The Wall Street Journal reviewed documents for 1,450 digital coin offerings and found a litany of problems; they found 271 with red flags from plagiarized investor documents to made up executive teams; investors poured over a billion into these red flag offerings and thus far have lost more than $270mn; the WSJ has also seen regulatory enforcement actions and lawsuits from other offerings who promised investor returns and never actually had any employees; while the potential of blockchain technology can help to transform financial services, there are those who are looking to capitalize and exploit the exuberance seen in the market today. Source.
