Online services that enable individuals or organizations to raise funds for projects, ventures, or causes by collecting small contributions from large numbers of people, typically via the internet. These services offer tools for marketing, communication, and payment processing, facilitating connections between project creators and backers.
Main/
Crowdfunding Services
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Code
PS0080
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Name
Crowdfunding Services
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Version
1.0
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Category
E-commerce, Marketplaces & Retail
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Created
2025-03-14
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Modified
2025-04-02
Related Techniques
- Fraudsters use crowdfunding-like platforms to present an ICO or token sale under the pretense of a promising crypto project.
- They gather small contributions from many investors and abruptly disappear once they accumulate enough capital.
- Limited verification of project legitimacy on some platforms makes these scams easy to initiate and difficult to prevent.
- Perpetrators establish multiple fundraising campaigns with contradictory or evolving causes to attract numerous small donations.
- They leverage minimal verification processes to launch repeated drives under various accounts, co-mingle legitimate and fraudulent funds, and rapidly transfer proceeds to personal accounts, impeding detection.
• Criminals can disguise fraudulent token offerings as standard crowdfunding campaigns, soliciting contributions from the public under false pretenses.
• Minimal oversight on certain online platforms enables them to rapidly collect investor funds, then abruptly cease operations (ICO exit scam), leaving contributors with worthless or non-existent tokens.