ICO Class Action (ICA) is a portal that helps people who have suffered financial losses because of ICOs that are not delivering. This platform provides assessment, legal support, and advice to the people who lose money because of such ICOs. Most of the people who lose their money because of the non-delivering ICOs usually do not know what to do or who to turn to. But this particular platform provides such people with helpful options. The platform also has a list of ICOs which are accepting new members. The experts on this platform audit the different ICOs and give their verdicts. This is helpful because people are able to make informed decisions while investing.
Qash-Liquid
Some of the ICOs accepting new members which have been reviewed by ICO Class Action include Qash-Liquid. This particular ICO did not deliver what it had promised in the 2017 white paper. The investors who invested in this particular platform are now left with about a quarter of what they had invested. This is despite the fact that there was a lot of hype about this ICO.
Bee Token
Another ICO that has been reviewed by ICO Class Action is Bee Token. This particular ICO has lost about 98% of its value which makes it one of the biggest undelivered projects. The objective of the ICO was to offer peer to peer style of real estate renting. A lot of the coins on this platform were stolen and this resulted in huge losses for the investors. The security system of this platform was breached by unknown people therefore exposing the investors. Because of this, most of the people who had invested in this platform lost their money. It is not clearly known how the funds that were contributed by the investors were used.
HybridBlock
HybridBlock is also another ICO that has been reviewed by the experts from ICO Class Action. This particular ICO had founding partners from different fields including sporting celebrities. This made many people think that the ICO will be successful and will produce the desired results. It has so far lost 99.5% of its value which has resulted in huge losses for the investors. The products the ICO was based on were non-existing which significantly reduced its value. Furthermore, the platform is now abandoned therefore leaving the many investors stranded.
NAGA
NAGA is also a popular ICO that is unaudited and has led to people losing huge sums of money.The coin from this platform was initially designed a cryptcurrency which was decentralized and would be used for investing and trading in virtual goods, financial markets and different cryptocurrencies. The coin was also the main payment option in all the transactions of this platform. Despite the big plans, the ICO lost almost 99% of its value within a year. This makes it one of the worst performing ICOs. Most of the information that was provided to investors on this platform was misleading. The ICO was also highly overpriced and this resulted in investors losing a lot of money.
Conclusion
According to ICA, about 98% of the ICOs in the recent past have been scams or schemes to raise funds unlawfully. It is only two percent of the ICO which have proven that they are legitimate businesses. The ordinary people are not able to identify the exits scams mainly because these scams are still operating in disguise. ICA has committed itself to pursuing lawsuits and providing helpful reviews for the upcoming ICOs.