There are several signs that investors should look out for to determine whether an ICO might be a scam.
...
6 Signs that an ICO May Be a Scam
Weak Website or White Paper. ...
Absence of Named Developers or Team Members. ...
No Clear Roadmap. ...
Skewed Mining Structure. ...
Uncapped Fundraising Goal. ...
Evidence of a Pyramid Structure.
Topic: Any Proven Method To Identify SCAM 🤬 Projects At ICO Stage Or Even Before⁉️ (Read 198 times)
December 08, 2021, 10:26:09 PM
December 08, 2021, 07:23:57 PM
for me, i saw a project from a team that handled it whether it could be trusted or not. after that I will monitor the tele group because there will definitely be a tele group there. a team that is good or not can be seen from how they answer questions from people in the group. it can be one method to see if the team is trusted or not. but now more scammers are getting smarter here so it will be more difficult to detect whether the project is a scam or not. What is certain is that knowledge and experience here are also very much needed in choosing a project so as not to fall into a scam project.
December 08, 2021, 05:52:57 PM
COMMON SENSE!
This is what you do need because you could really determine or notice out whenever;
-poor quality project
-anonymous devs
-unrealistic goals or roadmap
-high token price
-Inactive responses and other shady behavior.
You could determine these things if you do make use of your common sense.
This is what you do need because you could really determine or notice out whenever;
-poor quality project
-anonymous devs
-unrealistic goals or roadmap
-high token price
-Inactive responses and other shady behavior.
You could determine these things if you do make use of your common sense.
December 08, 2021, 05:49:36 PM
Is It Really Possible To Identify A Scam Project Right At The Beginning?
Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
This has been discussed several times in this cryptocurrency forum, like really, a lot of times. Like some. People have said, you should know the team. Knowing the team is in important. These scammers have to hide their identities and they do that by impersonate other people who are well known in the crypto space. They use fake identities on their websites and social media pages.Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
So, it is up to you to do your research and dig further to know whether they are genuine or not. If there are some icons they claim to work with, you should visit those icons page and know whether they are really involved in the project, always try to verify things.
One red flag for me is if the team is using fake photos, so you have to do quick browsing of their team members over the internet. Once you found out they are using fake photos, then, that project has high chance of pulling a disappearing act once they got a hold of money. Also, if the roadmap or whitepaper is very generic in nature, like copy paste from someone else's project, then, it means the team didn't put much effort so they can easily abandon this without warning.
December 05, 2021, 07:43:26 PM
Started by squid coin, this trend is becoming outrageous. Many scammers are coming here in the forum and lots of people are being scammed. Well, there are lots of thread here in the forum that offers comprehensive information to avoid scam project. First of all, do your research. Doing your research about the project will somehow reduce the risk of losing money. It gives you the hint wether you invest in professional team or just a typical guys who could create a website then offers something out of nothing. There will always be a silver lining.
December 05, 2021, 07:31:05 PM
nowadays projects become more evolved scammers for example it became normal for scammers to create a project, after that they have all real team members and after collecting funds start not working on the project quickly, they leave the forum and just stay on twitter and telegram after a long time people realize that the project is a scam
December 05, 2021, 05:57:35 PM
It's not that easy to identify a scam project while it's not that easy too if you are little clever. Scam projects will always have a shit idea to share which they can never make live and they will leave things unorganized. This is most common things. However, you have to check out the team carefully and whitepaper whether they have copied it from anywhere else.
There was a guideline by @coolcryptovator which I can't find at the moment. I will update once I find it.
You really have to analyze properly to know if that is a scam project or not, you can also ask the community about it and this seems more effective especially if you ask people here about their opinion on that project. People who might not know this forum are more prone to a scam project, especially if they just ask on social media where there’s a lot of fake accounts. Knowing a project as a scam is not easy but you have to do everything, don’t invest easily. There was a guideline by @coolcryptovator which I can't find at the moment. I will update once I find it.
December 05, 2021, 05:01:33 PM
Is It Really Possible To Identify A Scam Project Right At The Beginning?
Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
This has been discussed several times in this cryptocurrency forum, like really, a lot of times. Like some. People have said, you should know the team. Knowing the team is in important. These scammers have to hide their identities and they do that by impersonate other people who are well known in the crypto space. They use fake identities on their websites and social media pages.Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
So, it is up to you to do your research and dig further to know whether they are genuine or not. If there are some icons they claim to work with, you should visit those icons page and know whether they are really involved in the project, always try to verify things.
One red flag for me is if the team is using fake photos, so you have to do quick browsing of their team members over the internet. Once you found out they are using fake photos, then, that project has high chance of pulling a disappearing act once they got a hold of money. Also, if the roadmap or whitepaper is very generic in nature, like copy paste from someone else's project, then, it means the team didn't put much effort so they can easily abandon this without warning.
December 05, 2021, 04:51:51 PM
We all know that Crypto industry is full of scammers l. But everytime they able to cheat newbies and sometimes more experienced ones as well.
Is It Really Possible To Identify A Scam Project Right At The Beginning?
Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
Recently a Scam project "DXSWAP.NET" did exactly the same.
They also run a bounty campaign on Bitcointalk forum tu prove their legitimacy and gain more attraction. But ran away right after the pre-sale ICO.
Bounty Thread:
https://bitcointalksearch.org/topic/bounty-dxswap-8-weeks-8k-busd-38k-worth-of-dxswap-closed-5373220
They took heavy amount of money including my $200 in a false manner.
Proof:
I am not much worried about my loss but I want to prevent others from being scammed.
So please share your experience on how to identify a scam project at or before ICO.
There are many strategies that allow you to identify the majority of the projects that are scams in the market, but it is impossible to detect every single one of them, but why is that? Because projects that could be legitimate and that pass all your tests can still eventually become scams if one of the developers goes rogue, however a few of the things you can do to avoid most scams is to look for anything that has been copied from other websites, things like the white paper, the website itself, pictures and resumes of their developers.Is It Really Possible To Identify A Scam Project Right At The Beginning?
Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
Recently a Scam project "DXSWAP.NET" did exactly the same.
They also run a bounty campaign on Bitcointalk forum tu prove their legitimacy and gain more attraction. But ran away right after the pre-sale ICO.
Bounty Thread:
https://bitcointalksearch.org/topic/bounty-dxswap-8-weeks-8k-busd-38k-worth-of-dxswap-closed-5373220
They took heavy amount of money including my $200 in a false manner.
Proof:
I am not much worried about my loss but I want to prevent others from being scammed.
So please share your experience on how to identify a scam project at or before ICO.
You need to also look at their claims and see if their goals are reachable, for example there are many projects that promise profits and this makes them a scam by default as any serious trader or investor will tell you it is impossible to guarantee profits in any market.
December 05, 2021, 03:49:19 PM
Is It Really Possible To Identify A Scam Project Right At The Beginning?
Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
This has been discussed several times in this cryptocurrency forum, like really, a lot of times. Like some. People have said, you should know the team. Knowing the team is in important. These scammers have to hide their identities and they do that by impersonate other people who are well known in the crypto space. They use fake identities on their websites and social media pages.Many projects launched on daily basis. Some are extremely successful while others are less. But many SCAM projects are being launched as well just to pull out money from the pocket of innocent people.
So, it is up to you to do your research and dig further to know whether they are genuine or not. If there are some icons they claim to work with, you should visit those icons page and know whether they are really involved in the project, always try to verify things.
December 05, 2021, 12:24:46 PM
We all know that Crypto industry is full of scammers l. But everytime they able to cheat newbies and sometimes more experienced ones as well.
Is It Really Possible To Identify A Scam Project Right At The Beginning?
Is It Really Possible To Identify A Scam Project Right At The Beginning?
I don't think that there is a way to 100% avoid investing into a scam project. Of course there are ways or things that you should do to minimize the risk of picking a scam project to invest in but you can never be 100% sure. I would advice to always look up the whitepaper, look if it is well written and not only a 10 page copy and paste whitepaper. Then look at the team, check their linkedIn or Xing profiles and see how old those profiles are. Ask critical questions about the long term goals and how they want to accomplish them in their telegram group and see if the Dev Team is answering and what they are answering.
December 05, 2021, 11:59:28 AM
It's not that easy to identify a scam project while it's not that easy too if you are little clever. Scam projects will always have a shit idea to share which they can never make live and they will leave things unorganized. This is most common things. However, you have to check out the team carefully and whitepaper whether they have copied it from anywhere else.
There was a guideline by @coolcryptovator which I can't find at the moment. I will update once I find it.
There was a guideline by @coolcryptovator which I can't find at the moment. I will update once I find it.
December 05, 2021, 11:54:32 AM
Thanks a lot for all of you for sharing thoughts.
Personally I find this free tool 👇 very helpful to analyze a project.
https://tokensniffer.com
Best thing that it can do in my opinion is this 👇
After reviwing, you can have good amount of idea about a project.
It certaily looks like a good tool to analyze new projects. Can help to identify a SCAM project.
Personally I find this free tool 👇 very helpful to analyze a project.
https://tokensniffer.com
Best thing that it can do in my opinion is this 👇
After reviwing, you can have good amount of idea about a project.
It certaily looks like a good tool to analyze new projects. Can help to identify a SCAM project.
December 05, 2021, 10:45:18 AM
We all know that Crypto industry is full of scammers l. But everytime they able to cheat newbies and sometimes more experienced ones as well.
Is It Really Possible To Identify A Scam Project Right At The Beginning?
Is It Really Possible To Identify A Scam Project Right At The Beginning?
It's possible as long as you are taking enough time to research if the project is worth investing, check out the team, their roadmap, their whitepaper, the source code, it will take time but it's worth it as you save money and your expectation, and you can also save other investors from investing, also be sure to look in the scam section and see if the project that you want to invest in do not have a scam accusation there.
December 05, 2021, 09:26:48 AM
Well first of all you can reduce the image size to optimum range by putting [image height=400] code before your image URL. This will help to see the whole thing in one go and would look nice too.
Answering to your question as everyone stated its very hardship to pull out this job you will almost most of the time end up with the projects which are scam. Crypto is all about deep research these days and more or less your luck to enter into perfect project. It's better to see the project go live on an exchanger and which has good volume of trade. If you get tangled into low price pre-ICO schemes then definitely its huge risk. Obviously this risk can give you pretty decent amount of money as you are buying at special prices, but its not a guarantee. With that said, its better reach out projects which are already in the market, having good social presence, good support center. That gives you better probability of hitting profitable portfolio. You may need to wait for the returns but surely you will minimize the risk almost next to zero.
Answering to your question as everyone stated its very hardship to pull out this job you will almost most of the time end up with the projects which are scam. Crypto is all about deep research these days and more or less your luck to enter into perfect project. It's better to see the project go live on an exchanger and which has good volume of trade. If you get tangled into low price pre-ICO schemes then definitely its huge risk. Obviously this risk can give you pretty decent amount of money as you are buying at special prices, but its not a guarantee. With that said, its better reach out projects which are already in the market, having good social presence, good support center. That gives you better probability of hitting profitable portfolio. You may need to wait for the returns but surely you will minimize the risk almost next to zero.
December 05, 2021, 09:12:21 AM
fraudulent projects are hard to detect when the project owner will not cheat you at first, I say you should invest your money in old projects, such as projects that have a guarantee including a strong support team on the project they are working on. You have to be extra careful in investing in new projects so they don't happen again.
December 05, 2021, 01:54:27 AM
So please share your experience on how to identify a scam project at or before ICO.
December 05, 2021, 12:31:38 AM
It is necessary to share all bad experiences with scam projects so that the rest of the people are warned against falling victim to these fraudulent projects, unfortunately Crypto has become full of these fraudulent projects that have caused a lot of abuse, it is very difficult to determine whether the project is scam or not while it is still in its infancy because Most of these scammers have become highly experienced in deceiving people through advertising and using methods that attract people easily, the best thing is to use the review sites that use specialized experts to analyze these projects.
December 05, 2021, 12:11:06 AM
~
Could you ever believe that I was an admin of their chat. But still could not identify. They have team as well with faces on their site as well.
And moreover I am not the only one cheated, almost 3,4 people serving their community been cheated ☺️.
Ah well, I'm not surprised because admins/mods doesn't usually have insider information.Could you ever believe that I was an admin of their chat. But still could not identify. They have team as well with faces on their site as well.
And moreover I am not the only one cheated, almost 3,4 people serving their community been cheated ☺️.
Regarding faces on the website, there are some projects putting up fake profiles there and some have been caught. It's the reason why I said verified identities.
~
Verifiable team is not also guaranteed of project legitimacy based on my experience the helbiz project on 2017, team revealed their true identity. Actually they made live video streaming on youtube promoting their project but in the end after they collected money by dumping their token in the market they abandoned it and whoever asked to CEO on his social media accounts about helbiz token he easily block the person as well as on their main telegram they do desame.
Like I said, no method is 100% guaranteed effective.Verifiable team is not also guaranteed of project legitimacy based on my experience the helbiz project on 2017, team revealed their true identity. Actually they made live video streaming on youtube promoting their project but in the end after they collected money by dumping their token in the market they abandoned it and whoever asked to CEO on his social media accounts about helbiz token he easily block the person as well as on their main telegram they do desame.
Some token holders file a case against helbiz.
Another reason why it's on top of my list is the option for the investors to sue them. 
December 04, 2021, 02:58:49 PM
please share your experience on how to identify a scam project at or before ICO.
You must learn from others' mistakes. If you go through this forum then you could find lots of similar experiences shared by other forum people by the times of 2018/2019. I mean you could not identify any scam projects from the initial stage itself but the only solution could be just staying away from all ICOs. Because, if you keep investing in some 5 to 10 project then only one might get you good returns and all others will end up scamming you at any stage. I have seen many projects go up to the stage of listing in exchanges but you will not able to get back your invested money as heavy dump will happen before they open deposit option for their token.So, identifying at initial stage or at any stage may not help you but just staying away alone will secure your hard earned money. Invest only with bitcoin and enjoy 99.9% assured returns in long term holding.
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