Prodeum, ICO scam leaves after pulling down its website and social media

You could invest in anything today through an ICO depending on where your interest is. For the love of bananas and vegetables, you could have exchanged Ethereum for Prodeum coins hoping these guys would “revolutionize the fruit and vegetable industry”. However, Prodeum is no more, and it turns out they were deceiving people into this scam.

The allege cryptocurrency claimes to be based in Lithuania. They have deleted their website, Twitter account and white paper which was hosted on Google Drive.

According to some viral Twitter post, Prodeum might have been paying Fiverr users to write their brand on their bodies and write the images on social media.

Prodeum adds to the many scam ICO projects that offer remarkably nothing, and yet people buy their tokens. The project was starts by Petar Jandric, Darius Rugevicius, Vytaustas Kaseta, and Rokas Vedluga according to their white paper. It was later identifying that they used fake names and images or other people’s names on Linkedin.

Also Read: Telegram intends to raise $1.2billion in TON ICO

Rugevicius has posted a message on his Linkedin claiming this was a case of identity theft.

he said,

“Yesterday I became a victim of identity theft. My name was in use as a tool to attract investments into a project that I have neither no relation with nor ever heard of it before. I want to send my condolences to every Investor that has participated in the project named Prodeum. I will do my best to find and bring the people to this violent act to justice. Since this event one more time proves how fragile our industry is and how important it is to conduct. Due diligence process before making an investment decision”.

The scammers promised to develop a new price look-up (PLU) code system that customers can use to track the source of their fruits and veggies. This would ensure fresh vegetable delivery. However, it turns out that Prodeum is a medication designs to reduce infections of the urinary tract. So they left the word “penis” on their website, and it stayed there for several hours.

Although it is not clear how much they robbed, ICO Watchlist entry shows they raised 18 percent of their funding goal. Their soft and hard caps were 2,100 and 5,400 ETH, respectively.

The company joined BitPetite, Confido and many others that robbed people of their money and wiped their digital fingerprints.

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David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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