Topic: How to spot an ICO SCAM - page 3. (Read 9097 times)

Great discussion! As for me, escrow and much discussion on this forum are basic principles to be a good ICO project. Even I can't buy the tokens duiring ICO for some reason, I will buy some coins when they are on exchange platform.

Initial Coin Offering

Why do people buy a coin during Ico? Why not wait until it is listed at a decent exchange?

Can someone please tell me what does ICO mean when written out?

I=?
C=?
O=?

i googled hard but foun only crap(islamic caliphate) and "ICO scam" but no explainations

thx in advance.

Maybe your opinion is very reasonable, from here if you want to see the ICO project is a fraud, because from here it seems that he does not use escrow and manager if there is an ICO project like this that I think you already know so you do not have to participate in it. To invest in this ICO because it is clear, that this is a fraud.

As many have said, there have been many ICO's that launch with anon devs and with multi sig instead of escrow... but i get where you are trying to go though

That's really useful for me when dealing with an ICO. I think no escrow, too much tokens held by the founders and less discussion on this forum are enough for me as a reference not to give a shot to this ICO.

Yes I also wanted to expose those scam ICO and to tell you exactly how to spot them, you must see to it that there is an escrow with the project. With that certain information for reality check for the ICO, we can determine that they are not scamming people. Although it's not that easy to determine those wrong doers, well it's our obligation to know and to research the background and history of the project you are getting involved with. Scammers were really annoying and they don't deserve to be successful of their negative plans to gather victims on their ghost projects.

Judging which is a scam ICO is not that difficult. You can determine whether the ICO is a scam with these simple ways. Check their roadmap. Some scam ICO don't have any roadmap to present and that's suspicious. Some scammers use some pictures which is not them. They are just steal a picture just to present to us. It's better if you check their profile or better if you search them on google. Sometimes, they don't use escrows. Escrow is a must when creating an ICO.

This discussion is an eye opener for investors who are looking for safe investments platforms to invest their hard earned bitcoin. I hate scammers,so I want them exposed. Thanks for a great work

These are all good pointers and newbies in the world of crypto currency investing should take note of all this,
transparency really play a huge part of investing in this Ico,am surprise that many still falls for a newbie starting an ICO.

It was decreasing the chance of succeeded scam ico. But I must have believed if that's also not sufficient in my mind.
They can pay someone or group for making a drama.
When just put some word in his position, it may deceive the community.
This the central point of me.

I agree with the most of the ansers here. Also take note and monitor the ANN thread of the said coins. Also, background check the devs,his previous projects and people behind the project.Also check the roadmap. There many factors to be considered.

Nice set of points there and everyone can take that as a reference before dealing in an ICO.

Anonymous developers, self moderated threads and no escrow are enough for me as a reference not to give a shot for the upcoming ICO's. I don't get easily at the future projects and developments without any further strong foundation of it.


I get the picture but still it's better if we have some pre insights about the upcoming ICO.

PM me or post here I will review them.

What do you mean? I had some experience with scams... I know how it works and I know scammers well. I don't want people to get burned because it hurts the scene so I learn how to prevent/avoid investing in scams.

Agreed on most points. Especially about manipulations in ICOs (self-buying) and releasing funds by reaching milestones.

I think 2 broad types of ICO scams

1. the deliberate stealth ICO - usually the best to be in on. There is some tech behind them and can be made to look interesting and could have some actual value to the crypto community. The ICO will be under the radar to a degree and the devs and pals will hoard most of the coins. The promoting phase comes later whilst they suffocate supply whilst pumping/driving demand. You will see for some reason these coins sell for X sats value at ICO and then are suddenly being sold off for X x 10, 20, 100 sats even before reaching an exchange. Whether this is actually a scam is a matter of definition they are not promising anything they will not provide but they are not ensuring a fair balance level of entry to all persons.

2. the blatant scam ICO - low or no new/useful tech - promote lots and  raise as much as possible. Then dump the BTC and provide nothing of note.


All ICO's on here are open to huge manipulation since you can not see who is buying what.


POW with a fair release protocol will always be a fairer way of initially distributing the coins. With anti instamine measures in place it will always be fairer than an ICO conducted on this board as they are conducted right now.

If they need to raise funds for development upfront and widely advertised ICO . Then a POW phase of at the minimum of 50-75% for the rest of the coin distribution. The ICO funds should be held in multi sig wallets and only released to them as milestones are hit.

I understand the argument that POW will centralise eventually to those with the cheapest electricity. That to me is nothing compared to the manipulation that can happen behind the scenes with ICO's conducted here.

Simple.. it's an ICO.

They are by design scammy.. nuff said.

All your doing here OP is trying to make *some* seem better than others.
I wonder why ? 

Its true some traders love the pump and dump scheme. When ICO has
been released some traders does the pump dump scheme because
thats the way they earn huge profit. And, thanks for the information
Ive read here on how to spot an ICO Scam. Because when I see an
ICO project I always loves to invest always but since Ive know how
to spot an Ico here gives me to rethink before investing.

Good methodology, at least it's a good trial dealing with ICO scam issues and it encourages people thinking carefully before investing in any ICO.

it is simple don't be greedy and stop investing in ICO because they are all scams. and the fact that one or two of them goes higher than it is supposed to go and makes you profit doesn't make that one or two coins not-scam but it was a lucky break.

One of the reson is some traders love pump and dump,because there's money to be made here,they work like an hyip,the earlier you get in the more profit,you're going to make,so some traders hop from one ICO to another.