulls Disappearing Act after Raising 5K