80% of ICOs are Scams

[Desperaboss]

There was an article about the success rate of ICOs in 2017, I read it, too. It it an community driven problem to think that one can make huge profits by scamming other people. I really hope the number of scam ICOs is going to be reduced after some regulations have been enforced.

[jaymor11]

Yes, i agree most of them are scams. One of the ICO scams was Bitcard, a startup that promised investors to develop a smart contract platform and biometric validator that would disrupt and overhaul the current way of conducting business. Shortly after the ICO closed, the project was disintegrated and the money invested was never recovered.This pales in comparison to ToTheMoon, a startup that promised its investors full-service mining solutions among other wild promises. Eager investors quickly bought the tokens and in one month, the ICO had raised $27 million. The money was never recovered and none of the team members’ whereabouts are known.

[yunuzov]

Unfortunately most of the Icos are scam that’s right. They are usually aiming to scam people with big promises and imaginary products but i don’t get surprised by scammers i get surprised because i can’t believe still so much people fall for it. We should have learnt from our mistakes by now. Be extra careful guys , cryptoworld is full of scammers.

[plr]

You are right majority of this ico are just hype because of this, the cryptocurrency is pushed to restrictions and regulations, banks do not want their clients to be victimized by these hype Ico only few Ico are legit and for a long haul.

[SleepMachine]

to be honest, I realize that not 80% ICO are scam. We must say that 80% ICO are failed. and there are many reasons for this fail. the team wanna scam or normally, they just can not mobilize enough money for project.

[xuan87]

Unfortunately I think the news is true, there are a lot of ICO that runaway with people's money, that is the first reason why Google Facebook or Twitter banning ICO ads, and to be honest there are nothing protect investors from being scammed, the research only can decrease the chance of being scammed, but 80 % is too high, some of the people refer scammed because the ico can't give them the profit that the owner's promised

[novaprime]

Unfortunately I think the news is true, there are a lot of ICO that runaway with people's money, that is the first reason why Google Facebook or Twitter banning ICO ads, and to be honest there are nothing protect investors from being scammed, the research only can decrease the chance of being scammed, but 80 % is too high, some of the people refer scammed because the ico can't give them the profit that the owner's promised

Personally, this is just a temporary act to manipulate the Cryptocurrency market because they want to prevent everyone from knowing the existence of this market. Personally, I still see ICO as a new trend for investors and before investing we should evaluate that project carefully because 80% of phishing projects are completely accurate and can increase to 90% in this year if no knowledge of investment

[JohnMacZeppelin]

Perhaps you are completely right about the number of fraudulent projects, I think that such analyzes have been done many times and almost always people come to about such figures.

[SaarMast]

This article is a joke

[gbenga88]

Some are real and while some are scam, becareful of what ico to join.

[Warren Buffert]

The bad ruin it for the good, these ico scammers should be ashamed of themselves.

[chaserdream11]

I can feel for all those who lost tons of money in ICOs. I myself have been burned by couple of them. Sadly i had invested large amount in one of them.
Since then i have stopped even looking into coins which are released through ICOs, irrespective of how promising they are.
ICOs only damaged the reputation of Cryptos. Have been looking into new ways of coin distribution and participated in many airdrops. But most of airdrops are shitty coins.

Have to give it to teams behind coins like Nano & DeepOnion. Nano distributed coin through Captcha and DeepOnion through Airdrop (Very successful one )
What fascinates me is that, both these coins have top notch technology and could have earned tons of money through ICOs. Would love to see more coins spread through other forms of distribution.

[FalconB]

It was expected, a lot of projects do not need blockchain.  Blockchainis now just a fashionable thing, they want to push it into any project

[andiko]

The most interesting thing is that no one says that the ICO scam if the price of the token is growing very much. At the same time, nothing can be behind the project.

[nakamote]

It should be 95% of these ICOs are scams ,that is why there are few projects who are achieving sucess in the market because a lot of shit scammers are doing fake projects that are created just to raise funds from the investors and eventually runaway when they have millions worth of cryptocurrency assets.I have been with ICO investments and theres no way to find out which of these ICOs are going to turn the table upside down.

[Winner]

to be honest, I realize that not 80% ICO are scam. We must say that 80% ICO are failed. and there are many reasons for this fail. the team wanna scam or normally, they just can not mobilize enough money for project.

If 80% of the projects fail then why are people investing in them? It would be nice if people actually supported the projects that they are in...

[ilya_gr]

Mmm, yeah, furthermore because of these scams, a lot of ICOs can`t reach their aims, even softcap, people stopped to believe in new projects
I hope we`ll see the recovery of all market soon, and many perspective projects on ICO with real technology and product, without any fraud

[cryptotitan]

As far as i know the number of scam ICOs are far bigger than 80% 1/10 ICOs are acheiving success,so it means there are less projects that are surviving the market that is why ICO investments are surely a risky thing to do especially when you arent good in researching or investigating every aspects you need to check before getting involved with these projects.

[Neymar10]

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 ...

Everybody knows about it for a long time. This is bad statistics because there are so many fraudsters on the market, I hope that the statistics will soon improve and people will not invest in SCAM projects.

[cryptodagger]

It should be 90-95% of the ICOs are scams,these people are the ones who are destroying cryptocurrencies reputation because these greedy people are going to suck up all of the newbie invetors money,most of the victims of these ICO are the new folks or newcomers in our community who doesnt know to do researching first before getting involved into something.