In recent times, governments around the world have been cracking down on scam ICOs. These are just a handful of ICOs which have been shut down by governments around the globe.

AriseCoin

The US Securities and Exchange Commission (SEC) took action to shut down the AriseBank ICO which had been using celebs such as the boxer Evander Holyfield to tempt investors to hand over their money. It is believed the ICO managed to raise around $600 million before the SEC pulled the plug.

Black Cell

The Hong Kong Securities and Futures Commission (SFC) moved to shut down the Black Cell ICO. Black Cell calmed to be raising funds for a mobile app called Krops. However, the SFC wasn’t happy with the setup and ordered that all funds be returned to investors.

Munchee

Munchee is another ICO which was a victim of the SEC crackdown on ICOs. Munchee aimed to raise $15 million selling tokens which it claimed would be used as part of the Munchee ecosystem. However, the SEC ruled that the tokens were a security which was masquerading as a utility.

PlexCorps

The PlexCorps ICO claimed that investors would see a return of 1000% on their investment within 30 days. The team also refused to provide details of the "experts" who were working on the ICO. In December 2017, the US SEC moved to shut down the ICO.

Prostarr

The SEC closed down Prostarr, an Ethereum-based application which was designed to allow YouTube users to easily receive donations from viewers and followers. In August 2017, the SEC made a request for further information about the project. This request resulted in the ICO being closed down. The funds raised were returned to investors.

To view a list of reliable ICOs, visit the Zloadr top ICO list.