characteristics of fraudulent projects - page 5.

tanjiran

full member

Activity: 770

Merit: 113

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.

ovcijisir

sr. member

Activity: 1491

Merit: 320

🐪

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.

wedosgibas

member

Activity: 535

Merit: 33

here we go

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.

PuertoLibre

legendary

Activity: 1876

Merit: 1003

Quote from: badykvik on September 28, 2019, 08:43:59 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

It is really annoying but some project even talk with their community through a dummy community managers that often tell the community to wait till she receive the answers from the team head or technical.
In addition to your listed points, they dont have an end of the ico sales or bounty program.
They like to spend more than 18 weeks to promote their bounty.

Very suspicious behavior by the member of the support team. The telegram groups are full of scammers, the coin beggers, the stubborn people like asking the same answered question several times, etc. Every time the support team chooses an admin from the marketing team and this guy never has an idea when the project will end the token sale or when the X error will be fixed in the Android application of the project.

bitcoinposts

member

Activity: 448

Merit: 10

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

badykvik

sr. member

Activity: 895

Merit: 250

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

It is really annoying but some project even talk with their community through a dummy community managers that often tell the community to wait till she receive the answers from the team head or technical.
In addition to your listed points, they dont have an end of the ico sales or bounty program.
They like to spend more than 18 weeks to promote their bounty.

rez303

member

Activity: 338

Merit: 10

StartFi

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

This is what happens every day at any project and if you're an investor, you've probably encountered these cases. I usually do a thorough research before investing, and if they don't answer my questions it is a poor project and you should not waste time with them. In the past a lot of ICO projects have done this but most of them were shitcoin and not worth the investment.

If they don't trust investors then we don't need to trust them and we have the right not to invest

Bitbtc8

full member

Activity: 1148

Merit: 116

As per my experience with many new projects nowadays i haven't seen projects that rise up using crypto as start up that ends up doing something, its like they are just here to feed on the money out of people, the one projects that are doing good are those that have been in existence for long or years back, meaning they already have a reputation to keep alive

tenakha

hero member

Activity: 1470

Merit: 509

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

Mostly I have been experienced this, and it is hard to see such details in successful projects. Sometimes even when you go deep, there is no answer and the research about you starts behind. If you are a bounty participant, sometimes the question is not even answered. While the price was $3000, we learned a lot about the bad side of the market, which is useful. It is obvious we have earned a lot more than profit.

princeyeboah

member

Activity: 714

Merit: 14

Quote from: fosco333 on September 25, 2019, 09:51:20 PM

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

~
- and finally you are banned in this group Grin

Haha this is very true Grin

they don't want to be disturbed by their community.
Very weird, because it is normal for peoples who bought their coin to asking about the development progress.
Fraud project won't have time to working for development, so there won't be any updates of something new.

Of course, scam projects often ban members who ask for updates concerning the development of the product or platform of the project in the group. Since there is nothing like development or any product to show, these scam projects team see such members as threats to their scam progress, hence will ban any member who demands for proof of documents and products from them.

Kemangi

jr. member

Activity: 71

Merit: 1

in connection with what you said above and this is very annoying especially for prize hunters. maybe they think of bounty hunters as beggars. Developers, teams, prize managers, and other crew members must have good feedback from each participant's questions. but if it's not like that, of course they are included in the criteria of a fraud project.

Akoldi_ibk

jr. member

Activity: 1050

Merit: 1

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

Carefully taking the above hints into consideration, it will be very easy to detect fraudulent projects. They are quick to block anyone that question them or challenge their technical knowledge about the project.

smyslov

sr. member

Activity: 2002

Merit: 269

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

It really is very annoying, and the worse part is they do that after they've got funded when they are still in the ICO stage, they always update all their social media channels they slow down the update when they reached the needed funds and totally do not communicate anymore when the ICO is finished, this is something that hurts the community of investors.

Ararbermas

sr. member

Activity: 1988

Merit: 283

In the first place that's very obvious if they perform such the way like what you have mentioned above. because i already experienced that as well actually. wherein more excuses and etc. . So must observe before making a decision when it comes joining project. Because fresh projects are good only when they seeking for improvement but afterwards they will change intentions . So be smart.

joseyphil82

member

Activity: 742

Merit: 16

Most fraudulent ways of the scammers will always work on the greedy ones, the offers is always good and attractive and they always predict what will happen years to come of cos will stand on promises, good projects will always work sincerely with no promises

Aldrinx00

member

Activity: 882

Merit: 13

That's what a shady and scam projects do, if you will ask questions about their development and get to their nerves they will instantly ban you. I hope there's a regulation about ICOS to avoid those projects to take investors money.

Kotone

hero member

Activity: 1372

Merit: 503

Mostly in my experience the sign of fraudulent project seems pretty obvious if the team hesitant to give in some info such as permits, local account or even disagree for some request such as video call for confirming their identity is real and not just a user of the social account of the team displayed on the website. Also if asked if they can give some sales of their product and they will banned you when keep asking. Totally sign of a hoax project.

ElmedoRator

full member

Activity: 826

Merit: 104

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

And when I asked questions about bounty, they blocked me, even though they had previously run a bounty and promised to pay it. There are obviously lots of scam projects around us

rahmatullah9305

full member

Activity: 983

Merit: 100

There are several unique features of cryptocurrency such as decentralization, full transparency through general ledgers, and open source code that anyone can see. Fraud and Ponzi schemes do not have general characteristics and are usually centralized and opaque. The best way to avoid falling into various scams and ponzi schemes is to identify common characteristics such as seeing teams, whitepapers, roadmaps. Even more important is having knowledge and understanding of how cryptocurrency works and the technology that underlies their business. Remember to always do your own research and don't just hear information by word of mouth.

Mendung

brand new

Activity: 0

Merit: 0

that's what I often encounter that team and developer responses aren't good to prize hunters. they care more about investors than prize hunters, my heart hurts when I ask about project development.

me: hello admin?
admin: yes
me: is your aprofil real? Then what about this whitepaper, I'm a little suspicious of your white paper and profile, I see you editing your own face.
admin: yes of course it's real, we have a real team and profile. can you send the evidence that you suspect?
me: then I began to give concrete proof that the photo editing was ridiculous and the difference was very clear.
team: Huh

What do you mean? Are you the most important part of this project? investor / prize participant?
me: I am one of the participants in the facebook campaign, sir.
team: Huh

me: Hello sir?
team: yes
me: why didn't you give an accurate explanation of my question before?
admin: sorry, you are spamming.
me: deleted user

fuck you sir!

Topic: characteristics of fraudulent projects - page 5. (Read 2850 times)