Wall Street Journal Research Finds ‘Red Flags’ In 19% Of ICOs

[nydiacaskey01]

19% is actually low as I was expecting something higher like 50% or more as I remember Vitalik Buterin making a statement in Twitter that majority of ICOs are scam. I wonder how did Wall Street Journal qualify each ICOs aside from the basics of checking the people behind each ICOs and the whereabouts of the company.

This is something that we should always be on the lookout as there are scam ICO out there that are being launched every day.

Link to article: https://cointelegraph.com/news/wall-street-journal-research-finds-red-flags-in-19-of-icos

[sirengutou]

I think the probability of ICO fraud is about 199%! Although ICO can make assets grow rapidly, the risks are much higher than any industry. Because of many situations. The buyer cannot supervise the executor. So this scam is easy to set up.

[BruceJu]

What does Red Flags mean, is it scams? Most ICOs are scams. This is a consensus that everyone knows, but there are still so many people crazy investment ICO because they can't resist the huge temptation of ICO's high returns.

[sehoon]

What does Red Flags mean, is it scams? Most ICOs are scams. This is a consensus that everyone knows, but there are still so many people crazy investment ICO because they can't resist the huge temptation of ICO's high returns.

Yes. A red flag means fraud or scam. And it is also true that most of the ICOs are scam that is why doing research should be done before getting into investment or any kind of transaction that is related to the ICO.

[o_e_l_e_o]

Only 19%? My own personal research finds "red flags" in about 50% of ICOs within the first minute of looking at them.

Those tactics ranged from hiding or providing fake information about the issuing company’s location and leadership to secrecy about finances and even plagiarized whitepapers.

Haha. If this is their criteria, they would find a fair few red flags amongst established coins as well. Maybe they should take a look at Tron *cough* plagiarized whitepaper *cough*.