Cryptocurrency Exchange Reimburses Victims of Apparent ICO Scam, Confido

Cryptocurrency exchange KuCoin has announced that it will reimburse investors who used its platform to invest in the Confido initial coin offering (ICO). The Confido development team announced that the project has been shelved after raising $347,000 in an ICO, leading many to call the ICO a scam.

KuCoin’s announcement is excerpted below:

“So far, after making our best attempts, KuCoin team is still not able to have an effective communication with CFD team and comprehend their updates. To ensure users’ interests and minimize the loss in CFD asset investment, KuCoin provides users an emergency solution … for all the KuCoin users who had made CFD trades … KuCoin is going to trade users’ purchase net value at the rate of 0.0000038 BTC (approximately $0.03)/CFD and directly deposit into users’ accounts.”

The exchange plans to have all users’ accounts credited on or before November 30…

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