The ICO boom of 2017 and 2018 brought with it a mixed bags of fortunes for investors who crowdfunded blockchain projects on the Ethereum (ETH) blockchain. In terms of successful projects, we have seen the likes of Tron (TRX), Binance, VeChain Thor (VET), EOS – just to name a few – continue to live up to the promises the teams had given in the whitepapers of the individual projects.
However, we have also seen other projects that have left investors hanging and asking for justice as the teams responsible for the ICO, have either not produced a successful product, or vanished into the thin air with the funds raised. A new study indicates that 80% of all ICOs ever initiated have been scams. The most recent one being the founder of the Oyster Protocol taking off with $300,000 worth of funds from the smart contract that handled the ICO crowdfunding.