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New Research: 10% of Funds Raised in ICOs Lost or Stolen

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New Research: 10% of Funds Raised in ICOs Lost or Stolen

Close to $400 million USD raised from initial coin offerings have been lost or stolen, a new research has found. The embezzled funds constitute more than 10% of what had been collected for the projects covered by the study. Meeting fundraising goals is getting harder for companies conducting new ICOs.

Also read: Hackers Steal $400k from Users of a Stellar Lumen (XLM) Web Wallet

300 Grand per Second…

More than 370 ICOs from around the world have been studied by Ernst & Young. The multinational professional services firm explored the “big risks” in the ICO market. The surveyed initial coin offerings raised a total of $3.7 billion USD, a tenth of which has disappeared, including due to hacker attacks. read more