Too Long; Didn't Read
The biggest Ponzi scheme ever was conducted by Bernie Madoff with an estimated loss of $20 Billion to 4,800 investors. What is scary is that when I look at those figures compared to the Blockchain ICO numbers from 2016 they don’t even look that big. There have been many ICO’s that have raised more than $10 Million each. Some have even raised $100+ Million. Last year ICO’s raised over $6 Billion. It is still early days but if 80–90% of these and subsequent ICO’s go bust like few experts are predicting, it could be possible that collectively the ICO may go down in history as the biggest scam the world will ever see.