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.
Topic: HOW TO SPOT SCAMMY ICOS? - page 2. (Read 398 times)
today, even the ICO team's identity can be very easy to forge. my advice if indeed the team is really serious in the process, they should still update even have their own youtube account that promote and provide the latest update about the project from ICO or maybe some ICO video review will be more great.
Many people dont want to list their name for regulatory reasons.
Not whitepaper, project, website.... For sure.. If the team is anonymous, that project is very likely to be scam more than 80% possibility to me. I would not even invest in many projects just team seems not good.
Anonymous isn't good for those ICOs, thats what the team should have in mind. If they keep themselves anon then maybe its better to just invest when the token they are selling to you are already in the market or if they have proved themselves to be developing the project well. It doesn't matter if you buy the tokens for a higher price so long as you aren't scammed.
This line isnt advisable and its too risky if the project wont go well in longer runs.
It doesn't matter if you buy the tokens for a higher price so long as you aren't scammed.
It feels like you had been scammed if you bought high then the price went down yet you would still lose money but still much better since you do still had money left unlike on scam where all of your money will fly away.
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.
Buying and selling identities is common.
Then it's hard to find out who really stands behind the project.
Read how to spot scammy ICOs!
https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
That's a nice read. I would also recommend to check if the Telegram or Discord group only has been grown with bounty asks or if it was organic.https://medium.com/@filip.poutintsev/red-flags-of-ico-cf21b99cbe56
And if there is a real team with real founders. Good due dilligence is the key to long term success.
Anonymous isn't good for those ICOs, thats what the team should have in mind. If they keep themselves anon then maybe its better to just invest when the token they are selling to you are already in the market or if they have proved themselves to be developing the project well. It doesn't matter if you buy the tokens for a higher price so long as you aren't scammed.
it is going more and more hard to spot scammy ICOs bcoz earlier they use to scam with fake profiles and pics .
now they comes up with everything real but without any experience and vision , just they give bonus and pay youtubers for videos and create fake hype .
people buy those and later find team do nothing serious to that project .
so we need not to spot scammy ico , change the strategy . we need to spot best icos with expert team members , known face of blockchain industry , known youtubers giving review of those . top scorer in spreadsheet of all ICO experts , real project with something different from competitors , etc .
now they comes up with everything real but without any experience and vision , just they give bonus and pay youtubers for videos and create fake hype .
people buy those and later find team do nothing serious to that project .
so we need not to spot scammy ico , change the strategy . we need to spot best icos with expert team members , known face of blockchain industry , known youtubers giving review of those . top scorer in spreadsheet of all ICO experts , real project with something different from competitors , etc .
Do you know what is best way to spot scammy icos? You should just look into developer team. Many good icos have great team members and links to their profiles on facebook & linkedin. This is enough..
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.
Yeah, that's a great article. But I will tell you that 90 percent Russian ICO is scam , so try to avoid them.
Really? Oh my a so many russian ico,i see lot of them so active and try to scam,but not all scammer.Let me just say its hard to know who is the scam ico,at first they active after few month they run
Yeah, that's a great article. But I will tell you that 90 percent Russian ICO is scam , so try to avoid them.
I don't agree with "8. Homogenous team" at all.
Most of the solid chinese and russian projects only have chinese or russian team. Close countries tend to have domestic members.
And sometimes a really homogenous team seems suspicious to me, this is not benetton this is crypto world. Yes a big project with a high market cap should have a homogeneous team, should appeal everyone around the world. But a small cap normal project doesn't have to be especially at the begininng
Most of the solid chinese and russian projects only have chinese or russian team. Close countries tend to have domestic members.
And sometimes a really homogenous team seems suspicious to me, this is not benetton this is crypto world. Yes a big project with a high market cap should have a homogeneous team, should appeal everyone around the world. But a small cap normal project doesn't have to be especially at the begininng
Like I said the article:
It's not always a red flag, I'm just skeptical in this case, and perhaps would do more research.
Sometimes, not anonymous team members ICO are also scams. And some anonymous ICO were not scams.
You can't really know if an ICO is a scam or not until at least 1 year.
You can't really know if an ICO is a scam or not until at least 1 year.
I can't come up with any reason why one should do anonymous ICO, unless you plan to scam people. Honest businessmen don't need to hide their identity.
Sometimes, not anonymous team members ICO are also scams. And some anonymous ICO were not scams.
Most of them are.You can't really know if an ICO is a scam or not until at least 1 year.
Even the assumed trusted developers are also being exposed as scam, just review some of it from the past. Sometimes, not anonymous team members ICO are also scams. And some anonymous ICO were not scams.
You can't really know if an ICO is a scam or not until at least 1 year.
You can't really know if an ICO is a scam or not until at least 1 year.
I can't come up with any reason why one should do anonymous ICO, unless you plan to scam people. Honest businessmen don't need to hide their identity.
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.
Buying and selling identities is common.
Then it's hard to find out who really stands behind the project.
I don't agree with "8. Homogenous team" at all.
Most of the solid chinese and russian projects only have chinese or russian team. Close countries tend to have domestic members.
And sometimes a really homogenous team seems suspicious to me, this is not benetton this is crypto world. Yes a big project with a high market cap should have a homogeneous team, should appeal everyone around the world. But a small cap normal project doesn't have to be especially at the begininng
Most of the solid chinese and russian projects only have chinese or russian team. Close countries tend to have domestic members.
And sometimes a really homogenous team seems suspicious to me, this is not benetton this is crypto world. Yes a big project with a high market cap should have a homogeneous team, should appeal everyone around the world. But a small cap normal project doesn't have to be especially at the begininng
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.
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.
Yes it's possible to buy fake account and scam people that way, this is why you should dig a bit deeper and check if they have any other social media profiles, or other online presence.
But anonymous team is still a very clear sign of a scam. Perhaps of a bad scam, since they didn't even bother to buy those fake accounts, but still a scam.
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