Advanced Bitcoin Technologies AG is discontinuing its **Savedroid** savings app after losing user support following a controversial joke. The company, which initially developed the app, now ceases operations for the platform amid declining public trust.
Savedroid’s $50 million initial coin offering (ICO) has been accused of operating as an exit scam, where developers allegedly disappear after raising funds. The company claims the controversy stemmed from a staged publicity stunt to highlight regulatory gaps in the ICO market. Critics question whether the project will deliver its promised blockchain-based automation tools for customer service.
Savedroid abruptly canceled its initial coin offering (ICO) after backlash over misleading claims. The blockchain startup attributed the move to a 'PR stunt' to test community reaction. Critics accuse the company of exploiting investor trust for attention rather than transparency.
Savedroid, a Germany-based blockchain project, revives its stalled ICO by introducing an ICO advisory service. The company shifts focus from its original token sale, which was previously labeled a potential exit scam involving $50 million. The founder now positions Savedroid as a consulting firm for other cryptocurrency projects seeking advisory support.
