How can the ICO scams be identified? - page 5.

yanto@1977

full member

Activity: 686

Merit: 100

★Bitvest.io★ Play Plinko or Invest!

Quote from: Sysmark on May 07, 2018, 05:13:19 AM

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!

I only see from their info up date from social media, if they keep give us information I can say the developer team are working. Second thing is from telegram channel, if I see many complaint about the services I'll leave it. I only you those thing to identified scam ICO. No one know the true,just prepare for worst or only follow ICO after listing on exchanger.

Matdog

copper member

Activity: 462

Merit: 100

Quote from: bloodyvio on May 07, 2018, 08:53:43 AM

check their github project and make sure their code does not copy paste from other project
and do extensive research using google like searching their office address, their team profile, whitepaper, roadmap and partnership

I think so too, you have to understand the areas that affect the project and represent the prospect,
we need to know also what about the technical documentation, and how the members of the project
development team, we can also see their telegram and ask directly or communicate with them personally.
With this we will know more with this project.

bloodyvio

full member

Activity: 546

Merit: 102

check their github project and make sure their code does not copy paste from other project
and do extensive research using google like searching their office address, their team profile, whitepaper, roadmap and partnership

sakuragi03

newbie

Activity: 25

Merit: 0

Quote from: Sysmark on May 07, 2018, 05:13:19 AM

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!

The only way to find out if ICO is a scam, you have to do some research about its background, people behind it and if they have a professional website with a clear roadmap and goal. Also, if you will see their thread here, it should be organized and the bounty manager has a respectable rank in bitcointalk.

ZaynDale

full member

Activity: 238

Merit: 100

T H E G O L D E N I C O

Quote from: Sysmark on May 07, 2018, 05:13:19 AM

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!

This year is different as scammers can make fake ICOs that everything are too good to be true.
They could even make better websites than legitimate ICOs and they are smart enough to handle everything related to run an entire ICO pre and post stages.
They're even know how to increase the active members on their telegram channel that people cannot spot them to be fake or scam.
Recently, as bounty hunter, we used to be the victim of scam and fake ICOs like Denaro, RPay, Librium, AltOwl etc.
Those fake and scam ICOs are identified after their ICO sale and because they're not regulated, scammers aren't identified until today.

zpopdream

newbie

Activity: 36

Merit: 0

I believe intuition can be very important

As for the project itself - you simply should do a very detailed research before contributing: check the team (twice!), WP and get really deep into the project itself

VasiloviKola

newbie

Activity: 177

Merit: 0

Quote from: Sysmark on May 07, 2018, 05:13:19 AM

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!

Very often scams have no big community in social media and networks, the team is not well identified, there might be some names, but they are barely concerned; scam projects are not transparent, they have some general info, less information is provided more scammy project is; these are the obvious features, but you shall look at project in general.

I would recommend ambit mining ICO - it is one of the best projects which are live now

Sapphire9

member

Activity: 298

Merit: 21

First of all you should read whitepaper properly, make research about the team members, location/contacts of main office, ico ratings and so on. But unfortunately even these steps can't protect you from scam, sometimes it is practically impossible to distinguish between real project and scam

TTITA

full member

Activity: 378

Merit: 100

Topics like this are very much discussed in this forum. Basically it's hard to see an ico will end up scam or not, some indicators like more observant to see whitepaper, project team, etc, whether good or not, it also remains not a guarantee that will be a successful ico or ending a scam. So investment for an ico project is a risky speculation.

brotherwood12

member

Activity: 686

Merit: 30

you need much data/information to do that i think
research about people behind it , research about that idea , plagiarism or not and many more

beerlover

legendary

Activity: 3108

Merit: 1199

Quote from: Sysmark on May 07, 2018, 05:13:19 AM

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!

Anyone who wants to invest should always understand the area of their investment and how they can stay safe and it is obvious the things to be done with respect to this regard. Firstly, looking at the decentralized and uncontrolled nature of the market, it is obvious there are just some set of people called scammers who saw it as an opportunity to fool the naive ones into investing into their fake project.

Now, the part is to be able to dig up the team to be able to get better facts on how they intend to proceed and if they are for real. With that, it is always a step to at least limiting the risk.

Ereun

full member

Activity: 322

Merit: 100

Product or Project Team, It's no secret that the success of an ICO project relies heavily on all executive management teams such as CEO, CTO, CMO etc. These are the people who will face the strategic technical challenges of the product project later on.
Besides that a lot of suggestions that have been written in this forum or you can surf on google, Thank you

erikoy

full member

Activity: 686

Merit: 125

This is very difficult to answer if you will going to question a scam ICO from its early period of fund raising since we do not know who are there investors and most of the ICO do not have a live sales on their tokens. But as the ICO goes to end there you can notice a project that has a lot of possible investors in their telegram channel and most of them will ask on how to invest on their project. So i guess those are the indicators and you can ask also the admin if they are able to raise the soft cap and if they then that project is good to go or it will success.

rezurect

sr. member

Activity: 686

Merit: 250

Quote from: Lontongmie on May 07, 2018, 06:46:50 AM

Previously, it was much easier to define a bench. I think that now scammers spend big money to make their projects look like they are real.

Exactly. They even pay big listing fee's for exchanges only to pump and dump there, slowly disappear and let the coin die out.
They pay hundreds of thousands for certain exchanges listings (sometimes millions), but they know they are going to make bank off of it.

gerjiss

member

Activity: 336

Merit: 10

Initially, you need to look at the site of the project, because it happens so just look and immediately see that something is wrong here. It is too frequent to mention that it is necessary to invest in this ICO. Here's an example: https://www.localcoinswap.com/team.html
I do not undertake to judge this ICO categorically, but I would not recommend participating in it. In addition, bounty company is managed by a Manager who has already differed in the past participation in a fraudulent ICO project.
Here is a link to the project: http://www.pycoin.io
Here is a link to the bounty Manager of the company: https://bitcointalksearch.org/user/blurpie-355683

Lontongmie

sr. member

Activity: 448

Merit: 250

DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

Previously, it was much easier to define a bench. I think that now scammers spend big money to make their projects look like they are real.

Praesidium

full member

Activity: 409

Merit: 103

It is easy to know whether the ICO is a scam, just check the team behind the project search the people behind it one by one and you'll know whether they are true or just a fake also you can check the website if it is copied from other website.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: Sysmark on May 07, 2018, 05:13:19 AM

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!

There are really no specific way to distinguish whos scam and whos legitimate in ico project,specially if the scammers are expert in this fields..even me i admit that because of the great copycat skills of this scammers i dont know how to find then,though some of this fails on their ICO SITES because most of the times in this area we can catch the,

dealung

full member

Activity: 378

Merit: 100

Quote from: Sysmark on May 07, 2018, 05:13:19 AM

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!

You can see from their team members then check their photos one by one using photoshop whether the photo is edited or not, then check from their white paper whether or not the project they made, check their website and ask in this forum.

Vasyan

newbie

Activity: 238

Merit: 0

you need to learn as much as possible about the creators of the project, search them in Google, find their pages on social networks, you need to make sure that these are real people, then you need to know what they were doing before this project, and so on, you should learn about them everything, and if you await at least a little doubt about the honesty of these people, then you do not need to take part in this project

Topic: How can the ICO scams be identified? - page 5. (Read 721 times)