Topic: HOW TO SPOT SCAMMY ICOS? (Read 398 times)
Often these programs scam they have what if we notice we will realize that the content they build is very simple, the picture is fuzzy or fake, kissing again they do not understand much about the area that they cry call the investment
Thank you op for this information as it will go along way in resolving most of the ways these scammers do used to scam innocent investors of they hard earning money. I think we should not take the issues of scammers and hackers lightly as many investors has stopped investing into cryptocurrencies because of they activities.
Unfortunately though there are just people investing to ICO without the team's profile. But then some weren't scam even when there is no team's ID too.
Some projects just have fake linkedin profiles and anyone can tell whether the project can possibly be materialized. One thing that I always look for to see to it that it isn't a scam is when the team involves with known individuals and reputable companies behind it.
Read how to spot scammy ICOs!
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
2. Anonymous project.
If you want to scam people, best way to do it is by hiding your identity. Therefore you should never trust a project that does not display it’s team members, company information nor physical address. No matter how good the project seems, there is a reason why they are hiding their identity.
This isnt always the case, I have always felt suspicious of ICOs when they link to the team members linkedin profile. Well, this may be legit in many cases as they want to build a positive trust by showing off the team. But, I also have seen people buying 20-25 old linkedin accounts through this forum.
anonymous team members is the first thing everyone check for before putting any money in any ICO but it's difficult to tell unless you put some time and effort in researching, but that's what you should be doing anyway before putting your money anywhere.
Here is another good write up:
https://medium.com/@VerifiedICOs/look-out-for-these-things-before-investing-in-an-ico-b60408103425
https://medium.com/@VerifiedICOs/look-out-for-these-things-before-investing-in-an-ico-b60408103425
Basically you can easily determine if their mechanism states a very ambitious promise, I mean most of then sounds really rewarding which is you can really imagine putting a 50 to 100 usd = to lambo thing. When you technically feel this feeling upon looking it's platform. Well you can easily determine that this is a scam, no need for you to waste time to check upon websites and their group honestly speaking. But you really wanna check go do it and figure it out, it's your own risk by the way.
Read how to spot scammy ICOs!
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
This is good thread to help people not to become victim of scammer project since they are rampant this years
But what im more concern is your trust history ,its not reliable to listen from someone not trusted,but i respect this post as i have check and find out whats the concern,or maybe advertisement of that said site
Unknown/fraudulent team members/advisors
It is important to do due diligence on the team members and advisors by fact checking their credentials through third party sources and whether the team members have the capability to deliver the product as promised through their past experiences.
It is important to do due diligence on the team members and advisors by fact checking their credentials through third party sources and whether the team members have the capability to deliver the product as promised through their past experiences.
Thats right! It all starts with the team, and its the first thing to check when choosing an ICO. Most of the shady ICO's has a vague team, like made up names and unknown faces which doesnt seem to be existing. Legit ICO's has a team's resume transparent for everyone.
But investing in ICO doesnt only have the risks of being scam, but it also has the risks of failure.
Read how to spot scammy ICOs!
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
This is really helpful for every investor, specially when you are newbie and start to invest in some ICO. Most of scam ICO nowadays are very common, you can easily spot them. Specially on their team members and hard capped or soft capped. So, be careful always. https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
Red flag for me :
1. Developer never shows up on the public blockchain event.
2. Developer did not keep their words. I know start up company sometimes passed the dateline but if there is no progress we can check like at github its a redflag for me too.
3. The project looked impossible to achieve and we need to do dip research when we see very fancy website. Sometimes fancy website is the bait.
1. Developer never shows up on the public blockchain event.
2. Developer did not keep their words. I know start up company sometimes passed the dateline but if there is no progress we can check like at github its a redflag for me too.
3. The project looked impossible to achieve and we need to do dip research when we see very fancy website. Sometimes fancy website is the bait.
Very good article!
The team behind the cryptocurrency must be completely transparent about their identities and have no history of fraud or scamming.
Are they the fork of an existing coin? If yes,what is the reaction of the existing community to it and does the coin actually make any considerable improvements?
Are they the fork of an existing coin? If yes,what is the reaction of the existing community to it and does the coin actually make any considerable improvements?
Is there a way to detect scam ICOs and good ones?
There are different things who you can check. First of all is it important to know if it is listed on ico review websites. If it is you can go to the next step and check the whitepaper of the project. After that if you are still interested and they can perhaps show you a MVP, check the team and advisors. If all the parameters are ok then you can choose to invest in the ICO.
I'm a bounty hunter and I noted some ICO's that turned out to be scam. They have something in common, I can't remember seeing their team's faces on my ads for them on facebook and twitter. Not even a video that shows events of them live.
Whatever anyone will say about knowing how to spot scammy ICO, is definitely based on personal views. Sometimes the project you think is the right one with comprehensive details about the team behind it will turn out to be scam, while the reverse might be the case. So my candid advice is, if any one feels a project is worth investing on he or she should go ahead.
I don't think it's easy to find out scam ICO at the moment. Scammer is coming more and more professional day by day so it's really hard to detect scam ICO projects if you're not a professional investor 
. If you think check WP, dev team and roadmap can help you find them out, I think you're totally wrong cause all these things can be faked really easy.
. If you think check WP, dev team and roadmap can help you find them out, I think you're totally wrong cause all these things can be faked really easy. Read how to spot scammy ICOs!
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
In general, it is still difficult to distinguish good ico from scammy ico. That’s why most people trust in the coins on exchange(for example Binance or Bitfinex) more. https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
Read how to spot scammy ICOs!
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
2. Anonymous project.
If you want to scam people, best way to do it is by hiding your identity. Therefore you should never trust a project that does not display it’s team members, company information nor physical address. No matter how good the project seems, there is a reason why they are hiding their identity.
This isnt always the case, I have always felt suspicious of ICOs when they link to the team members linkedin profile. Well, this may be legit in many cases as they want to build a positive trust by showing off the team. But, I also have seen people buying 20-25 old linkedin accounts through this forum.
Even though this isn't always the case, it is still important to let the target market know what type of people they are dealing with, whether they have good credentials or not. I would not personally choose a project that has no transparency because that is very risky. Primarily because if anything goes wrong, I do not know who's accountable and anyone who is hiding under anonymous name probably don't want to be liable of any misaligned events.
The scam ICO is if the team not post they real faces , because they scared to scam people if they post their faces because people will hunt that team. But as of now even the ICO who faces team are scam people they did not scared of what happen. It depends only to you how choose ICO. Because most of the ICO are scam.
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