Scammers Targeted Seele ICO

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Two scammers posing as Seele admins scammed more than $1.8 million worth of ether from investors before the official Seele ICO launch.

Seele ICO

Seele is German for “soul”. It bills itself as the *”blockchain 4.0″. The ICO for Seele is not yet open but scammers were able to penetrate and act as admins.

*blockchain 4.0 – It will provide large-scale and secure collaboration between individuals and large organization. If the current cryptocurrency like Bitcoin and Ethereum slow down because of the vast number of nodes, Seele’s efficiency is different. The more nodes it has, the faster it gets.

Read More: What is ICO

Seele Scam

These scammers posed as Dr. Nick Smith (@nicsmith), a data analyst at Seele, and @seelesupport. The scammers asked money for a “private sale” of the token.

The scammers managed to contact Seele investors via Seele chat over the DM feature for ether.

Seele responded to the complaints about the “private sale” scamming.

We are deeply sorry for the problem caused by the ā€œ@seelesupportā€ and ā€œ@nicsmithā€ scammer and are taking full responsibility for it. We care about our community and are taking all necessary precautions to prevent something like this from happening again.”

Because of this deception, Seele admitted that members of its community have lost their funds. Seele promised to look into the situation and find a solution over the lost funds. Here’s another post:

They also identified the scammer’s wallet address:Ā 0xB3239EF7a0fC08d56402a44A5367b8cdDaf295b8Ā and is now worthĀ $1,875,622.75 by press time.

A lot of Seele members in the Seele Telegram channel think that this is an inside job as only an admin can make someone else an admin.

Scamming is not new in this booming industry. This is not the technologies’ fault but the people who abuse its “new” nature. It is as simple as, if somebody’s asking you for money – don’t. If it’s too good to be true, then it probably is fake.

Read More: Cryptocurrency Scams and How to Avoid Them

Source:Ā Cointelegraph, Finance Magnates

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