The founder of Savedroid, a German-based startup, has ‘gone missing’ after raising $50 million through an ICO and private funding round. Only, er, he hasn’t…

UPDATE: Here’s a story that’s getting more bizarre by the minute. Savedroid CEO Yassin Hankir has now posted a fresh update in which he’s insisted that its ICO hasn’t disappeared, and that the whole thing has been an exercise in trying to improve standards in the sector. It’s a slightly odd way about going about things, you could charitably say. But here’s his update…

SAVEDROID WAS HERE, IS HERE AND WILL BE HERE!

After crazy 24h you for sure have many questions. We do owe you an explanation! Therefore our CEO @YassinHankir has recorded a personal message to resolve the situation. More info: https://t.co/LA5BVeZffy #savedroidICO #savedroid #ICO pic.twitter.com/ITNx7uTHG3 — savedroid AG (@savedroidAG) April 19, 2018

It looks like the whole thing was a PR stunt. The early consensus appears to regard it as a not very good one…

Here’s our original story from this morning…

CEO and founder Yassin Hankir appears to have raised the funding with no intention of investing it in his company, but rather using it for personal ends. When visiting the ICO website, you are simply greeted with a fairly self-explanatory South Park meme.

Meanwhile, Hankir has posted his activities on Twitter.

While this has all the hallmarks of an exit scam, nothing can yet be confirmed. Hankir has been rather brazen about his actual intentions since the ICO closed, however.

FinanceMagnates notes that Savedroid actually allowed people to participate in the ICO with 56 types of crypto, rather than just Bitcoin and Ethereum as is the norm.

BitCoin One has since posted on Twitter that, if Savedroid is confirmed as a scam, it will donate 100,000 BTCONE to vitctims.

CoinTelegraph