The purpose of this paper is to analyze risks in crowdfunding platforms. In crowdfunding, a network of people pool their money, usually via the Internet, in order to invest in and to support efforts initiated by other people or organizations. We follow a case study approach by applying the CORAS risk management methodology to the Appbackrcrowdfunding platform. This research addresses two research questions: How suitable is the CORAS methodology to analyze risks in crowdsourcing platforms? What are the main risks in a crowdfunding platform? The findings reveal potential threats and risks for the main stakeholders in crowdfunding platforms, and a set of risk treatment strategies are derived for the key risks.