Venezuelan Digital Coin Presale Fetches $3.3Bln – Maduro

MEXICO CITY - A presale of Venezuela's state-backed virtual coin called petro has raked in $3.3 billion, President Nicolas Maduro said.

Maduro said in a statement on Thursday the proceeds would be transferred to the central bank to be auctioned off via foreign exchange platform DICOM, according to the AVN news agency.

Petro ICO Review: A sovereign asset powered by the Venezuelan Government

Petro is an electronic currency proposed by the Venezuelan government. The utilization of blockchain technology allows you to transfer bulk information without the need for any third parties. This crypto also offers efficient tools that may successfully work to tackle the challenges that come with developing financial solutions and platforms.

Top 5 Biggest Cryptocurrency Scams

Cryptocurrencies have revolutionized the way people do transaction worldwide - but they've also facilitated some monumental scams within the last nine years. The success of Bitcoin and several altcoins jumpstarted an industry that's incorporating Blockchain technology in several innovative ways.
As the smartest minds have created some game-changing companies backed by the ability of Blockchain and cryptocurrencies, nefarious minds also have jumped on the bandwagon, fleecing unwitting investors in elaborate scams.