80% of ICOs are Scams

[Schultz88]

I think its the process of ICO to get better in the future, if there are a lot of scam now then in the future this industry will get better and many legit project and the participants will be more competitive.

[mummybtc]

I can't say the percentage is upto that, because an idea won't work don't make it a scam, what I can say here is that definitely there are some projects that are obvious scam, and some developers don't know they are committing fraud also some projects won't work, so if I sum all these together I think it is more than 90%

[Tylev]

I do not think that the figure of 81 percent of ICO fraudulent projects is true. Earlier, it was announced that 902 ICOs were conducted last year. Only a third of them were directly fraudulent projects, and the total number of fraudulent and failed projects was 46 percent. I think this figure is more real. This also corresponds to my practice. Still, most of the ICO projects in which I participated, ended successfully. Therefore, I do not think that the current situation with the ICO is so tragic. Now there is a need for the regulation of ICO projects, but in any case they are very useful for the development of the crypto currency.

[kaspabha]

Yes. Many ICOs are fake and scams. It is very difficult to identify a good ico. But ICO investment is the best way to make profit. You should have a good knowledge and experience to identify a good one.

[Ulanisohon]

Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272

I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share

Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”

"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”


DYOR people ...

I don't agree that 80% of ICOs are a scam.
However, there is a sense in the above.
Against the backdrop of the lightning successes of such ICO as EOS, Tezos, Bancor, the interest of  startups to the crowdsales has greatly increased. Everyone, whom not laziness, began participating in ICO. Of course, this as a result adversely affected the market of crypto-startups as a whole. Triple of this effect was clearly reflected now, when the market met  another regular correction
At the same time, as before, many ambitious and promising start-ups with real ideas and intentions are coming out to the ICO. Many don't get to finish what they started, but this is typical not only for crypto industry.

[dashunka]

That's why it would not be fraud and you need to register ICO. and about trading on the stock exchange, not everyone will be able to do it.

[robynmario]

I think this is true. Because we are in a market that does not have strict management and strict inspection of licenses and certifications to operate in the crypto business. Therefore, any form or team can build and form capital mobilization. That means, it carries a certain amount of risk if we do not look carefully, we can lose our money.

[FilliDorros]

Yes. Many ICOs are fake and scams. It is very difficult to identify a good ico. But ICO investment is the best way to make profit. You should have a good knowledge and experience to identify a good one.

If you want to invest in different ICO, you need have a lot of money, and start investing from 1000$ and more.

[sgenuine]

Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272

I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share

Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”

"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”


DYOR people ...

Unfortunately, I will dare to guess that this percentage is even higher. However, I will never say that there are no good and trusted ICOs. I know a lot of great projects that helped investors getting great profits.

[Victorheywhy]

Well, you may be right, but there are still some ICOs that are really great. I've witnessed lots of them even as a bounty hunter. There are also lovely ICOs that favors investors. So, it all depends on the manner of intelligence we execute in discerning fake projects.

[joeydangerous]

It depends on what we call the scam.
Perhaps 80% is even too optimistic estimate

The project developers don't know how to do any coding nowadays, that is why their projects fail. They can't just outsource while expecting their project to work.

[fetokun]

Even if one does their own research no one see whats going behind the ICO devs mind. Because creating a fancy white paper with pretty graphics and a beautiful website is very easy. And thats what most of the new people see and call it their research. One is better off just avoiding investing in ICO at all.

[melekseverce]

The truth is that, most icos are scams as they dont have a working product and they give vague promises and are there for the quick money

[ronni01]

Yes, the ICO now has become very muddy, more people want to make money quickly, and people who think for the future always take for something good and they have successful ICO

[minnerETN]

Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272

I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share

Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”

"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”


DYOR people ...

I totally agree with your opinion. Only a few ICOs are good, they do not want to cheat the money of those investors. They mobilize capital only for the purpose of developing their projects better. but also many bad people, they created the ICO and scam

[Iamdeadlyz]

yup you're right, also regarding centra which supposed to be an "amazing" ICO but the founder got arrested
so we should research well before investing 

[mightcoin]

I agree with the author. It is becoming harder and harder to determine which projects are real, which are scam. The situation with DENARO impressed me, because it looked like a very ambitious project. I even invested money in it. I regret very much that I did it.

[Aqcizromencez]

Yes, you are right now a lot of Ico scams this is very in pity for ico future social media also forbids ico because they do not want to be a big deception bridge,,and things like this too making investors hesitant to buy and ultimately ico will die for fraud under the guise of ico and now so difficult to assess fraud projects or not..

[cryptohoodz]

It's an interesting statistic. Another report showed that 50% of all ICOs fail, but that does not mean that they are all scams.
Generally speaking, almost all ICOs are still ideas on paper without a real product/protoype. People are willing to invest their money based on nice ideas so it's logical that it attracts a lot of scammers. For the surival of this industry, it's good to have more regulation to make sure people don't get scammed too much.

[Sidas_Crew669]

ICO is now a lot to play half why so? because so many fail not to know what happened maybe people will think that investing in ICO is difficult