There are more than 1000 dead ICO projects in the world

Home » FINTECH » There are more than 1000 dead ICO projects in the world
There are more than 1000 dead ICO projects in the world

As of the end of June 2018, there are more than a thousand cryptocurrency projects that actually ceased to exist.  Among the main characteristics of such projects are: no hints of any developments or future activity, as well as frank scams, including BRIG, the fraudulent project of the brothers Jack and Jay Brigov, Titanium, whose investigation is handled by the Securities and Exchange Commission USA (SEC), CryptoMeth, Droplex, OreoCoin and RouletteCoin. It is noteworthy that all these dead projects attracted several billion dollars of investment.

As the newspaper notes, despite the fact that financial regulators of different countries constantly check the issuers of tokens for legitimacy, amateur investors often neglect the basic rule, which requires at least an initial analysis of the project, and invests millions of dollars in extremely questionable coins.

In addition to the widespread “disappearance” of project authors and “hacker attacks”, there are also very exotic legends of closing sites, for example, the sudden “death” of developers.

The results of the Satis Group study showed that in fraudulent ICO in 2017 they collected more than $ 1 billion. 271 projects were convicted of plagiarism when drafted in white paper, had employees who pretended to be other people, or conducted other dubious activities.

An additional study showed that only 8% of the tokens after ICO were able to get to the well-reputed exchange.

“Clearly, the ICO market is full of hype and fraud. According to my observations, 80% of projects were fraud, and 10% lacked content, which is why they “died” immediately after receiving funding. It is likely that most of the remaining 10% of projects will also fail, “Bloomberg financial analyst Aaron Brown said.

  • bitcoinBitcoin$5,104.21
  • ethereumEthereum$165.16
  • rippleXRP$0.331331
  • tetherTether$1.00
  • eosEOS$5.38
  • stellarStellar$0.116518
  • litecoinLitecoin$80.14
  • cardanoCardano$0.084087
  • tronTRON$0.026786
  • moneroMonero$66.34
  • iotaIOTA$0.320361
  • nemNEM$0.068109
  • dashDash$120.13
  • neoNEO$11.33
What is Cryptocurrency? How to Use, the Future of Crypto, the History of Bitcoin
Cryptocurrency market is actively developing and expanding. This relatively new industry is causing a lot of questions and attracting a huge number of investors, businessmen and ordinary people. “What is the future of cryptocurrency?”, “How to choose cryptocurrency exchange?”, “How to sell Bitcoins?” “What about cryptocurrency mining”? Millions of people read cryptocurrency news everyday and […]
2019-04-08 0 49
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-20 0 46
Bitcoin, Ethereum, Ripple, Monero, Dash, Tron: major differences and features
Investors see different names of cryptocurrencies and the movement of their courses, but typically don’t even know why the digital coins are so popular. Most of us have already Googled “How to buy Bitcoin” or “How to sell Ethereum”. Cryptocurencies are becoming more and more popular: Bitcoin price is fluctuating and its value is not […]
2019-03-19 0 45
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 43
© 2017–2018