Missing funds from Substratum ICO: Twitter and Reddit investigate

09 Jan, 2019 | Updated: 09 Jan, 2019
by Alberto Arnaldo
ICOs
Missing funds from Substratum ICO: Twitter and Reddit investigate

Several issues are being reported regarding the BTC, ETH, XRP, BCH and LTC raised by Substratum during their ICO.

The first problem reported by Decrypto was the lack of coincidence between the amounts of BCH raised and those which were later transferred out of the account. Apparently, about 702 BCH were not accounted for as donations, although they ended up being mixed with the rest of ICO-raised funds.

The misrepresentations of amounts raised are also similar in the case of LTC and ETH funds.

Questions about the handling of ICO funds by Substratum extend beyond the exact amounts raised, delving also in the whereabouts of the capital.

Further doubts seem to affect the promotion strategy of Substratum, with accusations emerging regarding opaque payments to advisors and/ or influencers:

Reddit users took upon sharing previous concerns that affected the supposed partnerships in which Substratum has claimed to be involved, to quite some lack of concretion in so far.

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Read more: Is there something fishy going on with Substratum's new partnership?; Substratum to trade ICO funds in order to maintain capital as ETH price drops

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