A cryptocurrency called Prodeum has recently disappeared with a whole bunch of investor money, simply leaving the word ‘penis’ behind on its website.
The Lithuanian project was built on Ethereum and claimed to tackled the incredibly niche realm of overhauling the “Price Look-up (PLU) labelling process” on fruits and vegetables, according to the press release posted on a website associated with the NBC.
The scam only managed to rake in a handful of investors, all of which have likely lost their cash for good. Bummer.
The Prodeum site looks like it’s down now, but according to Gizmodo, it linked to this Twitter account for a little while. Is “Angelo฿TC“ the scam artist? Look, probably not.
Reddit user normal_rc posted about the shitcoin in the CryptoCurrency subreddit, pointing out its bogus executive team in the picture below.
It’s a timely reminder of just how perilous cryptocurrency can be as an investment. Along with being incredibly volatile, scams are becoming more frequent and more sophisticated. While Prodeum was a heaping pile of crap from the beginning, there will certainly be others that appear to be legit.
Make sure you do plenty of research before taking the plunge, friends.Image: Prodeum