Scammers ruin ICO fund raising - page 3.

Mahanton

hero member

Activity: 2730

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Quote from: key4co.in on August 18, 2019, 03:22:15 AM

It's wise for a project team to run their IEO only on exchanges with good reputation if they must do an IEO. Doing IEO on just any exchange without reputation is a 50:50 chance of getting back (or not getting back at all) their funds after token sale and also posing high risk for investors. ICO would have been great but scammers spoilt it like mentioned here, let's just stick to IEOs on reputable exchanges to reduce risk of losing funds to scammers.

With IEO craze we have seen now new exchangers had been pop up which means these are the new places for scammers to take advantage and make easy money thru IEO.ICO was indeed a good one for project owners but due to rampant scam it did really mainly affect its reputation which do lead up on losing interest
or people are already afraid to directly invest.

ALLAH 1

newbie

Activity: 76

Merit: 0

Looks like you have misunderstood or you have written wrong. because what you have clear is a work process of the IEO program not ICO. if ICO all funds go to the development team, scam projects often occur due to the development team that is less responsible for their tasks.

letyouearn

legendary

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IEOs are definitely more safe for investors, especially when being held on some famous and stable exchanges. But this is not the guarantee you will sell your tokens at higher prices after the listing.

SirLancelot

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Quote from: Stanlo on August 15, 2019, 09:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

You’re right. I have seen such a thing happen, and it was reported on this forum. Can’t remember the name of the exchange they were blaming , they said that after the IEO finished , the exchange claimed that no money was gotten from the IEO and the devs had to refund all the investors back their money and never got anything and that led to them shutting down the project. That’s really bad, but there are still some trusted exchanges that devs can make use of , Binance is a trusted exchange, the only problem is that some exchanges will not be able to afford it. If not for that, then they would have all been going for it.

ICOs would have been the best if not for these dumb and wicked scammers that always look for the opportunities to ruin every good thing they see.

The worst part of it all is that most of the ICOs in the market are just owned by scammers and they are now making people to feel like every ICO there is in the market is scam. That’s why everyone is rushing into IEO because they believe that IEO is more safe, but sometimes these IEO's don’t favor the devs.

zulfi125

full member

Activity: 1382

Merit: 105

In previous years and now most of ICO's was scams and some of the projects were not launched in the market that is reason investors are not investing in ICO's and if project team launch ICO than investors will not invest more, maybe the project can be good but can't raise more funds and IEO is more good way to raise funds from token sale but projects need to launch in good exchanges and scam exchanges should be avoided and reported .

Talomericahar

newbie

Activity: 56

Merit: 0

IEO is better that ICO in many aspects.
Just think for yourself and don't let anybody fool you.

key4co.in

hero member

Activity: 812

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It's wise for a project team to run their IEO only on exchanges with good reputation if they must do an IEO. Doing IEO on just any exchange without reputation is a 50:50 chance of getting back (or not getting back at all) their funds after token sale and also posing high risk for investors. ICO would have been great but scammers spoilt it like mentioned here, let's just stick to IEOs on reputable exchanges to reduce risk of losing funds to scammers.

Bossfidelity

copper member

Activity: 350

Merit: 1

We can't deny the fact that Scammer are plaguing the entire cryptocurrency space. One of the reasons why countries are restricting their citizens from joining the industry is because of the prevalence of scam and until we get things right, the issue of mass adoption of cryptocurrency is a long thing.

InwardContour

sr. member

Activity: 644

Merit: 260

ICO craze died when many fakers with bad intentions to scam and not develop any project came into the scene. It's true that ICOs if continued in the right way would have given the project teams more control of entire funds raised for development of the project, but the sad truth remains that they never channel all allocated funds to project development. That aside, safety first hence IEO done on reputable exchanges is by far better than ICO. IEO even gives an edge to projects since many investors buy in with confidence and most times the hardcap is met, unlike ICOs that struggle to hit softcap most often. Why will a project team even think of doing IEO on an exchange that is not reputable? that is the only way they can lose funds to scammers. Let's just embrace the new form of tokensale (IEO), there is no need reminiscing on ICO since it's old news.

joshy23

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Quote from: digitalblock on August 17, 2019, 12:04:42 PM

When there was no IEO all complained that there is no supervisory authority. Everyone was afraid to participate in the ICO. But now that we have every chance to avoid becoming a victim of fraud you again go the same way. We can't live without deception. For the organizers of fraudulent projects - ICO is a very profitable business. Until such time as people will not go for easy money, deception will not stop.

Scam projects are everywhere only responsible people will take time to understand and do right actions to avoid being victimized, there should be no rushing around so picking the right or deserving project will happen, this mentality about quick profits needs to be removed and start looking for the real usage and not always taking chances to quick dumped after being added to exchange.

(o)(o)ilikeboobs(o)(o)

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Quote from: Stanlo on August 15, 2019, 09:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

ICO was dead long time ago. Scammers are ruined it, after few successful ICOs, they use this type of offering as a tool to scam, and even easier than traditional way, get much more money without and lawsuit.
I Think ICO or IEO is not criminal. Scammers can think about anything to take people's money, they are should be eliminate for good.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: Stanlo on August 15, 2019, 09:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

You can't really say that IEOs are safer than the ICOs. The current situation of the IEOs remind me of the situation of ICOs during mid 2017. IEO is still a relatively new concept and there is a false sense of security among many of the cryptocurrency users regarding it. But looking at the overall structure, I can foresee serious issues with IEOs in the near future. I have seen little known exchanges listing 25 IEOs at the same time. When you have that many, the quality will obviously go down.

Xampeuu

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Quote from: digitalblock on August 17, 2019, 12:04:42 PM

When there was no IEO all complained that there is no supervisory authority. Everyone was afraid to participate in the ICO. But now that we have every chance to avoid becoming a victim of fraud you again go the same way. We can't live without deception. For the organizers of fraudulent projects - ICO is a very profitable business. Until such time as people will not go for easy money, deception will not stop.

fraud occurs because of the weakness of the law governing ICO, so many fraudsters are always looking for loopholes to get money easily. without legal protection, I think fraud will always be there, and we personally have to be careful to choose projects, because if we make a wrong move, we cannot complain to anyone

maxreish

sr. member

Activity: 1330

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We can't go back to that past "ICO" days before. The damaged has been done and scammers already ruined the momentum of ICO. If IEOs will be the solution to prevent scammers from ruining the upcoming releasing coins then I can say let us give time for IEO to prove that thing. They are starting to build their good reputation and scammers actually find it hard to enter IEO.

flemmings02

jr. member

Activity: 182

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Quote from: Stanlo on August 15, 2019, 09:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

Yes, I agree with you. Just before ICOs became scammers community it was an interesting investment opportunity, but there is no investors willing to put the money at huge risk, and ICO is no longer seen as that opportunity but a way to lose money.

islafilipina

copper member

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I think now scammers are really having hard time to do their bad work because their is IEO now this is IEO is more secure for investors and less worries Wink

Tipstar

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Quote from: Stanlo on August 15, 2019, 09:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

Where there is money, there are scams involved. And sometimes differentiating the project to be a legit or scam becomes difficult. There are several reasons why investors call a project scam. And several other scams which doesn't get a scam tag from the investors, at least until it's profitable. So, it's also the lack of research from investors and thoughtless investments that are boosting the profit and morale of scammers and are making it a lucrative market for them.

Prettygirl01315

sr. member

Activity: 630

Merit: 250

that's why some of the projects that are doing ICO right now are not trusted anymore because the investors have trust issues with it which right now the one that is invested are IEO project which is more secured and profitable in the near future

jack wira

member

Activity: 490

Merit: 14

If I think ICO is better than IEO, only a scam in an ICO project is due to the failure of the team that manages the project because it did not reach the target so that there is a scam or fraud, if this problem can be overcome then the ICO will definitely be more profitable

jazmuzika217

member

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So that's why I am always go and stick at old already trusted exchange and project. Because all we know that here in crypto world nothing is impossible and all of transactions can be controll by someone who have lot of knowledge about technology like scammers. They can create fake or scam project so be careful to for your every investments.

Topic: Scammers ruin ICO fund raising - page 3. (Read 4925 times)