Topic: give an explanation about fake ico, and how to find out (Read 548 times)

addressing and filtering the ICO scam it's not easy to do. only with the analysis and sharing of information then this could to overcome. Anyway too much ICO are popping up also if to analyze one by one is not easy and will take a long time. ICO scam aims to dupe people who don't have a deepening good crypto and this will be a lot going on.

I disagree, there are some projects that are very obviously a scam and as such people can publish the results, there are some other cases in which things are not so clear but it can still be worth to publish the results of your investigation so the developers of that project can clear the doubts that you have about their project, and if they don't then the likelihood of the project being a scam is very high.

We have no way of knowing with 100% that ICO is a fake or not. There are a number of criteria which I personally consider before deciding to invest in ICO or not.
1. Team profiles on different social networks. If it is a fake, then you should think.
2. A work product. Today it is difficult to trust without a product.
3. To learn a technical document and telegram chats.
4. You can ask in the telegram chat about an amount of funds that has been already collected, and request the wallet address for making sure. If the team gets in touch with you and provides information, it means they have nothing to hide.

That's true, it's very difficult to know whether the ICO is a scam or not now. Sometimes the project looks so good, so potential, so real, but it turns out that the project is scam. We need to be very careful, we should know all the information about the project well before deciding to join that.

I suggest you to research more deeper.. try this..

Firstly :
Im more interested to ICO who have work office. Usually, you'll find an office address on bottom page of ICO website. Then, find them on google map to make sure that project (company) is available.

Another Ways :
Find team on google, usually, team of ICO have a linkedin account, and see his current work position, then find his social media (twitter, facebook, etc) to see his activity and update.

That was optional ways to avoiding scam/fake ICO and make sure before investing your money to ICO.

Even ICO has reached the hardcap still scam. Do you know the cryptassist project? This project raised 50 million $ at the ICO and after the ICO ended, they disappeared and did not make any updates to the investor and I was scamed quite a lot in this project

No one is sure whether the ICO is a fraud and knowing that how much can be invested in ICO profitable, many are still trying to invest in and choose good projects.

This issue has been discussed many times. Unfortunately there is no easy way. And even if you're careful, there's still a risk of investing in the SCAM ICO.

Even the most promising ICO can turn into a scam project. This year many of the promising projects makes me really frustrated. I believe making an ICO must not be easy like that. Crypto do not need regulation but ICOs are needed to be regulated to keep crypto world healthy.

I pay attention to the white paper of the project and the development team. Having studied these two aspects, we can draw a conclusion for ourselves, but it still does not give a hundred percent guarantee.

Even though we had a basis to see which ICO is fake still we can not identify it easily,because some ICO scams are good you can not identify what is their intention. The only thing we need to know is to check the background ofbthe project team and the project manager if they had a good experience when developing and handling ICO projects.We need to an assurance before we proceed to participate.

Look at the projects that turned out to be a scam, they still have a lot of traces left on the Internet, they all made the same mistakes that you should be able to find.

Too simple, everyone will recognize if the project does so. Now the project looks very real, but its true nature is scam. They still develop their project until the end of the ICO for several months, then gradually they will abandon it. That is how very smart scam of the ICO

In general, one cannot be 100% sure that another project will be a scam, that is why people do not always publish their investigations!

You this only 26 October noticed? This forum already has a lot of topics on how to do an ICO analysis of the project you want to invest in or whose bounty you want to participate in. Still, with such a plentiful number of fraudulent projects, you will encounter them very often.

Fake icos are dead and scammy  projects established by unknown scammers .As a result ,many crypto traders have lost huge fund on fake icos.This occurs because many traders and investors are not researching,evaluating and checking the veracity of the truth in what they aim to invest in.
Sometimes ,developers of fake icos present poor written white paper ,and some fake icos don't even have any well written white paper.If there is no white paper showing the roadmap of the project ,it means the developers are not prepared.Some fake icos have no website,twitter,Reddit and facebook.However,fake icos are backed by faceless developers who keep on telling people how profitable  its ico will be.When you see all these things i mention above,you don't need anyone to tell you the ico is fake.
Everyone know that marketing is highly important in fund raising.The question is,why are some developers lunching icos decide to be faceless?Sometimes,one need to know the team leaders of the project he wants to invest in.I pointed this out because if you know the team behind a particular project,you can know what the team can do.
To make the matter worse,some developers of fake icos hide their country of origin,and people are investing without checking the true identity of the developer.when you interview the develooers of fake ico,you will know because they will be telling you unrealistic things.

You can really never know if that ICO would be fake at the end. Sometimes an ICO could be great with their background but still be a scam project in the end.

     It's hard to know if your project is SCAM or not. Better research needs to be done. It is simple, however, to choose a project that is not SCAM. You need to track and choose projects where managers and founders are known and have been successful in the past. If you sign up for reward campaigns or choose investment projects with unknown managers, go a little at risk. The crypto market also involves risks, so it's worth trying as long as you invest just the money you do not need for your daily expenses.

I agree with the fact that there should be some kind of way to verify that the icos are legit before they are put into the market, so many people are now putting a lot of their time and effort and money into fake icos without knowing and it is affecting the credibility of the crypto market. They need to be stopped and there needs to be some way that the icos can get vetted properly

In order to evaluate the ICO project, I look at the product of the project and also how the developers evaluate their product, that is, how adequate the project cost is from the developers.

Fake icos promises unrealistic achievements. Once you see this know its a fake one,  example, a project already talking about getting listed on binance when they are yet to reach their soft cap.

One way to know if the ico is a scam is by looking at the whitepaper and see if they copied any part of their whitepaper, if you find they did then there is a very high probability that you are in front of a scam, another way is if you have high technical knowledge you can identify if what is written in the whitepaper makes sense or if it is even possible.

how do you know the ico project is scam by seeing white paper? because the ico scam project they are doing very well and is difficult to compare

if you suggest seeing ico on the ico website, I want to ask for your explanation, why can a scam project be registered in the icobench? for example triggmine scam projects registered on the ico web

Fake icos are projects which are put out by scammers in order to make money from people who are looking to invest in new coins when they have no intention of continuing the project later and one of the best way to spot out the fake icos is to look for the faces behind the project, there is usually no face behind the project which makes it easier for them to take off with the money

Fake ICO always spreading here in bounty sections but some legit ico will know it you review their project and the team. I always read whitepaper of the ico so i always know if the ico is legit or fake.

There is no 'How to Recognise Fake ICO 101' at this moment sadly. You can do so much stuffs to avoid them but still may fall a victim to it. Usually people follow some traits such as background checking in different platforms. But one thing is certain, you have to act smartly and don't ever rush on it. Ask people around, follow the forums and you might make it.

There is no ground rule for that. Forging social media profiles realistically is quite easy. Not everyone has the aptitude to understand every word from white paper. The only thing can help certainly find out whether it's a scam is the community. You have to dig deep, do extensive research and keep eyes and ears wide open.

Honestly there is no pattern or activity that can help a person to identify a scam ICO. Usually high profit claims, bad business model and poor developers are the signs of scam ICO.

There are some traits to a fake ICO. Firstly, see if their idea is legible, then go for researching the persons working behind the ICO and look for their past success as this will help you in holding them reesponsible regarding any scamming case.

If fraudsters really want to get your money as an investment from ICO, they can do it a bit. If you are a very demanding and attentive investor, you will be able to recognize the naked lie in white paper. Only about 5% try their best to make a quality website, an idea and promote their ICO.

In order to avoid becoming a victim of a fake ICO it is up to you to do the required research regarding it. Looking into their idea and how strong it is, what their strategy is about moving the idea forward, the team behind it, their community and how often they update and respond to consumer questions. All of these things play a part on if the ICO is legit or just another scam.

You will need to research a project, in that you want to take part in. Just read the whitepaper, check the projects and developer teams. Look at the rating websites and at the community stats in the social media. If you do not find anything strange, just invest in this ICO.

Sometimes a fake project, you can easily distinguish on the website, white paper, road map, etc. But also there are scammers who make visibility activities. At first glance, everything can be well done, there will be live chats in the telegram, even after the end of the ICO, they can still maintain imaginary activity. There have already been examples of such projects, they are more difficult to distinguish. We can never be 100% sure.

ICO controller does not exist, but you can easily do research via the ICO website for example by using the ICO Track, ICO Holder etc.

Some scam icos can be detected if you thoroughly review some technical details like the dev team, whitepaper, website, community, etc while some can even pass these checks and still scam. Some ico rating website that do KYC for team can also be of help. Goodluck

No one can be 100% sure if an ICO is fake or scam and that is the reason people invest or promote even such intentional scam projects. Fake ICO will always have improper looking bounties,no peoper graphics, roadmaps and poorly written white paper. An ICO with fake profiled team can be another sign of illegal ICO.

It is not easy to figure out if its a fake ICO. Generally it has some charasteristics like irregularities with whitepaper, suspicious developer team or unbelievable profit return. But scammers are getting good with their work so you must keep your eyes open.

Fraustating as it is, there is no way to acccurately identify an ICO as scam or fake. The only way to stay away from these fake and scam ICO is to do through research before going after a newICO. Fake or scam ICOs always show some hints about its being fake. Though similar hint may not always make a coin fake, it happens majority of the time, so peple should be cautious.

It can't be determined accurately whether an ico is genuine or fake. At least not while buying it. So you have to be careful about the source and its reliability.

You can see it in the scam accusations and its sub forum investigations. There are many people who make a research of the ICO project, so asà every bounty hunter or ICO project investor is strongly encouraged to be active in both forums, at least they can avoid the ICO project which will lead to a scam or even they can make their own determinations to determine project scam and project legit.

Fake ico usually never launches their tokens to market exchangers so investors get a loss from the total amount of money they invest for the ico. so far I can't say for sure that ico is a scam or not. but simply to find out is that if the ico is not too long token to the market exchanger, it is certain that it has the potential to be a scam.

Before I Join the ICO I stdudied the project thoroughly sometimes I am already on the bounty when I smell something about the project. Then I left the campaign.  The tip is make surw to study the project well, check the white paper, the team and the feeeback from people .

Whitepaper can be bought. It's true that we can find out whether the project is scam or not simply by analyzing their whitepaper which ofcourse includes so much information.
But, however I've heard a service to create a whitepaper from scratch including the technical aspects aswell so I guess, if we can confirm whitepaper at the moment can be faked and need other method to find out.

Their white papers is the key to determine whether they are scam or not. You should better read it and you, yourself can easily know how good their project is, If it is attainable and not so promising but its plan is exact, do believe in it. Other thing is to look at their telegram account. You can see how many members it has, if many, do consider it as reliable.

Yes, that's right, it's very difficult to analyze ICO projects that have Scam potential. Because Scammers are usually smarter to deceive their victims, they present very good and very detailed data for fraud. So I personally, if I want to analyze the ICO project, I will examine the income from investors collected. If it has exceeded Softcap's achievements, I will join this project.

Actually, the scam or fake ICO is very hard to analyze or to guess. They have great team that present the ICO likely the legit projects. They prepare the white paper and website very well. Additionally, sometimes they also have thousands members in their group I myself to analyze the ICO, I will check their team member one by one on the social media. Whether they are included in the project in fact or not.

Actually my clear prediction about fake ico could merely do a hype on telegram. Without any good marketing strategy on social media and not even active on github they copy paste the whitepaper of most successful projects in coinmarketcap.

ICO are popping up too much so it's certainly not a scam and knows is something that is quite difficult. Some people in this forum will be able to analyze whether a scam and not when it is entered in the forum and will be disclosed to the public as a whole. but to identify it as well is not an easy matter.

Based on my past experiences, fake ICOs are not having well monitored sale and are only giving updates on their website. And also some things would be observed on their telegram because dev team are not giving any updates on the bounty program as well as the progress of the project itself.

Recently, have a lots many scam, fake ICOs, It makes me and everyone tired. There are many ways to find out fake ICO.
EX:
You can look on website ICO: If's under 3 months, 90 percent it's bad site - Check here: https://www.whois.com/whois/
Also. You can see team and check photo of the team
Read and check WP. Thank you!.

It is not hard anymore to find the fake ICO, this year for plenty of scam ICOs, people are getting smarter to find which ICO is the scam or will fail. You need to look through their whitepaper, team members and telegram activity! Most of the fake ICO doesn't have a good team member profile, they always steal team member's picture from other projects, so you need to search their picture on google, and you should read their whitepaper, they always copy paste or plagiarism, and you will see more than 50K Member in their telegram group with zero activity! These things are a good proof to find a scam, fake ICO. Be aware of it.

Try search on this thread https://bitcointalk.org/index.php?board=83.0 , any members here make reports about projects that have been identified as scams on this thread. and reading the project whitepaper if you have read some whitepapers You will be easy to determine whether the project is promising or not, this step is very helpful for me maybe you need to try it.

If no MVP this is a scam ICO. If it has MVP then check it. Scam projects like to show apps on Apple store and google play market that don't belong to them. They just emulate the websites similar to the websites of real owners of the app.

You have to watch the project and check for inconsistencies. Things that make the red light light up.
Something strange about the project, fake hype, shilling, unknown team, team caught lying. There's a lot of it. If you're to spend money you better know it all before you do.
If you're not sure don't risk it. It's always better to be cautious and not lose any money.

There is no controller. At this forum somewhere else. It is simply not possible to make it. There is a lot of projects, but to watch their honesty there is nobody. It does everyone for itself.

Not all ICO rating sites are giving accurate reviews for those ICO's.

They can pay for the good reviews even they are hiding themselves under a veil. There are DT members who have been busting scam ICOs voluntarily and as part of the community, we need to contribute of the same. Warn people if you caught one.

good advice, it will help people not be fooled by the fake ico project

I don't think mods would have the time to review or verify an ICO before it is posted on the forum however it is the duty of the community, you and me to always check those ICO and do research on it and report it as a scam if it is found to be so, that way you are contributing positively yo the forum. Many people have been doing this for the community for some time now. 

Not that difficult if you know the basics, scam ICO tend to use fake LinkedIn and random people's photo profile aswell. If you take a look, their picture always somehow quite fishy and do a google image research on that one. It's quite easy. However, whitepaper could be bought from someone else but the authenticity and how the whitepaper stands with logical and technical explanation is what matters most.

Finding out the differences between legit to fake ICO's is quite difficult especially when it comes to projects statistics or projects main idea. Sometimes fake ICO was very realistic and that's the reason why there are so many people especially investors are being scammed. But with the help of some legit site that observe ICO's development and roadmap it could be prevent widespread of scam of fake ICO.

You need to find them by doing extensive research before investing your hard earned money and it is nut a simple job because those scammers are doing everything at perfection to steal lot of money from people.we can get an idea when we knows about the project team.

In my own opinion detecting a fake ice I just first check if their road map, team member, white paper of the scope and presentation of the projects. Then I check their previous work that they accomplished if it succeed or not. Their trust on their profile also one of the best requirements.

its not too hard actualy
I'm just looking for legit ico on rating platform like tokengrade.com , ico bench etc
I can only believe in projects whose teams have been verified by KYC it's for how I can choose a good ico

If it's an ICO, it should have a token based on blockchain technology and a clear explanation of how it works. It does not prove this, which means it may not be legal.

This is really hard to know fake ICO you must observation and make research to spot this but maybe you can read this https://bitcointalksearch.org/topic/guidelines-how-to-spot-a-scam-ico-report-effectively-5004397 maybe this can help you. And always cek at here https://bitcointalk.org/index.php?board=83.0

Good suggestion but I guess admins here in the forum are aware of the rampant scam ICOs but still don't have a perfect solution fort his issue, I hope they are on the works. While we are waiting for that to be realized, please follow this thread https://bitcointalksearch.org/topic/list-of-scam-ico-proved-4981560 about the proven scam ICOs so you could be aware and protect yourself.

I think it's really difficult to know that an ICO is a scam or fake but I do have in mind on how to be able to find for a good ICO. I usually do make a research of my ICO choices and look for the ratings coming from the experts review and then I check on the team members if their personal information is being posted on the ICO website. Next, I read the whitepaper just to check what the project platform is all about and the bounty manager who handles the project which I believe higher ranks should fit for the position with no red trust rating. Lastly, my last consideration is to check the spreadsheet if there are many high ranking members that are participating which I believe legitimate to my preference.

the first thing i control on an ICO is the team.
who has a fake ICO tends not to post any update about the team, with no links to profiles like linkedin, facebook or so on
the second thing i see is the whitepaper and the quality of the project. the scam ones tend to be vague.
the third thing is the communications of the team, the time to respond to questions and so on.

Mostly i look at the team behind it, what they have accomplished so far and if they have digital trust..

Fake ICO will always have improper looking bounties, no proper graphics, roadmaps, and poorly written whitepaper. An ICO which is legit one will always take their own time in creating all these stuff because they know very well that these are the first things which people come in contact with and thus can be first impression cum last one!
An ICO with fake profiled team can be another sign of illegal ICO. So better study those profiles by looking at the linked in profiles of them.
I am pretty sure these are the first line of signs which can tell you many things about the ICO. Just go through them thoroughly and you are good to go.

No one can be 100 percent sure if an ico is fake or scam and that is the reason people invest or promote even such intentional scam projects, there can be some signs though that can be considered as red flags like copy paste of some other projects website or whitepaper content, fake or suspicious team members, too shiny or high profit claims.

I want to ask about fake ico that is too much lately, is there no controller about it in this forum, too many people are fooled by fake ico, should I have ico verification when creating an ico thread in this forum to make it clearer the ico project