Study Results: more than 80% of ICOs Were Scams

Advisory firm Static Group revealed the results of their recent research on ICOs. According to the results, more than 80% of the ICOs for 2017 were nothing more but scams.

Within the study, it was researched the life of ICOs, starting from the ICO sale and up to the acceptance of the ICO by a cryptocurrency exchange for trading and other operations. About 20% of ICOs were associated with high quality projects, while the rest 80% were showing all sings of scams. Some of the ICOs failed and some, around 4%, have gone dead.

The total funding sum of ICOs during 2017 amounted to more than 11 bln USD, while 1,34 bln USD were lost in scams. The most “successful” scam projects were Pincoin, with total investment sum of about 660 mln USD, Arisebank, with total investment sum of about 600 mln USD, and, finally, Saveroid, with total investment sum of about 1,31 bln USD.

So, the hugest ICO projects appeared to be scams, however, they haven’t received much funding in comparison with the total sums invested in ICOs.

Tags:

Add a Comment

Your email address will not be published. Required fields are marked *