Holopopstyir
I think so too. I think it makes no sense to participate in ICO if you do not expect to do at least x10 per year.

No more details? Up to the end of ISO?

I agree with you, I like projects that are developed at the expense of users themselves, and not at the expense of PR and people who have nothing to do with crypto-currencies.

The organizers of the Scam project Benebit have disappeared with $2.7 mln



One of the most appreciable ICO projects, which consistently stayed on the the top of initial coin offerings ratings, turned out to be a scam. The organizers of the Benebit ICO have attracted, according to various estimates, from 2.7 to $4 mln and then disappeared with investors funds, having switched off the web site and social networks accounts. The organization of the fraud was quite high: Benebit have spent about $ 500 thousands $ for a marketing company.

The ICO promotion was in full swing, the social networks were alive with high activity, Benebit was all over the news, when suddenly it was discovered that some members of the team photos turned out to be stolen from the web site of the British school for boys.

As soon as the fraud was discovered, the website and Benebit accounts in social networks were disabled. In Benebit Telegram Channel — the only one which is still working — the investors cry out for a response, joking sadly by posting the telephone numbers of the suicide hotlines. One of the investors reported that he had invested 14 BTC and ETH 300 in Benebit.

This scam one more time underlines the necessity of revising the principles of the crowdfunding market: in any case, projects should not receive “cash in advance” — on the contrary, the funds infusion should go to the project gradually, and the decision on transferring must be made by the investors. Such is the working scheme of Descrow project, the decentralized escrow platform for ICOs maintaining. Just one day left before its own ICO ending. You still have the time to get DES tokens here.

https://medium.com/@Descrow/the-organizers-of-the-scam-project-benebit-have-disappeared-with-2-7-mln-ba0ef4fb440b

Maybe it's Buterin's advice not to set the hard cap is right? Let it all go with success, how many were able to collect as much as possible and collected

I know that I started to return money to those who participated in this ICO. A group of influential persons came out on these scammers and took away their keys from their wallets. They began to return all those people who participated in this ICO. I know many have already returned their money, maybe my information is already outdated and everyone got their money. Those who received their money was offered as a gratitude was  to transfer 5-10% of the returned money to those people who came out on these scammers and returned the money. my English is bad. I hope you understand

congratulations on the finished ICO. I expected some sort of big post to be honest. Some major statistics. Mean contribution etc would be nice to see

If your friend really managed to get his money back, then he's just lucky. This is very rare and, as a rule, all the money investors lose without a trace. If you have any information or you can help contact those people who can help people get their money back, you should write about it in the Benebit topic.

This year there will be a lot of changes in the direction of the ICO, including at the legislative level. I think in the near future people will trust ICO more and there will be less fraud.

This is of course a very sad situation! I hope in the future we will meet less scammers. And your friend is very lucky that he was returned money