80% of ICOs are Scams

[rahul10948]

Unfortunately, it is really seems to be so. The lack of a control has it's flaws, so scammers have a great range of ways to fraud on cryptocurrency market. However, now even good and promising projects sometimes can't reach hardcaps, so maybe the situation will become better in the near future...All we need is regulation and we are good to go

[Ayush rana]

Yeah I agree that 80% ICOs are scam but Now a days people are intelligent and they think twice before investing in any ICO.
To get rid of scammers ---- You have to be smart enough and always see their team profile on linkedIn and their project ratings on ICOsHost like Icobench.

[Tasiril]

I think with this bear market trend people will focus to study lot before investing on ICOs. With this scammers will not able to collect money as they targeted. I think with this bear market people will be smart more than before. When people deny all scam ICOs there will be great time for crypto. let's be smart and reduce the entering of scammers.

[Aduhekl]

I joined a ton of abundance crusades since a year ago on third quarter and until the point when today however lamentably 50% of them went all of a sudden gone, ceased or suspended and half of them are in reality paying yet 50% of my altcoins in my wallet have still no an incentive until today. that is the reason we couldn't simply depend on abundance battles and the motivation behind why a large portion of the abundance crusade members are having various discussion accounts so as to join the same number of abundance battles accessible.

[sashulya7979]

of course there were a lot of mossins! The crypto market is very young, and so far there is no strict regulation in it! I think that we need laws and regulation, then new interesting companies can appear and people will invest!

[Geemy]

Yes, I agree with you, but I see that many initial offers coin now face the problem of not collecting money because of the market situation, but not all of them are scams

[TomiJerry]

I think that category of successful ICOs is very small. I can remember only few really successful ICO in this year. Maybe it is related to the bad situation on the market, but maybe ICO will not be popular anymore.

[jpnl0002]

Honestly i am really tired of having fake ICOs everywhere they scare people away alot i just wish something can be done about this but in the meantime one has to take precaution which is looking out for the right ICO to participate in when you research you will be on the safer side thanks

[CryptoGamblingSites]

We are currently outing an ICO that wants to pretend their ICO is completely normal here on the forums.

Check out the Tombola ICO ANN Thread https://bitcointalk.org/index.php?topic=4691540.600

The team was going to launch an EOS based lottery and gambling site (with 3 games)

They met their presale target and are currently in ICO...

Yesterday they post:

As for me, project on EOS preferable than on Eth. Ethereum network is often overloaded, therefore, it can avoid this problem.

Although the idea of the project is not new, but it has a number of unique features over competitors. For example, the fact that Tombola is created on EOS platform.

Tombola now ERC20 based. Not more EOS  

WHAT?!? So everyone who invested in the project thinking it was EOS (that was a selling point your team had) just accepts that ERC20 is the protocol? How is this just decided to use a completely separate blockchain...

How much will the TBH Token price drop due to the Ethereum price tanking the last few weeks? How do you just put a smiley face and not explain anything about this?

Then we check their site and the whitepaper has been changed to not even mention EOS. They have already sold tokens in presale and are still listed on ICO sites as an EOS based lottery project but randomly decide that ERC20 token will now be the protocol....

They have already taken peoples crypto but don't give any detail as to why EOS isn't used or refund people who already bought tokens based on a different whitepaper.

If anyone see's this as a NORMAL ICO, feel free to chime in for them here https://bitcointalk.org/index.php?topic=4691540.600  It's not how ICO's are SUPPOSED to be run though.

[Talkingbest]

In a smart contract. ICO conditions are formulated, may contain vulnerabilities or deliberate hidden conditions. Quite often, the presence of even limiting norms is better than their complete absence. This position is justified by the fact that the lack of legislative regulation predetermines the expansion of the limits of the discretion of law enforcement agencies.

[dilidolu]

Yes, there are a lot of new ICO projects in this market that are scams, and they don't have good technology. So we must be cautious when investing in ICO, because it is very likely that you will lose your money, the risk of investing in ICO is very large.

[Gabus]

not all ico is scam, but mostly they're scam all you thing need to do is just do some little research before joining any ico, e.g search for their rating, the team, and their flatfom that is surely will be worth for joining the ico.
that's my advice.

[okeanis]

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 ...

Now it is very difficult to find a promising and successful company.  Most companies do not reach the soft cap.

[letsfly]

I must agree to that. Most ico's these days are scams , unlike last year where the ico's are just starting to blow. Now, I no longer invest or trust new ico. I stick with the top 50 atleast and that where I look for good project where I can invest.

[NoRiskNoSuccess]

Unfortunately, it is really seems to be so. The lack of a control has it's flaws, so scammers have a great range of ways to fraud on cryptocurrency market. However, now even good and promising projects sometimes can't reach hardcaps, so maybe the situation will become better in the near future. Its only on us and our research before invest.

[Thardz07]

Yes it is true. 80% of ICO's are now scams. Often these are fraudsters and just ran away the money of their investors after the end of ICO. And in addition, the ICO can also be called a scam if investors don't have gain profits, and lose money. and the developers are have no action for the situations. So the percentage of scams ICO's increases.

[cryptalice]

Most ICOs are scams, but it's important to choose where to invest wisely. For me, a positive signal is participating in large number of events, established partnership and a good, well-known advisors. For example, OSA DC, I've been following their development and hope the project will be implemented in the retail chains soon.

[VBCryp@]

No one can statistically count that 80% of ICOs are fraudulent, so we should update our knowledge regularly, so do not get caught up in such scams.

[odessit1377]

Unfortunately, the company is not successful, some only make a noise, make a hayp, but in fact there are no underpinnings. Some companies frankly raise funds and disappear, but there is a small percentage of those who actually do their business honestly.

[loonb]

Yeah but in my opinion 90% of ico are fake.If we choose it to invest our money.It will be a big mistakes in our life. Because we will lose this money.So I recommend you don't invest on any ico before proper study.