In response to the post from ICO Ethics
(September 23 2018)
(
https://bitcointalk.org/index.php?topic=5035669.0)
(
https://medium.com/@ICOEthics/welleth-org-scam-ico-d30f6fe52521)
All activities concerning the Welleth ICO were suspended to thoroughly examine the situation. The discovery of a phony team member was indeed an impedance to the project development.
Stan was a great influence to Welleth at the early stage of the project. In responding to a call for a technical strategist, he designed the logo, improved on the website and provided so many proactive ideas for the project model and specifications.
As a young team with not so much financial backing yet, we agreed with him to pay in equity from tokens reserved for the team. He provided us with his details and because we had come to take him as one of us, the background check was only superficial up until icoethics (doing a commendable job) detected him.
His defense was; he wanted to be a part of the project and contribute to its success but didn't want any of the popularity that would come with it, for security reasons.
However, we've taken him off the team, off the project, terminated all his administrative access to the project, and contacted ICO Ethics. We've taken a step back to examine the extent of the damage and ensure we have a grasp on the situation. Now, we can assure that it's all under control.
Welleth is a great project with great potential, we believe in the project and would put in our best as the team, without any loss of enthusiasm, to make sure it delivers on every frontier.
We apologize to the public, to our partners, supporters, and critics. Thank you for being patient.
The new Welleth ICO schedule is as follows:
Start date: October 25th 2018 12:00am GMT.
End Date: December 15th 2018 12:00am GMT.
Bounty and airdrop news will be announced on our website and telegram community. Further questions can be directed to:
contact@welleth.org Thank you.
The Welleth Team
www.welleth.org