Filecoin Claims ICO Has Topped $250M Mark

Event, FinTech, ICO, Investing, News | August 11, 2017 By:

Blockchain data storage service Filecoin has halted its initial coin offering (ICO), claiming the massive inflow of cash caused a breakdown in its ICO systems.

The ICO started yesterday, August 10, and was halted several hours later. The ICO has yet to renew, but company Twitter reports indicate it raised $186 million in its first hour, then surpassed the $250 million mark. That would make it one of the most successful ICOs ever.

The latest Twitter missive indicated the ICO “will resume with notice. We’ll update again when there’s more to report.”

The breakdown of ICO offerings has happened before. Reasons range from system failures to hacking.