WSJ Identifies 15% of ICOs as Questionable

The Wall Street Journal has published a report identifying 513 cryptocurrency offerings (ICOs) which they regard as having questionable content either publicly available or in their whitepaper.

Textual analysis was done against thousands of ICO whitepapers in order to flag:

  • Duplicated language from earlier paper
  • Regulators scrutinized project
  • Misrepresented or faked team
  • No team disclosed online or in paper
  • Suggests a “Can’t miss” opportunity
  • Website unavailable
Wall Street Journal

Out of 3,300 whitepapers analysed, 513 were identified with at least one of the flags. That means around 15.5% of ICOs investigated were found to be questionable.

For those of us who were around in 2017, this will come as no surprise. The rapid rise and current fall of the ICO offering has dredged up all manner of scams, unethical practices, and flat out criminal behaviour as those without integrity try to grab a share of the lucrative space.

Does it surprise you that 15.5% of ICOs are questionable? Are the flagging criteria used in the WSJ investigation comprehensive enough? Let us know in the comments below.

Leave a Reply

Your e-mail address will not be published. Required fields are marked *

Disclaimer: Investing in cryptocurrencies involves risk and should be based on advice from qualified financial professionals. You can incur substantial losses: consider whether this is in line with your investment objectives and circumstances. Posts are based on the authors' opinion and accurate to the best of our knowledge. Our posts are not independent/financial/investment advice, nor endorsements of any product/asset/service. We try to maintain the accuracy of our information however we rely on external data which may include errors. We are not liable under any circumstances for loss or damage as a result of using our information or services.
copyright 2019 bitfudge