). For now, scam project has interface look very truthworthy and it's not easy to detect. Don't trust any ICO listing site cause they're also promoting for these kind of scam projects.
Topic: How can the ICO scams be identified? - page 4. (Read 697 times)
I think it's really hard to know which one is scam project or not. For example, BITXOXO exchange ICO project look very professional but it was reported as a scam project ).
For now, scam project has interface look very truthworthy and it's not easy to detect. Don't trust any ICO listing site cause they're also promoting for these kind of scam projects.
). For now, scam project has interface look very truthworthy and it's not easy to detect. Don't trust any ICO listing site cause they're also promoting for these kind of scam projects.
no whitepaper. no team. no active social media. no blog. no articles. no roadmap
Dear All!
As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
It's really hard to tell whether an ICO will scam you or not but there are some certain measures that you should be doing before investing in an ICO. For you to be able to know about the project you should read the whitepaper for you to understand the nature of the project whether it is realistic or not. It is also very important to know the people behind working with the project. You need to research as well of the possible affiliates that this project have to back them up for their development. Make sure that the project will also address a certain problem that most tokens or coins wasn't able to deliver for it to be useful and have value when its launched to the public and always follow your gut feeling and intuition almost all of the time it's correct when your in doubt about investing into a scammy project.
i don't know who started it but there used to be escrows who will hold the funds. also some ICOs are done by exchanges as well. now its hard to distinguish all these ICO that can potentially scam. these days i just reply to those team members and the product they had already developed. but even so some are still scams. i have seen multibot which did an ICO, i saw it had a working product but the dev disappeared still.
Dear All!
As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
I do not know because I see that many ICO projects are scam and that is caused by the many investors who take money from the many people who want to invest in ICO and with so many people who fail to invest in ICO because I know before we follow the project ICO is better we look from the white paper and the team that runs
If you are invested or plan on investing in an ICO, you need to due your due diligence. Do all the research you need and be active within the community. Stay sharp and always communicate red flags with the community.
It is really hard to identify when the ICO you participate is a scam or not. It completely relies on the team of the ICO. If they want to exit scam all the funds they can do that. But there a some keypoints that you can assume that its scam like, when you verify the team of the ICO you are participating is a fake accounts. When they didnt have enough compliance with the law. And most especially if the bounty manager that is holding a bounty campaign does have negative trust. You must be cautious on that.
Next time try to google things you want to ask as I am sure that this question was already answered by many sources out there, even you have some very similar topics on this forum regarding your question...
For instance here is your answer that I easily found on cryptocompare: https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/
The problem with a lot of new investors or those in this community is they cannot just do some research to be able to give an answer to their own question and this is why they always end up a victim of these so called scammers until they realize how foolish they have been for being allowed to be played. A lot of investors focus mainly on the idea of the project and forgetting if there is actually a team that can pull it off or if there is a product on ground and this is where they always miss it. For instance here is your answer that I easily found on cryptocompare: https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/
Dear All!
As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
many ico categories are said to be a scam because of the games of people who want to capitalize on their own benefitsAs many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
this is something we can not know and after it is completed then the project never realized and can be said scam
this is very painful for people who join the ico
Very difficult question if the person knows the answer to him, then he will become one of the richest, but it alas never happens. Whether there are no guarantees as in success of the company and in that decent organizers. It is risk without it anywhere. Personally I analyze opinion of several sources and I lean on the intuition.
Dear All!
As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!
It is very easy, if it's an ICO you stay away from it.
Yes, you never will know 100% the team may not raise the required amount and you too will be without pay. Therefore, risk is our everything.
it is very difficult to recognize whether ico is really real or just a fraud but to reduce a risk then we should read whitepaper and see the team inside the ico
you can find ICO scams from their action in this forum and social media, if they are no activity and they share unreasonable bonus to you, if the project value is something will give a bad impact to this world and there are no trusted person and advisor in their team and they dont have clear infomation about their project you need to aware from it.
First, know if the project is not make believe with just fancy words inscribed into it.
Second, know if the team working on it are legit and if they really are the people working on it because some use someone else's legitimate identity to scam people.
That's my basics on identifying scams.
Second, know if the team working on it are legit and if they really are the people working on it because some use someone else's legitimate identity to scam people.
That's my basics on identifying scams.
It is difficult to determine which ICO is fraudulent. ICO is like calling for investment so they can develop their ideas. Usually we will know they cheated after the ICO. A lot of tricky appearances make us believe. and then they will run away. ICO investment is always a risky choice
Very interesting question, and I think everyone knows the answer to it perfectly. There is no 100% guarantee that the project will not prove scam. Of course, you can reduce risks to a minimum, but it's still not a guarantee
That's right we can do for now is to reduce the risk of getting scammed by those fools who just want some money but did not care about the legitimacy, ICO scores and ratings may help from reputable sites but scammers are getting smarter these days as they are the wolf clothing sheeps they will serve you a very beautiful and visionary ICO's and platforms to hide their true purpose, but it is not generalized as some of them are just failing to deliver their own products or token sale.
Their project abandoned
Admin on the group never chat anymore
Their group disappeared
Their web can't be accessed again
That's the major for scam identifying for ICO i think
Admin on the group never chat anymore
Their group disappeared
Their web can't be accessed again
That's the major for scam identifying for ICO i think
If the ICO project does not have open source code, you need to be careful.
Because a good ICO project will open source code.
Not every good ICO may have an open source code as there would be some exchanges that would rather prefer to keep their source code to themselves if they have some pretty much important stuff to dish out than exposing it.Because a good ICO project will open source code.
However, I want to focus on the part of the team, because I believe that every good ICO project should have a good team and at least close to ready product which is the real thing on is investing in here and not empty promises. As long as it is all just empty promises, then there is really nothing to invest.
It is hard to tell on how to identified scam ICO's due to the widespread of scammers. However there are many strategies to avoid scam ICO's first you need to read the platforms of every ICO's tha you are willing to join. Then reading their whitepapers and roadmaps for you to understand what was the objectives and what is their main goals for launching their projects. Asides from that you should better thi know and identify all persons that involved in tha ICO you must check the developers of a projects and also looking for their legit website and group channels are the good way to avoid scam ICOs.
If we didn't yet identified a scam ICO's! We could already avoid scammers with the use of our knowledge, abilities and perseverance.
If we didn't yet identified a scam ICO's! We could already avoid scammers with the use of our knowledge, abilities and perseverance.
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