Crypto banking startup vanishes after failed ICO

01 Jan, 2019 | Updated: 01 Jan, 2019
by Ryan Boltman
News
Crypto banking startup vanishes after failed ICO

Crypto startup Hush, which was looking to build the first participative, regulated, tokenized and cryptocurrency compatible bank, appears to have all but vanished following a failed ICO earlier this year. 

LiveBitcoinNews reports that the crypto startup appears to have disappeared after the ICO failed to raise enough funds. 

Hush was set to become the first cryptocurrency compatible bank with it's ICO launching in early 2018.

According to ICOMarks, the project was set to raise roughly $30 million for the ICO, which would go towards building the crypto bank concept. The ICO ranking website also gave the project a 6.7 ranking out of 10. 

According to reports, the ICO only raised $600,000, well below the hardcap of $30 million. The lack of raised funds could well be attributed to the downturn in ICO participation from the bear market. 

It now appears that the project has disappeared altogether. Consultants who worked on the project have reportedly not been paid. Sebastien Bourguignon, who states “I didn’t have any news from Eric Charpentier since June. He didn’t pay me for the advisory. I am in litigation with him.”

The Hush website has also been removed, along with the company's Medium account. Hush founder Eric Charpentier has also deleted all his tweets regarding Hush as well as removing his LinkedIn account. 

All signs point to a failed ICO leading to lack of funds to pay advisors and staff, or simply an exit scam? 

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