According to new research from Ernst & Young, more than 10% of funds raised through ICOs are either lost or stolen in hacker attacks. The study looked at more than 372 ICOs and discovered that about $400 million of the total $3.7 billion in funds raised has just vanished.
“Hackers are attracted by the rush, absence of a centralized authority, blockchain transaction irreversibility and information chaos,” Ernst & Young explained, adding that the frequency of attacks on exchanges is increasing.