Topic: ICO owners and their dubious character. - page 3. (Read 482 times)
Still waiting for the launching of security token offering. Going by the rate of scam project on initial coin offering it has become very much alarming and could still coming continue because of the little or no restrictions to fraud projects
scams are everywhere even before the series of ICOs in 2017. the government was trying to resolve this issue through SEC but it seem like it will do more damage to us than seeing solutions because of the KYC. IEO is now introduced, though it may be good for investors we may not see transparency as well.
scams are everywhere even before the series of ICOs in 2017. the government was trying to resolve this issue through SEC but it seem like it will do more damage to us than seeing solutions because of the KYC. IEO is now introduced, though it may be good for investors we may not see transparency as well.
Well, they have all different characters but one thing in common.
They are all greedy. They can't get enough money. They want millions of dollars for just a web site or for an easy app.
The ironic part is that they don't even have to do it by themselves as there are many ICO service providers that will do all the work from writing the white paper, creating a website, managing social media accounts... just name it, all that for few hundred dollars. They are all greedy. They can't get enough money. They want millions of dollars for just a web site or for an easy app.
Perfectly described. There is a project that am following that is doing something similar to this. They told the community that they raised 12.5 million usd for the first ICO which ended in Nov, last year which they never list up till now telling the community that the market is not ok for such. These crooks launched another ico in January with a project that looks like sub-project of the first ICO and they are telling us now that they have raised softcap for it without any evidence to prove their claim
Well, they have all different characters but one thing in common.
They are all greedy. They can't get enough money. They want millions of dollars for just a web site or for an easy app.
They are all greedy. They can't get enough money. They want millions of dollars for just a web site or for an easy app.
Yes, look like OP writing true. I was wondering same thing. I am not sure or had not seen how many ICO's has been returned fund if they were failed raise softcap. Most of them exit with fund and perhaps made new ICO's since they know all the process. Who know ? There is no any method to identify if they do not expose themselves. And I don't think someone will expose their failed history. I believe by this way a same team creating multiple ICO's but we can't identify them. I don't know why people's are trusting on ICO and investing there. I think ICO's time is over now. I am expecting something new and people's should not lose their fund.
Of course, this may well be. The same people can create several ICOs in a row or even at the same time, because there is no regulation in this type of activity. Despite the fact that the ICO projects are now barely surviving, I think that their time has hardly gone, since this is a very simple fundraising and distribution of new tokens. I still hope that in the near future we will see government regulation of ICO activities. That regulation can save us from fraud in these projects.
Yes, look like OP writing true. I was wondering same thing. I am not sure or had not seen how many ICO's has been returned fund if they were failed raise softcap. Most of them exit with fund and perhaps made new ICO's since they know all the process. Who know ? There is no any method to identify if they do not expose themselves. And I don't think someone will expose their failed history. I believe by this way a same team creating multiple ICO's but we can't identify them. I don't know why people's are trusting on ICO and investing there. I think ICO's time is over now. I am expecting something new and people's should not lose their fund.
ICO as we all know is an avenue for developers to request for funds in order to carry out their project or their plans. As much as we have seen lots of scams in this crypto business, many more are coming.
i think the latest means by which these fraudsters scam people of there money is by creating multiple projects and launching it separately. Example. a project owner launch an ico project in January. the ico failed to reach soft cap, maybe raised a little amount of money. the owner declared a loss and shut down down the project, informing investors about the update and promise a refund.
there is every probability that 40% to 20% of investors has forgotten about this project and may not request for their cash back. simply because the tokens has been send to their wallet.( sh**t coins). they are plenty.
watch the next move: the owner launches a second project maybe late july or august changing all information and using the funds generated from the first project to facilitates the second project.
Guess what, if the ico turns out to be successful, we might move to the next stage(exchange launching, project development) but we all know the outcome of an inferior projects.
Or the same initial process may continue if project failed to reach soft cap, I.E shuting down, promise payback which they can't fulfill and come back again with an entire different story.
so many ICO owners has tried this pattern many times stealing peoples and knowing fully well that they have nothing to offer.
we need serious help in this crypto community.
i think the latest means by which these fraudsters scam people of there money is by creating multiple projects and launching it separately. Example. a project owner launch an ico project in January. the ico failed to reach soft cap, maybe raised a little amount of money. the owner declared a loss and shut down down the project, informing investors about the update and promise a refund.
there is every probability that 40% to 20% of investors has forgotten about this project and may not request for their cash back. simply because the tokens has been send to their wallet.( sh**t coins). they are plenty.
watch the next move: the owner launches a second project maybe late july or august changing all information and using the funds generated from the first project to facilitates the second project.
Guess what, if the ico turns out to be successful, we might move to the next stage(exchange launching, project development) but we all know the outcome of an inferior projects.
Or the same initial process may continue if project failed to reach soft cap, I.E shuting down, promise payback which they can't fulfill and come back again with an entire different story.
so many ICO owners has tried this pattern many times stealing peoples and knowing fully well that they have nothing to offer.
we need serious help in this crypto community.
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