Positive.com, an ICO security auditor, published a report stating that an average of five vulnerabilities appears in ICOs since 2017, and 47% of these vulnerabilities were of "medium" or "high" severity. Furthermore, according to a report by Hosho.io, up to 10% of ICO funds have been stolen by hackers. ICOs are major targets for cyber-criminals as they tend to be both valuable and vulnerable; the companies are often early-stage and have not taken sufficient security precautions and auditing before raising the capital.