Confido
Rug PullPayments · born 2017 · ✝ 2017
A smart-contract escrow startup that escrowed nothing.
Confido was a 2017 ICO pitching smart-contract-based escrow and payment tracking for physical goods. Days after the token sale, the founders deleted their online presence and disappeared in a textbook early ICO exit scam.
- Peak
- ~$375K raised
- Cause
- Rug Pull
- Year of death
- 2017
☠️ Cause of death
The anonymous founders scrubbed their website and social accounts and vanished with the raised funds shortly after the sale closed.
📓 Lessons left behind
- —A whitepaper and a website are not a real product.
- —Anonymous founders raising upfront is the canonical ICO rug.
- —If the team can delete itself, so can your money.
🌱 The idea that survived
Milestone-based escrow
Helped normalize releasing raised funds against verifiable milestones rather than all upfront.
#payments#ico#exit-scam#rug