More than 1,000 cryptocurrency projects are “dead”

More than 1,000 cryptocurrency projects are “dead”

According to TechCrunch, more than a thousand cryptocurrency projects “already dead” as of June 30, 2018. TechCrunch made a similar statement based on data from two sites: Coinopsy and DeadCoins.

Coinopsy provides data on a large number of cryptocurrencies, including those that are already “dead”. The website defines a token as “dead” if it happened at least one of the following events: “the site is not supported, the network is not active gcd, the problem with the wallets, no updates in social networks, low trading volume, the developers have left the project”.

According to Coinopsy, at the moment there are 247 of “dead” coins. These include the notorious Bitconnect, which was closed in January 2018, and which the site describes as “the most successful fraudulent project in cryptography”.

On the website DeadCoins a list of dead cryptocurrencies are much longer – it 830 points. Among them is the recent ICO Titanium Blockchain Infrastructure Services, which has been closed by the Commission on securities and exchange Commission (SEC) for fraud.

According to a press release by the SEC, Titanium drew $ 21 million from investors from the U.S. and other countries. In his statement, SEC warns investors about ICO as extremely risky type of investment:

We have several cases related to fraud during the ICO. We again urge investors to exercise extreme caution when investing in such projects.

Since the beginning of the year 537 ICO, totaling over 13.7 billion dollars. For comparison, in 2017 was carried out in total 552 ICO, and the volume was just over $ 7 billion. According to TechCrunch, fraudulent and dead ICO in 2017 gathered $ 1 billion.

See also – the Number of ICO in 2018 already twice exceeded indicators of last year

21 Jun CEO of Nasdaq adena Friedman said that the ICO are “serious risks” for retail investors, arguing that the projects that are raising money so the “almost no control”.

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