According to announcements from Shipchain on their ICO, people invested approximately $30 million dollars in the Shipchain ICO. According to Coin Market Cap, the Shipchain ICO is down nearly $28.8 million dollars this year, leaving investors in the ICO with virtually nothing.
Investors in the Shipchain ICO have taken to the internet to lament of their fortunes lost, many directing their complaints to Shipchain CEO John Monarch:
Earlier this year, investments in ICOs were all the rage. Enthusiasm for new cryptocurrencies was fueled largely by the well-publicized success of Bitcoin, which has lost approximately 80% of its value this year.
Everybody who had missed out on Bitcoin wanted a chance to get in on the action, and get in fast on the new ICOs. It is easy for investors to get caught up in the urgency and hype of the crypto marketplace and hastily sink their money into the latest ICO, without much information about the token or its promoters.
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