ICO sale was the hottest trend in the year 2017 – among all such ICOs, the parent of FUEL token had raised a total of $30 million CAD (Canadian dollar). Recently, Canadian police ran an investigation into FUEL token and its founders which runs a firm called, Vanbex. Etherparty / FUEL Token Caught with Fraud Charges
The 90% drop in crypto markets in 2018 and rising number of frauds involving ICOS, has unsurprisingly affected crypto startups looking to raise funds via initial coin offerings (ICO). While things are stabilizing, it’s still not enough to lure the investors back to markets especially to the ICO market. Resultant the crypto ICO funding has
The regulatory body of Australia, ASIC is working on a taskforce to crackdown on the misleading and deceptive ICOs and to regulate the ICO market in general. An internal taskforce to police the ICOs The Australian Securities and Investments Commission (ASIC) has established an internal taskforce to control the popular growing crowdfunding method Initial Coin
In another bitcoin scam, a fake website called BitCoin Trader used celebrity names like Deborah Meaden of BBC’s Dragon Den and MoneySavingExpert founder, Martin Lewis to dupe people out of their money. Fraudsters use celebrity names to scam people Last time, Floyd Mayweather, the famous boxer was in the centre of an ICO scam.