80% of ICOs are Scams

[carrymentality]

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 understand what you're saying. But, instead of using the word "scam", I think that it's better to see them or label them as failing ICOs. As you know, there are so many ICOs popping out seemingly on a daily basis in this market. Therefore, it's harder to find a concept and a product that could prosper with higher chances, thus, more people would see ICOs as some sort of scams, and would mistake those projects that didn't really have a chance to stay afloat as scams.

[1714608799]

1714608799

[1714608799]

1714608799

[1714608799]

1714608799

[1714608799]

1714608799

[Transformer0101]

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 think it's a little bit higher in my opinion, every day we have a new airdrop ICO coming and there's no guaranty that these are a legit project, it's like a gambling or an early bird scenario, some of these can manage to go to exchange but after a few weeks or months their price drops to zero

Here you can not be sure that the company is not scam. Today there are so many new ICO, and you never know what will be good and what will not.

[judaspriest]

actually not like what you say, in fact new ico keep popping up. that means many investors really believe in the crypto business. I admit, there are many ico that fail and do not run according to the concept and plan, some ico become garbage. but I think for the future, there will be a lot of innovations and ideas in stretcher by ico. and most importantly we must have a regulation that protects investors from scam actions.

[Trollinator]

I would say that 80% are scams, but 90% will fail. Choose wisely friends!!

[carlisle1]

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 ...

so its not bad because for me its 95% ,and only 5% comes to trading exchanges..thats why if youre going to join a bounty,ico projects make sure readiness for being a victim is on youre way.then we have to be aware of that.though some of them becomes very successful and great profit awaits all of us.so just take the risk of dont get any

[asstruz]

Seriously, you are right because ICO that become successful nowadays is very small, what am looking forward to is that, there should be a regulatory authority that should be in-charge of ICOs.... At least, this will limit the scam of project. Am looking forward to that.

[wpalczynski]

I'm really surprised about this percentage being so high.

I've been involved in quite a few ICO's and bounties and I've only encountered one scam in an airdrop/ICO.

I believe if you do your research thoroughly, you don't have much risk of getting scammed.

[hardalisas]

If an ICO without the ability or intention to follow its roadmap is considered as scam, more than 90% of ICOs should be scams.
Most of us know that, but we also know many ICOs will be pumped before it dies slowly.

[IcoGuide.com]

Take a look at an article regarding scam ICOs on our website https://icoguide.com/en/blog/how-to-identify-scam-icos

[Angelia46]

I don't quite agree with that.
Even if these projects are currently just hype, they could still be the top project in the blockchain in the future.

[Revi250cc]

Sadly researchers did not make any research on how to identify the legit projects with 99% accuracy or in fact I will put my stakes in may ICO that has 70% of chance for its success in the future. I mean that would be dream come true if there is any analysis that goes like that way, what do we have to loose if we are already loosing thosuand like that.

Also good news is we do have 20% of ICO that are in good position while 8% sure shot ICO which can make it upto the exchangers. Hm, I thought the era of ICO is already finished but there is still ray of hope mate. !

I think we're entering a whole new era RIGHT NOW. I'm newer than most here but what I've read and determined as fact, utility tokens and if you saw the April 10th, 2018 report on Golem - Wow + a ton of new players in the game like Zeex really blew me away, exactly what I've been waiting for:)

[IlfarIldarovich]

Those people who have more or less understanding of project evaluations can easily avoid scammers. The other thing is that most people are still naive and continue to believe the loud promises.                  

[terlesbogli]

Yes many ico's are scams they build a fake website and taking advantage their knowledge in crypto to scam people who don't know very well in crypto so peoples are scam. Nowadays it's hard to get a legit ico to join but research is the key.

[Revi250cc]

Those people who have more or less understanding of project evaluations can easily avoid scammers. The other thing is that most people are still naive and continue to believe the loud promises.                  

Ilfar do you have any links for checking ICO ratings? ..preferably sites with really good reputation:)

[Revi250cc]

Yes many ico's are scams they build a fake website and taking advantage their knowledge in crypto to scam people who don't know very well in crypto so peoples are scam. Nowadays it's hard to get a legit ico to join but research is the key.

I asked Ilfar as well, do you also have any good reputable  sites for research?

[jerry29@]

Yes you are definitely right. I have found too many scammed ICO. They just only want to rob you as much as they can. But there are very good searches available to check whether a ICO is  scam or not.
Do proper research before investing in any ICO.

[jekyde]

Yes, you are right. There is too many SCAM ICOs at this moment. But also you can find the most profitable ICOs.  For example there is lccx.io - looks like promising exchange based in London.  Well developed white paper, experienced team, located in politically stable jurisdiction.

[Everglow]

Why 80% despite of almost  I thinks almost ICO in this time just was concept, and no thing can guarantee it'll become real in the future, ICO is same with Venture. The successful of ICO depend on Marketing, they'll attractive more investor

[dasha_buka]

In fact, probably even 95% of all ICOs are scammers. The problem is that any big money attracts scams, which then kill the ecosystem of the entire business. It's sad.

[hardhouseinc]

I have read about that study and unfortunately many people are being scammed by ICOs so we need to be very careful