how to detect desperate Developers and scammers

SabrinaBianka

member

Activity: 633

Merit: 11

Quote from: VDraci on September 17, 2019, 09:35:39 AM

Obviously any project that promises you any of these are either scam or dangerous investments plans managed by desperate developers

1. Huge ROI in short period of term
2. Risk free investments
3. Assurance of what to come
4. Big exchanges listing like binance

I have promoted projects that pretends to have listing plan on big exchanges just to make people promote the project and make investors invest too

Perfect! In the latest update investors got scammed are decreased so that is good look for blockchain, Many of new project are now very useful in the future, Today if your project are for only short term investors didn't participate they are looking now for long term investment and not for easy profit but in the end they are losers and wasting money.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: VDraci on September 17, 2019, 09:35:39 AM

Obviously any project that promises you any of these are either scam or dangerous investments plans managed by desperate developers

1. Huge ROI in short period of term
2. Risk free investments
3. Assurance of what to come
4. Big exchanges listing like binance

I have promoted projects that pretends to have listing plan on big exchanges just to make people promote the project and make investors invest too

Your first two points are the most telling, there is no investment that is risk free, all investments come with some degree of risk attached to them otherwise you will not get profits, but the first point is an even greater tell how they can promise that you are going to get huge profits in a short period of time, they do not get to decide how investors react to their coin and if they make those kind of promises I can assure you that sophisticated investors will not see that with good eyes.

CaptainKid

sr. member

Activity: 756

Merit: 250

First of all, it is necessary to find out what kind of project it is and to pay attention to such factors as the absence of the declared activity in it, whether other people's materials and data are used, the promise of a large income, the guarantee of minimal risks for investors, and the use of well-known names by the startup. All of the above items are a reason to refuse to invest in this project.

febriyana

sr. member

Activity: 432

Merit: 250

Febriyana Muhammad

That is maybe hard but sometimes easy to know.
The easy way is checking who as developers. Try find as much information from internet. Check their Linkedin, Fb, twitter, blog. Also from mainstream news site. Check the photo is it fake or not.
Some scammer is take someone photo and small information about developer.
The hard way is checking the project code, mission, etc.

fosco333

full member

Activity: 1260

Merit: 100

Quote from: VDraci on September 17, 2019, 09:35:39 AM

4. Big exchanges listing like binance

This is the most obvious lie and easy to spot the scam project with this.
Binance not allow the team of the project to disclose the information about listing there before binance announce it.
If there are many good and certain things promised on the project, we can consider it as a scam project.

TanakabZX

member

Activity: 504

Merit: 16

Many scam projects have no team details on their website and there are some scam projects as well that uses stolen identities to fool people, i learned it on this forum that you can search images of the teams one by one with google image search engine, if you are very good with google search you will find this very easy to do, it might safe you some headache

Google+

hero member

Activity: 2464

Merit: 550

Leading Crypto Sports Betting & Casino Platform

difficult to know the project is scam or not but usually you can find out by looking at the team and from the concepts developed that you can see in the whitepapper of the project, a lot of projects are just copies of other projects and usually consist of fake teams.

reality18

member

Activity: 938

Merit: 14

Earn more with Earn Network

Desperate developers and scammers can be identified from the way they deliver their services. Most of them show some haste in delivery and are too impatient for everything. They are easily irritated when a participant intends to ask for more information about the project in order to know the originality of the project. These scam and desperate developers often offer too good to be true discounts for investors - this is to lure investors.

Kocret02

sr. member

Activity: 1176

Merit: 250

Buzz App - Spin wheel, farm rewards

Quote from: VDraci on September 17, 2019, 09:35:39 AM

Obviously any project that promises you any of these are either scam or dangerous investments plans managed by desperate developers

1. Huge ROI in short period of term
2. Risk free investments
3. Assurance of what to come
4. Big exchanges listing like binance

I have promoted projects that pretends to have listing plan on big exchanges just to make people promote the project and make investors invest too

sometimes using a large exchange site like binance is a good step for scammers. because investors will immediately enter without thinking about the long term. but for this we still need to be able to further examine whether a project will be in binance or just a hoax

Coin-1

legendary

Activity: 2618

Merit: 2304

Quote from: serjent05 on September 18, 2019, 09:06:19 AM

Almost all news are cosmetics that make the project looks legit and interesting but there is no actual development being made that is according to the roadmap. There is no physical office and no other means of contacting them except social media and telegram.

It's true. Silly scammers often use fake teams and publish photos of other people found on social networks on their official site. Many fraudsters also do not bother about creating high quality content, and they plagiarize whitepapers. In most cases, obvious scam projects are exposed by investigators during an ICO, IEO or other crowdfunding phase, so these fraudsters are usually got busted before they reach the soft cap.

It should be noted that fraudulent teams typically create self-moderated threads on popular forums and channels in messengers in order to be able to delete the posts with criticism. Of course, they will try to deceive investors by talking about a high ROI and promising huge profits.

Some of the projects have interesting ideas, but if such products or services are backed by fraudulent developers, most likely, a new coin or token will be dumped immediately as soon as the ICO is successfully finished and the cryptocurrency is listed on the exchange.

Wintersoldier

sr. member

Activity: 966

Merit: 274

Quote from: sorrros on September 17, 2019, 09:58:50 AM

Quote from: VDraci on September 17, 2019, 09:35:39 AM

Obviously any project that promises you any of these are either scam or dangerous investments plans managed by desperate developers

1. Huge ROI in short period of term
2. Risk free investments
3. Assurance of what to come
4. Big exchanges listing like binance

I have promoted projects that pretends to have listing plan on big exchanges just to make people promote the project and make investors invest too

In most cases you will not recognize which project is legit and which is not.
Most of them are now very smart and and they look too good. Like new working blockchain mobile operator with passive income - Miracle Tele.

Even scam projects needs investment too. They are always have a good website and organized systems. Sometime they have much promising content compared to real ones, and most of the time, people trust these projects despite of knowing the pattern that they are routinely doing over and over again committing fraudulent acts.

Doranile432

member

Activity: 476

Merit: 22

Good developers will always stay active with the development of their project and they will always keep investors up to date about what they have been doing and what they are trying to gain, continues development is a good sign that the project teams have good aims

jcpone

sr. member

Activity: 685

Merit: 250

Quote

3. Assurance of what to come

Well in every project there is no assurance for us to get profit 100% to them, mostly its not been
given to the investors and Hunters too.

Quote

4. Big exchanges listing like binance

Some of the project saying this that their will be listing on kucoin, Houbi, and blah, blah, but in the end
they fulfill it, instead they list it on the small exchange in the market, this is what I saw with the other
campaign project that has been arise in crypto.

DabsPoorVersion

sr. member

Activity: 1260

Merit: 315

www.Artemis.co

Quote from: MI6 on October 08, 2019, 01:45:22 AM

Quote from: meliodas on October 08, 2019, 12:55:21 AM

Quote from: Zeke_23 on October 07, 2019, 11:39:36 PM

Quote from: gaston castano on October 07, 2019, 10:22:57 PM

I mean how you really determine it, I think the criteria you mentioned above are also part of the correct project, except that ROI depends on how fast the project is developing, and sometimes a project does not require a long time to get ROI.
of course all projects want their coins to be listed in large markets, in addition to increasing investor interest it also proves that their coins are not shitcoin.

You can determine it if they truly wanted to push their goal. Most of the time you can see the team's work if they are really working hard or not. It is indeed that all the above statement was also a criteria of a good project, but if you see that they dont pursue their goal, it's a different matter where you have to decided on your own if it is really worth it to invest.

Well, it is hard to determine when the project is just getting started. The best thing to do is to conduct research about the team behind the project. Look at the previous work or any available information of the developers and that is when you will balance things out if they are worthy to be given of your hard earned money.

Maybe that is why a lot of investor trapped in scam ICO, because at first developer look really serious and make investor believe that the project will be good and work smooth like what they tell in roadmap. But in fact, after listed developer looks like leave the project.

That is also the reason why the numbers of early investors in any ico decreased its numbers. They tend to see if the project will purse their goal than to get the early investor bonus. Investors wanted to see if after every quarter of the roadmap there will be any changes in the ico. It is also to expand the time they had to investigate more of the project.

Aabcde

sr. member

Activity: 1050

Merit: 256

For me, the easiest way is to detect whether the profile photo they are using is correct or they are using someone else's photo. And I also do not believe in bonuses above 10% because usually when entering the exchange the bonus does not provide any benefit if the price of the token is below the initial price. Developers who open a sale on twitter by sending funds directly to their wallet, are usually indicated by scammers. Of course, with the promise of a very large bonus.

desticy

sr. member

Activity: 1512

Merit: 292

www.cd3d.app

Quote from: gaston castano on October 07, 2019, 10:22:57 PM

I mean how you really determine it, I think the criteria you mentioned above are also part of the correct project, except that ROI depends on how fast the project is developing, and sometimes a project does not require a long time to get ROI.
of course all projects want their coins to be listed in large markets, in addition to increasing investor interest it also proves that their coins are not shitcoin.

I think that the easiest way to make sure the project is honest is to contact the exchange and find out if the negotiations are going to be negotiated with them by the project regarding listing.
If the exchange confirms this, then everything is in order.
Thus, you can check almost all exchange partners and find out where the project is telling the truth and where it is exaggerating in order to attract investors.
Most are too lazy to do even this job.

zabir.brutov

jr. member

Activity: 280

Merit: 2

The biggest problem is the huge ROI. I am thinking back to times when Miracle Tele was operating and offered more than 100 percent per 3 months. It was getting obvious that no company in the world can pay such big amounts.

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

Quote from: VDraci on September 17, 2019, 09:35:39 AM

-snip-
I have promoted projects that pretends to have listing plan on big exchanges just to make people promote the project and make investors invest too

That is why promises should not be parameters for investors investing in the project.

Currently many projects that have sprung up are almost have same concept with the existing, examples of real estate, gaming, token based precious metal and others. Should the failure of previous projects can be a parameters to see whter this new project will meet the same fate as a failure too, always read well both the roadmap and the whitepaper because usually project that fail just copy paste or only slightly change their whitepaper from a pre-existing project.

We cannot really detect scammers, we can only reduce the risk by continuing to be careful and always critical in every project that emerges that we plan to invest.

Genemind

sr. member

Activity: 1596

Merit: 335

Quote from: VDraci on September 17, 2019, 09:35:39 AM

Obviously any project that promises you any of these are either scam or dangerous investments plans managed by desperate developers

1. Huge ROI in short period of term
2. Risk free investments
3. Assurance of what to come
4. Big exchanges listing like binance

I have promoted projects that pretends to have listing plan on big exchanges just to make people promote the project and make investors invest too

If we'll only have these basis, we might only get confused because most projects these days do all these things to attract more investors. Honestly, it's really hard to determine if a project is legit at the beginning. Sometimes, observing the activeness of their team and their developers would also help. Just get rid of those projects who are offering too much or giving too good to be true offers without any assurance.

MI6

hero member

Activity: 1260

Merit: 504

Betking.io - Best Bitcoin Casino

Quote from: meliodas on October 08, 2019, 12:55:21 AM

Quote from: Zeke_23 on October 07, 2019, 11:39:36 PM

Quote from: gaston castano on October 07, 2019, 10:22:57 PM

I mean how you really determine it, I think the criteria you mentioned above are also part of the correct project, except that ROI depends on how fast the project is developing, and sometimes a project does not require a long time to get ROI.
of course all projects want their coins to be listed in large markets, in addition to increasing investor interest it also proves that their coins are not shitcoin.

You can determine it if they truly wanted to push their goal. Most of the time you can see the team's work if they are really working hard or not. It is indeed that all the above statement was also a criteria of a good project, but if you see that they dont pursue their goal, it's a different matter where you have to decided on your own if it is really worth it to invest.

Well, it is hard to determine when the project is just getting started. The best thing to do is to conduct research about the team behind the project. Look at the previous work or any available information of the developers and that is when you will balance things out if they are worthy to be given of your hard earned money.

Maybe that is why a lot of investor trapped in scam ICO, because at first developer look really serious and make investor believe that the project will be good and work smooth like what they tell in roadmap. But in fact, after listed developer looks like leave the project.

Topic: how to detect desperate Developers and scammers (Read 584 times)