Bitcoin Forum

Titanium was a very successful ICO that sold out half way into its sale period and developed a rabid fan base.

Last week, 16 million BARs were stolen from company addresses that were supposed to be locked up.
The ironic thing is that Titanium is a startup that will specialize in internet security and cloud based services like internet as a service and company as a service.
To deal with the issue, they asked exchanges to delist BARs (all but one of them did, the one that didn't is, of course, the evil dark lord of the sith Hitbtc).
They are going to fork bars to create a new token, tbar, from which you can get a 1 to 1 trade in.
Just when they announced that distribution had begun, they then announced that due to advice from "forensic analysts" that they should suspend distribution for the time being.

Now, there are wars all over telegram about whether this is a scam or if Michael Stollaire (the ceo) can cure cancer and solve world hunger and make us all rich or not.

Look, scam scam scam are written all over it or at the very least: utter incompetency.

Here is my actual point of the post though:

I did THOROUGH research into the ico.  I had concerns.  Things like there was no MVP yet and the promises of the future of the company seemed really hyped up.
However, the CEO himself took the time to talk to me personally on various occasions and even offered network contacts to verify his claims.
Because of this, I had a lot of confidence going through with investing in it.
when I look back, I really think I had done more than enough due dilligence, yet, here I am in a situation where my investment has gone to shit or at the very least, will take an incredibly long time to recover.

Moral of the story?

You never know, in the world of crypto.

I recognize my own thoughts reading your text....
I was in doubts before investing, somehow the hyped got me carried away and I bought in on the ICO even though I had a bad fealing about the project. Should have listened to my instinct and skipped this investment....

Do you think we have a possibility to get back, or do you think all the creadability of the project is lost with the "stolen" tokens?
I think we are majorly fucked and this was the killing blow, dont see how they will manage to build the trust back up.

I can't recall if details as to how the BAR was stolen were revealed (inside/outside job, harware/software/paper wallet, etc.). The sure thing is that credibility is low. They can only try recover with transparency and commitment to a great product + a great deal of PR. Budget must be set aside for a great PR investment.