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

tutakhamunba

newbie

Activity: 57

Merit: 0

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

hero member

Activity: 1092

Merit: 501

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

full member

Activity: 448

Merit: 100

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

newbie

Activity: 39

Merit: 0

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

Way2Paradise

jr. member

Activity: 322

Merit: 1

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

member

Activity: 378

Merit: 11

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

full member

Activity: 1582

Merit: 132

BK8 - Most Trusted Gambling Platform

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

sr. member

Activity: 630

Merit: 258

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

newbie

Activity: 126

Merit: 0

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

member

Activity: 224

Merit: 11

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

hero member

Activity: 2632

Merit: 833

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

member

Activity: 476

Merit: 10

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

full member

Activity: 251

Merit: 100

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

sr. member

Activity: 700

Merit: 250

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

newbie

Activity: 154

Merit: 0

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

full member

Activity: 448

Merit: 100

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

full member

Activity: 571

Merit: 100

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

full member

Activity: 490

Merit: 108

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

newbie

Activity: 238

Merit: 0

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

full member

Activity: 434

Merit: 101

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.

martychubbs

hero member

Activity: 742

Merit: 503

I cannot catch the purpose of public showing my address, maybe they are worrying about security of investment money, it is not their money, it is money off investors. If I would gather money from the people, I would take every step that is needed in order to provide the security.

blockchainmarketus

full member

Activity: 448

Merit: 100

Quote from: janggernaut on July 13, 2018, 02:25:07 AM

Because they don't want to take any risk if something going bad with their ICO address funds (e.g hacks). That's why they hide their ICO wallet address to prevent that and they will be only tell people who joined on their ICO white list.

Ico in 2017 are transparents. They show the wallet investment for public address. More developers made succesful ICOs like RLC, Populus, Crowdholding and ICOs in 2017 are more transaparents. Even ZDr than I underestimate show the wallet address. In the case of hacked, I think developers should know how to secure the wallet. I invested in RVT, Coss, Crowdholding and FYP and some others feel confidence because we monitor the progress. Whe the fund is increase we are happy because ICos reached the hardcap. Hardcap achievement is important for investors because we will know that the market reacts because of the start of ICo price. ICo price will down if bounty hunters sell the coin at low price. All investors will keep the coins or buy them if they know that the coin is under ICO price. Now We donlt know that ICO reached hardcap. the developers claim but the fact the price in the market very low and sometimes 90% under ICO price. This is because not transparant developers.

blockchainmarketus

full member

Activity: 448

Merit: 100

Quote from: Yudhisthir on July 13, 2018, 02:09:20 AM

Yes, they should be able to show every investment wallet however large in number it may be. It would certainly increase the transparency and hence the involvement of investors. Investors should too focus only on those transparent ICOs boycotting suspicious ones.

Great idea. To prevent scam ICos most members bitcointalk should boycot the ICO. i think the power of ICO now is from bitcointalk members. without bitcointalk members ICOs are nothing. They can't promote such a massive boom in social media and blogs. The worst they sometimes ignored bounty hunters when they made a lot of money. It is unfair. One word to say indicated and not transparant ICo

" B O Y C O T "

iram3130

legendary

Activity: 1512

Merit: 1010

ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀

We have seen so many ICO's scamming these days with statements like they were sold out in the "early pre-sale" or "sale for angel investors". I just stop following those projects if thy dont show the proofs to those claims.

berkatmendrofa

member

Activity: 295

Merit: 11

I think it may be the strategy of their project to attract investors to invest, I see there is also a transparent ico, maybe this could be a good suggestion for ico project

quarkyplum

full member

Activity: 378

Merit: 100

IMO, the potential of the bounty project is not necessary to show the investment wallet address can also be recognised through the Token sale index. So you should not be so critical on the details that you should evaluate the potential ICO project across multiple factors to find potential ICOs instead of going into specifics.

O9NpJ9ld1opS

member

Activity: 176

Merit: 10

“Blockchain Just Entered The Real World"

Yes, I have seen many projects hiding their contact address and not showing it openly. That is a red flag indeed. They may be hiding it maybe because they are not recieving enough funds as expected.
Hiding token metrics is a bad thing in my opinion. I ll never invest in such a project.
Some may be hiding because of fear of regulation also, but anyway it's a red flag.

fosco333

full member

Activity: 1260

Merit: 100

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.

Yes i understand what we want is transparency because it will boost the investors confidence.
If you want to running some ICO, makes sure you give your public sale address so you can gain your investors trust.

rumoo42

newbie

Activity: 56

Merit: 0

Now ico does not use only one address for fundraising. Instead, it distributes different addresses to each person and then summarizes them themselves, but it does not tell investors where their funds are. This is an opaque performance that cannot be supervised.

commander11

sr. member

Activity: 547

Merit: 250

0x3f17f1962B36e491b30A40b2405849e597Ba5FB5

Quote from: blockchainmarketus on July 12, 2018, 11:06:36 PM

I also wonder ICO ann just for about a week and stated that they have made succesful presale. It is a kind of public fake statment. They also claim that they have made million USD. The worst is that many people still trust the ICO and invest. When the ICO ends the coin in the market under ICO price , I think it is because fake investment report. Market is more honest than fake developers.

not all ICO really care about ANN or any other forum, this is just a part of an awareness concern. Look at Solana, Hadron and the likes, they are more active in developing the internal project rather than marketing. Don't generalize the concept when a few lures and use this kind of fraud. There is so much more your nee to know.

janggernaut

legendary

Activity: 2366

Merit: 1130

Because they don't want to take any risk if something going bad with their ICO address funds (e.g hacks). That's why they hide their ICO wallet address to prevent that and they will be only tell people who joined on their ICO white list.

Itsmylife

sr. member

Activity: 1002

Merit: 250

I think that in the case of their hard cap target cannot be filled full but they still want to run their project, so hide the investment wallet address is the first step must do. Investors just see what they want to see

it will attract more investors when they think that the project is invested a lot.

cryptobae10

jr. member

Activity: 658

Merit: 5

This is why making utmost personal research is the best before participants invest or join an ico
You need to check email through the product , their transparency and credibility report too
And also monitor the roadmap development too

Yudhisthir

full member

Activity: 1055

Merit: 103

www.Artemis.co

Yes, they should be able to show every investment wallet however large in number it may be. It would certainly increase the transparency and hence the involvement of investors. Investors should too focus only on those transparent ICOs boycotting suspicious ones.

shinratensei_

legendary

Activity: 3234

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

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.

Lack of transparency i suppose but have you tried to track it through the sign up to the token sale portal? I think you can try to use that way to track the wallet but it looks like it will not so easy. at least they must be honest to make their wallet become transparent for everyone.

Bumidinasty

member

Activity: 373

Merit: 13

I agree with your opinion why they are not transparent, or they hide something to deceive the investors and nobody knows, we can give suggestion to ico project, maybe we hope for the future ico more transparent.

vcmnb5

newbie

Activity: 49

Merit: 0

My attitude towards ico is that I have to figure out what I don't understand. If I ask them, they don't give me a clear answer, or they have a series of plans, roadmaps, etc., which are not clear. I think it is very likely to be a scam.

deeofficialx

full member

Activity: 462

Merit: 113

Need me? PM me!

Quote from: blockchainmarketus on July 12, 2018, 11:06:36 PM

Market is more honest than fake developers.

Sad reality.

I must say, almost 97 percent of today's ICO fell down when they get listed in an exchange. First, because we are currently on a bear market and second, the team are not transparent enough, and third, the ICO Project don't really have a real-world usage.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

There are ICOs that are showing the wallet address of the total investment so if the ICO you are longing to join isn't transparent with their reports and your concern, just simply don't join.
You need to be wiser with the hard earned money you want to invest in ICOs or you must take a closer look to trading.
You are investing to an ICO that will soon be traded on exchange so to avoid yourself from such scams instead of worrying about that and investing to ICO, invest in trading.

triciaa478

member

Activity: 350

Merit: 10

ICOs need to be regulated by external bodies or their funds need to be made public before every investors can have confidence in them.Most times it is misleading claims they make to attract people to invest in them.

yndye

sr. member

Activity: 616

Merit: 262

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.

Omega Weapon

hero member

Activity: 1092

Merit: 501

Quote from: MigoAmigo on July 12, 2018, 11:17:25 PM

Token startups need to start being accountable for the fundraising they have completed, and this starts with providing token investors more clarity into finances at any given time. None of us want to be holding on to the next Enron, Worldcom, or Madoff. How do we prevent that? Self-regulation and standardized due diligence is a start.

Self regulation is not going to work, the icos had a chance to do that for years and this is precisely why we are in the situation we found ourselves immersed, in my opinion the people are the ones that need to change their habits, we need to start demanding this kind of stuff and the ico that does not comply will not get an investment out of us, if enough people do this icos will begin to show this information.

Azzhan

member

Activity: 210

Merit: 10

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.

pranazzs

member

Activity: 532

Merit: 11

Or maybe those who are not transparent are one ico scam.
better be careful with ico that is not transparent.

MigoAmigo

newbie

Activity: 70

Merit: 0

Token startups need to start being accountable for the fundraising they have completed, and this starts with providing token investors more clarity into finances at any given time. None of us want to be holding on to the next Enron, Worldcom, or Madoff. How do we prevent that? Self-regulation and standardized due diligence is a start.

blockchainmarketus

full member

Activity: 448

Merit: 100

I also wonder ICO ann just for about a week and stated that they have made succesful presale. It is a kind of public fake statment. They also claim that they have made million USD. The worst is that many people still trust the ICO and invest. When the ICO ends the coin in the market under ICO price , I think it is because fake investment report. Market is more honest than fake developers.

Anandhi

full member

Activity: 266

Merit: 100

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.

When an ICO stated that they already reached such amount of money but not letting us to prove it, that for sure can be considered as a false statement. They use anything to attract people to join.

blockchainmarketus

full member

Activity: 448

Merit: 100

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.

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