Topic: What are the distinguishing features of a scam ICO? - page 4. (Read 604 times)
I think you can check how the escrow releases funds. Scam ICOs are likely to release all funds towards development while genuine projects have proper planning regarding funds distribution, with specific percentages going to various aspects of project development such as escrow fees and others.
Hey everyone,
Would love to get a show of hands for the most distinguishing features of a scam ICO
.
Let's educate each other by picking your 3
-The CoinRating Team
If they are not giving any update in the ICO project, or the campaign manager even the team are not updating us, whether in telegram, Twitter, and in bitcoin forum, it is considerable scam for me. Would love to get a show of hands for the most distinguishing features of a scam ICO
. Let's educate each other by picking your 3
-The CoinRating Team
How about: fabricating a team of people who probably don't exist, create a linkedin profile for them. Act like they are major players in the financial/crypto scene but aren't to be found anywhere else on the internet. My estimation at the moment is that about 80-90% of ico's are scams. We need regulations and mandatory KYC of the whole team is one of them.
Actually, a scam ICO might not have clear information on founders and advisors. Therefore, before you venture into any ICO project, do your research to find out who is behind the project. In many instances, scam ICOs use pictures of people who are not even related to their projects. You can be shocked to find out that people listed as founders and advisors don’t exist anywhere on LinkedIn, Facebook, Twitter or Instagram. This clearly shows that such projects are not authentic.
For me,one of the commonest thing i see is so much attention being given to how to purchase the tokens or how you earn when you refer people to buy the tokens rather than on the quality or merit of the project itself plus absence or low availability of credible info about project.
From my point of view, , I think a scam ICO will not have a clear roadway. Genuine projects have realistic goals and an outline of how they intend to raise and utilize the funds. While counterfeit ICOs promise more than they can deliver. If you come across a blockchain project that promises only profits, seeks to eradicate poverty or global warming, aims to replace the internet, or advocates for a 10,000% profit ratio, think twice. It could be just another fake ICO ready to swindle unsuspecting investors.
From my point of view, one of the distinguishing characteristics of a scam ICO is that it does not have a roadmap or has unrealistic roadmaps. Initial coin offerings will generally provide potential investors with a detailed list of what they have achieved thus far in the development of their project, as well as what they plan to achieve, in the form of a roadmap. If a project doesn’t provide a roadmap at all, then it’s highly likely that they don’t have any plans for the future apart from “exit” and “profit”. Moreover, a roadmap should be realistic. If the ICO that you’re assessing hasn’t yet developed a working platform prototype or any code at all, then it’s highly likely that it is an exit scam.
I think a white paper is the most important element of any initial coin offering. In a white paper, an ICO will present an outline of what it plans to achieve, a breakdown of how the technical aspects of the platform function, and delineate its token distribution model. If an ICO doesn’t provide a white paper, then it’s undoubtedly a scam.
Hey everyone,
Would love to get a show of hands for the most distinguishing features of a scam ICO.
Let's educate each other by picking your 3
-The CoinRating Team
Would love to get a show of hands for the most distinguishing features of a scam ICO
. Let's educate each other by picking your 3
-The CoinRating Team
Actually its hard to define or distinguishing features of a scam ICO,but through some little experience maybe we can share each other tips.Mostly scam ICO have no clear roadmap and sometimes there white paper is always disame ,there is no changes of advertisement picture in twitter,or in facebook ads,and mostly theres an anonymous CEO of the project and the team,and lastly the community manager or the development team is not interested of the investor participation complain.
Take a look at an article regarding scam ICOs on our website https://icoguide.com/en/blog/how-to-identify-scam-icos
Personally, if your ICO links through to an empty repository or doesn’t provide a link at all, then it’s more than likely fraudulent.
I argue that of all the red flags that identify a potential fraud ICO, guaranteed profits are the most obvious. There are no certainties in the blockchain ecosystem, and no proven, reliable, or guaranteed methods of generating profits.
A scam ico has a fake website have a bad english especially in their whitepaper , roadmap, etc. The team are slow they focusing to buy their tokens not to their projects i suspect that they are scam.
There is no doubt that there are thousands of ICOs even going on right now but unfortunately, most of them are scams or fake and out to steal your money. Most of ICO scams target first timers, but even experienced traders and miners fall into the scam trap. I'm holding the view that one of the essential elements to consider when assessing a potential ICO scam is the individuals behind it. Never invest in an initial coin offering that has an anonymous team, regardless of justification. If you spot an ICO with an anonymous team, it’s most definitely a scam.
Team identity theft, no escrow and no kyc/aml. Online presentation, website, whitepaper etc. are easy, some scam projects even write few code.
Slow token distribution is not on schedule and no response when asked on their official channel, I see this from a simple side. 
In SCAM ICOs, when you have someone who answer to questions (CEO, admin or BM), he very often delay everything.
To any precise question about when somethig is gonna happen, you are answered "next week", "after we solve little problems" ...etc
To any precise question about when somethig is gonna happen, you are answered "next week", "after we solve little problems" ...etc
Most times, when you look deeply into the team of some ICO, you will notice that some use fake identities. By the time you contact the team members one after the other, you will discover that most of them are not aware of such projects. Sometime their white papers can be vague and might not be easily comprehended. You can also notice that the percentage token allocation is usually in favour of the developer and the team members.
Just recently met a team in which all the artwork was taken from various free resources, even were pictures from the series. Went to their Twitter there's more than 2000 participants. Checked them on twitteraudit and only 11% of them are real users many even profile is not filled. Even the documentation did not read. 
Whenever the website focuses more on how to buy token more than the project, I suspect a scam.
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