80% of ICOs are Scams

[mika1977]

There are a lot of scams everywhere, but the Internet is especially a lot. You have to be very careful.

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[Dandyhunter]

Yes, there are a lot of scammers now. We must be very careful when choosing a project for investment. I hope that there will be more quality projects.

[Daydream 61]

I think that more than 80% of ico are scams and even more scams. it's very risky to invest today.Currently ico does not have a clear regulatory policy, so many people joined the scam. Investors should be vigilant

[HansakaMadushan]

some are very much camouflaged trick. A great deal of genuine ventures are not tricks, but rather they don't do anything, in light of the fact that the innovation is as yet youthful. Groups just don't have enough involvement to actualize the arrangement. This is ordinary. Maybe the primary fruitful cryptographic money tasks will show up in 4-5-10 years. In the event that we draw a similarity with dotcoms, best organizations showed up after 2007.

[Nicolas Bebek]

If the exact amount I think to not be counted. Because until now there are still many projects ICO remained. Indeed many of the scam, but many were successful. While it is indeed his token prices mostly plummeting.

[phillippw6]

I cannot quote the accuracy of the number but yes a majority of the ICOs introduced in the market are fraudulent in nature but that does it means that the people in the ICOs are fraudulent but there is a small group of people who are constantly making scam ICOs

[MariaSerebrennikova]

When I first started taking part in bounty companies, I realized that I do not need to join all ICO. And I found a channel that publishes good ICO and I really like that, that they recommend only real projects, but in General, fraud ICO, really, a lot, as in General, there are enough scammers in other areas, and not only in the cryptocurrency!

[Krendiv]

I hope that in the near future they will come up with a regulator that will control the ico for safety

[marginal]

In the past, I decided to do some experiment. I choose 10 programs and join them. I have done all the task they want from me. Wait to the end of the program. And as a result, only two of them pay me what I earn. So I really agree with you about the scam.

[ViciousWarlock29]

I agree most of the time ICO ended up to be fake or scam. Hopefully, there will be new platforms that are coming out this year to try and counter this trend most of them are security tokens which I believe would change how the ICO marketplace is in right now. One project that I believe with is menlo.

[Kaniel-ouots]

8% went on to trade on a exchange.” which mean isnt a real successful projects it can be just a fake project just like bitrace

[petrcoin]

I completely i agree, for me i think its unnecessary to enter icos because %80 of them are scam, other %20 of icos will decrease the moment they entered in an exchange. Maybe tokens entered to binance is not like this but tokens are not listing in binance everyday.

[magaramged3f2]

Yes, it is now more difficult to find a good and promising company.  And so it's worth spending time to learn all the information about the company.

[Z_Max]

Indeed, now there are a lot of scammers in the project ICO. I've already covered a lot of projects, I think that they will become smaller even further.

[Larymause]

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 that even more. At least a very large number of projects do not match their roadmap and are very delaying the development. And at the moment very few projects worthwhile. I hope that this trend will change soon, otherwise there will be no more projects, in which it makes sense to invest.

[kuka86]

Yes, most of the projects seem fraudulent and you need to carefully choose them, taking into account all the subtleties. For example Spotcoin this project seems very promising for me.

[orisbar]

In my opinion  more than 90% ICO are scam and in this year there was almost no successful project that would have brought at least 2-4x.

[alex0.alex1]

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

Many people believe that future of the crypto is coming very fast, other are more skeptical about this, believe that the future there may be a sharp deal in the rate. Abd I think that the crypto space attracted to the large amounts of money and this is a fact that is hard to argue with.

[Konffetka]

Yes, I agree that most of them are scammers. One of ICO scammers was Bitcard, a start-up that promised investors to develop an intellectual contract platform and a biometric validator that would violate and revise the current way of doing business. Shortly after the closure of the ICO, the project was disbanded, and the money invested in the capital was never restored. It pales in comparison with ToTheMoon, a start-up that promised its investors complex solutions for mining minerals among other wild promises. Aspiring investors quickly bought tokens, and a month later ICO raised $ 27 million. Money never recovered, and none of the locations of the team members were known.

[Acex29]

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 fully support the author of this topic. Most of the projects are now unpromising. It used to be much better than it is now.