Coinfido CEO that disappeared with investor money lied about his employment

[bbc.reporter]

Will we be back to the presumption that cryptospace developers who are hiding in anonymity are more ethical? I reckon all the developers who try to look very polished and professional are the people who have something to hide.

Scammers want to defraud you while anonymous developers have nothing to prove.



On Confido's website, which has also been deleted, a man called Joost van Doorn is named as the CEO. His biography said that he previously worked at eBay, PepsiCo and Zalando.

But two of the companies have no record of him.

After being contacted by CNBC, a PepsiCo spokesperson said that its human resources department could not find him. And German online retailer Zalando said that his name could not be found on any employees or freelancer list.

Confido managed to raise just under $375,000 via an ICO on a platform called TokenLot. On Monday, TokenLot, the firm that hosted the ICO, put out a statement saying the Confido team had "pulled an exit scam." The company also said it had lost all lines of communication with Confido.

Read the full article https://www.cnbc.com/2017/11/23/confido-ceo-who-allegedly-pulled-375k-scam-lied-about-employment.html

[Acguy]

I expect more scams like this because its too easy for them with no repercussions. These people need to be punished and made clear to send a message.
The only message this is sending right now is how easy it is to get away with scamming people.

[Teraboy]

called those icos project that already or owned by the unknown developer will include the suspicious project. But what will become the best way for now to learn more about that? The scammer just tries to hide by using the fake information regarding itself.


Throw those icos with the anonymous developer.

[deathwish]

There are some many coins with such tendencies and only time will prove them as scams. I just hope that I don't get burnt in one.

[jlanzago]

Unfortunately there are many scams in ICO space. This is not the first and won't be the last, unfortunately. This market is unregulated, therefore anyone can create a webpage, lie, manufacture a white paper and due their scam. Especially when so many people invest based only on hype rather than doing their own research about the team, the product, the idea, the advisors, the partners, etc.

[baronious]

This is why people need to do their research before they invest in something and pay attention to all the warning signs.

[Kang TB]

yeah and the website also gone,,
this is a big warning before investing on ICO, known the people behind the project as well before investing

[bbc.reporter]

called those icos project that already or owned by the unknown developer will include the suspicious project. But what will become the best way for now to learn more about that? The scammer just tries to hide by using the fake information regarding itself.


Throw those icos with the anonymous developer.

Then we have more causes to think that those ICO developers who have declared their identity and making themselves appear professional have more to hide.

In any case, anonymous developers who have refused to make their identity public have no choice but to prove that they are ethical by working hard on their projects. I am talking about the anonymous developers in projects without ICOs and premines.

[timikulit]

a solution for this is to put fees for the company that wants ICO.

just like what NEO did.

If there is no ICO fee, then all of the people of the world can OPEN its own ICO.

and many ICO scams will rise.

[deathwish]

This is why people need to do their research before they invest in something and pay attention to all the warning signs.

May I ask, what were the warning signs that people could have noticed ?
Is it viable for people to research people and see if they have faked or not. I mean, if someone says that a person has worked in Apple Or Google or any damn sector, how can you ensure that such a claim is indeed true ?

Just want to know what I could do to confirm this ?

[bbc.reporter]

@deathwish. It is good to see that you understand the message and the argument. I reckon most of the people in the cryptospace have stopped caring who the development team behind ICOs are, for as long as they can make more money.

@timikulit. Scammers would use that very reason to appear more legitimate. Paying fees would be not a problem to them.

[kaya11]

It's been a very hard time for us to know whether the coin is a scam or not, we must keep track of pace and happenings in their sites and update on them everyday. I  Don't know who to trust on anymore,  that's why I have stick to Bitcoin and Ethereum, and invested on other altcoins for only a little amount.

[Agozyen]

This is why people need to do their research before they invest in something and pay attention to all the warning signs.

May I ask, what were the warning signs that people could have noticed ?
Is it viable for people to research people and see if they have faked or not. I mean, if someone says that a person has worked in Apple Or Google or any damn sector, how can you ensure that such a claim is indeed true ?

Just want to know what I could do to confirm this ?

Look for active and well established social media profiles - LinkedIN, FaceBook and Twitter.  If a guy running an ICO has no social footprint it's a scam.  Even if they do have profiles you can verify how long they have been active.  All accounts opened last month?  Stay clear. 

[yanesna3]

The saddest thing in all this history is that now all around shout: shame on their heads! Investors take antidepressants, the other good and honest ICOs get rid of many clients, and these scammers giggle and share this stolen money.