Initial coin Offering Confedo is a scam, that is already clear. But what shall do those poor investors who have already invested their real money in this virtual scam?
KuCoin, a cryptocurrency exchange, has already announced, that they would compensate the victims of the fraudster all losses. After Confedo development team has announced that the project is closed, after collecting more than 300,000 USD, the Confedo coin was called a scam and many investors wishes to return their money. KuCoin announced that they have failed in the negotiation with the Confedo development team and hence, they offered an emergency solution for investors who have suffered. They would trade the purchase net value of the users at the rate of about 0,03 USD / CFD and deposit it directly to the account of an investor.
The CFD fraudster became possible due to the absence of the proper regulation, due to the fact that investors have to rely rather on the fairness of the developers rather than on anything else. This case has deteriorated the trust to ICOs and at the same time showed that there are huge opportunities for scammers in the cryptocurrency field.