A study carried out by the ICO advisory company Statis Group took into consideration the lifecycle of ICOs run in 2017, from the initial proposal of a sale availability to the most mature phase of trading on a crypto exchange. The research says that 4% of ICOs failed and 3% went dead. The total funding of coins and tokens in 2017 amounted to $11.9 billion. $1.34 billion (11 %) of ICO funding went to scams, the vast majority went to three large scammy projects; Pincoin ($660 million), Arisebank ($600 million), and Savedroid ($50 million).