The Ethereum Classic ETCDEV comes to an end after two and a half years of service

Ethereum Classic [ETC], one of the main cryptocurrencies and smart contract platform, is back in the limelight. However, since the last days, the news on which money has been linked has been only unpleasant. Now, the company Ethereum Classic Development issued a statement on their Twitter account stating that they would discontinue their current assets. Moreover, this news comes to light a few days after they have published a statement on the safety of Classic Geth.

Igor Artamonov, founder and CTO of ETCDEV stated on Twitter:

"It is with great regret that I immediately communicate the closure of ETIDEV's current activities related to Ethereum Classic.As publicly known, we have struggled to finance our operations in recent weeks".

Artamonov went on to say that the main reason why they failed to raise funds was because of the market crash. He also said that the company's cash flow is also an added factor. The announcement also stated that they were unable to secure short-term funds despite appealing to investors inside and outside the ecosystem, as well as establishing a community fund.

ETCDEV was a development company built on the Ethereum Classic platform. The team was responsible for maintaining the main customer of Ethereum Classic, Classic Geth. The other projects included Emerald, Emerald wallet and SputnikVM.

The development team has maintained the classic Geth since the success of the famous DAO fork, resulting in ETC and ETH. However, Artamonov recently declared that he had lost the administrative control of the organization of the Ethereum Classic community along with the classic Geth.

On the same day, the Founder declared:

"We would like to announce that ETCDEV is currently experimenting with an attempt to capture all of its properties, including the code, and an attempt to attack our developers, which we are trying to prevent."

This was followed by Artamonov speaking of the whole situation on his Medium blog titled "On the Attempt to Conquer Ethereum Classic [ETC]'. In the post, Artamonov claimed to have lost access to funds that were to be used for the development of ETCDEV, with whom he contacted ETC Labs and DFG for financial assistance.

Furthermore, the Founder claimed to have provided access to Krykoder, a representative of DFG, due to their request. However, the representative removed the access of all other administrators and was charged with copying all the ETCDEV projects in their repository.

He said:

"Removing an administrator is not a simple task: GitHub requires a special confirmation and password and must be executed multiple times for each administrator, which can not be done by mistake because ETC Labs, together with ETC Coop, is trying to portray no "

Moreover, according to Artamonov, ETC was under social attack and orchestrated by ETC Labs and DFG.

DerSchorsch, a Redditor said:

"ETC has never had a real use, apart from serving as a pump and exhaust from Barry Silbert / Digital Currencies Group."

Wanted to wait, another Redditor said:

"Completely shilled by Charles Hoskinson who made Eth classic was doing amazing things when they could hardly make me wonder if Cardano is a legitimate project or just a ghost page with a good visual update page"