Due to the unregulated nature of the ICO, due to which stealing money and getting away has become easy, bunch of scammers and criminals are attracted to it. Over the past few months such incidents has affected many ICOs.
Edgeless ICO has suffered from this scam recently as an assailant successfully tricks Slack users into making Ethereum-based contributions for remaining tokens. So far, over 200 Ether has been collected through these attempts already. According to the source, a single investor has made transaction over 200 ETH directly. This incident is just a part of many other incidents related to cryptocurrency ICO scam that took place this year. Due to it, millions of Ether have been lost already and its growing as new scammers surface every other week.
Security concerns have been created regarding ICOs due to these scams. Such events will continue to occur as long as these industries exist but also some priority should be given to protect investors from such financial harms.