These are not all the factors (reasons) that scammers use to attract investors. Certainly a large number of scammers is annoying and therefore we must be careful in choosing a project for investment.
Scamming has been with us since the birth of human race and it is up to us to be smart. Scammers are in both world, whether real or digital. No doubt it is easier to be fooled in cyber space due to lacking of knowledge but everything has its pros and cons. The simplest and easiest way to stay away from such fraudulent is to believe in those coins that have remained in market for long and never take obvious baits.
Topic: characteristics of fraudulent projects - page 3. (Read 2897 times)
when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
Not being credible when answering a community member's question makes the team a bit shady, not to mention if they keep on making excuses and delaying any words or promises they made with the community. Also banning members that is making a point that can exploit the team can also be one of the sign. A legitimate projecr can answer any question and criticism with confidence.
These are not all the factors (reasons) that scammers use to attract investors. Certainly a large number of scammers is annoying and therefore we must be careful in choosing a project for investment.
Scamming has been with us since the birth of human race and it is up to us to be smart. Scammers are in both world, whether real or digital. No doubt it is easier to be fooled in cyber space due to lacking of knowledge but everything has its pros and cons. The simplest and easiest way to stay away from such fraudulent is to believe in those coins that have remained in market for long and never take obvious baits. 
when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
In addition to these, fraudulent projects usually do not have any specific idea or products backing them. Also, they have huge discounts for investors.
Based on my experienced before. Yes it is hard to recognize if the project is scam or what. Because if you'll see the team behind of the certain project it looks like real, but when the game runs, everything turns to nothing and your time and efforts just for nothing. It is really hard to recognize if the project is real or not, I hope someday that they will make a security before a team create a project. They will get some important or supporting identification of the team, so that we can try to reach them if there's something wrong in the project.
I added a little, the security of SmartContract must also be questioned, sometimes there are many Airdrop projects that we ourselves don't know about in terms of the SmartContract Source Code security. As an example in the case of Token Monero Gold (XMRG), where the contract maker can make the Token as free as he can even exceed the specified supply, because it causes many people to suffer losses because the token has been registered for CoinExchange somehow the CEO doesn't conduct an overall audit of the smartcontract code and pass listing on their exchanges. In the end, the perpetrators managed to dump infinity the number of tokens in CoinexExchange, so be sure to invest / buy Source Code tokens are really safe, especially projects that rely solely on HYPE & Airdrop, or at least the source code has been verified by certain institutions.
when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
In addition to these, fraudulent projects usually do not have any specific idea or products backing them. Also, they have huge discounts for investors.
I feel that all criteria that you have listed can help to detect a scam project, but the real problem is that big scammers are acting like professionals and it is extremely hard to mention any of these by their attitude. However, even such projects are stealing money, so we need a better way to detect them.
It is obvious that the more often scammers open the more neat and trickier they become. The largest scams that have collected the largest amount of money can still be called deception professionals.
If you are asked to give your money, they promise huge profits, but the project itself ignores or hardly answers uncomfortable questions - most likely you are scam.
when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
I am suspicious of projects that are active in social networks, but their posts do not carry any information about the project. Usually, such projects spread news from the crypto world) - The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
The list that you have mentioned is spot on brother, but the problem is that these scammers are acting so professionally that you can’t tell the difference. These scammers have now become so professional in scamming people that you can’t tell the difference, even the highly skilled and experienced people cannot tell the difference between these scammers and original project.
it is a fact. Now it has become too difficult to understand which project will turn out to be a scam, but I can say for sure that the scam of projects has become less than half a year ago and by diversifying your money you can reduce the risk of investing in scammers
The list that you have mentioned is spot on brother, but the problem is that these scammers are acting so professionally that you can’t tell the difference. These scammers have now become so professional in scamming people that you can’t tell the difference, even the highly skilled and experienced people cannot tell the difference between these scammers and original project.
it is a fact. Now it has become too difficult to understand which project will turn out to be a scam, but I can say for sure that the scam of projects has become less than half a year ago and by diversifying your money you can reduce the risk of investing in scammers
that's why we have to do research first, yes I think it will be difficult to distinguish because it makes their project as real as possible.
but by doing your research at least reduce the percentage of you affected by a scam project.
but by doing your research at least reduce the percentage of you affected by a scam project.
Most fraudulent projects are quite easy to foretell. There are few characteristics that have been very common with projects that end up being fake and scam projects. One of the first way to know that a project is fraudulent is through their white paper. Many of them lacks professionalism, and fail to sell a proper idea. sometimes, whitepaper could be really good too, but project can be fraudulent. Another way to know is if the team members are not of credible characters, then the project is most like fake.
The list that you have mentioned is spot on brother, but the problem is that these scammers are acting so professionally that you can’t tell the difference. These scammers have now become so professional in scamming people that you can’t tell the difference, even the highly skilled and experienced people cannot tell the difference between these scammers and original project.
There is so many of these scams accumulated over the last couple of years and tens of thousands of wronged investors & bounty hunters,
that a serious distressed asset firm should look into raising class action lawsuits against fake ICO's.
At least some of the investments might be recovered in this way in some of the more litigious jurisdictions.
that a serious distressed asset firm should look into raising class action lawsuits against fake ICO's.
At least some of the investments might be recovered in this way in some of the more litigious jurisdictions.
when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
All in the list that you have mentioned is absolutely true that most of the team members are making a lot of false excuses when some of the investors are starting to ask questions about the project. It is the reason why a lot of investors are starting to lose their trust in ICO projects because of this fraudulent projects.- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
I've been talking with so many developers including the shady ones and the lazy characteristic is usually what makes me refrain from joining their project, it seems like they are coming unprepared and just want to grab the money.
when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
If they don't have a team that has sufficient credibility and experience, of course, that will happen. and if even though there are some who have extraordinary teams, it is not certain that the project will run smoothly, so choosing the project is actually not easy just reading. in real theory a person should be explained in more detail first and given the facts and certainty. only in crypto world. investment projects are presented through words and promises.
The team developer is an important part of the project being able to run and achieve targets. I agree without a solid team, the project cannot reach the roadmap that has been set but the team must also always communicate the progress of the project to investors so that investor confidence is maintained
when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
All in the list that you have mentioned is absolutely true that most of the team members are making a lot of false excuses when some of the investors are starting to ask questions about the project. It is the reason why a lot of investors are starting to lose their trust in ICO projects because of this fraudulent projects.- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group
it's so annoying, how you feel?
I've been talking with so many developers including the shady ones and the lazy characteristic is usually what makes me refrain from joining their project, it seems like they are coming unprepared and just want to grab the money.
Why go far? just yesterday I saw the project MINEMUSE. Not only that, they did not try to somehow fix the fake team. But they didn't even bother to come up with different names for the same person. Fraud just sticks out from all the cracks.
That coin is not a real coin. That project should be destroyed because it's a scam.
When they work with Indian bounty managers or team members, that project is %99 scam. I experienced it maybe 100 times and I have to admit, I am really sorry. I check for their team and I do not wanna see unprofessioanl comuputer engineers as CEOs or just simple guys as community managers. We need people with good knowledge.
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