According to the latest research, only 15% of the projects that attracted funding via ICO in 2017 managed to bring their tokens to cryptocurrency exchanges and continue to develop.

The consulting company Statis Group has published the results of a study, according to which 78% of projects that raised financing via crowdsales in 2017 turned out to be a scam. They attracted $1.34 billion from investors, that is 11% of the total amount invested in ICO tokens ($11.9 billion).

 

The largest fraudulent ICO projects were Pincoin (attracted $660 million), Arisebank ($600 million), and Savedroid ($50 million). In fact, they accounted for almost the entire amount of funds invested in fraudulent crypto projects. That means that, in general, scammers failed to attract much funding compared to the volume of investments in the industry as a whole.

In addition to 78% of scam projects, Statis Group experts found that 4% of ICO projects in 2017 failed and 3% were closed. Of those 15% that came to the listing, only half can be called successful. The failed projects attracted $1.7 billion, and dead ICO projects raised about $624 million.

The largest amount (about 70% of all investments) was attracted to those projects that continue to develop and whose tokens were listed by cryptocurrency exchanges.