ICO scams are one of the biggest challenges to have rocked the cryptocurrency industry, greatly undermining people’s confidence in the nascent industry. While investors have become increasingly aware of these scams, fraudsters are still widespread and millions of dollars are still lost every year. According to the Wall Street Journal, over 18% of ICOs are pure scams, with many more also likely to fail. The research attributes the continued rise of ICO scams to investors’ appetite for “guaranteed returns” which makes them easy prey for fraudsters. Over $1 Billion Invested In Pure Scams The WSJ conducted an extensive analysis that involved 1,450 ICOs, of which 271Powered by WPeMatico
