Prodeum ICO is a $6 million fraud
RegulationBit News Today1 min read
Prodeum, the Ethereum-based food quality record platform, has drawn scrutiny from the cryptocurrency community as users allege it is an ICO scam. The company's disappearance and website redirection to another suspected scam site, Bitflur, have fueled speculation.
Reports suggest that Prodeum's founders, who posed as running a blockchain food quality platform, were likely inspired by a real-world cooperation between tech giant IBM and retail behemoth Walmart.
Prodeum had offered two tokens, the now worthless PRDM (system development) and PIIT (user reward) tokens. The allegations grew as the Prodeum website went offline, initially displaying only an obscene word on a blank landing page. Compounding suspicion, supposed company leadership was found to have used the photos of other people.
Bitflur, the site to which the Prodeum landing page now redirects, touts itself as a good platform for Bitcoin trading. However, Reddit users view Bitflur with similar skepticism, deeming it yet another scam in the crypto space. Members of the community have flocked to Reddit to actively discuss the scam.
