According to a scathing new research report published by the Wall Street Journal, a large percentage of cryptocurrency project white papers are littered with plagiarism, lies, fraud, and unrealistic promises of returns.

In the report, the Wall Street Journal reviewed over 3,000 white papers from various cryptocurrency projects announced via third-party sites ICOBench.com, Tokendata.io and ICORating.com. The results show that 16 percent of all cryptocurrency projects analyzed had examples of plagiarism, promises of returns, and identity theft. More than 60% of the projects used terminology like “nothing to lose, guaranteed profit, return on investment, highest return, high return, funds profit, no risk and little risk” and other improbable guarantees.

In the Wall Street Journal’s analysis, they also attempted to identify “fake team members” featured in 343 crypto project white papers lacking key details, by running a reverse image search. Some projects listed no team members at all.

A white paper is a document that outlines a project’s technical specifications, roadmap, team members, mission, and more. Investors use white papers to research which projects to invest in. But with white papers filled with plagiarism and lies, this new report proves that when it comes to crypto, additional research and diligence is necessary.

It’s not just obscure cryptocurrencies that are accused of plagiarism in their white papers. Back in April, Ethereum creator Vitalik Buterin called out the cryptocurrency TRON for its “better white paper writing capability,” both poking fun at for and accusing TRON of copying and pasting portions of the TRON white paper.