of course, the thing that can be seen most clearly is the team on display in the project. the majority of fake projects always steal other people's profile photos from social media to be used as a display on the initial appearance of their site.
Fortunately, now we have Google which can immediately find out the origin of the photos displayed. then what I see most often offered by fake projects is a big bonus when buying, don't let you fall into the sweet promise of big ROI.
Topic: How to know if the project is fake? - page 2. (Read 6550 times)
How I identify if the project is fake or not by looking at the potential red flag:
- The people behind this project are anonymous, use fake identities, or have fake accounts on social networks.
- The team does not have professionals with relevant experience.
- Whitepapers and business plans sound unrealistic or lack a detailed analysis of the market and competitors.
- The project author did not provide an example of their blockchain code.
- No working prototype.
- There is no escrow wallet for sending investor money to the developer.
- The project doesn't do any code to Github.
- The project does not have a clear road map.
- Tokens or blockchain do not appear necessary to achieve project goals.
- The people behind this project are anonymous, use fake identities, or have fake accounts on social networks.
- The team does not have professionals with relevant experience.
- Whitepapers and business plans sound unrealistic or lack a detailed analysis of the market and competitors.
- The project author did not provide an example of their blockchain code.
- No working prototype.
- There is no escrow wallet for sending investor money to the developer.
- The project doesn't do any code to Github.
- The project does not have a clear road map.
- Tokens or blockchain do not appear necessary to achieve project goals.
Based on Scam Accusations here https://bitcointalk.org/index.php?board=83.0 and most of the fake projects have these patterns:
1. No whitepaper or even plagiarized whitepaper, this one is easy to track.
2. Fake teams, they use the image from google image to make it look legit. But if you do a proper research, it's so easy to spot these stupid people.
3. Telegram members, you will see once you enter their group. It's full of bots/people that get paid for joining their channels to make it legit and attract the poor investors.
etc etc
1. No whitepaper or even plagiarized whitepaper, this one is easy to track.
2. Fake teams, they use the image from google image to make it look legit. But if you do a proper research, it's so easy to spot these stupid people.
3. Telegram members, you will see once you enter their group. It's full of bots/people that get paid for joining their channels to make it legit and attract the poor investors.
etc etc
I mostly find the authenticity of the people behind the project. Most of the time, the fake project put the picture of people that look trustworthy on their website with fake identity.
It's also one way to identify the project as fake but you also have to see the team working on the project if they have a team that we can rely on, because the success of a project is very influential on the team that manages the project because they not only give false hope to followers but can prove when the project is finished.
how can we see or judge that the team composition of the project is reliable? even a project that gets support from a bounty manager or a promotion from a famous person can be a scam. or fail in their development.we can only work with what we know. do your best, if you are still trapped in a scam project, then let's just say that it is not our sustenance.
It's also one way to identify the project as fake but you also have to see the team working on the project if they have a team that we can rely on, because the success of a project is very influential on the team that manages the project because they not only give false hope to followers but can prove when the project is finished.
There are lots of projects who usually deceived investors by promising good and easy gains. So before putting an investment into a project make sure to do your own research. Search for the team members, that's very important. Check their products and usage of their tokens too. Consider also their roadmap. read and understand carefully also their Whitepaper.
1. usually unknown team .
2. lack of a good white paper and usually they do a copycat.
3.lack of git hub.
4.lack of product .
5.a shitty website usually designed by a teenager .
6.they wanna go to uniswap first because they think they are too good for CEX!
2. lack of a good white paper and usually they do a copycat.
3.lack of git hub.
4.lack of product .
5.a shitty website usually designed by a teenager .
6.they wanna go to uniswap first because they think they are too good for CEX!
While there are projects and ways to test them, we have to wait until they exhibit our deceitful nature to realize.
This morning I just read an old topic that BCnex was cheating users after 8 months of operation. Everything was smooth until they found the user could not withdraw money from the exchange.
Or maybe they cheated by slowing down the project's progress after raising an ICO, even though their team looked great and reputable.
The most important thing that I believe to avoid scams is to know the team that leads the project and if profitable, get out of the project if you don't see the potential. Though it may seem emotional, I've been right a few times.
I think the news is quite long. but sometimes we can't analyze it well, like the case in the BCNEX project. they seem convincing by paying their participants in their campaign and operating for a long time. but by claiming the campaign reward you have to put a deposit first should let some people know if something is not right with this project. This morning I just read an old topic that BCnex was cheating users after 8 months of operation. Everything was smooth until they found the user could not withdraw money from the exchange.
Or maybe they cheated by slowing down the project's progress after raising an ICO, even though their team looked great and reputable.
The most important thing that I believe to avoid scams is to know the team that leads the project and if profitable, get out of the project if you don't see the potential. Though it may seem emotional, I've been right a few times.
While there are projects and ways to test them, we have to wait until they exhibit our deceitful nature to realize.
This morning I just read an old topic that BCnex was cheating users after 8 months of operation. Everything was smooth until they found the user could not withdraw money from the exchange.
Or maybe they cheated by slowing down the project's progress after raising an ICO, even though their team looked great and reputable.
The most important thing that I believe to avoid scams is to know the team that leads the project and if profitable, get out of the project if you don't see the potential. Though it may seem emotional, I've been right a few times.
This morning I just read an old topic that BCnex was cheating users after 8 months of operation. Everything was smooth until they found the user could not withdraw money from the exchange.
Or maybe they cheated by slowing down the project's progress after raising an ICO, even though their team looked great and reputable.
The most important thing that I believe to avoid scams is to know the team that leads the project and if profitable, get out of the project if you don't see the potential. Though it may seem emotional, I've been right a few times.
work on initiation as appealing with different expends on uses of resource helps as parties with the business on crypto to manage with least of risks and collects on excess as compounding of returns and stands with the terms of business of crypto with supports of proper limit with capitals.
Basically, fake projects have no real headquarters and often they won't provide updates about CEOs, managers, developers, etc., So to identify fake projects we need to have an Idea of what a fake project is through the signs we think. if suspicious then leave immediately, on the other hand, don't forget to thoroughly research, especially the Dev team and background in managing previous projects.
Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.
So how do you indentify if the project is fake?
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.
So how do you indentify if the project is fake?
Look, you can't know for sure, even after successful gatherings and following the roadmap, that the project is not fraudulent. In my memory, there were two projects that launched a stormy activity and then became a scam. Moreover, both tokens are still trading on exchanges
Yeah!Sometimes there are project which is really good and promising at the start but later on it turn to scam and suddenly leave their project. Sometimes it's difficult to identify the project even you study it very well and do research because they also shows a lot that can proves they are legit and not scam. So, I just have to say, we should be careful always to join and invest to a different projects.
currently, the fake project is known from 3 things IMO...
the first is the team behind the product then the second is the concept being announced and the third is the distribution reward amount for the campaign. if all three don't make sense then it's most likely the project is fake.
the first is the team behind the product then the second is the concept being announced and the third is the distribution reward amount for the campaign. if all three don't make sense then it's most likely the project is fake.
There are lots of techniques how you can check a product is fake or not. But you have to gain some knowledge to verify that kind of projects. If you are new to this market first try to learn and understand the market you will gain this kind of skills automatically. Firstly check their website and product. If you think it's fine then go for the team. Crosscheck theri social media profiles. After that go for investors and advisors and partnered exchanges (if there any). Check their partnership from both site. After that you can check their white paper which needs some knowledge. And after that if you think everything is okay you can go for those projects.
sometimes you can see it from inaccurate team information, and it's quite new to social media. besides, their concept and website look unprofessional.
Same can also be applied to a new, inexperienced team with low budget. The team and project might not have much experience in SMM, but have a great project idea behind? For example, my parents and people of their are dont even have social media accounts, but they are great at managing work, working as CEO or as a financial sector workers. If they create a social media accounts just to have them for project webpage "team" section, would you automatically tag this project as fake, because their facebook or linkedin pages are fresh and empty?
a pretty good way to identify his team. Another way to identify a fake project is, sometimes you can see it from inaccurate team information, and it's quite new to social media. besides, their concept and website look unprofessional. some projects sometimes provide a sizeable bonus, at a fantastic discount. to be honest there are many ways to identify a project that is a scam or has the potential to be a scam or not. however, some of them are clever enough to cover it all, so sometimes people need escrow and a trusted third party for payment issues.
There are different signals to look out for while trying to decide the credibility of a project, one has to see if the project is actually telling the truth in terms of the information they make available to the public. Most scam projects peddle lies to the public and when we detect these lies they find a way to cover it up or ignore. Another checklist to consider is the whitepaper, when the whitepaper is plagiarised, it's a red flag.
There are various ways to find the same,
1. Check their team and its previous history,
2. Check their profiles on Linkedin as well.
3. Check their all social connects channels and handles
4. Read the White Paper thoroughly.
1. Check their team and its previous history,
2. Check their profiles on Linkedin as well.
3. Check their all social connects channels and handles
4. Read the White Paper thoroughly.
So how do you indentify if the project is fake?
To be honest, my best way to identify a fake project is through reviews! I will write a post about that exchange in three different forums and I will compare all the reviews.There are some projects that I will review them on youtube as well, but not all because some of them are paying for fake reviews.
If it's an exchange you can use those which have been listed in CMC, Coingecko and etc from 1 - 30 maybe.
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