Topic: When Do you realize a Crypto project is scam or Fraud? - page 8. (Read 7822 times)
Usually I have to known that project is scam or not, I always view in the chat of their telegram group. If the group many respons and discussion about this project, I think that project will be good. And if you just meet the chat with only introduce like hello, hi etc. You will know that. This is one of many factor. More important, always check the completeness and clear purpose in whitepaper and their roadmap project.
Actually it is very easy if we want to be careful in paying attention to every phase that the development team does. One sign that a project is scam then we can see from the promise of the development team that is not realized. This promise for example giving a bonus early, working on each timeline in a timely manner, and making weekly stake updates regularly. If this simple thing is not fulfilled, then we must be suspicious. As a responsible development team, it is appropriate to do everything in accordance with the plan and promise. That's a small thing in my view.
At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?
The right way to avoid scam is to know how to determine it... Maybe this will help... -If a company website, whitepaper, or project descriptions are also full of nothing more than fluff, buzzwords, and portray a lack of substance, this is a clear warning sign that all may not be as it seems.
-Another classic warning sign that an ICO may not be everything it promises is also a return on investment (ROI) which seems too good to be true.
-If the blockchain startup has no links to samples or code uploaded to repositories such as GitHub, this may be an indicator that there is no blockchain development to start with.
-If you can't find any public records of individuals linked to an ICO that could, realistically, help develop a valuable blockchain product, they may simply be scammers looking to make a quick buck.
And yet,still the best way is to do research carefully regarding the project..
At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?
I personally have my own standard in determining whether the project is a scam or not.
The main sign if the project will be a scam is they do not update the progress of their current project
At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?
When they are not transparent and keep changing their rules, of course, they have stipulated that they can change the rules anytime, but not to the point that the investors' and bounty hunters money and effort will go to waste, like what happens to IRONX,Likerworld and Dexage, they keep changing the rules to punish bounty hunters and traders.
There is no interaction, update any news of the team / project to the community. Such projects are often vague about how they answer questions from the telegram group. Try to recognize them in an space. In addition, WP discrete and without professional evidence, checking or asking about the clarity of smartcontract (if they build on ETH) is also a way I often use to track teams.
At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?
If the team stop communicating with the community, it doesn't mean they are scam project.
Even the scam projects often keep communicating with community.
From now on, lets not invest in the project that we cannot verify whether it real or not.
actually this is what we need to consider before joining the ico project, but if we have joined the project then there is a problem with the team or project that we are following, I think we need to reconsider this. we have to make a decision by stopping following the project before our work ends in vain.
When the Github is no more update on the execution of road maps and team communicate less, it's time to call it before before they make the announcement themselves, if you allow team to make announcement themselves, it will be too brutal.
If you were about to notice if the project was a fraud, first thing to do was make a research about the subjected project before joining. Because it can cause you a lot of losses if you join in the project without having a projects team checkin. If you want a project which leads a good future investment and have a good accessible I can recommend BTC ETH and specially the uprising of Pimon coin which is really good about of investing.
There are different stages to knowing when a project is known to be a scam, it depends on when the initiators decide to execute their plan but the most common of them all is though ICO sales where a lot is raised through ICO sales and never get listed or even when listed it is listed on on unpopular or less volume exchanges where they eventually dump lot part of their tokens on inspecting victims, any token that falls more than 300% of their ICO value immediately on listing are often in this category
It is very easy to identify these scam projects. Right after the ICO, the team become mute in their telegram group and start giving excuses that they are busy developing the project meanwhile they will not be bringing any updates.
It can be found in so many ways at so many exchanges, that a token is listed on coinmarketcap and exchanges does not mean they are not scam. Have had a lot of coins that were listed and they eventually exited by dumping a huge amount of their coin to almost a zero value on exchanges where they are listed and that ends it
Maybe if it goes according to schedule then we can find out whether the project is a scam or not, because many ico projects do not fit their schedule as well as teams buy time and are not active in group communication. I often find criteria scam projects, but I avoid getting into their fake promises and maybe we should know in advance to research the project more.
better check it from its roots , who are at the back, if you see people with no connections in any crypto
group or should i say being active in any news then its one of the signs, second is the promise is too good to be true
promise millions in just a week or 2 is really a sign of scam so be very carefull
group or should i say being active in any news then its one of the signs, second is the promise is too good to be true
promise millions in just a week or 2 is really a sign of scam so be very carefull
When the projects stops updating their social media after the token sale has ended, most of the time their social media will have a frequent update about their project or token sale, if your going to invest into coins just invest into STO's, it's way much safer and also regulated.
First go to this section https://bitcointalk.org/index.php?board=83.0
if indeed there is nothing about the project we will choose then we go to the telegram to see the community there, after that go see the website and whitepaper to see the team behind the project
if indeed there is nothing about the project we will choose then we go to the telegram to see the community there, after that go see the website and whitepaper to see the team behind the project
At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?
No response from the team after their sale period will make a strong suspicion on any projects and most of then it will be a scam project as well so if you got so much fast response before you investing your money but later there is no can be considered you went for the wrong project.
The most common one is fake teams or fake advisors and there are some projects that have real teams but will be plague with lies after lies ,I could call it over promising investors what they can't achieve
At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?
Actually before I choose investing in an ICO project I'll find more about the project in several days, I'll not decide to spend my money when I feel this project will give me a huge profit but I don't like that. Find more about time is the first thing that I should done, after that the whitepaper and also I often to update on the scam accusations. This is important for you guys when you didn't know the way to measure the project is legit or scam then you should enough to active on scam accusations board. Because there are many people who has a high skill to find the scam project and I believe this is will help many people. So, when I realize that the project is deserve to be an investing place or the project have an indicate to scam when I found an awkwardness when I research it and I am waiting for someone who has same perspective with me and he posted on scam accusations.
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