The Confido website was deleted; CFD tokens plunged from $1.20 each to just $0.02 in a matter of days.
Confido, a company that touted itself as a “smart contract” startup, has veritably disappeared, leaving its ICO investors in the dust with empty pockets. The Confido ICO, which raised US$374,000 – no small chunk of change, but a pithy amount in the ICO landscape – has left investors holding useless ERC20 tokens.
Shortly following the ICO, CFD tokens lost over 98% of their value, plunging from US$1.20 apiece on November 14 to just US$0.02. Following the massive drop, the Confido website and the company’s presence on social media were erased. Online digital assets associated with the company were deleted.
Confido’s disappearance has been dubbed an “exit scam”.
A “Tight Spot”
Mysteriously, the company left just one online trace in its wake. A cached version of a Medium post written by Joost van Doorn, the alleged Confido CEO, told of “legal trouble” that the company was having with a contract that had put it in a “tight spot”. On a cached version of the since-deleted Confido website, van Doorn is described as holding a master’s degree in international business with field experience at PepsiCo, eBay, and Zalando.