Thank you for this article which draws attention to the chances of scams in the current ICO craze. As you have correctly pointed out, it is not merely risking financial disaster but in places like China, it is playing with one's own life. I had read about the Chinese Transport minister being sentenced to death a couple of year ago. Therefore, I do believe your statement that there could be severe (including Death) penalties in China.

As a minnow who is just learning about Steemit and crypto in general, many confusing things such as ICOs seem attractive for investment of money and effort. Articles such as yours help in guiding us. Thank you.

Upvoted and followed.

I request you to visit my latest blogs when you have time and leave your valuable comments. I have posted a blog about a mystique boat ride on the river Ganges :)

Regards,
A minnow (15 days old)