Sadly nothing will happen to ICOs and people. ICOs will still ask for more money than they know how to handle, and people will continue to give it to them. Of course it won't be the same people but after every scam there comes a new wave of people to fleece. Sometimes people get got more than once, but if they are smart it will only happen once.
In general agree with you. But my opinion is the ICO need regulation. Such as stock exchange. Because if this industry will not regulated - we will see a lot of scams in future. But the worst things that is the many new good projects will got a problems if they decide launch ICO. But the most of goverments already work on this. 
Topic: ICO SCAM worth $660 Million (Read 241 times)
The ICO is currently well-known for over-scamming investors, with fraudulent amounts of more than $ 600 million. What a scam and many investors have trapped this multi-level coin. A project is not going to help life but only to appropriate the money of inexperienced investors, worsened by the multi-level model of this project.
this will give a bad effect on the crypto world, if the world is concerned withcrypto I think the world should take a positive action to the world of crypto, because now many investors are interested to save their wealth in crypto, so to protect the world's investors must make positive regulation.
when the condition today, we and especially investors should be more careful because now many ICO who do not have permission from the SEC. such as ICO centra WXCoin and others. even now many scam ICO and many Ponzi ICO
when the condition today, we and especially investors should be more careful because now many ICO who do not have permission from the SEC. such as ICO centra WXCoin and others. even now many scam ICO and many Ponzi ICO
Well this is not just the first time we heard about scams in cryptoworld, yes it can really affect the price but it will not happen in the long run. We must be careful when joining ICO because not all those project will succeed and sometimes its really a scam.
this will give a bad effect on the crypto world, if the world is concerned withcrypto I think the world should take a positive action to the world of crypto, because now many investors are interested to save their wealth in crypto, so to protect the world's investors must make positive regulation.
when the condition today, we and especially investors should be more careful because now many ICO who do not have permission from the SEC. such as ICO centra WXCoin and others. even now many scam ICO and many Ponzi ICO
when the condition today, we and especially investors should be more careful because now many ICO who do not have permission from the SEC. such as ICO centra WXCoin and others. even now many scam ICO and many Ponzi ICO
That is really an astounding number of money! People who invested in that ICO should have done a thorough research on the project. First question comes to my mind is how is this even possible that an ICO raising more than half a billion dollar. What I've gathered from news site is that the Pincoin project was more like a ponzi scheme being run by some Vietnamese. How long till people realize you should never invest in any ponzi or pyramid program? Let's hope Vietnam government finds out those scammer and recovers at least some of that money.
I don't know why people are always believe in ICO. The possibility of losing your money in investing in ICO is real. In fact, a lot of ICOs are just made to scam the people. I was so disappointed in this kind of news. I want to invest in ICO also but if this kind of scam will exist, the possibility to lessen the investors will happen.
People still believe on ICO because they believe on easy money, but yeah a lot of ICO is just a scam and this can affect the cryptomarket. ICO is a good way of making money, but since people are too greedy they will find ways to scam people so better to study carefully and make time for research.
Wow that number is fantastic, I knew that ico can collect so many funds but I never thought it can raised until 600m but the 40% profit really make the greedy people interested, no wonder people keep on creating an ico to scammed, but I hope no more scammed ico, we need to fix the crypto reputation so it can be accepted by the society
Very many of the 531 ICOs that failed last year looked like a very futuristic concept from the very beginning. In most cases, experienced investors could identify signs of a skam and be cautious. However, not all have experience in investing, and for this reason some projects still attract up to $ 300 million or more. Since the ICO mania does not show any signs of easing, there is no reason to believe that this year the Crowdsley will be better off. Due to increased competition and an endless stream of potentially tempting ICOs, crypto-investment in 2018 will be even more risky than ever.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
Yeah, I already read this news somewhere and its considered as one of the biggest scam this year and the biggest yet in Vietnam. Just sad that people lose big amounts of money to those criminals.
But if you look closely, the project is promising a return of 40%. Wow, if you thinking logically, how the hell can this company pay its investors this kind of huge return? One must simply used their common sense to not fall for this kind of trap and please don't be greedy because it will cause your downfall.
We don't now where Modern Tech is hiding now, but I'm sure that they are cooking another scam so beware.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
How shameful the team is. Are they that greedy to do such things to those people who believe in them who believe that their project will be successful. That's why most of the investors must of us hardly trust ICO even me, even though I participated a lot of bounties only I'm still worried that my work and efforts will be dump because of scam ICO.
Remember there are some projects are turning to the scam project just like centra and many other.
These scammers never understand why they are thinking like that. If they can deliver or make an innovative idea and it will be beneficial for longterm investment.
In fact those dumbass scammers just the people without any skill or experience.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
How shameful the team is. Are they that greedy to do such things to those people who believe in them who believe that their project will be successful. That's why most of the investors must of us hardly trust ICO even me, even though I participated a lot of bounties only I'm still worried that my work and efforts will be dump because of scam ICO.
is really a shame,etherium should vet ico to know people using its smart contracts ,my question is dont they have the capabilities to know about people coming into i.c.o .kyc should be done for em.how people gonna work it out i l know naticus team coin aint gonna act like this people.
There are Scams in everyday business so it is not peculiar to ICOs though the amount of money involved in this case is huge.
However, that shouldn't stop people from investing in good and profitable ICOs that are still out there.
Hint: Do not put your money into a project whose team and Location have not been verified.
However, that shouldn't stop people from investing in good and profitable ICOs that are still out there.
Hint: Do not put your money into a project whose team and Location have not been verified.
Well it pays to research and know what you're putting your money into. Many new investors when they are promised with unimaginable wealth will give out their money to icos that have no clear program, whose people working behind are not trustworthy enough and don't have a name to protect. This is really frustrating. I hope new investors learn from this.
so there are many people still believe in ico like that...their program looked like ponzi scheme and many links in their site are broken...and i still wondering why they able to lure so many investor like that?even my ico's bounty still cant reach a softcap
things like this can be said to be common and indeed every year there's always this sort of thing. caution in choosing an ICO because it differentiates the original or not is a tough thing.
These are two multi-level marketing coin. These projects do not bring any benefit to life. Stupid investors are lured into investment projects. Also, for $ 660 million, it's not true, it's a trick that attracts public opinion.
In my opinion this does not affect icos and crypto, there are many good icos projects worth investing, but under current market conditions, this is not a good time to invest icos.
Dumb investors never tried to some effort to get more information about that. i guess that's bullshit and you are right, I remember there are some project already accused as scam project in the reputation section which called their project raised blablabla millions dollar but after real audit by some members in here and they are only raised 1 btc. that's fake amount i suppose. In my opinion this does not affect icos and crypto, there are many good icos projects worth investing, but under current market conditions, this is not a good time to invest icos.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
How shameful the team is. Are they that greedy to do such things to those people who believe in them who believe that their project will be successful. That's why most of the investors must of us hardly trust ICO even me, even though I participated a lot of bounties only I'm still worried that my work and efforts will be dump because of scam ICO.
I don't know why people are always believe in ICO. The possibility of losing your money in investing in ICO is real. In fact, a lot of ICOs are just made to scam the people. I was so disappointed in this kind of news. I want to invest in ICO also but if this kind of scam will exist, the possibility to lessen the investors will happen.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
Really is this true? That's a lot of money, If it is true I am really sorry for all the people who've invested their money on them. Don't worry because right now karma are digital and instant. Hope this thing will be a lesson learn right now from all the investors, always do your own search very well so we can avoid a scam like this.
That's why it's hard time now for investor. Market is crowed with scam project, no clear information. I think it's better to invest in project which already success, maybe it'll give you smaller profit, but safe. If you're looking for a good coin, i recommend you take part in IOST, a 54th coinmarketcap coin and growing faster than ever. IOST is backed by a strong team with over 30 people from Asia & North America. For full information you can visit: https://iost.io
That 600 million USD figure has not been confirmed by the press but if it is true than that amount is so large and that the government will take action on how to save their country from scam and other cam-prone investment like ponzi scheme, investing in cryptocurrency is not bad but lesser security put a lot of risks to the investors, bitcoin and crypto is not illegal it is the businessman and other scam artist use these coins as their new tool for illegal activities.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
$660 million..... from an ICO I've never even heard of or seen on BTCT. I wonder how they raised so much money, are we sure that's reported correctly? Looks like through the protests happening in Vietnam that these projects were headquartered there, right? It's situations like this where I can see regulation coming to crypto and ICOs.
th! how is that? if they have not been prevented from fraud, I now do not even know who to believe. this can throw you absolutely everyone = (((((
It's all possible !!
myself is more careful when going to choose ICO, maybe it could be ICO with good project but finally scam!
Sadly nothing will happen to ICOs and people. ICOs will still ask for more money than they know how to handle, and people will continue to give it to them. Of course it won't be the same people but after every scam there comes a new wave of people to fleece. Sometimes people get got more than once, but if they are smart it will only happen once.
I disagree, the situation cannot last forever scammers are taking advantage of people but at some point people are going to react and are going to stop investing as much money in icos, scams like this burned so many people that those that lost their money would prefer to invest only in coins which are very solid from now on, it is a shame because there are some good projects out there.
more like the bought news that is aimed to scare people. just imagine what kind of program amount. So far only Durov managed to collect a large amount, and that because he has a product and customers.
that is why people must aware of legit ICO and invest on it rather than to invest in some stupid ICO, in fact there is still a lot legit ICO out there, this kinda act of crime will not impact the future of cryptocurrencies as long this kind act of crime should be prevent for happening again in the future times.
First time hearing of these two ICO's. How did they get that much money without becoming overly popular?
Scam or not, everyone still have a responsibilities to protect themselves from Scammer. Due research on the ICO;s /Crypto that your about to make an investment is on the Top options you have to be consider. Scammer are everywhere so everyone should be careful on investment either on ICO or Crypto. good luck.
As what I have been heard from my friend who already accessed for a long years in ICO business, they say that there are many groups of scammers that enter in ICO business, but Im not so sure how really true about their accusations, so for the safety to all of us, let's be double careful to avoid scammers, and before making any business transactions, just ask first to your close friend who already knows about this business.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
There are too many scam in internet.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
$660 million. what a sick, huge amount of money. i would say that people never have to work again. the people seem to have done the scam very professionally. 32,000 investors and no one has previously recognized the scam. really incredible. i am very sorry for the people who lost their money.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
really? 660m? then they ICO really click and boom.. how come? what their marketing?
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Sadly nothing will happen to ICOs and people. ICOs will still ask for more money than they know how to handle, and people will continue to give it to them. Of course it won't be the same people but after every scam there comes a new wave of people to fleece. Sometimes people get got more than once, but if they are smart it will only happen once.
These are two multi-level marketing coin. These projects do not bring any benefit to life. Stupid investors are lured into investment projects. Also, for $ 660 million, it's not true, it's a trick that attracts public opinion.
In my opinion this does not affect icos and crypto, there are many good icos projects worth investing, but under current market conditions, this is not a good time to invest icos.
In my opinion this does not affect icos and crypto, there are many good icos projects worth investing, but under current market conditions, this is not a good time to invest icos.
How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
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