More than a thousand cryptocurrency projects failed in 2018

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More than a thousand cryptocurrency projects failed in 2018
More than a thousand cryptocurrency projects failed in 2018

Since the beginning of this year, more than a thousand crypto startups have closed. This is reported by TechCrunch with reference to the sites Coinopsy and DeadCoins, which track “measured” projects from the crypto industry.
Among these projects, there are projects that their creators stopped working on, as well as exemplary frauds. Among them is a fraudulent BRIG project from Jack and Jay Brig, who called themselves the brothers, and the Titanium project, against which the US Securities and Exchange Commission (SEC) opened an investigation.
TechCrunch notes that such suspicious projects attract large amounts of funds around the world. And last year, fraudulent and “dead” ICO attracted $ 1 billion
And according to a study by the consulting company PwC and the Crypto Valley association, 537 ICOs passed from January to June 2018, which totaled $ 13.7 billion. Last year, the primary placement of the tokens was conducted by 552 teams that raised $ 7 billion
The publication advises investing in ICO only those funds that the investor is ready to lose. And to startups who want to attract investments, TechCrunch advises using the pages of Kickstarter and Indiegogo crowdfunding platforms, which allow winning the trust of investors by presenting the team, the project, as well as risks for the company and the future of the startup.

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In mid-May, the SEC created its own fake site with the initial placement of tokens (ICO) by Howey Coin. With its help, the regulator wanted to teach investors to be more attentive to suspicious cryptocurrency projects.