Benebit ICO Does a Runner with $2.7 Million of Investor Funds
Benebit, one of this year’s most hyped ICOs, has pulled an exit scam, making off with a reported $2.7 million of investor funds. Other estimates put the figure as high as $4 million. The fraud only came to light after someone noticed that the team photos had been stolen from a school website. Once this happened, the Benebit team scampered, taking their ill-gotten gains with them. The case is believed to be the largest ICO exit scam to date.
ICO's are a dangerous space because it is so simple to take in millions of untraced "donations" in these huge crowdfunding ploys. Wait til they have proof of use and don't speculate.