Is #Confido just a HYIP?

More recently, the #Confido startup has flaunted itself on the Internet, offering users its innovative #Blockchein Development for peer-to-peer secure transactions using smart contracts, and tracking delivery. During the #ICO in early November, the team managed to raise more than $ 350,000 in three days.

However, a few days ago, the developers of #Confido suddenly had unforeseen difficulties, according to their message. The first swallow, signaling problems, was that users participating in the bounty programs of the company did not receive their tokens for the work performed within the stated deadline.

Then the situation was aggravated by the fact that CFD (Confido) after the completion of the #ICO and placement on the exchange grew 15 times. In a few days later, the value of the #crypto-moneys increased 30-fold and reached $ 1.2, with a starting price of only $ 0.04.

And the growth of the price of the CFD token was accompanied by continuous positive news from the company. For example, just a few days ago, developers reported that the #cryptocurrency will soon be placed immediately on several large trading floors.

However, on Monday, November 20, users could not enter the site of the company-developer Confido. Later, all project accounts were deleted in social networks, such as Twitter, Reddit, Facebook and Medium.

According to user reports, #LinkedIn profiles, as well as other accounts of team members, have also been removed, which in turn highly likely indicates their fake nature. Therefore, in the future, the situation developed in such a way that the value of the CFD token fell to $ 0.01 on November 22, although before the series of negative events the market capitalization of the company was estimated at $ 10 million. The price of the token at the peak reached $ 1.2.

It immediately recalls the words of the co-founder Ethereum Joseph Lubin, as well as the heads of Ripple Bred #Garlinghaus, who recently issued statements warning investors that the vast majority of ICOs will not be able to sell the final product and, as a result, to benefit the investors. This case of complete failure, and perhaps even the HYIP of #Confido, once again emphasizes the truth of the words of Joseph #Lubin and Bred #Garlinghaus.