80% of ICOs are Scams

[Kosmolet]

I think only 30-40% of ICO is scam.  Many ICOs do not collect the right amount for development.  There are very few successful ICOs.

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[deadthings]

In my opinion, ico projects are dying, more and more people think that is true.

If it will be that longer ico's will die for sure, it is sad because it used to be a good form of income

[commanderbitcoin]

They call it scam because majority of the ICO didn't deliver what they promised to their investors. Many of them just collect money for their own profit. Others gives a short timeline and under estimate the work to be done,  one reason why the development is still in process.

[watchurstep45]

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 ...

its sad to hear that 80 percent of the ICOs are scam. Choosing the right ansd legit ICO is quite hard now to pick but trust to those who are experts in crypto currency maybe it will lead us to gain more profit in inveating/trading coins.

[freedoom]

Unfortunately, it was inevitable that many ICOs would simply steal the investors' money. A lot of this pointed out, and lack of control over the ICO and the red market ...
But now it is not so easy to arrange ICO, introduced regulations and so on, so the number of scammers will decrease several times

[ylnar123]

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 cannot say ico are scam, because from the start they are zero and the team work for it and if I will be a success then it's up to them to continue or not. But yes, there are some ico that is using a good platform to lure investors to invest in their project and then scam the raised money for their own benefit. That's why from the first time we enter cryptocurrency we are warned that investing here takes a big risk,yet we take this risk in hope to grab a bigger profit. So don't complain and invest only the amount you can afford to lose to minimize the loss in case we joined on a scam ico.

[Rob768]

I doubt that.I think that the percentage of fraud in this area is much less than 80 and not have so negative tune

[Ksenia4Ksenia]

completely agree with the previous post that it is better to invest in the ICO money that we can lose. Free money. Investing in ICO is a big risk, as well as venture investments, you invest in an idea that may not be realized. To minimize risks, I advise you to study ICO very well and to study the assessment of several experts on these ICO.

[Griegura]

I think it's a much smaller percentage because I've seen a bunch of great projects with great prospects for the future and definitely not fraudulent.

[kakawin]

The number of 80% looks simply huge, but it can be true. Lately, there has been too much scam. Just choosing a good project has become much more difficult, it took more time.   

[billknight]

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 agree with you there are so many ICO scams in the moment. But I think only about 50% have the fraudulent ICO. There are many reputable ICOs and they want to develop their projects

[henryba]

there are a lot of scams, that's true.
but 80% seems like a lot of overkill to me.
I think that there are especially many bad projects, badly prepared, and launched by incompetent teams.
that's why when you want to invest in a project, it's very important to be well informed and not just follow a buzz or a popular project.

[Lindell]

Not 80% of ICO are scams. Maybe 20-30% are scams. There are spotting spots to find out that ICO is not a scam. In my research there are a lot of ICOs that are not scams. Others are mistaken for scams due to unsold big amount of token, but not scams.

[pelipurlara]

I do not think that everything is so bad because in this case I think that the ICO did not justify itself and people would stop investing.

If there are more projects like this, you need to worry about investing in them unless the team has a proven record. The high level of failed projects is an alarming factor to be cautious when you invest in luxury projects because most of the time it will fold in a few years and those teams behind it will move on with the millions they collect through initial funds

[zhangcaisbsbn55]

I think so. We can be cheaten by others if we are not careful enough. We need to make enough research while we do the the investment. The more careful we are, the better we will be. Just do the right thing.

[raddish]

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 agree very much to what you are saying. If you want to start anything new be it investing or doing your bounties to ensure your time is spend wisely you should do your own research befor engaging in it to lower the risk of being scam. If you does not do your own research you can only blame yourself if you are being scam along the way nowadays there are a lot of methods to check either using our famous search engine (google) or having a discussion here with members.

[PETES]

Not 80% of ICO are scams. Maybe 20-30% are scams. There are spotting spots to find out that ICO is not a scam. In my research there are a lot of ICOs that are not scams. Others are mistaken for scams due to unsold big amount of token, but not scams.

I think we should always trust our own guts because this will be the only thing that can help us through this. If we feel that it's too good to be true and devs aren't confident enough to answer every investors question. Personally, if I felt and see something shady then I'll stay away from it as early as I can. And so far all I icos that I felt that way are totally a scam one.

[1000 years]

Yes there are plenty of scam projects and they are making troubles for good ideas.

I want to know, what project I have ever followed and ended up with less good news that is ico scam?

[jankekek]

i disagree with your statement because based on the study of some crypto analyst, they found out that 90% out of all 100% ICOs are scam!

[mebeforeyou2411]

Although ICO is a scam, there are still many people who will invest in ICO, because it is a way for them to make money, so I think it is just a big gamble. I do not recommend participating in ICO.