Overview after ICO:
- in February, one of the co-founders Patrick Dai was involved in the scandal. He used to work on the decentralized marketplace BitBay but under another name — Steven Dai. As one of the developers says, when BitBay raised money on the pre-ICO, Dai took 200 bitcoins (well, stole, in fact) and refused to keep working on the project.
Dai denied everything at first, but after lots of evidence started popping up online: messages, photos, — he admitted his guilt. The only truth is that he actually worked on BitBay. According to Dai's words, after he realized that the project was fraudulent, he stopped working on it and didn't take any money. In the official letter, the team of Qtum claimed that they knew nothing about his past and support Dai's version of things.
Eventually, the scandal came to naught. At the end of July, Dai has been named to the Chinese edition of Forbes magazine's «30-under-30» list of young innovators, entrepreneurs and leaders.
- On September 4th, The People's Bank of China declared ICO's illegal. According to the report, all launching ICO's should be stopped, and those who already conducted it can be badly punished. Qtum is registered in Singapore, so the decision of the Chinese government won't affect the company that much.
Nevertheless, the developers had to declare the tokens' buyback for those who bought them at Chinese crypto exchanges. The selling price will be equal to ICO: 3800 Qtum — 1 bitcoin.
Other platforms reacted differently: the Yunbi Exchange delisted more than 10 ICO-related tokens, including Qtum. The ICO365 exchange simply forcibly took Qtum tokens from customers and returned bitcoins to their ICO wallets. The developers promised to help but noted that they couldn't influence third-party platforms.
- Qtum periodically publishes the financial reports on their expenses. The latest one was out in early August. During that month, the developers spent 140 bitcoins, since the ICO — 979,5 bitcoins. They haven't earned anything so far.