A decentralized messaging app called Status — built on the Ethereum blockchain — raises over $60 million dollars during its initial coin offering campaign. However, as soon as the sale started the network became congested, and the Status team was unable to immediately provide everyone with their promised tokens.
Read more here: https://news.bitcoin.com/status-ico-generates-over-60-million-but-fails-to-deliver-meanwhile-ethereum-flounders/