How to know if the project is fake? - page 3.

int03h

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Quote from: ?? on ??

Quote from: int03h on September 05, 2020, 12:48:58 AM

The first is with the source code, it is necessary to carefully check the source code.
If the project does not have source code, we can check other information.
Information of team moderators, checking each member, accessing their profiles Twitter, Linkedin, and what topics they update about the project they are working on, need to ask them.
Check the whitepaper and see if it overlaps with any other projects?
Check out social media channels like twitter, telegram ...

that is indeed the basic thing we can do to minimize the risk of a project scam. but they are not enough to convince us. at this time what I believe is a project that has collaborated with the exchange. it proves the seriousness of the developers and does not just make promises for their big exchange planning.

A big swap also couldn't solve the problem, look sushiswap. Big exchange and future transaction.
Look at YBDAO, they have notice listing Bithumb but then Bithumb has blocked the deposit and withdrawal channel. The YBDAO team has put all raised funds into Tornado Cash. Exchanges work only for money and cannot be sure there is no scam.

proscratcher

newbie

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If the project does not have a roadmap, white paper, team members are anonymous. So beware of that, always do your due diligence before investing in any asset.

DarkTrix

sr. member

Activity: 532

Merit: 250

Keep - The privacy layer for Ethereum

Quote from: lepbagong on September 06, 2020, 03:14:50 AM

Quote from: proscratcher on September 05, 2020, 11:26:28 PM

Dozens of new cryptocurrencies launch each month, and alongside these new tokens and coins comes a series of initial coin offerings (ICOs). The appetite among a broad pool of investors for these opportunities has grown, even in spite of the fact that cryptocurrencies were battered in 2018. All of these factors combine to entice scammers. After all, if investors have proven that they are willing to throw money toward a highly speculative cryptocurrency, they seem to be equally likely to invest in fraudulent tokens or ICOs.

For the cryptocurrency investor looking to make the most of the host of new investment opportunities while remaining safe from fraudulent ICOs and sketchy coins and tokens, the prospect can be daunting. Blockchain and cryptocurrency technology is developing at a rapid pace, and even experienced investors may find it hard to keep up with the terminology. While there's no guarantee that any cryptocurrency or blockchain-related startup will be legitimate or successful, the steps outlined below can help you to be as sure as possible that you're not falling for a scam.

It can be ascertained and very convincing that fraud will be difficult to eradicate what can be done is to reduce it so that it is not excessive because it will clearly affect investors who do not believe in crypto which of course this can be a problem in itself.
It takes cooperation from all components that clearly want that crypto can work well and fraud starts to decrease so that investment increases.
many ways can be done as long as there is cooperation of all who are concerned with crypto will allow fraud to decrease because they are not supported to grow because of the information that is carried out simultaneously.

Today it became known that the creator of "Sushi" has sold his tokens for 10 million Grin

lepbagong

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#SWGT PRE-SALE IS LIVE

Quote from: proscratcher on September 05, 2020, 11:26:28 PM

Dozens of new cryptocurrencies launch each month, and alongside these new tokens and coins comes a series of initial coin offerings (ICOs). The appetite among a broad pool of investors for these opportunities has grown, even in spite of the fact that cryptocurrencies were battered in 2018. All of these factors combine to entice scammers. After all, if investors have proven that they are willing to throw money toward a highly speculative cryptocurrency, they seem to be equally likely to invest in fraudulent tokens or ICOs.

For the cryptocurrency investor looking to make the most of the host of new investment opportunities while remaining safe from fraudulent ICOs and sketchy coins and tokens, the prospect can be daunting. Blockchain and cryptocurrency technology is developing at a rapid pace, and even experienced investors may find it hard to keep up with the terminology. While there's no guarantee that any cryptocurrency or blockchain-related startup will be legitimate or successful, the steps outlined below can help you to be as sure as possible that you're not falling for a scam.

It can be ascertained and very convincing that fraud will be difficult to eradicate what can be done is to reduce it so that it is not excessive because it will clearly affect investors who do not believe in crypto which of course this can be a problem in itself.
It takes cooperation from all components that clearly want that crypto can work well and fraud starts to decrease so that investment increases.
many ways can be done as long as there is cooperation of all who are concerned with crypto will allow fraud to decrease because they are not supported to grow because of the information that is carried out simultaneously.

proscratcher

newbie

Activity: 14

Merit: 0

Dozens of new cryptocurrencies launch each month, and alongside these new tokens and coins comes a series of initial coin offerings (ICOs). The appetite among a broad pool of investors for these opportunities has grown, even in spite of the fact that cryptocurrencies were battered in 2018. All of these factors combine to entice scammers. After all, if investors have proven that they are willing to throw money toward a highly speculative cryptocurrency, they seem to be equally likely to invest in fraudulent tokens or ICOs.

For the cryptocurrency investor looking to make the most of the host of new investment opportunities while remaining safe from fraudulent ICOs and sketchy coins and tokens, the prospect can be daunting. Blockchain and cryptocurrency technology is developing at a rapid pace, and even experienced investors may find it hard to keep up with the terminology. While there's no guarantee that any cryptocurrency or blockchain-related startup will be legitimate or successful, the steps outlined below can help you to be as sure as possible that you're not falling for a scam.

Diamond_Darrell

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♦♣♥♠

Quote from: BestEarningTips on July 18, 2020, 02:37:03 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?

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

bussybuddy

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Chainjoes.com

Quote from: husencoe on September 05, 2020, 11:54:52 AM

for now I am more interested in participating in IEO project than in ICO, because IEO project performance is clearly visible by listing their coins in several markets, whereas ICO project risks scam or coin price is too low.

Exactly, there aren't any ICOs that can succeed in this market. Almost all ICOs are scams so investors won't waste time with it, they are only interested in the IEO of large exchanges because it's more secure and more profitable.

Jeger.Kiting

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Maybe you can also check all of their team or social media on the website, if there is something odd it is possible that it is a fraudulent project, if you have checked all the social media / teams and there are no irregularities then, chances are it is a good project, and good for you participate with the project, but it's not all 100% good. There are those who do not meet the target which makes the project fail, and in the end there is no reward for payment, surely everyone has experienced something like that and found a project like that, so the point is researching before joining a project, then you will not waste your time on participate with a project ...

husencoe

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Eloncoin.org - Mars, here we come!

for now I am more interested in participating in IEO project than in ICO, because IEO project performance is clearly visible by listing their coins in several markets, whereas ICO project risks scam or coin price is too low.

Desscount

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ComboLabs

Quote from: [email protected] on September 05, 2020, 09:58:46 AM

Quote from: rahmatullah9305 on September 05, 2020, 09:52:16 AM

Yes, everything you say is as initial evidence that the project is going to experience a scam, even though everyone won't know the basics at first, but by checking the team and the WP project composition, at least we can have time to avoid it if the project is suspicious.

when you have seen something suspicious from a project it is better not to visit it again. it will waste your time. better looking for a better project that feels right with your research. Basic analysis has been previously mentioned, it is the main provision in researching the project.

researching a new project is very difficult if there are no big exchanges beside them,
so we should really read and research it so we don't get a scam, maybe rating can help a little

[email protected]

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Quote from: rahmatullah9305 on September 05, 2020, 09:52:16 AM

Yes, everything you say is as initial evidence that the project is going to experience a scam, even though everyone won't know the basics at first, but by checking the team and the WP project composition, at least we can have time to avoid it if the project is suspicious.

when you have seen something suspicious from a project it is better not to visit it again. it will waste your time. better looking for a better project that feels right with your research. Basic analysis has been previously mentioned, it is the main provision in researching the project.

rahmatullah9305

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Activity: 983

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Quote from: ?? on ??

I think it's quite difficult to find scam projects or not, because most of the current bounty projects look like real but end up with Scams. But at least we can still avoid it if you come across suspicious projects, especially about bad team reputation, no response to the community and tokens listed on shady exchanges.

Yes, everything you say is as initial evidence that the project is going to experience a scam, even though everyone won't know the basics at first, but by checking the team and the WP project composition, at least we can have time to avoid it if the project is suspicious.

Justin999

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#SWGT PRE-SALE IS LIVE

Not possible at all. But some step may helpful for find them out. Should read their whitepaper briefly. whitepaper is the main document that explains the rationale overview and future goals behind any project. Besides check team members properly. In the case of more insidious project, the company & team members looks extremely professional but they aren't. Looking up their wrbsite properly, can also provide you real or fake certificate about any project

Alohadanc3

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Martian Swap - Anti Whale Measures New Yield Farmi

In this market there are lots of projects available which are fake. So you have to be careful from this projects to not get into it. So when you want to invest in project you do some research before any kind of investment. You can check a projects in many way. First check the people who made this and there existance. In most fake cases they use fake people ids. So check that after that check their business address check it's true or not. Go for partners and exchange partnership crosscheck them. And if you have some time you should go for their white paper though it's a bit boring.

int03h

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Activity: 532

Merit: 104

The first is with the source code, it is necessary to carefully check the source code.
If the project does not have source code, we can check other information.
Information of team moderators, checking each member, accessing their profiles Twitter, Linkedin, and what topics they update about the project they are working on, need to ask them.
Check the whitepaper and see if it overlaps with any other projects?
Check out social media channels like twitter, telegram ...

mandor

sr. member

Activity: 1638

Merit: 260

Trphy.io

Quote from: denasha92 on September 04, 2020, 07:22:45 PM

Quote from: ?? on ??

1. Analyze the roadmap: check personally what the team has actually already done, and how realistic the plans are for the future,
2. Check team members for the reality of their personalities, find their past work and achievements,
3. Analyze how viable and relevant the project idea is,
4. Read the technical documentation carefully.

To learn how to analyze projects well, you need to become a detective)

some projects always change their roadmap in the middle of their project development these days. using so many excuses to delay the project. so i think checking the roadmap isn't very effective to evading some scam project.

yes, anything can happen while the project is running and they can change the roadmap or other rules whenever they want. sometimes a project that looks promising can end up being a scam for no reason certain.

denasha92

member

Activity: 616

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Quote from: ?? on ??

1. Analyze the roadmap: check personally what the team has actually already done, and how realistic the plans are for the future,
2. Check team members for the reality of their personalities, find their past work and achievements,
3. Analyze how viable and relevant the project idea is,
4. Read the technical documentation carefully.

To learn how to analyze projects well, you need to become a detective)

some projects always change their roadmap in the middle of their project development these days. using so many excuses to delay the project. so i think checking the roadmap isn't very effective to evading some scam project.

hassancisse

member

Activity: 273

Merit: 13

It is difficult to know a fake project. the one i saw recently which is KingCasino have been following them since they started the project i just found out on their telegram group that they have successfully scammed everyone. it was so funny to me. Like everything was going so fine they just turned it

Mehedi72

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#SWGT PRE-SALE IS LIVE

Sometimes It's hard to revail fake projects cause they make their project so perfectly like whitepaper,roadmap, ideas, that looks alike a real project for investors but after fundraise, they flee away. Even i saw many project who just get disappeared when their project are in trending. So it's not possible to cath them but better analysis safe you from those

Xanxus024

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Quote from: BestEarningTips on July 18, 2020, 02:37:03 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?

Every time I joined in a project I always check the background of the bounty manager, I always search the project if its listed in ICO bench, I always check the community mostly it will find it in telegram group. I check the background of the team if one of them is involve in a scam project before there's a chance that the project is scam lastly if there's no White paper it means the project is scam. Well that's my opinion because I got scammed 3 times way back 2017 but lesson learned.

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