80 Percent of Initial Coin Offerings in 2017 Were Scams

80 Percent of Initial Coin Offerings in 2017 Were Scams

A research made by ICO advisory firm Statis Group discovered that more than 80% of initial coin offerings (ICOs) in 2017 were scams. The study considered their lifecycle from the very beginning to the maturest phase of trading.   

“Over 70 percent of ICO funding (by $ volume) to-date went to higher quality projects, although over 80 percent of projects (by # share) were identified as scams,” the study says. Furthermore, 4% of ICOs failed, and 3% had gone dead. By “dead” the researchers imply ICOs that are “not listed on exchanges for trading and has not had a code contribution in Github on a rolling three-month basis from that point in time.”

However, different studies name diverse numbers of “dead” coins. Coinopsy found 247 crypto projects that are already buried, while DeadCoins counted as much as 830.

 

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