80% of ICOs are Scams

[quthmvpv]

The research data on this Twitter are correct. I even think that the probability of ICO failure is more than 90%. Now there are professional ICO swindling teams. They only offer project concepts and white papers, and others do nothing but start to raise money.

[drm]

More than half of the ico's in 2017 have failed, were those all planned scams?
Maybe some of the ideas are just not feasible despite getting enough investors. All in all I think you're not that far off with the numbers, maybe a tad high.

[jakiro.hovard]

This is the statistics and it is very sad, because today there is really a lot of scams in the crypto-currency industry, I think that many people agree with this, but it is necessary to solve it on their own, and not by involving state structures.

[AlanShlafter]

Some of the ICOs can be scam, but I don't like to say scam to the ICO's that became unsuccessful that couldn't reach their softcap or hit the regulation walls. Naturally most of this startup can fail, that doesn't make them scam projects.

[stunedi]

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%

[Ward]

There are some types of scam projects. First is when developers take away collected money. Second is when investor receive token, but nowhere he can sell it. Third is when developers do not perform roadmap. May be can be other types of scam projects. I think all such ICO occupy 80% of total amount

[Hudora]

That's not so. there are a lot of projects that really monitor their work, they just have too little Finance for this, unfortunately

[murinked]

Yes, now there really is a lot of scam projects.  But much less than 80%.  I think about 30%.  Not more.

[BertoloyBTC]

I am a believer but to the point that I do not agree the findings that 80% of the ICOs are scams , not really that figure no one shows as the statistics , I do not say that there is no scams but there is a few we can not prevent that , but not to many ICO scam i believe in that.

[Cokodi]

In fact, I want to agree with the author of this topic. Indeed, about 80% of the projects are fake, but in order not to fall into this situation, it is necessary to clearly analyze the project before investing in it.

[Kasabus]

In fact, I want to agree with the author of this topic. Indeed, about 80% of the projects are fake, but in order not to fall into this situation, it is necessary to clearly analyze the project before investing in it.

Our future on ICO investing is solely depending on us, if we will be responsible, we can always invest in a good project.
There are a lot of successful ICOs and I have seen people who are successful also in putting their money in a certain ICO, so it's not impossible to succeed.

[harshmonty3]

Yes most of the ICOs are scam or never hit exchanges.You should research about the team and their previous projects.
Invest only that you can afford to lose.

[HERMESH KAUR]

Absolutely, it is fact that most of the ICOs are scams and It is very hard to find out the original projects of cryptocurrency and scammer found good way to earn money and leave.

[KingOfWinterfell01]

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 ...

If you do your reaearch well and get to know the company behind the ICO, we wouldn't have this kind of thread here. 80% is a big number of scammers out there and we should adapt to these numbers by properly doing our background check of the people behind the ICOs we're currently following.

[ichai]

Too big a figure. If there was such a percentage of scams, I think such concepts as bounty and airdrops would disappear from the ICO. The fact that the ICO could not implement the idea, there were not enough resources and the like is not considered spam. The Scam is when the project just disappears and anything about it and never heard.

But in fact, the scam ICOs are new to the market, so to prevent them, we should carefully examine before deciding to invest in them, according to me the necessary elements to Evaluating a potential ICO is a white paper, community, road map, and coin clear pricing, and ultimately a management team review.

[kissme09]

I acknowledge to you that 80% of ICO projects have failed and that these projects are designed to capture investors' money directly or indirectly. Projects can earn vast amounts of capital, but developers do not make promises to investors and gradually take away all the money from investors.

[maitexisi]

I agree that 80% ICO is a fraud. In fact, they just had a team that couldn't deliver. Always conduct a team survey before investing in any ICO. That's why people are more cautious about ICO now.

[kajiado]

Developing a product is hard and takes a long time... selling and marketing it takes even longer... most of the ICO founders cannot go through this because they already have the funds and dont need to return them.

[Sasha Lumerin]

I think it is not a scam .. but the failure of ico project developer. so they do not pay or maybe with sales below ico sale price .. if the project is successful they will pay and launching it will be in accordance with their program .. we try to just search cautiously ico project that is about to be successful.not necessarily in choosing project developer

[CoinCollect]

Personally, I agree with the author of this post. Indeed, about 80 percent of all ICO projects are fraud. There are some projects that simply do not survive after entering the stock exchange. The situation is not very good.