In 2017, “over 70% of ICO funding (by $ volume) to-date went to higher quality projects, although over 80% of projects (by # share) were identified as scams,” according to the Statis study.
The governing political party in India, the Bharatiya Janata Party (BJP), has been accused of involvement in a “mega bitcoin scam” worth INR5,000 crore ($763 million).
A man has been arrested in eastern China for allegedly scamming 50 people out of almost 100 million yuan ($15 million).
The alleged scam involved the Flinstone Group, a real estate company that allegedly promised to give investors flats and citizenship in Africa and the Caribbean countries. The company also had a cryptocurrency named MoneyTrade Coin.
Bitcaw Trading Company, also known as BTC Global, has reportedly amassed funds from 28,000 people before investor payments stopped.
The U.S. Securities and Exchange Commission (SEC) has come out with an ingenious way to guide prospective investors on looking for red flags on ICOs—the HoweyCoins.
Three people allegedly behind the cryptocurrency startup Centra Tech have each been charged with securities fraud, two counts of conspiracy and wire fraud.
The Texas State Security Board has issued a cease and desist order to Forex EA and Bitcoin Investment LLC, which has been offering unregistered securities whilst also making deceiving statements that mislead gullible investors.
British billionaire Richard Branson has warned against a number of cryptocurrency scam stories that have been circulating, supposedly backed by him.
The cryptocurrency market continues to be compromised by scammers and fraudsters at every turn with the latest victim being Vertcoin.
Yassir Hankir, CEO of German startup Savedroid, resurfaced in a YouTube video claiming that the $50 million exit scam was really a PR stunt to push for "high quality ICO standards."
Arnel and Leonay Ordonio allegedly scammed 50 people into investing in SegWit-Coin BTC in 2017, promising 30% return on their investments every two weeks.
