It's was pretty much expected. Until ICOs are not regularized and properly monitored by the local regulatory authority, this number will keep increasing. More than 70% of the ICO offerings are scam and never came back with the promised business. It needs to be properly regulated otherwise the ICO market will become very similar to the HYIP market.
I believe, Swiss government very recently provided a framework for the ICO business in their county. While it's not very extensive, it at least gives us a starting point. So ICOs originating Swiss, will now have a better degree of security. All other countries should act now before it becomes totally crap.
I believe, Swiss government very recently provided a framework for the ICO business in their county. While it's not very extensive, it at least gives us a starting point. So ICOs originating Swiss, will now have a better degree of security. All other countries should act now before it becomes totally crap.
The sad part is that it's showing the crypto industry in a bad light and is just confirming in people's minds what the media is saying about cryptos (many people can't even distinguish between btc and alts). Some degree of regulation is really necessary to prevent people from getting ripped.
Yes there are scams everywhere in the crypto space right now. Unfortunately I believe many of the people running these scams appear to not even understand that they are running scams, they are just focused on trying to get themselves rich
I don't think so. How could you not know that you are running a scam when you run off with other people's money? There's definitely a malicious intent by the "founder". If it's a Ponzi-style scheme like what I keep seeing on Facebook, then yes, some of the "inviters" may be clueless but who ever started it definitely intend to rip off people.
