How do you make sure a projects funds are safe?

rahmatullah9305

full member

Activity: 983

Merit: 100

Quote from: Surmount on July 11, 2021, 03:40:55 PM

Hey everyone,

How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.

What are you looking for to verify that they won't run away with the cash?

Any ideas on how a project can build trust with the community on this topic?

What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?

If we already know there are projects that can guarantee the money we invest, of course there will be many people who dare to take this good step, but in reality we have to be careful in investing in new projects. for the safety of the money we invest, it's better to invest in old projects if you don't want to take bad risks.

TomArayaSlaya

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Activity: 812

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https://hovr.site/

When is SAFU then is basically safe I mean technically but just be sure be able to afford what you can lose in crypto market especially new project or coin because those one have to follow rigorous process :-

ololajulo

sr. member

Activity: 2226

Merit: 270

Chainjoes.com

Quote from: Golftech on August 09, 2021, 11:28:34 AM

It will continue and we have to work more in securing our investments, scammers are just checking

those investors who are not aware of this process, or some lazy traders who are not doing research

and just quickly invest their money to those assets.

Like I advise friends holding fireprotocol and other exit scams, if your tokens are still on the top exchanges through the next bull market in the altseason this year, they might likely pump hard again but make sure you sell all cause they will die without the team. Exchanges and whales might likely want to make profit out of it if possible. SONM was already an exit scam in the bear market but made its new ATH 3 months ago when every coin was bullish because it is still listed on binance.

pieppiep

hero member

Activity: 1596

Merit: 502

in the world of cryptocurrency, in my opinion nothing is safe even though he uses any method of collecting money, there is still a risk for the developer to bring the collected money, it is better if you want to participate in a project then you have to be careful and have to accept the risks. .

terizla

sr. member

Activity: 555

Merit: 271

I trust a projects if that's has partnership with another trusted projects. But this is not enough, i also do research about that project like their website, social media, team and also see how their team handling every complain from people.

kak uli

full member

Activity: 1246

Merit: 103

Quote from: Surmount on July 11, 2021, 03:40:55 PM

Hey everyone,

How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.

What are you looking for to verify that they won't run away with the cash?

Any ideas on how a project can build trust with the community on this topic?

What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?

I think this topic is very interesting and needs further discussion, this is a very good question in my opinion. before investing in a project as you mean, you should first pay attention to the community of those who want to develop a project. the rest you can also check some of their websites are they real or fake websites they attached. you can also see the updates they are doing, if they are serious in developing then there will certainly be updates every time. build communication among investors that is more important to do.

kumala_abi

sr. member

Activity: 798

Merit: 250

GoMeat - Digitalizing Meat Stores - ICO

Quote from: pieppiep on August 09, 2021, 01:07:42 PM

in the world of cryptocurrency, in my opinion nothing is safe even though he uses any method of collecting money, there is still a risk for the developer to bring the collected money, it is better if you want to participate in a project then you have to be careful and have to accept the risks. .

some developers have bad character , and they just take our money and then leave the project till its die. we've been see it many time , CEO or another team run with investors money. To overcome this problem we have to always care about dev team background, is it trusted person to manager our money building project or no.

lalabotax

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Activity: 1498

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BK8 - Most Trusted Gambling Platform

Quote from: Surmount on July 11, 2021, 03:40:55 PM

How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.

I will not go to ICO. I will prefer to follow the IEO of a project in the middle-top exchanges. Or I will alternatively go to Launchpad in middle-top exchanges. Moreover Binance.
If ICO, I will not risk my funds again there.

Quote from: Surmount on July 11, 2021, 03:40:55 PM

What are you looking for to verify that they won't run away with the cash?

How they sell the tokens, their team, roadmap, and also the detail of every proof of the projects. Of course, fundamentals are a good reason too to take the project. but not for ICO.

Dragonfund

full member

Activity: 546

Merit: 148

Quote from: ?? on ??

Many projects within this bull market dip had seen their team run away. These are projects already listed on top exchanges but no more communication with the investors and holders on their social channels. Some of the team members had left the project for new one without hiding this from the public.

The major many investors did back during the last bill run was that, they all think since project easily get listed on Uniswap and other decentralized exchanges give them this immunity over fraud but it turn out that it was even a stepping stone for developers to steal from investors.
Again, how most of them fell into this trap was because they were all greedy, most of top altcoins were ready pump and since they already miss out, they sort out for alternative new projects to 2x,3x and 10x. While some turn out well and some ended in tears.

vabchgent

sr. member

Activity: 840

Merit: 251

Quote from: ololajulo on August 10, 2021, 03:55:07 PM

Quote from: Golftech on August 09, 2021, 11:28:34 AM

It will continue and we have to work more in securing our investments, scammers are just checking

those investors who are not aware of this process, or some lazy traders who are not doing research

and just quickly invest their money to those assets.

Like I advise friends holding fireprotocol and other exit scams, if your tokens are still on the top exchanges through the next bull market in the altseason this year, they might likely pump hard again but make sure you sell all cause they will die without the team. Exchanges and whales might likely want to make profit out of it if possible. SONM was already an exit scam in the bear market but made its new ATH 3 months ago when every coin was bullish because it is still listed on binance.

But does that really solve the problems? When you sell coins that are worthless and part of a scam project into the hands of someone else who knows less than you? You might be better off, but from the community perspective it is still a victim that now holds a bag of scam coins and lost money. Selling a scam project to another person and exploiting that person's lack of knowledge isn't that much better than the scam itself.

Gunday_07

member

Activity: 280

Merit: 11

Join projects from reliable fundraising platforms, l recommend looking into polkastarter for example they have strict rules and there is no room for projects escaping with investors money for years to come, do some research on that

cdog

hero member

Activity: 1036

Merit: 500

Quote from: smartaction on August 09, 2021, 10:52:03 AM

Read whitepaper or litepaper and follow there promise and token features after that check token contact And match the features of the contract address with the words of the cables. If all goes well then follow their developments regularly. If you find a development match with their promise, you can decide to invest there

All projects after the public sale program have been developed very well according to the roadmap but cannot be used as a basis for trusting the project completely because some suspicions were found after the development of the next roadmap stage, my suggestion is to bookmark the contract related addresses and usually there are parties who activate token notifications on the telegram bot.

zidanw

sr. member

Activity: 1162

Merit: 258

1xbit.com

Contract address they say, but I'm really not sure what to look at the contract address. I'm an investor of ICO before but before that what I try to do is just follow my instinct, check the roadmap and whitepaper other than that just trusting the the project however I've been scammed multiple times and I don't think that method is right or probably not enough. I'm curious too how to check if the funds are safe, thorough looking at the contract.

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: TWW on August 09, 2021, 09:53:09 AM

Quote from: ?? on ??

Many projects within this bull market dip had seen their team run away. These are projects already listed on top exchanges but no more communication with the investors and holders on their social channels. Some of the team members had left the project for new one without hiding this from the public.

that's what happens a lot in the case of new projects like that. We are like returning to 2018 which will see many successful projects in sales but running away from the community and investors.
we have seen many such cases in the past. and I think it will continue to repeat itself in the future.

It will continue and we have to work more in securing our investments, scammers are just checking

those investors who are not aware of this process, or some lazy traders who are not doing research

and just quickly invest their money to those assets.

kurniawan05

member

Activity: 1708

Merit: 13

KUWA.ai

It is very difficult to ensure that the money we invest in an ico will be safe and used fully for the benefit of project development, but to reduce risk there may be a few things to consider:
1. Team members have active real social media.
2. Contract addresses are audited by a third party such as Certik.
3. Have real cooperation with well-known companies.
4. In the implementation of the ICO, the funds collected are held by a trusted third party.

tung06081989

newbie

Activity: 252

Merit: 0

Quote from: Surmount on July 11, 2021, 03:40:55 PM

Hey everyone,

How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.

What are you looking for to verify that they won't run away with the cash?

Any ideas on how a project can build trust with the community on this topic?

What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?

i think before you invest any project,you shound search for this team,If you don't find any information about this team,I think 99% scam.If you find some information about this team,you should check how many project they done,and this project is die or devepoping, beacause I see there are many team do more and more project and when they done,they abadon and do another project to collect money from everone.With me,one good project to investing: the good team,there are some people join some success project and now this project are devepoping,you can check them on twitter,facbook or linked,check clear ìnormation before investing,the most importance is team,good team with good person is good project

Xinarae*

sr. member

Activity: 1414

Merit: 326

No one can say for sure that the funds of any project are safe the number of scammers in the market has increased a lot and they are hacking everything by fraud therefore, in order to secure your funds for any project you need to check the sites thoroughly. Your personal information cannot be shared with any other site this will reduce the risk.

smartaction

legendary

Activity: 1918

Merit: 1122

Leading Crypto Sports Betting & Casino Platform

Quote from: Surmount on July 11, 2021, 03:40:55 PM

Hey everyone,

How do you verify that a projects funds will not be stolen by the devs? Many projects hold ICO's or some other sort of sale to raise money for development and many have turned out to be scams where the dev steals the money.

What are you looking for to verify that they won't run away with the cash?

Any ideas on how a project can build trust with the community on this topic?

What would you like to see DAO projects do in the future that would help build trust and make sure funds are secure from theft?

Read whitepaper or litepaper and follow there promise and token features after that check token contact And match the features of the contract address with the words of the cables. If all goes well then follow their developments regularly. If you find a development match with their promise, you can decide to invest there

junkerr

full member

Activity: 1022

Merit: 100

Meta4uStake.io

Quote from: Dedewahyu on August 09, 2021, 10:37:22 AM

No one can be sure the project funds will be safe, a lot of them scam by selling all their coins make softrug when the price starts to rise. But we can trust projects that have passed the audit obtained from reputable auditors such as certix. the possibility that a project will be scam after being audited by certix will be small.

That's right after an audit of the platform it will be less likely to scam.
but the risk to our funds is still there. because when the token is traded the price can fall immediately. not a scammer, but this is related to the market capacity of the new project which is not very strong.

sunny28

full member

Activity: 966

Merit: 100

It all depends on what kind of project it is, I am not going to keep my money on exchanges and similar platforms and I have never kept it.

If I buy some coins, then after the purchase I immediately transfer them to my secure hardware wallets, no matter what kind of project would be reliable - I can't trust my money to him!

If we are talking about some profitable stacking, then I study the project for a few days, look at its dynamics and communicate on social networks about the project, what people think about it.

But I also don't invest a lot of money in staking.

Topic: How do you make sure a projects funds are safe? (Read 889 times)