Topic: An ICO that does not report to investors how much they raised... (Read 122 times)
Normally most of the ICO i have participated in always shows their smart contract wallet address which anyone can easily see and know how much they have raised, unless they are collecting investing with other method of payments, like using other coins or credit card/bank deposit, which at the end of the day they will announce total been raised, but as for eth payment, you can request for the address and see how much they have raised.
It depends on who the ICO is and their advisory team is a. I know a lot of ICO announced fund raising amounts. However, after they successfully announced, they gradually erased the information related to them and disappeared, later I learned that they can control that number easily to cheat investors.
Thanks for the replies.
Does anyone know of any reference to a successful ICO that did not share fundraising data?
One of the ICO's I am involved in they have not ever shared any monetary reports and they will not make public the blockchain code until they have an exchange listing...
I think they will at some point see this thread and I am hoping that the community here full of seasoned blockchain and cryptocurrency professionals will call out such behavior.
Your feedback is appreciated.
Perhaps I should make a new thread asking for others experience in dealing with an ICO team that by all apparent public knowledge have taken peoples investment money and produced nothing (over a 7 months time period)
Does anyone know of any reference to a successful ICO that did not share fundraising data?
One of the ICO's I am involved in they have not ever shared any monetary reports and they will not make public the blockchain code until they have an exchange listing...
I think they will at some point see this thread and I am hoping that the community here full of seasoned blockchain and cryptocurrency professionals will call out such behavior.
Your feedback is appreciated.
Perhaps I should make a new thread asking for others experience in dealing with an ICO team that by all apparent public knowledge have taken peoples investment money and produced nothing (over a 7 months time period)
If projects are not transparent about the amount they raised to, it looks like a scam project.
it must be transparent, an ico launching a pre sale or the main sale must provide their investors and the whole community the information about the progress of their token sale.
If they are not a privacy centric coin, I don't see a valid reason for a project not displaying how much they raised. If they do so, they are certainly a scam.
If they can't show how much they raised, they would not be able to verify where they spent the money.
If they can't show how much they raised, they would not be able to verify where they spent the money.
No
I don't trust even the one displaying the stats so I have no reason to trust the opposite
I don't trust even the one displaying the stats so I have no reason to trust the opposite
I see your logic.
Not displaying the total raised amount is another red flag for me. An ICO be transparent and the companies activities audit-able for the investors to gain faith on it.
A project hiding how much they raised are trying to fake their raised fund to show it too smaller (for the sake of bounty participants) or too larger (to show themselves a huge ICO).
A project hiding how much they raised are trying to fake their raised fund to show it too smaller (for the sake of bounty participants) or too larger (to show themselves a huge ICO).
No
I don't trust even the one displaying the stats so I have no reason to trust the opposite
I don't trust even the one displaying the stats so I have no reason to trust the opposite
Has anyone ever seen that done ever?
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