Omnitude team exit scams on its investors, token dumps -82 percent

Omnitude token, ECOM, has been around from many months now. But ECOM’s value fell -82% percent today after following statement was issued on their telegram announcement channel.

The funding has been delayed even further, with current timelines looking like 3+ months away.

I feel like we have been seriously and continuously mislead for the past year by the funding, despite having signed contracts and constant assurances and are now too far in to make alternative arrangements.

We have no choice now but to cease operations until further funding can be obtained, this is something myself and Jurie will be exploring, whilst also having no choice but to seek other employment.

Over the past few months we’ve explored hundreds of other avenues to try and avoid this, but currently there isn’t any investment appetite for blockchain.

I’m absolutely gutted it’s come to this, and have at all stages acted in the best interests of all token holders, whilst myself losing a significant amount of money I put in to start the company.

I’m not giving up on Omnitude, but also need to pay living expenses whilst searching for funding.

Well, there you go. Omnitude was all about bringing blockchain technology to businesses and institutions. It was supposed to be a hybrid blockchain platform but ended up nothing more than an ERC20 token where the team ultimately exit scammed on its very own investors.