NIFA warns about the "new ICO"
After the ban of ICO in China in September 2017, a new company IMO (Initial Miner Offerings) was founded. According to The National Internet Finance Association of China (NIFA), mining equipment is being sold and attached to specific token. The association called this model a "masked ICO", warning about risks that might be taken. The organization advices to invest rationally instead of "following the speculative trend blindly." Last September, before the official prohibition, the association had already warned about the risks, suspecting frauds.