How to detect scam ICOs ? | Bitcointalksearch.org

Barrueco

jr. member

Activity: 154

Merit: 1

Quote from: hiburak on June 22, 2018, 05:20:05 AM

You need to make sure if they have a working prototype and well-written codes in their github.

A working prototype is one of the most important things for understanding that the ICO is a scam or not. Even a scam ICO can have a prototype but the probability is very low.

0Shendy0

newbie

Activity: 28

Merit: 0

I would recommend to pay attention to these factors: they should have a good Whitepaper, read it scrupulously, cause some ICO just steal somebody's else Whitepaper and just change the name of the project. They have to have MVP on their website, cause lots of projects like to write how cool they are, but don't have anything except these pompous words. Their employees should have profiles on Linkedin, for example, cause scammers are afraid of revealing their personality and often they whether don't have any profiles of steal somebody's photos. I was written by one scammer who had a woman's photo and man's name. Check their groups on the different social networks, they should be active and not filled with bots and fakes. Check their profile on GitHub. Take a lool at Cryptics - forecasting platform which does use 100% AI. Their project does satisfy with all these requirements.

hiburak

hero member

Activity: 1655

Merit: 600

You need to make sure if they have a working prototype and well-written codes in their github.

$Darkloard$

sr. member

Activity: 392

Merit: 250

Transparency of the token allows investors to decide whether to invest their funds or not. If the ICO refuses to provide data on the sale of tokens, this is a sign that its team is hiding something and possibly pursuing fraudulent goals.

MISS_nSTASSY

full member

Activity: 392

Merit: 105

Vena.Network

Quote from: PrivateEnemy on June 18, 2018, 02:40:43 AM

There is no universal way to find out scams. If the scam is done well, it will look like the best project. There are obvious signs, for example, using someone else's photos in the team section. But this happens very rarely.

May disagree, because there are some universal methods exactly. As you said that photos can be stolen - it is really easy checkable information, also team members provide their personal information like LinkedIn account, FaceBook, Twitter and others, and if they are real, there is less chance to be scammed. Also check information about the website, recheck if team had mentioned participation in previous projects, see github, and so on.
I prefer to go another way - I don't need to prove that ICO is scam because they all are scam for me Cheesy

I prove that ICO is NOT a scam, spot good ICO that use escrow for example. If I found good(not "not bad") I can invest

1BTC EQUALS 1CAR

full member

Activity: 602

Merit: 100

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

Did you say recently? Were you just born last year? I don't mean to be rude but there are many reports in the past years on how much money have been scammed in ICOs in either a slow or quick way so please research them.

3kpk3

full member

Activity: 924

Merit: 148

Research and luck are the key factors in determining whether a particular ICO is legit or scam. You need to research the ICO that you are interested in based on various factors like development team experience, social media interactions by the development team, whitepaper analysis, regular github updates etc which will help in differentiating between a legit and scam ICO. Luck is also essential here since research does help, but does not always guarantee success.

captin crunch

sr. member

Activity: 630

Merit: 253

Here are some advises: https://icoguide.com/en/blog/choosing-an-ico-common-pitfalls-of-scam-icos it should be useful!

PrivateEnemy

member

Activity: 315

Merit: 13

Lead generation one-stop shop platform powered AI

There is no universal way to find out scams. If the scam is done well, it will look like the best project. There are obvious signs, for example, using someone else's photos in the team section. But this happens very rarely.

udayantha11

member

Activity: 756

Merit: 17

2023 would most likely be as bearish as 2022

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

First you refer the ico’s ratings. I highly recommended the icodrops website. There team is very impressive and smart.
If there ratings satisfied do your ratings

Log to telegram app and shoot questions about vision and etc.
See the road map
When they going to lauch the main net and test net.

Please refer those

xet3cualong

newbie

Activity: 125

Merit: 0

I think that any ico can cheat even though it has good information. So luck is always the first factor when investing in a certain ico.
You should carefully study the information on the project and a white sheet. You need to read the reviews.

tutorroma

member

Activity: 255

Merit: 10

It takes a lot of experience to identify a fraud, and it's hard to judge whether this project is a fraud. I think the social media dynamics of this project are as much as possible to judge the project.

Illia_Avdeichik

newbie

Activity: 28

Merit: 0

It's easy. If the Project just talking and doing nothing taht is definetly scam. Check the Cryptics- relly nice project. I have been posted the info in the same Topic

xAnima

newbie

Activity: 69

Merit: 0

It is hard to detect or determine fraud ICO's or ICO's that were set to scam people. You wont know it until the last minute because to earn money, they need to at least invest their talents to make people believe that what they are launching or campaigning for is real and legit. I guess the gut feeling of the person joining that ICO will decide what is good for himself.

iamreal

newbie

Activity: 168

Merit: 0

There is not particular way to actually detects if an ico is a scam but their are some red flags you could see and you will suspect, for me I normally check the ico team, if they are hiding their team members, then it is a red flag for me, If i search the google and find no video or interview of any of the team members speaking about the project then it is also another red flag for me, i will avoid it.

xaker74

hero member

Activity: 1016

Merit: 502

Quote from: cryptomonotize on May 19, 2018, 06:08:06 AM

Hello everyone,
Recently scam ICOs are growing rapidly and it has become a severe problem among the investors and bounty participators. Can you guys please tell me how to detect them ?

To avoid fraudulent ICO, you need to first check the organizers of the project and links to their official accounts in social networks, so that there are confirmations about participation in the project.

RAMZA

member

Activity: 205

Merit: 10

In the first stages, it is very difficult to determine scam projects. Therefore, you have to accept that you can not get anything for your work.

Dexit

member

Activity: 336

Merit: 10

Well, if you have even a one percent of uncertainty about joining an ICO, or anything such related- then do not get in there. Professionals are underlining some points, as: ratings, market gap, team behind, concept, whitepaper. Good luck, fighting, hehe.

barlo357

full member

Activity: 574

Merit: 100

For me its hard to detect the scammer because they act also as a real one, this is only my advice don't trust anybody here and always be an observer anytime, if you have doubt in one member here you can check his profile and check where he always put his posting this will help you to know the information about this guy but not exactly to find a scammer.

$Darkloard$

sr. member

Activity: 392

Merit: 250

The criteria for fraudulent projects are considered to be the lack of certain information, as well as the impossibility of its confirmation or direct refutation of the data submitted by the authors. Providing false data to users for the purpose of collecting funds without subsequent fulfillment of obligations determines scam as the main risk of investing in ICO.

Topic: How to detect scam ICOs ? (Read 520 times)