Topic: [How to] Detect and recognize projects - page 2. (Read 424 times)

Mostly happen with new known exchange. If user want to be safe from IEO scam, the research they do must be included the exchange. Let see about IEO on Latoken, IEO project there mostly died. New project now do their IEO on Probit and another new known exchange. If they just seeing probit, i'm sure they will be trapped in another scam project easyly

It's more difficult to detect recognized projects than detect a scam project. There are some potential symptoms to detect probably scam projects. But detect recognize project isn't possible anyway, because what we have seen previously that, many projects with legit team and documents skip with investors funds. Perhaps we may find some recognize IEO projects on the reputed exchange, but for ICO it's almost a dream. We don't know really what is around the team's mind, they will exit or they will develop what they had promised. I am hopeless about the ICO industry and I don't know the IEO trend will last how long. Because few worst exchanges involved with the 'so-called IEO' scam.

I like your collection/compilation as Ive always read some of those guide listed there. Its really helpful cause Ive always checking out some new ICO/IEO with campaign and reviewing their project thoroughly.

Topic like this although pointed in general should be here on B&H as a guide for newbies.

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OP, Id like to suggest the technology and use case involved can be a good indication of recognizing a good project.. There are some projects that have a really great innovative platform but doesn't have any team info or activity on social media.

This is indeed a fact. I remember joining a signature campaign back then (bounty project) and worked so hard to promote it as it had a nice telegram community and a promising project (wearable crypto-supported watch wallet), and it haven't plagiarized it's whitepaper (I've investigated it) yet in the end for I think 2 months of the campaign, it turned to be a scam saying that they are processing the payments but they didn't. They even kicked everyone out on the telegram and could not be reached at all. Glad I never invested on such projects but I also think that what if other newbies in here did, hence I found this kind of thread very helpful. Though this must also be on the Reputation section, I think this fits here as a tutorial, a warning, and a reminder.

There are many topics on this, so let's go to bookmark them and use them later when you need to investigate new projects Collection of comprehensive guides on identify and avoid scam projects

OP, your topic is integrated too and thank you.

Your guide is too general and in my collection there are some great guides on how to detect fake images for example. If readers need to find more detailed guides, my collection can help them.

Whatever search engine used by user, it will not a good idea if user not re-check their domain and reviews. Few years ago i'm trying to use duckduckgo to search about bitcointalk and ledger sites for my mini research. What i find from that, the results in number one i got is bitcointalk[dot]to and fake ledger website. Comparing search results will not effective if user still believe in something untrusted. But, if we want to compare we can use different keywords, this will help us to play in search engine algorithm. Stay away from project review site, and we can try to search in forum discussion trough search engine, example site:bitcointalk.org project name discussion or something else.

Relying on Google for all your search answers is not a good idea, as some of their results are misleading and could potentially lead to a scam website. Rather, aggregate the result on different search engines such as; duckduckgo, bing, etc and compare them.
These are simple yet vital questions to answer before investing in a project. Most projects are copied rehashed ideas and the blockchain is usually added to make it more appealing and to key into the hype.
The small percent which checks out could however still turn out to be a scam due to the greed or ineptitude of the devs and founders.

In addition, these so called scammers are now paying for Google Play Store for app ratings, making them legit and somewhat trustable. This is something to be careful of that's why users are strictly advice to go download app from the project website. It's just a simple solution to avoid been scammed and victim.

Phishing site on Google are sometime too vague to recognize if we are not careful. Apart from a lack of knowledge, entering a website too quickly without ensuring the authenticity of the site often result in people getting scammed. The safest way so far that I have done is to save site that we often visit in bookmark including exchange, forum and so on. In this way I think we can improve security rather than fraudulent attempt that are too often found on google.

I would just like to ad that even if all those things that OP mentioned checks out (team is legit, no plagiarism, website is functional and decent etc) before investing either time (bounty hunter) or money into project, ask yourself does it make any sense, does it bring anything new and does it need blockchain at all. 99% of the time answer to those simple questions will be no.

Yes, @lovesmayfamilis. I already saw the threads you linked and a few other threads.
The point of this article is to show my point of view through these project, The other people maybe have some other factors to recognize such projects and sometimes same as me. By creating this thread and exposing some scams, I just hope to make the people learn about how usually scam project acts. Because a few years ago when I started working on crypto, I was a victim of a ponzi scheme project myself. Thanks for the comment mate.

I probably won't surprise you by saying that the above methods of checking scam sites are not the only ways. Today scammers have learned to work very professionally by promoting their dirty ideas. If you look at the topic of Scam Accusations on this forum, especially in 2018-2019, the resourcefulness of the scammers has broken records. I remember that there were projects that hired real actors, rented premises to fully correspond to the invented project.

I also came to the forum as a naive newbie who believes in every ICO project. Later, I came across a post by Coolcryptovator, for which I am sincerely grateful to him
This was the motivation to start understanding the fairness of different projects.
OP, I think that would be a good addition to yours.

🌍 Guidelines, how to spot a scam ICO & report effectively. ✔

🌍[Guide] Prevent scam!!! Some useful tools for find scam / fake ICO team 🌍

Here in this the article I'm going to explain about how do I detect and recognize scam projects in crypto market. However, the method they use is usually same, unless a few projects with more creativity.
Let's say by rising the value of the crypto currencies specially back in 2017, many fraudsters started to trap victims and mostly newbies. From beautiful shiny but fake ICO to tempting profits in short-term.

Domain Name
These websites will try to trick into thinking they are official websites of well-known brands (Facebook, Adidas, etc...). While, they have not any relation to the actual company. Also, make sure that the domain name is as it was expected, especially if you are clicking a on link. For example, when you are expecting to enter coinbase.com, you may they redirected into colnbase.com, with exactly the same skin. The only difference is colnbase.com will collect your username/password and for the abusers (Phishing method)

Apparently Flawless and Excellent
This usually happens when you are searching for good online in low prices. For example, when you are going to buy iPhone 11 for $300. 'No discount is unreasonable'. They will try to collect your payment information and maybe you will not even receive any goods at all. Also, I saw this method when a website was trying to sell Bitcoins for $3999 while the real price was more than $5000. If you need any huge and unreasonable discount you will need to double check everything and make sure. Also, the other example for being apparently excellent and tempting is to promising huge profits, try to understand and make sure about how they should provide you the profit.



Check the Documents (even if it's hard to read)
Some exchanges/casinos will put some conditions for the service. For example, you will need to do KYC before the withdraw the they maybe ban your country, or they maybe have a rule about using VPNs. Usually the list of user agreement is super huge with small font but if you re spending you money you need to read the agreement. 'Do not sign anything without reading' by registering the account you are actually signing the user agreement. Also, the other important document is the whitepaper, always read the whitepaper before you even think about investing. However, whitepaper can't guarantee anything because there are some writers doing the whitepapers for some money.

Trustmark
Trustmarks are a method for third-party verification for an online legit business. These licenses are usually for centralized business, if you see crypto related website with governmental trustmarks double check the license. For example, the license was published for 'Henry Investments', now the scammers can create a fake company with this name and abuse the trustmark, or they can easily change the name using Photoshop.

Check the Domain
Using the websites like https://who.is you can check the domain information about the website, domains registered for short periods of time are suspicious domains. Because the scammers will usually run the website for short periods of time with small amount of money.
Also, check the other websites registered on the server, usually the buy one server and run multiple scam websites on it.



Reviews
Never ever trust the comments and reviews on social media and trustrating websites. Many project will pay some small money to people in order to send some positive reviews for them, they even give them some payment proof screenshots to broadcast in public.

Team Members
This is a a very known method when scammers take some photo from random people from social media and put in their website. A simple image search can be useful here.

Thank you for your attention.