WSJ: 20% of the ICO was fraudulent

Yesterday, the national Board of technology experts, financial security in the Internet (IFCERT) found in China 421 fake cryptocurrency. All these coins were created to steal users money. According to a study by The Wall Street Journal, fake projects much more — about 20 percent of all ICO conducted from the beginning of 2017.

Fraudulent ICO. How many of them?

The publication analyzed 1450 IPOs tokens and found 271 suspicious project. On the assessment of the WSJ, the fraudsters managed to collect more than a billion dollars.

However, some company from the number of suspicious still raise funds, others fled with investors ‘ money. At the moment, the investors stated a claim for 273 million dollars.

Many fraudulent projects simply copy white paper and other companies, the publication found 111 such cases. Attackers take not only information about security and information about the leaders, but also the technical characteristics of the produced coins.

The most striking example of a malicious ICO — startup Premium Trade. As leaders stated Andrew Rawicki and John Watson that also run 500 similar companies. The company promises investors 1354% in a month after investment. To contact representatives of the project publication has failed.

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