Telegram CEO Confirmed that Gramtoken.io ICO is Scam

Pavel Durov, CEO of Telegram application, has tweeted that well-promoted ICO of Gramtoken.io is fake
16 January 2018   1904

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Token Sales Still 'Rampant', China State TV Says

Country's highest-level government mouthpiece, has hit out at domestic ICOs that it says are still "rampant," despite a 2017 ban
23 May 2018   65

China Central Television (CCTV), the country's largest government mouthpiece, paid attention to the ICO theme, saying that this sphere, despite the ban introduced in 2017, is still "rampant." This is reported by CoinDesk.

During the Financial News broadcast, the media reported that the ban on the ICO was imposed last September by the People's Bank of China did not deter local investors from investing in the crypto sector. On the contrary, their desire for rapid enrichment led to the rise of this area of ​​the economy.

Further, CCTV told about the sharp rise, as the Chinese crypto community calls them, "air coins" - told about tokens, for which there are no legally registered companies - and stated that the number of these "air coins" increased by 30 times after the ICO ban.

While many business entities have moved their projects overseas following the ICO ban, a lot of these 'air coins' carried on fundraising in China without migration because they are loosely organized as a temporary team, not even a formal business entity.
 

CCTV

These projects often state that they are connected with well-known crypto-currency investors like Li Xiaolai, one of the first investors and bitocain evangelists in China, to appear legitimate.

99.99 percent of the time, I'm being associate with these projects without even knowing it. There's always this fear of missing out (FOMO) among investors. And when they can't make judgments by themselves, they tend to refer to whoever influential is associated with the project.
 

Li Xiaolai

Cryptocurrency investor

China's central television is not the first time trying to tell the public about the "chaos" that prevails in the crypto-currency market. Simultaneously, China's law enforcement agencies stepped up efforts to combat projects aimed at attracting investor funds through the sale of tokens.