The company behind Reef – claiming to be known as Squid Networks – has an extremely weak incorporation. The majority of their team have nothing but schooling and menial work behind them and have no industry or technical experience. Their company was founded for the sole purpose of raising money for this project. They also have no financial staff listed.

We are very concerned when examining ICOs which have no supervision of funds, and no exit scam proofing.        

The Reef project is a risky investment. It has not been audited and no ICO Fund Supervision Scheme has been set up.