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According to research conducted by the Wall Street Journal, around 20% of initial coin offerings (ICOs) are simply pure scams, with many others more likely to end in failure.
The WSJ’s team came to conclusions after analyzing 1,450 digital coin offerings, of which 271 were red-flagged on the basis of various parameters, such as “plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams.”
So far, more than $1 billion has been poured into ICOs where the Journal identified red flags, despite the fact that it’s nearly impossible to know which ones will survive.
To do their work, the ... (read more)