Bitcoin Forum

How we can identify of SCAM ICO and BOUNTIES ?
Can you suggest any format for this issue ?

there is no way for this. You need to be careful about who start the campaign. Also you can be careful about negative trust.

to know the scam or legitnya ICO program can be read on the explanation of his ANN ... usually if the scam then the contents of ANN is not clear ,, not clear what the program, not clear the specification, it is not clear who the founder and who his team ,, so if want know then we should read all the contents of the ANN explanation that has been published so that we can judge for ourselves ..

Rule #1 don't invest in a coin that just has a good name or someone told you to invest in
Rule #2 Investigate the company, founders, linkedin profiles
Rule #3 read what the project is, do you understand it? is it a new concept or just a copy of another coin.
Rul #4 don't invest in something when you can't afford to lose the money

There isn't a proven way to avoid scams at 100%.

But I can tell you what I'm looking for in a project:

- To have a decent site and roadmap
- To have a strong team
- Team to be with their real names and pictures

And of course to like what they are trying to do.

No one would really able to answer this question because no man or person could able to identify which project or ICO is scam for the very first time he encounter.This is the hard part as a bounty hunter and at the same time as an investor which we should really make some research and too be awared on suspicious things related to ICO or project.If you do see its too good to be true bounties and non transparent dev teams then its one of my indications.

Checking Github is also helps sometimes. Are there any regular essential updates?

There is no straight answer to the questions.
Everyone would love to know but we have to do our own research which is difficult i think.
Any oroject could start off as a legitimate one and any reason can turn bad and have people scammed.

I am not sure how to identify the steps to confirm the perfect project or not. Let me list out my tactics while investing on ICO token presale time.
First initially I share some time to read the white paper completely what is the project is all about.
Then go with the development team details and their CEO to confirm that they are able to take the project to long time or leave in between after collected the fund and scam us.
Next I go to check their Link-in Profile to confirm that they have legit friendship under their profile with the high trusted people. If it is newly created I would not go with investing on them.

You can review the whitepaper of the project, most reliable ICO are having a promising and a decent platform. You should also identify the members behind the team if they are really credible and not fictitious. And make sure to join of their telegram group and find out if the community they have are active enough to help you with your questions and concerns about the project.

Further investigation should really be an obligation as an investor because it will really help you out on avoiding possible scams.Might not be precise or accurate but we can have presumptions regarding on what we have known on a certain project.Scam identifying is very hard nowadays specially that are scammers are really very keen on showing their flaws and almost identical to legit ones this is why we should seek out valid and legit informations and transparency about the project.

I can't answer this question but I can give you what's on my mind and opinion about this. Most of the ICO investors now are starting to be wise and do join investors group and getting some free signals on what are the most popular, promising and good projects. But there's no assurance that they can identify those projects as scam only if they know who are the people behind the team. It's an indicator to know that project will not run properly and the money invested will just go in the hands of those scammers.

No one could really tell how to identify a scammer. But you should bear in mind that if an ICO promise or promote their project that is so good to be true. I mean that is way out of scale. I think you should be doubtful about that.

Thank you for the advice sir, i gain lot more information also thanks for posting this kind of thread :)

That's also my concern, it's really hard to identify this one suspicious or not. You guys can introduce some trusted tools or websites to detect or just list all scammy projects?
Thank in advance.

In each project it is necessary to understand individually because everywhere different conditions and different people are behind the projects. In order to determine the fraud or not, you need to learn as much as possible about the people who created the project, and most importantly do not believe in very large profits.

It hard knowing a good ICO from a scam but it'll help if you do a little bit of research on the members of the team