How to know if the project is fake? - page 22.

shollyen

jr. member

Activity: 344

Merit: 1

Quote from: Sebas.tian on July 18, 2020, 03:16:00 PM

There are several tools involve in checking dubious cryptocurrency projects, though, many of these tools are paid tools to expose the projects as scam. For me, I do more research into the projects to find some good profile team members photos and their social medias handles across board. Sometimes their websites creation through the help of WHO'S web analysis. There are good individuals who are good investigators, I so much respect them for that job.

Yes, you are right. Some of the investigators exist here on the forum. Although, there are some we do not know their thereabout again. However, I know that many of them are doing a great job indeed because it is not always an easy thing. Before you do the finding from pillar to post, you would have to spend a great deal of time and some efforts would have also be inputted.

republicrypto

sr. member

Activity: 1414

Merit: 252

Keep it Simple guys :)

Quote from: BestEarningTips on July 18, 2020, 01:37:03 AM

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?

first you must learn about the team member from the project, check their social media link, sometimes they use fake account and fake pict my friend
then check the whitepaper carefully, because a lot of fake project copying a whitepaper from the other project
regards

0verseer

full member

Activity: 480

Merit: 106

Quote from: Erumo on July 18, 2020, 01:40:54 PM

Quote from: Shohag123 on July 18, 2020, 12:34:00 PM

Then I check their team.If there is no team in their website ,then I stau away from this project.And if they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

But what if the project is a dex or simply an exchange? Usually they do not show the team, or simply show who is CEO. What will you do in that case? Skip this project/bounty ? And social media, what if they dont have any or do not fill a lot of information in it? For example my grandpa or grandma dont have social accounts

Depend on how good a project actually is to make people overlook that detail about the anonymous dev team. I saw a few good projects that the dev team has enough confidence to keep their identity private, Of course, they could try to pull a random profile if they want but I think it will hurt them more in the end. So yeah, all the steps to check if a project fake or not can sometimes be overlooked too when that project is a good one.

Helpme_please

member

Activity: 633

Merit: 10

Quote from: Anish02 on July 18, 2020, 01:30:11 PM

That's a very effective way to identifies the project is real or fake. Because the project's address is a very important factor and due to that you can check it on Google about the location's actual placement. So it would be a really good solution to identify the project's reality without putting extra effort. Now I should definitely gonna use this method before joining the bounty campaign.

so we need to check this phisyc address ,,how about if our location far away from address that mentioned in their site. i think its effective but will need more money, except investors from same location glad to do this. checking in google was not valid way, maybe dev team could pretend and also we could not communicate with them directly.

Sebas.tian

full member

Activity: 2184

Merit: 184

Hire Bitcointalk Camp. Manager @ r7promotions.com

There are several tools involve in checking dubious cryptocurrency projects, though, many of these tools are paid tools to expose the projects as scam. For me, I do more research into the projects to find some good profile team members photos and their social medias handles across board. Sometimes their websites creation through the help of WHO'S web analysis. There are good individuals who are good investigators, I so much respect them for that job.

ZincUnrated

jr. member

Activity: 165

Merit: 1

There are a lot of ways to confirm the authenticity of a project and with a little digging, you should be able to identify a fake project from a real and genuine one. Firstly, if they claim to have a physical presence, then you can always find that out by making some research. Also, if they claim to be registered, you can find out all the information about their registration from the body they are registered to. Thirdly, if they claim to have partnerships which is often the case, reach out to these partners and have them confirm such partnerships. If there are discrepancies in their claims, then it certainly is fake.

Sanugarid

full member

Activity: 1442

Merit: 153

★Bitvest.io★ Play Plinko or Invest!

Quote from: BuNga_cute on July 18, 2020, 08:38:47 AM

It is not too difficult in my opinion to find out whether the projects are real or fake, the first to follow all the social media they have.

how do you judge them by their social media accounts? the number of followers? number of likes? number of activities? you can't really tell if the project is legit or not by their social medias. What only those can give you is a glimpse of the truth whether they are fake or not, that probably gives you just a 5% hint.

Quote from: BuNga_cute on July 18, 2020, 08:38:47 AM

If they diligently explain their projects and actively answer questions, it is almost certain that the project is real.

Nope, scammer could also do this too, they can actively engage with their investor on every channel they have and still scam them for the very reason, money.

Quote from: BuNga_cute on July 18, 2020, 08:38:47 AM

to make sure that the project is real, by examining the team members of the project in detail.

This may do for clearing the project since the legitimacy of the project members should be in tact for the position they have in the project. You would not want to invest on a project handled by a guy just smiling on his profile without any academic background.

lumeire

legendary

Activity: 1848

Merit: 1009

Next-Gen Trade Racing Metaverse

Quote from: Erumo on July 18, 2020, 01:40:54 PM

Quote from: Shohag123 on July 18, 2020, 12:34:00 PM

Then I check their team.If there is no team in their website ,then I stau away from this project.And if they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

But what if the project is a dex or simply an exchange? Usually they do not show the team, or simply show who is CEO. What will you do in that case? Skip this project/bounty ? And social media, what if they dont have any or do not fill a lot of information in it? For example my grandpa or grandma dont have social accounts

But your grandpa and grandma aren't CEO of any exchange or a project, are they?? Wink

These days having a social media presence for the CEO and even developers is must if they want the investers to believe in the team and also the supporters use the social media links to check the legitimacy of the project.
I personally check the LinkedIn profiles of the people involved in the project, if there is any red flag in the profile then I don't invest in the project or take part in their bounty.

Erumo

member

Activity: 564

Merit: 50

Quote from: Shohag123 on July 18, 2020, 12:34:00 PM

Then I check their team.If there is no team in their website ,then I stau away from this project.And if they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

But what if the project is a dex or simply an exchange? Usually they do not show the team, or simply show who is CEO. What will you do in that case? Skip this project/bounty ? And social media, what if they dont have any or do not fill a lot of information in it? For example my grandpa or grandma dont have social accounts

Anish02

member

Activity: 588

Merit: 10

That's a very effective way to identifies the project is real or fake. Because the project's address is a very important factor and due to that you can check it on Google about the location's actual placement. So it would be a really good solution to identify the project's reality without putting extra effort. Now I should definitely gonna use this method before joining the bounty campaign.

Shohag123

member

Activity: 385

Merit: 12

Normally I check the project is scam or not based on some things.There are countless of project and they are scamming us left and right.So if you are aware about some matter you can stay away from fake or scam IEO/ICO project.

At first I check their website and if the website is good it gives me a good impression.Then I check their team.If there is no team in their website ,then I stay away from this project.And if they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

And at last I go to bitcointalk and look for their Bitcointalk ANN and search for any plagiarism is involved or not.And for the IEO ,I always stay away from LAToken IEO and coinsbit IEO.Always choose reputated exchange IEO such as Binance,Huobi etc.

judaspriest

full member

Activity: 1330

Merit: 100

C O M B O

fake project seems to be a new topic, because many ICO and IEO scams are already here, Miracle Tele, KingCasino and Envion, all three of these projects when viewed from the background, all look clear, but they become scammers, hard to distinguish

el kaka22

legendary

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www.Crypto.Games: Multiple coins, multiple games

The best way to understand is to read the whitepaper. Not saying that a scam or a fake project can't write a proper white paper because if you pay someone 500 dollars they will write the greatest white paper you can see, which means it is quite easy to write a whitepaper that wouldn't look fake.

However the obvious fake ones always leave some mistakes in there, and that is why as long as you read it carefully you will find mistakes that will show how fake they are.

Secondly look at the team and what they have done previously, if they look like people who are just trying to make some money you will see it on their linkedin and in order to actually trust someone they should be people who have either done something like this before or they should just be successful people in general who didn't need this to begin with.

Dariusburst

member

Activity: 182

Merit: 10

Apart from learning about scam projects and their weak points you have to pray for luck, some scam projects are well hidious and almost near impossible to detect, no one knew that one coin was scam, all I can say is when something is just too good to be true please avoid at all cost

Harriti

sr. member

Activity: 756

Merit: 256

HEX: Longer pays better

Quote from: BestEarningTips on July 18, 2020, 01:37:03 AM

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 usually analyze the project team and partners before investing. Their partners are the important ones. If they cooperate with big partners, the price of coin will be very high. Besides, they will have very good ANN songs and plan to list them on big exchanges. Those are the special signs for a successful project.

best2015

newbie

Activity: 31

Merit: 0

Quote from: fuer44 on July 18, 2020, 09:45:00 AM

a lot, but it's not certain either
1. team
see the composition of the team managing the project and how their identity can be trusted
2. media
3. exchange
4. price and investment returns

I love how you accidentally (or on purpose) put them in exact right order of degree of importance.
The first thing you need to check is the team and if you can't find almost no info - chances are you should find another project at this point

jessyj48

member

Activity: 756

Merit: 14

You can't always out smart Scammers, I'm telling you this right now because I've been on here for a long time now and I have had different experience with different scamming ideas, some scammers are so clean that you won't detect anything until they exit scam

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

Quote from: BestEarningTips on July 18, 2020, 01:37:03 AM

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 often to see in scam accusation boadd which is there are a lot of cases that the project became a scam. One thing that I will see is the team behind the project, yeah that is the first thing that we should do. The team's project will give us a huge profit and make a our money gone all nothing left at all. Usually, the fake project will use a fake picture (someone else) that they didn't know who they are. And the second thing is whitepaper, you can see a lot of project who just copied-paste another project's whitepaper and you can easily find this thing with google search.

target

legendary

Activity: 2282

Merit: 1041

There are some projects that are easy to see especially if the team didn't put any effort at least provide decent graphics to their ANN and bounty campaign thread. You can already see the team is just trying to grab some coins from anyone who thinks they are safe project.

But with the help of the scambusters in the forum, you'd probably be able to avoid those teams already. We, bounty hunters, have experienced all these. Its time we learn the lesson to find out which ones are real and not.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: Stanlo on July 18, 2020, 10:40:30 AM

1. First do research on the pictures of the team, you can use google image search or other image search because some project use stolen pictures

I remember there was an ico where all team members had cartoon pictures instead their own pictures. Some people didn't bother to check the team at all, if they did they would see cartoon pictures and maybe they would realize it's a scam!
Many good suggestions here about how to prevent being scammed. Just people to not be lazy and to actually apply some of these steps to make sure they are investing their time and energy, maybe even money in project that is worthy!

Topic: How to know if the project is fake? - page 22. (Read 6550 times)