Financial regulators, professional investors, and even members of the digital currency community have warned about the dangers of participating in ICOs.

Now there is every reason to believe that the voiced concerns were justified.

About half of the 902 ICOs launched in 2017 failed, according to a survey by

The site analyzed ICOs tracked by TokenData and found that 276 initiatives failed after raising funds. Another 142 failed at the preliminary stage and did not even begin fundraising. In total, this gives 46% of failed ICOs.

According to, the total funding associated with failed ICOs was $233 million. Many of them were unable to attract any funding. Some projects have raised more than $10 million.

It is unclear what percentage of failed ICOs were due to fraud and what percentage were the result of management errors. previously described many of them as “untrustworthy.”