More Than 600 Cryptocurrencies Are Considered Deceased
According to records, there are more than 600 cryptocurrency-based projects listed as “deceased“.
Dead Coins, a platform that lists cryptocurrencies “forgotten by this world … and more” as it describes on the website displays 635 tokens that were removed from the market. The reasons include the founder’s abandonment of the project, scam and cybercriminal attacks, as well as other barriers that have impeded. According to the records of the website, it was found that the upcoming Initial Coin Offerings have a 30% probability of failure.
Even though the crypto marketplace is going through a tumultuous period, the number of ICO projects continues to grow. More than 500 ICOs have received funding worth of $ 12 billion USD this year, 50% more than last year, and it’s only mid-year.
— Frost & Associates (@IRSTaxIssues) June 26, 2018
As reported by Coindoo in May 2018, the US Securities and Exchange Commission (SEC) launched a fake ICO platform called HoweyCoin to educate users about the falsity of the online information.
“HoweyCoins utilize the latest crypto-technology to allow travelers to purchase all segments without these limitations, allowing HoweyCoin users to buy, sell, and trade in a frictionless environment – where they use HoweyCoins to purchase travel OR as a government-backed, freely tradable investment – or both,” the fake website wrote.