80% of ICOs are Scams

[FireShark89]

I think one big problem of ICOs is that their community is being "moderated". What I mean is that they remove "undesirable" comments or reviews toward the project that exposes their true intentions. What's worse is that some known or big names are paid by the people behind project themselves to make a "review" and act as if the coin is 100% legit.


I was almost certain that scams would be the death of ICOs. That is until I saw Menlo One. It aims to help the community by being a decentralized market place for ICOs. It's the first of its kind, but I can already see mass adoption within months. Check it out https://www.menlo.one

[KXC247]

Yes it seems like there are so many scam ICO nowadays,
And the number of scam is much more greater than the legitimate ,
But we couldn't really be sure of it because there are some project with good potentials. So, we need to make indepth research and trust out intuition before investing

[mukul11122]

80% OF ALL ICO's are really Scam and that is the reason people are losing faith in ICOs and not investing in the market!Even ICO rating sites rate fasle ico and project them to the people just for their own interest.Please be careful while investing as the market is full of dangers!

[Altryist]

If you take the period of this year from winter to summer, then perhaps I agree with you, during this period I have never seen such a large number of scams and I don't know with what it can be connected. I really hope this is temporary and we will learn how to deal with it.

[AirGirea]

More than 80%! Most projects except the site and the whitepaper have nothing. And from the others there are also scamers. So the figure is quite large

[papagravel]

You're making up something. There are not so many fraudulent projects.
Personally, my opinion is that scammers among ICO are not more than 30%.

[ngocnga0051]

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.

[Gavao04]

For sure most of icos are scam but if u invest to scam icos its not their fault its your fault, if u search enough if spend your time for icos very easily u can understadn which is scam and which is not.

[lovemsngr]

There are many factors you should check before investing. You need to check everything you can find on the team and the project. Little to no information on the team definitely means ICO is a scam. If projects look like twins, it's almost definitely a scam. If they promise the Moon, it's a scam.

[divowok]

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 ...

There are alot of ICO scams out there, they are possible to sort out generally though.

A couple ICOs that haven't launched yet but will in due time, that are worth checking out are Muirfield IP and Fr8 Network.
Fr8 Network's goal is to remove intermediaries from supply chains and bring revenue back to distributors and carriers.
Muirfield is a private equity fund on the blockchain.

[Maheshkumar_Hrangkhawl]

Obviously, the success of ICOs in 2017 have attracted all the subhuman filth from around the world to this type of investment type. Every day, I am hearing reports about ICOs getting marked as scam. The latest one is Uchit.

[BeEvil]

90% of ICO's have only idea, without a team and good WP and only promises that they will be able to translate their idea into reality after collecting $ xx million. This does not mean that they are scammers, but it shows their attitude to their own project.

[ICOLovers]

The developers of the project or the people who offered this idea just want to take your money and give you useless tokens of this ico project 

[upyem2k]

You're right and we share completely the same views on that. Most ICOs are even with the aims of defrauding their investors that would blindly or greedily invest in their project.

[Dexit]

Many ICO projects are scams, which causes troubles for some really good ideas. Scam ICO are making a mess of the cryptocurrency market and get people confused.                     

[Asgar 9]

I regret to admit that this is a reality. Most of all existing projects are currently managed by scammers. I agree with the author of this topic.

[standards]

I totally agree with you on this that more than 80% ICOs are scam most of them just make their ICO with the intention to scam and take the money away.

[sleblanc1469]

True words here. Bad news is that scams is not the only problem for the many ICO, some projects just will disappear because will be unable to offer competitive product.

[GreenCoin22]

Yeah for sure majority of icos are scam, but if u are going to invest big amount of money to icos and if u dont make enough research about icos and if u invest to scam icos its your fault not fault of scam icos. People are investing to icos without searching just they hear or read 2 sentences for icos and they invest.

[Niklomn]

Now really a lot of scam projects.  But there are also good, successful projects in which it is worth investing.