ICO Scams Continue: Dying Kodak's Appears To Stall Before Starting

Eastman Kodak Company has announced that numerous "fake webpages and facebook accounts" are offering fraudulent KodakCoins for sale, despite the company not having the actual scam token available to the general public yet. Kodak executives awarded themselves company shares in the day before the announcement that they would license the brand to a "blockchain project company" which caused share prices to nearly double. Kerrisdale capital, a hedge fund, said in analysis of the project that "the team behind KODAKCOIN has zero credibility" and the chairman and founder behind the ICO is "a stock promoter that was previously banned from a Canadian stock exchange." Eastman Kodak Co. filed for bankruptcy around 6 years ago, with debts of more than $6.75 billion USD and has failed to make a comeback despite Citibank infusing it with $950 million in cash to prop-up operations.

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