HMMMM....not much of a surprise I guess

The WSJ is out with an article warning investors in the wild, wild west of the cryptocurrency that many are using deceptive or even fraudulent tactics to lure investors.

They say that of the 1,450 digital initial coin offerings (ICOs), they found 271 with red flags for things such as "plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams."

The Journal's analysis shows that the 1,450 firms raised close to $5B and $1B has been poured into those 271 which are questionable.

One clue of a fraudulent offering comes from the companys "white paper", that outlines things such as the mission statement, team biographies and the technical specifics of the company. Apparently, there are 111 companies that use the exact same wording. HMMMM that might be a red flag.

Anyway, if you want to venture in the world of ICO's be sure to know your counterparty. The market is highly unregulated and what may sound like a dream come true, may be a nightmare in the making.

Here is the link to the article CLICK HERE

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