Operators of two Initial Coin Offerings (ICOs) have gone silent after multiple reports revealed them to be scams that had conned an estimated 32,000 investors of an alleged $660 million in tokens, local news outlet Tuoi Tre News reported Monday, April 9.
Ifan and Pincoin, cryptocurrency startups purportedly from Singapore and Dubai respectively, were allegedly multi-level marketing ponzi schemes under the control of Vietnam-based outfit Modern Tech.