characteristics of fraudulent projects - page 4.

Marble777

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Quote from: Colt81 on September 29, 2019, 07:47:24 AM

Quote from: Cekerula on September 23, 2019, 09:03:50 AM

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 Grin

it's so annoying, how you feel? Roll Eyes

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.

and that is the importance of investors to always ask about project development so we can find out the team's criteria and also the development of the project. Urgent or difficult questions that the team cannot explain again will show the truth about them. the second point you can judge after they cannot explain about the project.

jajorforce

full member

Activity: 399

Merit: 100

Quote from: Cekerula on September 23, 2019, 09:03:50 AM

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 Grin

it's so annoying, how you feel? Roll Eyes

Most of the time the team blocked accounts for underestimate the project, bad comment and fake news. I believe the main characteristics is the shady team and no real information in LinkedIn account. Fake news listed about top exchange like Houbi, Bitmex and Binance.

irixo10

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GoMeat - Digitalizing Meat Stores - ICO

You really nailed it and that's why it is good to ask some of those provocative questions before investing to ascertain the level of genuineness within that project. Also, when asking those questions be mindful of some people who are there to defend the team etc. Also, there is another point or characteristics which i would like to add and that is, "we are working on our project", many projects are using this line and the annoying thing is that, there is absolutely nothing to show for it. There are projects since last year which are yet to list nor show the community what they have done, but when asked you will give that reply.

Kvalentine

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Activity: 504

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Quote from: Cekerula on September 23, 2019, 09:03:50 AM

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 Grin

it's so annoying, how you feel? Roll Eyes

You did a good job on picking out this points, any projects that do one of the following on your list is a very bad project, i have experience all of the above, i think the best way to nailed it hard is to keep asking the teams very high questions on their social media channels, if they are open or shady you will know instantly

wxa7115

hero member

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Quote from: ovcijisir on September 28, 2019, 12:18:50 PM

This is one example of scam project(Grain.io):
https://bitcointalksearch.org/topic/bountyico-grainio-the-backbone-of-modern-work-agreements-2779618

It seemed so great on paper, CEO was skilled and have been working in Microsoft for years, idea was great, softcap was reached etc etc.

Then when token distribution time came, they gave excuse and delayed distribution for few months. Everibody were ok with that because project seemed good and it had "great future".
Then they delayed it few months more, then few more. Everybody on telegram group were asking where are the tokens, and telegram group admin assured everyone that everything will be distributed but with a delay, because CEO told him that.

But after some time CEO stopped to communicate with Telegram group manager too. That aroused some suspicion in him, and when he told that he was banned form group Cheesy

Then CEO gave some shitty excuses why tokens were not distributed (to investors and bounty hunters), and told that project will MAYBE succeed lol.
After that he locked telegram group and webpage expired. Investors wasted their money and bounty hunters their time. Money disappeared "somewhere". End of story.

Unfortunately the scenario that you are describing is very common, I know because I have seen that scenario playing itself right before my eyes, sometimes I decide to follow projects in which I have not invested just to see if I can find a worthwhile project, and what you are describing happens all the time, and it is something that I find strange, after all how difficult it can be to distribute coins to their legitimate owners?

If there is any delay in the distribution of the tokens that should be a sign for concern for anyone that is invested in the project, I say this because I have seen projects that are still around that have not distributed their coins to their investors in more than a year.

Colt81

sr. member

Activity: 630

Merit: 265

Quote from: Cekerula on September 23, 2019, 09:03:50 AM

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 Grin

it's so annoying, how you feel? Roll Eyes

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.

Ss4sukE

jr. member

Activity: 406

Merit: 3

that is one of the criteria for a shady project, because the team cannot answer every investor's question. they must be able to respond wisely so investors can trust. but conversely if such team feedback is logically the same as tarnishing the project's poor image.

J1mb0

hero member

Activity: 983

Merit: 502

Quote from: Cekerula on September 23, 2019, 09:03:50 AM

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 Grin

it's so annoying, how you feel? Roll Eyes

An investor holiday thought that everything was fine while the group disappeared.
Previously the Project Atheno did the same, the group's vacation never seemed to end Grin

Miklight88

copper member

Activity: 238

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GDZKVBV3L3JU5TFDBWMUMPZAHD3OSM2I3TAJRWPG7KU5U4UZCI

no matter characteristic you put up to be the list of what coud be the reason every thing still burn down to the team which is the major isue we having now as many got good proposal but laziness and greed kill the dream in following the real deal to give the best to investors which still end up been scam project.

asradoni

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Activity: 1039

Merit: 256

Quote from: asradoni on September 29, 2019, 02:51:25 AM

Now it’s very difficult to distinguish scammers from really worthwhile projects, here you need to understand smart contracts, how they are written, and when and in what volume they return their coins. As far as I remember, there is even a project for checking counterpacts, called CertiK, but so far it has not started, I think he will make our life easier.

Here is the project information. https://cryptocalibur.com/certik-ico-review/. I think it will be interesting to you if you participate in ICO projects.I also look forward to it.

Dobmaster

sr. member

Activity: 464

Merit: 250

Quote from: asradoni on September 29, 2019, 02:51:25 AM

Now it’s very difficult to distinguish scammers from really worthwhile projects, here you need to understand smart contracts, how they are written, and when and in what volume they return their coins. As far as I remember, there is even a project for checking counterpacts, called CertiK, but so far it has not started, I think he will make our life easier.

What kind of project? where to find and read it? It would be very good if the professionals were involved in project verification, in our life there is a lot of scam.

asradoni

sr. member

Activity: 1039

Merit: 256

Now it’s very difficult to distinguish scammers from really worthwhile projects, here you need to understand smart contracts, how they are written, and when and in what volume they return their coins. As far as I remember, there is even a project for checking counterpacts, called CertiK, but so far it has not started, I think he will make our life easier.

voltesbit777

sr. member

Activity: 910

Merit: 251

Quote from: wedosgibas on September 28, 2019, 11:12:25 AM

I began to avoid vague projects like this, due to previous experience. They only fall for a lot of money, even though they were sincere in the beginning.

Almost most projects right now start with all the good words they say they just get their purpose. But when they realized that their funds were large, all of their unpopular announcements to bounty participants who helped them do all they could, to not only compensate the poor hunters, to do nothing but to compensate, even to compensate it's really like the beggar begging you to pay, which is annoying.

genset88

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Activity: 349

Merit: 10

Quote from: ?? on ??

If something strange happens to a project as explained in the first page of this thread, it has been confirmed that the project is fraudulent. Many investors have been deceived, even the fraud at the beginning there are no features like that, so it is very difficult to detect, I have also been exposed to scam projects and my money lost, indeed very annoyed and it has been a long time

Perhaps you have quite a lot of experience recognizing fraudulent projects Cheesy

. At this stage, we may have noticed their fraudulent behavior. But it is really difficult to identify from the beginning of the project because it makes investors very eye-catching. Always follow their roadmap, because scammers are always looking for ways to accelerate the project to get the best profit. Please carefully check the admin team as they may pretend and their profile may be wrong so we feel confident in them.

BAGOBO

legendary

Activity: 1163

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Quote from: ?? on ??

If something strange happens to a project as explained in the first page of this thread, it has been confirmed that the project is fraudulent. Many investors have been deceived, even the fraud at the beginning there are no features like that, so it is very difficult to detect, I have also been exposed to scam projects and my money lost, indeed very annoyed and it has been a long time

can you tell me the project that you failed to follow I will try to research? my advice to you be careful in choosing projects to avoid projects that don't respond well to the crypto community. and does not provide updates about their projects on the telegram & social media channels. if you want to invest, choose the best place and choose a coin that has been registered in the market

retnoanjani

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Quote from: pungopete468 on September 28, 2019, 10:46:39 PM

If asking about the development of a project is not wrong because investors also have the right to know the extent and control them so that they can be in accordance with the promise of the roadmap they previously promised when funding ico. but if this freedom is actually banned there seems to be something odd about the project

yes I also often find something like that. When asked if there is an official office, they tend to cover it up and delete or eliminate similar questions. Although cryptocurrency can be anonymous, there are certain parts that should be published to give investors full confidence and form a profitable and transparent niche.

Krabby

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Activity: 644

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https://primedao.eth.link/#/

Quote from: barnes13 on September 28, 2019, 11:13:28 PM

Quote from: Cekerula on September 23, 2019, 09:03:50 AM

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 Grin

it's so annoying, how you feel? Roll Eyes

I somewhat disagree with this point "The team plans to take a vacation". Do you really think after everything they do, like having done a lot of product launches, making massive campaigns or promotions and spending a lot of money on their projects. Then when they want to take a vacation for a few days means they run away? I don't think so, because this is very relative. We must be able to read the situation beforehand and not just judge.

so why did they choose to escape. Why don't they stay in the community but travel? Obviously this is a scammer and they abandoned the project

barnes13

hero member

Activity: 1274

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7enius - Your Cryptocurrency Marketing Consultant

Quote from: Cekerula on September 23, 2019, 09:03:50 AM

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 Grin

it's so annoying, how you feel? Roll Eyes

I somewhat disagree with this point "The team plans to take a vacation". Do you really think after everything they do, like having done a lot of product launches, making massive campaigns or promotions and spending a lot of money on their projects. Then when they want to take a vacation for a few days means they run away? I don't think so, because this is very relative. We must be able to read the situation beforehand and not just judge.

pungopete468

hero member

Activity: 1470

Merit: 504

If asking about the development of a project is not wrong because investors also have the right to know the extent and control them so that they can be in accordance with the promise of the roadmap they previously promised when funding ico. but if this freedom is actually banned there seems to be something odd about the project

Menawi12

member

Activity: 700

Merit: 10

Quote from: tanjiran on September 28, 2019, 06:49:55 PM

Quote from: bitcoinposts on September 28, 2019, 09:33:37 AM

one of the most shaddy of fraud ico project is ico profiles of linkedIn profiles wont match and nt real that itself proves it is something suspicious

analyzing social media and team profiles is the most effective way to find out whether the development team is fake or not. Usually fraudsters use new accounts with minimal activity, or other people's accounts that have nothing to do with the project they are making.
I also strongly agree with OP's presentation. Although not a necessity, transparency is needed by investors and supporting participants to know the project more deeply. If those questions bother them, even get banned, something must be wrong.

Topic: characteristics of fraudulent projects - page 4. (Read 2850 times)