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Someone Just Lost $70,000 in a Failed ICO Purchase Attempt

  • Investor was trying to buy $508,000 worth of AirSwap tokens
  • Trade details captured in ethereum blockchain history
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The Wild Swings in Cryptocurrency Investments

From the outset, investors have been warned that it’s buyer beware in the world of initial coin offerings. On Wednesday, someone got a $70,000 lesson on the subject.

That’s how much someone lost on their failed attempt to purchase ICO tokens for AirSwap, a decentralized cryptocurrency exchange that started its public crowdsale on Tuesday. The reason the deal didn’t go through is unknown. One of many possibilities: a trade can blow up if the user doesn’t have enough ether to fund the computers that process the deals.