Why Most ICO don't show the investment wallet address?

tutakhamunba

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Quote from: Omega Weapon on July 21, 2018, 11:53:49 PM

Quote from: yndye on July 12, 2018, 11:41:47 PM

Quote from: Azzhan on July 12, 2018, 11:20:31 PM

Yes, this is also a problem for most ICO projects today. Angry

I think most ICO projects are hype at present, and the funds raised have not been disclosed.

It is like deceiving the investors when they don't provide the address of where the funds they collected are stored and claiming that they have raised such funds. I think this should be the requirement when they state that and show proof that they have receive such amount. Most are in ETH and BTC though so it is traceable. I have joined one bounty and proudly claimed that they have raised thousands of ETH on presale and reach softcap but when ask where is the proof and address, they wouldn't say it and always saying that they will reveal it soon. It's clearly a scam.

This is getting more common every day but at the same time investors are identifying this form of scam, an ico can claim to have raised any amount of money they want but if they are not showing proof that is the case then we have no reason to believe them and it is a good idea to question them and to make them to prove their claims if they do not then we can say that most likely the project is a scam.

If they don't want to show their investment wallet address, they will have many reasons to reject the investor requirements. What can we do? we can't ask for refund, they won't accept.

If they show their investment wallet, we can check where our money goes after the ICO ends? or does they use the money in right purposes as the light paper info?

Everything must be clear, the investors should unite and try to ask for this.

Omega Weapon

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Quote from: yndye on July 12, 2018, 11:41:47 PM

Quote from: Azzhan on July 12, 2018, 11:20:31 PM

Yes, this is also a problem for most ICO projects today. Angry

I think most ICO projects are hype at present, and the funds raised have not been disclosed.

It is like deceiving the investors when they don't provide the address of where the funds they collected are stored and claiming that they have raised such funds. I think this should be the requirement when they state that and show proof that they have receive such amount. Most are in ETH and BTC though so it is traceable. I have joined one bounty and proudly claimed that they have raised thousands of ETH on presale and reach softcap but when ask where is the proof and address, they wouldn't say it and always saying that they will reveal it soon. It's clearly a scam.

This is getting more common every day but at the same time investors are identifying this form of scam, an ico can claim to have raised any amount of money they want but if they are not showing proof that is the case then we have no reason to believe them and it is a good idea to question them and to make them to prove their claims if they do not then we can say that most likely the project is a scam.

blockchainmarketus

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Activity: 448

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Perfectly true. If a company expects investors’ confidence, they have to show what they’ve got in their wallet for investors to see the funds raised. If the company refuses to do so, you’ve got to be especially cautious with them. Showing a invested address wil be secure if the developers know how to secure the walet. If not , we question to the developers why they claim developers if they can't secure their wallet.

Lookjooru

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They may be hiding it, perhaps because they are not getting enough funds as expected

Way2Paradise

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Quote from: blockchainmarketus on July 12, 2018, 09:48:18 PM

This is a suspicious act. Most ICo don't show the wallet of investment? Why they claim have made succesful presale but no wallet to proof that. Why Most ICo fail they are not transparant. Transpancy is one of the cryptocurrency concept. I think they deceive investors by doing that not showing investment wallet address for public.

i think its better if a ico is so transparent and shows the revenue. but sometimes icos also get fiat money. of course this can not be shown publicly. anyway, transparently is for a good ico important.

Jonnitor

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i think most ico didn't show their investment wallet due to hacking, in which they are vulnerable to being hacked. its also a good thing for an ico to not show their investment in public.

lalabotax

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Quote from: blockchainmarketus on July 12, 2018, 09:48:18 PM

This is a suspicious act. Most ICo don't show the wallet of investment? Why they claim have made succesful presale but no wallet to proof that. Why Most ICo fail they are not transparant. Transpancy is one of the cryptocurrency concept. I think they deceive investors by doing that not showing investment wallet address for public.

good question, which should be answered maybe from ico developer team. but I think not all policies are wrong, there are some ico who really do it well even if it does not display the address of the wallet or the success of presale

Jombrangs

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For me the reason why most ICO don’t show the investment wallet address it
because they are securing their investments from the hackers or theft that expert about this and also to be safe.

Arceusz

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I think the reason why most ICO don’t show the investments wallet address it
because they protecting their own investments from the scammers that have bad aims to their investments.

Iniya

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Perfectly true. If a company expects investors’ confidence, they have to show what they’ve got in their wallet for investors to see the funds raised. If the company refuses to do so, you’ve got to be especially cautious with them.

TravelMug

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Quote from: blockchainmarketus on July 12, 2018, 09:48:18 PM

This is a suspicious act. Most ICo don't show the wallet of investment? Why they claim have made succesful presale but no wallet to proof that. Why Most ICo fail they are not transparant. Transpancy is one of the cryptocurrency concept. I think they deceive investors by doing that not showing investment wallet address for public.

Perhaps to avoid being not able to be track by hackers? Just guessing. But I agree with your point, sometimes ICO says that they already hit their softcap target and even posted it on their website, however, chances are those scammers are just hiding the truth behind and next thing you know they already run off with investors money. However, I can only think that security is the main thing that's why they are hiding the funds. I could be wrong though.

conanmori

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This kind of method should be remove investor should have transparency so we can monitor what's really happening on raise funding.
Some ICO mostly post something that achieved this fund but when you look on how they managed to reach with low people active on twitter/telegram.

close up

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Nah, I'm not the part of their team so I don't know why. Mostly an ICO promised that their platform had transparency, but their wallet for the ICO doesn't. Undecided

indobitcoin.tk

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not all of the ICO does that. There is still the ICO that showing their wallets and I think it's more believable. in the absence of wallets are displayed will certainly make sense to suspect that there is and even this sense of attraction to invest in ICO slightly reduced. but with a system like that then the investor is required to analyze the well even though it does not have a wallet that is displayed.

oldmember2014

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They don't want their fundraising situation to be announced and supervised. Once everyone is told, they will be questioned a lot, and many teams don't want to see it. They just want to control their own funds as they please.

blockchainmarketus

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There are to many extended ICO,It means they have reached the softcap or hardcap , however they claim have reached the softcap. while they claim that it has sold billions of tokens I've asked this several times on some ico but did not get an answer, now they even claim the number of whitelist participants by using airdrop or bounty participants and using it to attract investors, I guess that's not good enough. I think transparancy will grant the investors to trust the ICO better.

apitico

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I think that it is not necessary to participate in such ICO, because it is often done only to attract people, so as not to show real results. In any case, it is extremely suspicious.

mukabokep

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I think almost all ico nowadays never show their wallet, while they claim that it has sold billions of tokens I've asked this several times on some ico but did not get an answer, now they even claim the number of whitelist participants by using airdrop or bounty participants and using it to attract investors, I guess that's not good enough

simapple

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Because most of them are scammers and do not want to show real numbers, but show what the investor wants to see-good indicators of fundraising.

Transformbitz

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That's give me a big question, Looks like they have loop holes on that. We are all seeking for a good investment on ICO but they didn't show any address to look. I guess we should ask them directly on Telegram for latest updates so they will be more transparent on us.

Topic: Why Most ICO don't show the investment wallet address? (Read 462 times)