Report: Over 600 Crypto Projects Went To Pieces
July 6, 2018
After the recent correction of Bitcoin over 500 cryptocurrency projects have suffered from bankruptcy and were found dead.
The DeadCoins website shows that 635 tokens were removed from the market for a number of reasons, for instance, they were abandoned by the developers or due to scammers and hackers who rob the platform blind. Basing on these data we can try to predict the future of ICO projects and tokens under development and the chance of failure is going to be high, about 30%.
Despite current trend and bear market the number of ICO investors won’t fall: over 500 projects have raised about $12 billion this year which is twice as much as all funds raised over 2017.
Quite lately the US Securities and Exchange Commission has published tips for users that describe the ways to avoid scam and used fake coin HoweyCoin as an example of fake ICO. The article is to help users as regulation of the market is still an issue.