According to a recent report from TechCrunch, a well-known American technology blog, as of June 30, 2018, more than 1,000 cryptocurrency items have been “dead.” This conclusion is based on data from two major websites: Coinopsy and DeadCoins.
Coinopsy provides daily checks on various cryptocurrencies, including those that have been “dead.” They mark items that show at least one of the following as being “dead”: “discarded, scammed, dead site, no-node, purse issue, no social updates, presence weakness, or developer Already left the project.”
According to Coinopsy’s list, as of now, there are 247 “death” coins. This includes the notorious Bitconnect, which closed down in January 2018, described by Coinopsy as “the most successful Ponzi scheme in the field of cryptocurrency.”
DeadCoins also lists 830 cryptocurrency “death lists.” This includes the recent Titanium blockchain infrastructure service ICO, which was closed by the Securities and Exchange Commission (SEC).
According to the SEC press release, Titanium has raised $21 million from investors in the United States and other countries. In the statement, the SEC warned investors that ICO is a type of investor with a very high speculation risk:
“After receiving many ICO cases suspected of fraud, we once again hope that investors will be extra cautious when considering these investments.”
According to previous reports, by the year 2018, the scale of ICO this year has reached 13.7 billion U.S. dollars. This figure is 2 times that of 2017.
According to TechCrunch, fraudulent and deceased ICOs lent to $1 billion in 2017.