Top 10 ICO Scams

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Here is a list of some of the biggest scams, ranked by amount of money stolen.
1. Pincoin and iFan $660 mln.
The two coins combined have suckered some 32,000 investors out of more than $660 mln when they refused to make cash payouts.
This Quebec-based scammer got the book thrown at him by Canada and the US in a cross-border scam that allegedly raised more than
$660 mln when they refused to make cash payouts.
2. Plexcoin $15 mln
This Quebec-based scammer got the book thrown at him by Canada and the US in a cross-border scam that allegedly raised more than
$15 mln.
3. Bitcard $5 mln
While it had a good hook to catch and reel in investors, it was lacking a way to go about doing what it promised. There was no white paper
and inconsistencies on the website. When complaints started to appear, the team vanished and so did the $5 mln they raised after the
ICO.
4. Opair and Ebitz $2.9 mln
These are two ICOs that were launched by one clever scammer, only knows as Wasserman to defraud investors not once, but twice in a
unique scheme that tied the two together via domain rerouting.
5. Benebit $2.7 mln
Benebit was going to offer a way to get more points, similar to credit card rewards with tokens through this scam. However, fake LinkedIn
profiles did these scammers in, too.
6. Bitconnect $700,000
While Bitconnect had been accused of being a Ponzi scheme a few times before, it finally stuck when the SEC moved in ordered a cease
and cease and desist against the company.
7. REcoin and DRC $300,000
Maksim Zaslavskiy overclaimed too much and the SEC came in shut him down and arrested him because his two companies were, in fact,
empty shells, and the ICOs were considered securities and not related to the blockchain.
8. Confido $375,000
Not much to report on this “smart-contracts” based hoax, which never came to fruition because the founder said that he was in some
legal troubles, which were unmanageable and that he had threats on his life.
9. PonziCoin $250,000
Why on earth would you invest in a coin that bills itself as “the world’s first legitimate Ponzi scheme?!” Well, there were enough duped
investors to dump a quarter million into this Ponzi scheme.
10. Karbon $200,000
Karbon was supposed to be a decentralized social marketplace. Is that similar to the Facebook page where you and buy and sell things
with your neighbors? However, what it turned out to be was just a poor folk depositing money into an account with no hope to receive
anything in return, little did they do.

SOURCE: https://medium.com/@cryptorumblefish/top-10-ico-scams-853a678e952c

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