Kickstarter: Dodges A Bullet Worth $120,000 in Fraudulent Project

KobeRed

Crowdfunding is a phenomenon that is gaining more and more popularity and to most project creators, this is something to rejoice over as the “classical” path to getting funding is not an easy one.

However, crowdfunding platform Kickstarter avoided bad press and the tarnishing of its reputation, when it blocked the funding of a project called Kobe Red, a project aiming to provide high quality dried meat from organic beef, a few days before the funds had been released to the fraudulent project owners.

The Kobe Red project had received over $120,000 dollars and was backed by over 3,000 investors.

Apparently this isn’t the website’s first in terms of dealing with fraudulent projects however this certainly would have been the one to have hurt the platform the most. Back in 2012 a fake project gathered over $22,000 undetected by KickStart monitoring system.

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