I found this from Suncontract on their thread after someone brought up Power Ledger:
We already stated why we have negative opinion about them. We went into business cooperation with them and paid for their service. We were promised they will give us working solution and assured us they have working blockchain solution. Final outcome of this "business cooperation" was they took money from us, they did not provide any solution (we actually think that money we paid them was used for marketing purposes like fancy web design etc.) and it looks like they are also lying to investors they have blockchain. And we signed contract with penalties etc. so it was ordinary deal with companies by international law. Now imagine what can they do in crypto sphere where there is no "law".
I'm sure there's 2 sides to the story, but still should be a reminder not to get caught up in hype, fancy web designs and paid YouTube shills when investing in ICOs. Research carefully.
Agree about often 2 sides but I can tell you that Power Ledger's block chain is alive and well so this post from suncontract has me very suspicious. I live in Fremantle near where the Powerledger platform is deployed. Seen it first hand. With so many projects with reputable counterparties they can't just be pretending they have something. saw this yesterday.
https://www.youtube.com/watch?v=sx19xO0PQ_s&feature=youtu.be Agree tabloids could be dodgy too but this press is mainstream - mainstream financial press don't make this stuff up. Also - if they were dodgy would they have taken this ICO offshore. Since they have chosen to run it under Australian law I am absolutely believing them. To me there are just too many holes in Suncontract's comments.