We had a similar thing happen a week or so ago in New Zealand, with the Financial Markets Authority warning against an ICO: http://www.nzherald.co.nz/business/n

We had a similar thing happen a week or so ago in New Zealand, with the Financial Markets Authority warning against an ICO: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11947186 http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&o... The ICO was later withdrawn: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11948672 http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&o... Basic rundown: 19 year old "serial entrepreneur" buys a Carosell [0] (similar to craigslist) clone script for a couple of grand (apparently he claimed to have made it himself), claims to have millions of users after a couple of months, and then tries to launch an ICO. It was a blatant scam, he was called out for it, and ended up cancelling the ICO, and promising to return all the money. [0] https://en.wikipedia.org/wiki/Carousell_(company) https://en.wikipedia.org/wiki/Carousell_(company)