Here his an exemple.
Matchpool, 2 months ago they raised 100k ETH.
Just at the end of ICO here what happened :
Philip Saunders 2:16 PM, Apr 5th @channel I regret to announce as cofounder of Matchpool that I am leaving this project. I was involved in architecting Matchpool, writing the white paper and writing the first draft of the smart contracts. I was not involved in the implementation of the ICO. I have asked internally what is going on with the funds you sent to Matchpool, but have not received a satisfactory answer.
Over the last two days 37500 ETH has been withdrawn from the multisig wallet by the CEO, Yonatan Ben Shimon without any explanation or announcement due to the need for "hedging". Yonatan keeps claiming he's working with Bitcoin Suisse and it's all okay, but so far I haven't seen any evidence of this. I suggest you all demand an explanation and keep a close watch. In all likelihood your guppies are worthless- the terms and conditions seem deliberately designed to prevent contributors having legal recourse in the case of misuse of your money. In either event, I believe the standards of transparency and integrity in this organization are well below what is needed for a blockchain project, which is why I can no longer a part of it.
There address : https://etherchain.org/account/0x72a7197bbccbe6ee1e9c688645436ed06017768a
52584.966474107185 Ether ($11,729,076.77)
Source : (2 months hago) https://www.reddit.com/r/ethtrader/comments/63nv4u/to_everyone_that_bought_into_the_matchpool_ico_it/
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I'm sorry but I'm quite a fan of ICOs. I'm not a blind fan, but I like the concept and I believe it can work if investors are diligent. I came up with a list of ICOs lists and a list of ICO resources myself in case you wanna take a look ! Also, I'm putting up a series of posts on ICOs valuation, hopefully you grab some nice tips for you to make use of !
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