Topic: Developer’s advices to ICO investor. - page 3. (Read 842 times)

Scam ICO Alert Auctus, DMarket.
Video review on the SCAM from the developer of smart contracts.

https://youtu.be/ZdHnVY0JgU0

https://ico.guts.tickets/
You have a strange project. Those wishing to contribute to the project put in line. The code on the Github is missing. There may be a contract, but there is no access to it.

I want to share another advice, which is not directly connected to the topic of smart contracts. At least on the face of it.
It is not that simple, to start ICO.  The team that goes to the ICO should have at least the code on the GitHab - something I repeatedly warned about in my recommendations. Any statements on the site without the presence of the code on the GitHab are a direct indicator of the scam.

https://auctus.org/
The project is solid from the developer standpoint. Has contracts, has a working prototype. The only thing that missing is an escrow - but I admit that in this context this is not the biggest mistake.

http://armorceramics.co
The site indicates the beginning of sales, but clicking on the button moves to an empty block. Perhaps this is the error of the web programmer - but first red flag is on. The page on HitHab is in development.
My conclusion: if you are trying to be real, then you should take a bigger test. SCAM.

https://playkey.io
The project takes funds for a contract in which there is only one token for all stages of sale and bonuses for early investors from our list. There are no conditions for the team, bounty, no soft and hard caps, no escrow and freezes. With such a grandiose project, getting out such an unfinished product is unacceptable from our standpoint.
According to our standard – it’s a SCAM.

https://lcd.lucyd.co
This project will receive a e-wallet payments and it’s a biggest scam-factor. To be frank, project is not innovative one bit. Founders just lazy to prove their own idea in front on investor’s board and trying to cut a quick cash. Do you really want this? Nope. Because it is scam.

http://ico.b2b-gbs.com
They managed to be cheap, even using free hosting. Nothing to say – SCAM. Another bag of dust.

I’ve been asked quite frequently about not-scam projects. This bunch was tested by my only by smart-contract standards.
https://auctus.org
https://cashaa.com
https://covesting.io
https://goldminecoin.io

These projects are all different in regard of directions, but they are all the same, as to responsibly approaching to the safety of investors' money.

I'm always concern about the security of investing in any particular ICOs when some misfortune happens like losing funds and any fishy activities that was just basically crippling the late investors. A background backbone on Github is a must for me to look through their efforts given to basically develop what they promised to achieve in the next few road-maps, some of them just uploaded some basic wallet transaction helper code and that's not helpful at all. The rest mentioned above are definitely good read as i always assumed projects would have some sort of 'early private investors' that was guaranteed to have profits once they took off, i just don't wanna be a victim that get my tokens -30% value gone on the first day it reaches any exchanges.

If XYZ is ERC20 tokens just send it to your ethereum address. Try to send a couple of pieces at the beginning.

hey guys - noob question. How do i send my XYZ tokens from metamask to exchange? I have the exchange address, i just dont how how to send anything besides ETHER with metamask.

Thank you for sharing, but most of the time, because I am not a technician, I can hardly judge the technical issues. I can only understand the background of the team and whether there are any bad records.

Hello, dear investors and everyone who reads this.
Being a developer of smart contracts, I cannot stand aside of the current lawlessness in the ICO market.
Out of every 100 projects 99 is a fraud, or a scam, as we used to call it.
Please, read the following advices as a guide to verification of every ICO:
1. At the start of pre-ICO team should have a contract for automatic assets transfer, that contains a written set of rules for early investors – not on towel, not in the speaking form, but written in the smart-contract.  Otherwise, collected assets can just fall in the pockets of founders, or they can change rules of the game in the middle of act – there are many examples.
2. The contract for pre-ICO should be a part of a bigger contract on ICO and do not be different tokens – it is unsafe form a standpoint of vulnerability and withdrawal of funds.
3. The contract for pre-ICO, and then on ICO should have a lower and upper barrier - if it does not – the team does not know what it wants - just a scam.
4. The contract for ICO should have escrow of the funds, received as a result of placement - it can be a frieze or multiSig with a voting condition. This will give you a guarantee against the expenditure of funds earlier than the team completed the previous stage.
5. The contract should have indisputable return of funds condition, in case of not reaching the lower limit of the collected pool. It is in the contract and not in the white book, if it is not – move on, it’s just a scum.
6. All contracts must be posted on GitHub, this will enable third-party developers to check the contract for the vulnerability, if the team has not taken care and before the ICO has not posted a bounty on the vulnerability.
7. The contract must specify the conditions for the team and for the bounty’s for vulnerability.
8. The contract must specify the conditions for not traded tokens - with clearly defined deadlines.

This post is about having a standard. Everything in the end should have a standard - and together we can achieve it. If you do not invest in teams that do not adhere to basic security standards - they just won’t be able to steal your money.

I hope for a dialogue and a healthy discussion.