46% of projects that raised funding via initial coin offerings in 2017 failed, despite attracting more than $104 million, analysis shows.

Analysts of Tokendata, a popular ICO tracker, included in their review 902 ICOs. 142 of these projects failed at the funding stage, while a further 276 failed after their crowdsale. The term "fail" represents either stealing investors' money and running away or stopping updating code repositories and fading into obscurity. The number of failed ICOs could be even higher as additional 113 ICOs show little communication in social media and attracting poor interest from the crypto community.

That is, in fact, it may be possible to talk about the potential failure of almost 59% of all ICOs in 2017. The total amount raised by these projects exceeded $233 million, gone with the wind of the hype that surrounds the emerging industry.

Earlier, Ernst & Young published a report, claiming that more than 10% of funds raised via ICOs were lost or stolen due to hacker attacks.