5 ludicrous cryptocurrency exit scams that regretfully happened in 2018

When you say “cryptocurrency,” you’d be forgiven if one of the first things that comes to mind is: “exit scam.” Exit scams refer to those cunning plots, whereby blockchain startups collect investors money, often through initial coin offerings (ICOs), only to disappear suddenly, along with any funds raised. This happens so frequently that by August, more than $100 million in funds contributed to ICOs had been stolen as part of an exit scam in 2018. They’re indeed such a common occurrence, odds are there many from this year that you have forgotten. While this may not be an exhaustive compendium,…

This story continues at The Next Web

from The Next Web
BY David Canellis