WSJ: Most Crypto Projects are Scams
Journalists from The Wall Street Journal have analyzed more than 3,000 crypto projects and determined that most of them are scam and plagiarism.
WSJ decided to research crypto startups and selected 3,291 projects on websites ICOBench, Tokendata, ICORating. Then the journalists discovered the white papers of the crypto startups. It turned out that most of them, if not scam, then plagiarism or empty promises.
It turned out that 16% or 513 white papers contain plagiarism, identity theft, or empty promises of large incomes. In 2000 white papers, journalists found the terms “have nothing to lose”, “guaranteed income”, “high income”, “no risks”, etc.
Another, 343 projects, according to WSJ, use fake team members, information about which did not converge with reality. Some projects did not indicate at all information about managers, founders, or employees.