78%

APC Australia - - Number Crunch -

POR­TION OF ICOs IN 2017 THAT WERE AC­TU­ALLY SCAMS For the unini­ti­ated, Ini­tial Coin Of­fer­ings (ICOs) are the cryp­tocur­rency equiv­a­lent of an IPO, where a com­pany sells its crypto to­kens to prospec­tive in­vestors who hope that it will, some­day, climb in value. Given the de­cen­tralised na­ture of cryp­tocur­rency, and the abil­ity for ICOs to avoid most reg­u­la­tory prac­tices, they have be­come a pop­u­lar method of fraud. In fact, a study by Bloomberg has found that roughly 78% of the ICOs that were made dur­ing 2017 were scams, while a fur­ther 7% had failed.

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