ICO SCAM worth $660 Million

[FindExchangeICO]

How is that even possible..

A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away. 

What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...


Sources:

1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/

[lafter]

These are two multi-level marketing coin. These projects do not bring any benefit to life. Stupid investors are lured into investment projects. Also, for $ 660 million, it's not true, it's a trick that attracts public opinion.
In my opinion this does not affect icos and crypto, there are many good icos projects worth investing, but under current market conditions, this is not a good time to invest icos.

[surfinonmyownwavebaby]

Sadly nothing will happen to ICOs and people. ICOs will still ask for more money than they know how to handle, and people will continue to give it to them. Of course it won't be the same people but after every scam there comes a new wave of people to fleece. Sometimes people get got more than once, but if they are smart it will only happen once.

[tonylewisverdu]

How is that even possible..

A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away. 

What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...


Sources:

1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/

really? 660m? then they ICO really click and boom.. how come? what their marketing?

D223

[sabine80]

How is that even possible..

A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away. 

What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...


Sources:

1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/

$660 million. what a sick, huge amount of money. i would say that people never have to work again. the people seem to have done the scam very professionally. 32,000 investors and no one has previously recognized the scam. really incredible. i am very sorry for the people who lost their money.

[beigai]

How is that even possible..

A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away. 

What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...


Sources:

1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/

I used to participate in some ico,s and then the project team all ran, so I lost a part of the money, so I will be very cautious after the selection of some ico project, not so rash.
There are too many scam in internet.

[CHENIEN]

As what I have been heard from my friend who already accessed for a long years in ICO business, they say that there are many groups of scammers that enter in ICO business, but Im not so sure how really true about their accusations, so for the safety to all of us, let's be double careful to avoid scammers, and before making any business transactions, just ask first to your close friend who already knows about this business.

[Lorna111]

Scam or not, everyone still have a responsibilities to protect themselves  from Scammer. Due research on the ICO;s /Crypto that your about to make an investment is on the Top options you have to be consider. Scammer are everywhere so everyone should be careful on investment either on ICO or Crypto. good luck.

[lakimens]

First time hearing of these two ICO's. How did they get that much money without becoming overly popular?

[Ali Akbar Torang]

that is why people must aware of legit ICO and invest on it rather than to invest in some stupid ICO, in fact there is still a lot legit ICO out there, this kinda act of crime will not impact the future of cryptocurrencies as long this kind act of crime should be prevent for happening again in the future times.

[toolsmans]

more like the bought news that is aimed to scare people. just imagine what kind of program amount. So far only Durov managed to collect a large amount, and that because he has a product and customers.

[andrei56]

Sadly nothing will happen to ICOs and people. ICOs will still ask for more money than they know how to handle, and people will continue to give it to them. Of course it won't be the same people but after every scam there comes a new wave of people to fleece. Sometimes people get got more than once, but if they are smart it will only happen once.

I disagree, the situation cannot last forever scammers are taking advantage of people but at some point people are going to react and are going to stop investing as much money in icos, scams like this burned so many people that those that lost their money would prefer to invest only in coins which are very solid from now on, it is a shame because there are some good projects out there.

[pranazzs]

It's all possible !!
myself is more careful when going to choose ICO, maybe it could be ICO with good project but finally scam!

[uggeers]

th! how is that? if they have not been prevented from fraud, I now do not even know who to believe. this can throw you absolutely everyone = (((((

[CryptoAllDay]

$660 million..... from an ICO I've never even heard of or seen on BTCT.  I wonder how they raised so much money, are we sure that's reported correctly?  Looks like through the protests happening in Vietnam that these projects were headquartered there, right?  It's situations like this where I can see regulation coming to crypto and ICOs.

[Nhebu]

How is that even possible..

A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away. 

What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...


Sources:

1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/

Ouch! This is a very sad story for the investors who expected that the ICO will success! For sure, the will become a reason why other investors will not anymore give their trust in ICOs. I hope these criminals where tracked and put in jail. ICO right now is too risk, there are always losing of money in ICO. Hope that these kind of stuff in cryptocurrency will fix because it is hard for the investors to lend their capital from nothing.

[yugyug]

That 600 million USD figure has not been confirmed by the press but if it is true than that amount is so large and that the government will take action on how to save their country from scam and other cam-prone investment like ponzi scheme, investing in cryptocurrency is not bad but lesser security put a lot of risks to the investors, bitcoin and crypto is not illegal it is the businessman and other scam artist use these coins as their new tool for illegal activities.

[kiemnhieutien]

That's why it's hard time now for investor. Market is crowed with scam project, no clear information. I think it's better to invest in project which already success, maybe it'll give you smaller profit, but safe. If you're looking for a good coin, i recommend you take part in IOST, a 54th coinmarketcap coin and growing faster than ever. IOST is backed by a strong team with over 30 people from  Asia & North America. For full information you can visit: https://iost.io

[Mariahuhu]

How is that even possible..

A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away. 

What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...


Sources:

1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/

Really is this true? That's a lot of money, If it is true I am really sorry for all the people who've invested their money on them. Don't worry because right now karma are digital and instant. Hope this thing will be a lesson learn right now from all the investors, always do your own search very well so we can avoid a scam like this.

[Hemady17]

I don't know why people are always believe in ICO. The possibility of losing your money in investing in ICO is real. In fact, a lot of ICOs are just made to scam the people. I was so disappointed in this kind of news. I want to invest in ICO also but if this kind of scam will exist, the possibility to lessen the investors will happen.