Pure Bit lured investors in with promises of a rewarding ICO then mysteriously vanished, taking 13,000 worth of ETH with them.
The South Korean exchange is accused of pulling an exit scam after raising nearly 13,000 ETH ($2.7 million) in ICO funds. A few months ago ICOs were banned in South Korea. In response, the team behind Pure Bit operated anonymously. It’s likely that investors weren’t wary of this, as investing in cryptocurrencies is extremely popular in South Korea.