Quote from: BillCoin on April 14, 2018, 07:53:38 AM

Quote from: stompix on April 13, 2018, 04:07:58 PM

Quote from: royalcrypt on April 10, 2018, 07:32:14 AM

LONDON Investors have lost $670 million of cryptocurrencies in hacks and scams over the last three months, according to data shared with Business Insider.

Only 670$ millions this year?
I thought that only the damage from Bitconnect and the top ICOs that went missing would topple that.

And there are the news from Vietnam with two huge scams, Philippine with a few tens of millions...

I guess we're pretty lucky greedy people are not that wealthy or we could count money lost in the scams in tens of billions.

The downside is that now scammers have enough money to star far more elaborate ICOs that would attract more people.
With a few millions you could buy enough advertising to fool an entire country.

Probably outdated, bitcnnected itself had about 3 Billion dollars market cap at the time it fell down, I know that market cap doesn't mean net worth, but I believe that the net worth was about 1B$ at that time.

I believe that this amount doesn't include ICOs that never came out with a product, even after the deadlines, and it doesn't indicate coins that went down to almost zero after the ICO because the development team left the project after they received the money, which is totally equal to " scam ".

My bet on the actual money invested in ICO vs market cap ratio is about 1:10 at most. Don't ask for how I've come on that number, it's just ..my hunch.

I am sure the ones that read the article didn't even bother to investigate small ICO that never got off like the hundred we have around here on Bitcointalk and went after the big whales only.
Just the last week we had quite the storm about BitBlissCoin, that managed to get only a few thousands dollars before they were exposed.

Of course it was a total scam, and the numbers of victims around here is getting low, just as the sums but there are still people who think that the best investing strategy is to throw a constant sum of money, let's say 100$ to each ICO they stumble upon.
So if they get scammed in 20 but one if them gets them a 50:1 return they are happy.I'm still puzzled about this and I can;t believe how many are still doing it.

It would be fun to try and find out how much money have been raised in ICOs alone on bitcointalk but that is a Sisyphean task.
I would bet on a few tens of millions but...god knows.