I actually threw a few bucks on SONM, not much but for the very reasons you have mentioned. The big red flag for me was the number of errors in the directions to simply trade, I mean seriously. You are putting out an ICO and you can't proof read? Total lack of attention to detail. My head is spinning on a good legit ICO at this point to drop a few coins.
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Yes very good point. I suspect they were in a rush to get it out due to the fact that ICOs are huge right now. I think people are scared that it could be a bubble.