The best way to deal with a fraudulent ICO is to not participate in it. Every year it becomes more difficult to find a strong honest team of professionals who sincerely believe in their product and successfully promote it in an unfavorable market. Such projects are and will be, you just need to learn how to find them.
Everyone knows about that answer but the problem is how can you determine which is a scam project? that's the problem that has been facing by a lot of people. that needs a lot of knowledge about ico and everyone must be understood about that 
Topic: FIGHTING AGAINST ICO SCAM - page 2. (Read 1103 times)
Wen can fight against those scam icos by not promoting it and make an warning to all investors so they can be attracted on those scam projects. bounty hunters must be careful about it because they are the one who promote the project so they can warn investors too. if we help each other we can stop those scam icos.
Have to start being smart in choosing projects that have this big forum ..
By looking at the profile of bounty managers, for example, it is a small way that can be avoided if the project is scam or not..
For example, he has a red value or not..
By looking at the profile of bounty managers, for example, it is a small way that can be avoided if the project is scam or not..
For example, he has a red value or not..
Detecting project scaming with ICO price is not easy, though many investors have been scam when it comes to ICO scammers, but I we suggest hunters can try and atleast fetch out 50% of project scaming ICO, if we hunters can promote projects, we can aswell detect scammers
The best way to deal with a fraudulent ICO is to not participate in it. Every year it becomes more difficult to find a strong honest team of professionals who sincerely believe in their product and successfully promote it in an unfavorable market. Such projects are and will be, you just need to learn how to find them.
Its nice that you fighting against bad and scam ico. Many investors have lost a great deal from scam ico due to ignorance. But once you expose scam ico you will doing investors a great favour
The only way to get out from the stamp is getting little aside from these type of things otherwise it will definitely attract ourself in the beginning stage then only we can realise you are choosing the wrong decision at that time feeling will not give nothing.
Yes you are right and I agree with you on this front. The market is filled with frauds and fake things. I am being pessimistic and spread negativity. There is also very much good thing--cryptocurrency. What I am trying to say is that we and authorities concerned must take some steps to control scams and make the market more stable and strong.
You can fight with scam ICO by never promote their project and always give information to public at bitcointalk forum and social media because this ICO is really scam and never trying of invest your money.
This might be a very good stepping stone into reviving the ICO again if we can all join hands in spotting these projects out and discussing them on these forums provided some people don’t end up using the forum to spoil other people’s business because of the strong competition among them.Aside ICO scam too, we also need to be able to help ourselves in researching and also spotting our projects that has no future or product and may end up getting dumped in the long run because a scammer might also come up with a bad project to make it look like they are real.
Transactions that are done through online is always a great advantage of scammers so that is why I favor regulations long before. It's such a shame that we lost much more funds raised in truly great ICOs but it's better than most half of it will turn into the wrong hands like people like them. But I know that a lot of them are now discouraged after knowing the poor current state of the market.
even with the bear market they will still be here. there are still investors who send money to a very obvious scam project yet they choose to send and worse is that they shills for it. they may be part of the scam but it always makes people who read the comments and believe to it. collecting just 10BTC for creating a website, whitepaper and fake profiles can be worth just $1k, thats the motivation for them.
Transactions that are done through online is always a great advantage of scammers so that is why I favor regulations long before. It's such a shame that we lost much more funds raised in truly great ICOs but it's better than most half of it will turn into the wrong hands like people like them. But I know that a lot of them are now discouraged after knowing the poor current state of the market.
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Not all ICOs are worthless just look at projects like Ethereum and EOS who successfully raised funds using this method and are now top ranked platforms, however, you are correct in highlighting the fact that this form of crowd funding has been exploited by scammers and professionals who lack the necessary skills or experience to launch a startup and is no longer a popular avenue of raising funds, but all this is starting to change with IEOs and STOs gaining popularity that can offer more protection for investors
I read one of the post of yahoo62278 and I realized reason why many people are taking advantage of blockchain technology to scam people by creating scam project. The cost of setting up a project is very cheap and this is exactly why we have so many scam projects. more than 50% of the project are using fake images of people as team member with copy and paste whitepaper. I have make it clear that people should stay clear of any project that are not legally registered in any country because it can be suicidal. It's always better to have some kind of authority to every ICO that's going to be held.
there are many sites now to look for scam ICOs but even without those site we can determine if the ico is scam just make reviews and check background on the ico then and for the project.We can fight those scam ICO'S by doing some news about the project and dont promote so investors wont know about the it.so they cant invest on it.
Not all ICOs are worthless just look at projects like Ethereum and EOS who successfully raised funds using this method and are now top ranked platforms, however, you are correct in highlighting the fact that this form of crowd funding has been exploited by scammers and professionals who lack the necessary skills or experience to launch a startup and is no longer a popular avenue of raising funds, but all this is starting to change with IEOs and STOs gaining popularity that can offer more protection for investors
I read one of the post of yahoo62278 and I realized reason why many people are taking advantage of blockchain technology to scam people by creating scam project. The cost of setting up a project is very cheap and this is exactly why we have so many scam projects. more than 50% of the project are using fake images of people as team member with copy and paste whitepaper. I have make it clear that people should stay clear of any project that are not legally registered in any country because it can be suicidal. People.. I advice I stay off this coin I just lost $600 on the shit https://coinmarketcap.com/currencies/paragon/#markets
Due to price manipulation by the developers on yobit..
I'll just add about yobit. If I see that the project has a listing on this exchange, then this project automatically falls under suspicion. This exchange does not disdain anything if they are paid for listing. Due to price manipulation by the developers on yobit..
It is difficult to define when an ICO is a scam. For example Desico project seemed to me a legit project but when
the bounty ended they decided not to pay the hunters only thanked them that they were promoting the project
for months. So, from the perspective of the hunters DESICO is a SCAM.
it can be called a Scam in the sense that they do not fulfil their promise and if such project has not indicate that they might not pay hunters prior to when the bounty campaign is launch, We may say they are not. And if not then it is a scam because they do not have any agreement that bind their intentions. However if such Thing happens to hunters then investors too need to get worried because one day, they are also going to be cheated just like the hunters. the bounty ended they decided not to pay the hunters only thanked them that they were promoting the project
for months. So, from the perspective of the hunters DESICO is a SCAM.
We should all unite to fight these scam ICO'S one of the way to do this is to red tagged those ICO that are listed in the scam section, there's a complete list in Icoethics website, I'm sure you are all aware of this list it's a must list to see so you can check if the ICO you are promoting is one of them.
Not all ICOs are worthless just look at projects like Ethereum and EOS who successfully raised funds using this method and are now top ranked platforms, however, you are correct in highlighting the fact that this form of crowd funding has been exploited by scammers and professionals who lack the necessary skills or experience to launch a startup and is no longer a popular avenue of raising funds, but all this is starting to change with IEOs and STOs gaining popularity that can offer more protection for investors
You can fight with scam ICO by never promote their project and always give information to public at bitcointalk forum and social media because this ICO is really scam and never trying of invest your money.
we have to doing preventing action to identify scam ico.as we know many fake developers make their site , roadmap or data that rellated with their project very well and smooth.so we never think this is fake project.as long as there are no ads, marketing, they will not be able to grow and spread, that's one way to stop them
There are many people in this forum are giving their valuable time to find those scam ICOs so if you want to contribute you also can do that in scam accusation section.
True, if OP find something suspicious on the project and on the ICO, make a scam thread on that section and after that warn other people on the project ANN thread and their bounty thread. If the bounty hunters still promote the ICO then it is their fault, they only do for money and never keep up date about the project. Jump to: