Newslink: Trustless Payment Startup Confido Makes Off with $375k of ICO Funds

Confido, an ICO startup whose name means “I trust”, has done a bunk with 1,235 ETH. The company was supposed to have been creating a trustless payment system using smart contracts. Instead, it was the project’s founders who have proven themselves trustless after deleting all their accounts and going dark. The $375,000 exit scam highlights the risks that are inherent to the still largely unregulated ICO market.

https://news.bitcoin.com/trustless-payment-startup-confido-makes-off-with-375k-of-ico-funds/