Blockchain platform Loom Network has allegedly ceased trading according to a Cointelegraph report published earlier today.
The report, which investigated a number of the company’s communication channels, found that there was no proof of a live project anymore.
It was found that the project also had not posted on its medium blog since February 21, when they announced the then CEO, Matthew Campbell, had departed the project.
The Reddit forum has similarly been abandoned with no updates being posted for some time.
Loom no longer has an active Telegram either, leaving many to believe the team may have exit scammmed.
The news has come as a fall from grace for the block chain network which raised $45 million from an ICO in early 2018.
Partners of Loom Network are beginning to migrate over to the ambitious Indian blockchain project Matic including Stake Capital a former Loom Network validator and Blocklords, an award winning blockchain strategy game.