5 Intersting ICO Scam. Wait! Did i heard Floyd Mayweather?

[Earl Edward]

The most recent one (April 2018), and apparently the largest ICO scam so far, was conducted by the same company which launched two projects — Ifan and Pincoin. This was a marketing scam — they convinced 32,000 people to invest. After that, the owners ran away with more than 660 million USD. Ironically, Pincoin’s slogan was “Sharing is Caring.”

Onecoin has been subject to an ongoing investigation for over 18 months. Five countries have published reports, warning investors about the Onecoin cryptocurrency. Chinese authorities have seized over 30 million USD from the company.

Then, you have heard about Bitconnect, right? Bitconnect was a typical Ponzi scheme. They had a landing platform that promised investors huge amounts of interest. Authorities have estimated that 700,000 USD of investors’ own money was lost.

Plexcoin was even crazier — they were promising 1,300% monthly returns. This in itself should be a huge red flag for all investors, yet many were still convinced to invest in this ICO. Luckily, the SEC (the U.S. Securities and Exchange Commission) classified the Plexcoin cryptocurrency as a security token and was able to freeze their accounts and stop their operations completely.

CentraTech was endorsed by superstars such as Floyd Mayweather and DJ Khaled. However, they were also promoting to have partnerships with Visa and MasterCard which ended up not being true. CentraTech’s two founders were arrested on fraud charges, pressed by their own ICO[?] which had meanwhile raised more than 32 million USD.

Source: Timotej Bodlaj`s Blog

[shitcoinoffering]

As to interesting ICO scams, you can read about it at shitcoinoffering.com.

[boyptc]

Finally bitconnect is totally dead because will be delisted to the last exchange where it can be traded --> https://thenextweb.com/hardfork/2018/08/10/bitconnect-final-delisting-exchange/

[elliottkuhn]

How find projects good,when scammer on the internet very much ?
The ICO project bad is always a problem I make because I lost money and time 

[tnguye01]

This is crazy!  This is what happen when people don't do research and jump on the band wagon hoping to be rich: 

https://www.ccn.com/vietnam-investigates-alleged-660-million-ico-fraud-of-pincoin-ifan/

[justin86]

Most ICOs are definetely scam and almost all of them are not profitable but still it is one of the hot topics in the forum, I think because of the number of newbies

[Kunzaii]

Most ICOs are definetely scam and almost all of them are not profitable but still it is one of the hot topics in the forum, I think because of the number of newbies

Agree. But you never know for sure... In my personal experience 1/10 is a scam.
Curious to see which ones survive

[jseverson]

How find projects good,when scammer on the internet very much ?
The ICO project bad is always a problem I make because I lost money and time 

You simply shouldn't waste time and money on them. If you're going to support an ICO, don't do so because of profit, do so because you actually believe the project is worth investing resources on. People used to be able to make a lot of money on ICOs, but that has gotten a lot harder since.

For some perspective, one research found that about 80% of ICOs are scams and that only 8% were decently successful enough to land on an exchange.

[time2.coffee]

Do you think ICO will be considered as scam if it aims to solve global problems and team only gives a promise to move this way and continue its research - like immortality (:-)) or bringing water back on Mars. Will such ICO be a scam, what do you think)?

[Panat]

Very cool post. Didn't know anything of this. Thank you.

[Velkro]

Most ICOs are definetely scam and almost all of them are not profitable but still it is one of the hot topics in the forum, I think because of the number of newbies

It has changed. In years before every newbie was starting about mining question, now they start with ICO question. They have no clue in either of this things so this is scary what will be the next big thing for new people. They all should start from basics, buying bitcoin, this is true and safest investment, in real technology that is here.

Want to take shortcut? Bad things happen then.

[r1s2g3]

Source: Timotej Bodlaj`s Blog

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