The world of eSports was in shock when the famous eSports franchise known as Titan decided to close down this 2016. The Singaporean organization was known to be one of the most well known names in the world of eSports. Titan CEO Damien Grust announced that the decision to close down was due to financial difficulties. After the huge hacking scandal that happened early in 2015 involving major Titan player Hovik “KQLY” Tovmassian, things started to go downhill for them. KQLY admitted using cheat codes that were banned by Valve in game servers. There are several accusations that claim that he used those cheat codes in big gaming events too. However, those claims were denied by KQLY and were also never proven.
The scandal damaged the reputation of Titan and eventually destroyed the company completely. Because of the scandal, many sponsors and affiliates who were working with the organization decided to pull out their support as they do not want to be associated with an organization whose name has been dirtied.
Throughout 2015, Grust has tried several ways to save the company by trying to merge with other companies or by selling out shares cheaply, but nothing worked. He has also tried pumping more money into the company to keep it running and hoping that more sponsors would come. The team even delved into the murky world of CS:GO skins for sponsorship funding.
This all happened while the CS:GO team SMITE has been competing in the CS:GO world championships for MOBA. SMITE, the CS:GO team under Titan, has been one of the most successful teams in the world of eSports. Known for the colorful and unique character skins that they use in games, SMITE was able to bag a lot of gold for Team Titan. During January 2016, SMITE disbanded following the closure of Titan.
Being one of the most successful names in the eSports industry, the dissolving of Titan definitely came as a shock to many followers.