Cryptocurrency & ICO Scams Cryptocurrency and Initial Coin Offerings (ICOs) have become very popular investment opportunities for investors who want to make huge profits while investing in disruptive ideas by start-ups offering Blockchain-based products and services. According to icobench.com, over $4.5 billion has been invested in ICOs in the last 4 months. ICOs present an innovative financing option that circumvents the traditional, highly-regulated funding process. Further, most investors do not fully understand the nascent blockchain technology. These two factors have provided a fertile ground for fraudulent scammers to thrive. Crypto scams can be executed through hacks, thefts, Ponzi schemes, and Exit scams. In this article, we shall look at some of the exit scams that have been witnessed in the history of cryptocurrencies. An exit scam refers to the deliberate and preplanned theft of investor funds. This happens whenever scammers collect funds from...
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