Home News $300 million were stolen from the ICOs in 2017

$300 million were stolen from the ICOs in 2017

According to Kaspersky Lab’s experts, during the year 2017 the ICOs have attracted $3.5 billion with $300 million being stolen by hackers. 

The number of ICO related fraud victims exceeded 60,000 people. Hackers interest is mainly fueled by substantial funds the ICO participants invest in ICOs: the average amount of investments is approximately $5,000. In most cases, the money was stolen via hacker attacks, phishing web pages and spam letters with offers to invest in fake ICOs. Sometimes founders of ICOstartups simply disappear with the money.

«During this year we have registered more than 2000 hacking attacks on the ongoing ICO campaigns. This is the most widespread method of stealing money from ICO” — commented the main security expert Alexander Gostev.