Topic: How to detect a scam ICO? - page 2. (Read 2513 times)
Certainly first check for team member and their advisor.search them on net.sometime scam ico often take photographs from internet and randomly select advisor.there is no harm to check before investing.now majority of all ico take kyc ,it is also a factor.you can check their address and search them if their company is registered or not.always check their bitcointalk profile bcz there many scam buster people here so you will automatically get to know.
I look for terms and conditions. If there is none, that a big point of concern. If the T&C are available, I look to see what it is that the issuer contractually undertakes to do.
For me it is hard to detect it for the first place, it can be detected when it is in the middle or in the end of the ICO, maybe in lack of information or details of their sales or no response from the team, or they just run away. My strategy for investing on ICOs is to see it first if their support is very interactive and they have the list of the team behind the project, whitepaper, roadmap and when it hit their market cap because it is sure win.
How to detect a scam ICO?
It is a bit awkward to give tips to a Sr. Member when I am still a Full Member. But here's what I do. I go to their ANN thread first and check the details as well as on how responsive they are. I then go to their website to check everything there especially the team and partner companies. I then read their whitepaper to look at the details on how they plan to make the project into reality. The roadmap and coin details are also very important to look at.
I think you can check their website and social media for more information. Know about their project and team also. Good ico generally use block chain. Read their white paper and all necessary documents to find real investment ico.
You need to study the team, algorithms, project roadmap and most importantly see opinions from others. If it's a really good project then there will not be any dissent
That is all correct. In addition to it, you try to check their wallet addresses and their transactions. There are several projects here that were caught having some dumping transactions using the wallet addresses that are also used in receiving ICO contributions.
I know this reply is over a month old, but what do you mean? They were caught dumping - do you mean while the ICO was going on?
You should always look up all of the members on the team and see if they really exist and have the experience they claim they have. I always avoid ICO's with an anonymous team since it's just too risky even though it's not necessarily means it's a scam.
+Sometimes you'll see names with linkedin profiles, just check how long the linkedin profiles are active, how many connections that person has and cross checking with google helps a lot
That's a half decent approach but don't forget that all kinds of accounts get hacked or sold so you're trusting a lot.
Good point and yet, many of these scammers still don't have the ability to look like real people to me.
How to detect a scam ICO?
If the team don't want to be published their name, social media and etc. The legit and trusted ICO have the escrow to monitor the ICO development. Join in the ICO with the reputable manager like YAHOO, NEEDMONEY, SYLON, AVIRUNES. They are responsible in the campaign and they also active escrow. They'll update the news about the ICO on going, activities and the date start of ICO. My way, search for the team in google. Check their linked in/twitter profile to know whether they are really linked to the project or are just stolen photos.
I agree with this advice. I would check the people out. I've found a lot of these profiles are fake.
This forum has a lot of information on this topic! If you study well the advice and comments, and also have useful websites, then you can find out where the scammers are, and where they are not. But you need to spend a lot of time on this!
It's funny a LOT of people who are doing ICOs are posting articles and blogs about scams.
They then write a list of things only legitimate ICOs do.....and no surprise they narrowly define everything to just suit them and no-one else.
Really silly. So they imply every one is a scammer except them.
They then write a list of things only legitimate ICOs do.....and no surprise they narrowly define everything to just suit them and no-one else.
Really silly. So they imply every one is a scammer except them.
These days all ICO's become scams.i think the last succesful and popular ICO is monetha's maybe centra's(there was so many problem during the ICO).these days most ICO's dont hardcapped.i invest DOVU its the best project of autumn but its collected few.i strongly suggest to look it
This is not that easy but possible. Does anybody bought ReCoin?
Here is more about how they lied about 4-5M raised while in fact it was about 300K https://t.me/yoken/21
Here is more about how they lied about 4-5M raised while in fact it was about 300K https://t.me/yoken/21
It's probably likely that many projects lie about how much they've sold, especially in the first few days, in order to create FOMO (fear of missing out) and fake hype/popularity.
This is not that easy but possible. Does anybody bought ReCoin?
Here is more about how they lied about 4-5M raised while in fact it was about 300K https://t.me/yoken/21
Here is more about how they lied about 4-5M raised while in fact it was about 300K https://t.me/yoken/21
How to detect a scam ICO?
I think ,there's no specific way to know if the campaign is a scam or not. Joining campaign is also like investing, there'll be times that you will earn nothing. But you may alsp look for factors such as checking and searching about the ICO. You may also consider checking the background of the ICO team. I don't know if this one is effective but I also prefer some campaign managers espexially those who has lots of experiences on managing campaigns.It's EASY to detect most of the shit or scams, and most of the ICOs are shit or scams.
You only need to do about 5 minutes of research and you will find major problems with most of the ICOs.
Most of the ICOs have built nothing that you can use today. That is a major flag. This means that they cannot prove that they can build anything.
Several project have raised millions of dollars and still have not built anything, despite their 10 member teams and fancy videos. This number will explode in the coming years.
How to detect a scam ICO?
I think ,there's no specific way to know if the campaign is a scam or not. Joining campaign is also like investing, there'll be times that you will earn nothing. But you may alsp look for factors such as checking and searching about the ICO. You may also consider checking the background of the ICO team. I don't know if this one is effective but I also prefer some campaign managers espexially those who has lots of experiences on managing campaigns. 
It is not so easy to detect a scam ICO, but first of all you should read a white paper several times, learn about team and members, read about advisors and their reputation. Ask some people about this project. after that do some research and take a discision.
I think if the ICOs has a profound and precise cause, intention and description of the project with strong foundations and sources. This kind of ICOs will provide enough information and data for transparency.
If none is given then I think it's a scam.
If none is given then I think it's a scam.
There are a lot of ICO rating/evaluation organizations out there now that can do the basic due diligence for you. That won't necessarily tell you if an ICO will be successful or profitable, but should weed out the scams. Examples:
ANYTHING affiliated with Cofound.It (those guys are in the business of ICO mentoring and launching--they are the best out there as of right now)
ICO Rating: http://icorating.com/
ICO Bench: https://icobench.com/
TokenMarket: https://tokenmarket.net/
ANYTHING affiliated with Cofound.It (those guys are in the business of ICO mentoring and launching--they are the best out there as of right now)
ICO Rating: http://icorating.com/
ICO Bench: https://icobench.com/
TokenMarket: https://tokenmarket.net/
Don't rely only on ICO rating organizations. They may claim to be experts, but you don't know for sure. You are likely more knowledgeable about your field, whether it be medical, engineering, gambling or finance, than they would be.
They would also be biased. Some are staffed by mainly people from a certain country or region. Does that mean that they are biased for ICOs that are from their region? Putin hosted Vitalik Buterin in Moscow. Russia wants to grow the crypto industry in their country. After that, there has been an explosion of Russian ICOs. Is Putin funding these ICO ratings organizations to favor Russian ICOs? We just found out that Russia took out lots of ads in Facebook, to disrupt US and European politics, so it wouldn't be stretch to think so.
Look for a working product thats close to ICO date, something you can test or see other people using. Best way to try and avoid a scam.
Jump to: