New Loom Network CEO clarifies concerning information published by former employee

One of Loom Network's former employees recently leaked information about the company's Kickstarter-funded game, Relentless.

The leak alleged that the project, and potentially the entire Loom Network, were no longer actively being developed.

The former employee, who has not worked for the company in over a year, claimed that the issues largely stemmed from Loom's former CEO, Matthew Campbell.

Campbell left Loom in Feb. 2020, and was replaced by a new CEO. "Dilanka accessed our Kickstarter account without authorization and sent out that rambling update," Vadim Macagon, the current CEO of Loom Network, told Cointelegraph on Sept. 24.

Loom conducted its initial coin offering, or ICO, in 2018.

Loom responded to the article through Twitter, asserting the company was still very much alive, but wading through a transition into government and healthcare-based enterprise blockchain work.

Dilanka went on to cite a number of issues around the Loom Network, including a lack of communication, as well as questionable actions from former Loom CEO Matthew Campbell.

Loom Network reportedly put more than $1.5 million into building Relentless.

Loom Network's current CEO, Macagon, provided insights from the other side of the table.

"Dilanka didn't lie about the fact that Loom spent more than $1.5 million USD on the game, after all, it was part of our core thesis during the first stage of our startup." Macagon explained the Kickstarter funding resulted in less than $300,000.