Topic: FAKE ICOs Bounties. What to do? (Read 6453 times)
I hope it's happened for everyone even me, you go through it. But you don't need enough time to understand real ICO. You can participate in different bounty by seeing senior or high rank member
Sometimes even more experienced people invest in ICO or participate in bounty companies of fraudulent projects. For example, what was the recent hype around the impessio project, and now it turns out that it ceases to exist.
Actually, to differentiate between the genuine and scam bounties, it will be very hard. It is likely differentiating the legit ICO and scam ICO. Here, what I commonly do is by analyzing their team and wallet transaction including their presentation of their project. I will also learn their transaction on the wallet whether they are real or only transaction for some similar wallets. Just check and re-check on the community.
The airdrop / project feature is prone to scam:
1. They provide the conditions to send some eth to their address to get a token (This is clear, why do I have to pay for the dropdrop?)
2. When filling out the form, you are asked to fill in the private key (It is very clear a scam, because if they know your private key, you can "your wallet balance is sold out)
3. The website is suspicious / suspected of phishing (they usually ask you to fill in the data "private" on their phishing web)
Hopefully it can be a lesson for all of us, to always be careful "in following the airdrop Smiley
1. They provide the conditions to send some eth to their address to get a token (This is clear, why do I have to pay for the dropdrop?)
2. When filling out the form, you are asked to fill in the private key (It is very clear a scam, because if they know your private key, you can "your wallet balance is sold out)
3. The website is suspicious / suspected of phishing (they usually ask you to fill in the data "private" on their phishing web)
Hopefully it can be a lesson for all of us, to always be careful "in following the airdrop Smiley
Try to find any proof informatio and projects with good ratings.
It is difficult to recognize whether an ico is a filth on the grounds that no doubt those ico that would not achieve the market and isn't winning can be considered as rubbish also. This is awful for abundance seekers since they can't return visit dislike with the creator where they can restore the cash contributed. Best tip is to take after a decent chief or in the event that you can't tell a decent group better join the bountyhive which will enable you to pick a genuine crusade.
Investigate the project carefully. You cannot participate in every bounty you come across. I would advice you check team first, are they not fake, also check if they are known figures when it comes to administration issue, blockchain as well, nowadays a lot of team that only want to steal your eth. Be careful…
There's nothing certain we can do with such a thing because even hyped and "shiny" project may come out as a scam, which is very sad...
First you need to analyze the main official website of the project. It is also important to look at the development team and see who they are working with. But in general, no one is immune from the scam
I think we just have to the very careful with all this new projects that are springing up on daily basis....
I would suggest, bumping on their social communities like Telegram Channels because for me, good ICOs and Crypto project have a very strong social community reputation especially when a community has more active members and admins chatting together related or non related on their ICOs or projects. Your thought? 
keep adding knowledge and insight into the flow and characteristics of a good ICO project, and know all aspects that must be in an ICO project so that you are wiser in choosing a good project and not just fraud (fake project)
I am praying that all this change because it is now becoming too much and something need to be done to stop all this people who think that they can just come into the industry at will and steal people ethereum , bitcoin and other valuable coins
I think we just have to the very careful with all this new projects that are springing up on daily basis....
I think that for beginner better to use ICO ratings, for example ICOBench. Of course, the rating doesn't guarantee anything, but you can focus on the opinions of experts and to get more information about projects.
Scammers really have the guts and the know how to make their way through a crowdsale and still be able to pull it off without any doubt for a few weeks until it becomes obvious. I would only do what I always do and that is to make sure that the said bounty has lots of followers and participants especially from the upper ranks of the bitcointalk community.
Well, I'm also using the same way you do, looking for accounts with high rankings in the forums from Sr Member upwards and see which ones are participating in the signature campaign to pick that bounty.
To be legitimate the primary thing i check some time recently taking part in any bounty is the rank of the bounty trough, besides i investigate almost the extend( i take this exceptionally genuine particularly if the bounty supervisor may be a Newbie or Jr member). Howbeit, profoundly positioned bounty supervisors doesn't ensure genuine ventures; so you've got to do a few inquire about around the said venture.
I am a newbie just trying to grow on this platform. Within a week of participating in altcoin bounties, 2 bounties I participated in have been reported as Scammers. I get a lot of reads on my articles and Social media pages. I cannot keep encouraging people to invest in these altcoins if they would eventually get scammed. How can new bounty hunters like myself differentiate between a genuine bounty and scammers bounty?
This is a big truth that we are facing such things in this field in these more , and I think this is not going to stop until any team will be made a any authority that will work as an escrow in between the ICOs and the investors .But still here we have lots of options to find out the perfect ICOs between all of the ICOs list , that will decrease the chances of the scam from bounty scam .
Before to go with any ICO , you should make better analysis that whether the project is guinuine or not or jsut they are creating hype and also make sure that wether the team of that project did any work in the history or not and how much was successful of Thier work .
And also here a option is that you should sell the tokens that you get from the bounty campaign , because it is easy to sell the tokens at the Telegram channels members of that ICO group easily because at the near end of the ICO people will easily buy at low price .
But still you should take care that you will not sell all of your tokens , you should keep a part of token collection because not every ICO is scma , few of them results into perfect ICO .
You have to do a research before involving yourself in a Fake ICO, probably if you join in any suspicious ICO chances are high that they will scam the hard-earned money of investors/traders/people by joining their bounty campaign you will be helping them to recruit people for their fundraising and probably you will not get your reward token/stakes meaning you will be scam too by giving out your effort for the campaign.
To avoid such situation first of all join bounties that you can find in signatures of users with high rank. They've definitely made preliminary analysis before taking part in it. 
Improve your skills in seeking bounty campaign. After you got scammed few times you will pay more attention on the details and overall. No one insured from the scam
Jump to: