Bitcoin Forum

Hi community members! Here you can write down projects that are scams. Argumentation will be appreciated.

This way we can have a record of all frauds in one place!

It is good idea, but each member who announces about "scam" project should provide very solid facts about it with links and proofs, otherwise, it will be considered as FUD and manipulation.

Yes, along with argumentation also evidence should be supplied.

Moreover, perhaps we need a definition of scam here in crypto. I would say there are 2 categories: Fraud (team takes money and runs) and incapacity (team keeps promising, but it is clear they cannot deliver/are fighting and are only wasting money&time).

For instance, an example of fraud would be PayCoin. An example of incapacity are current events at Tezos.

What do you think?

Personally, I participated in the bounty for the EthBooks ICO. Here is their thread https://bitcointalk.org/index.php?topic=2108840.1040
At the forum, many already believe that it was scam!
The project promised to be successful, but since October 21 (the end of iso was on October 20) the manager disappeared. In the telegram, too, everything is "deaf". So you can track the team of developers of this project and no longer trust these people.
P.S. glad to be wrong

this is a very good moves and is going to help a lot of people from falling to the wrong hand when it comes to ico

People should simply stop supporting these copy paste announcement threads..

You are the ones that keep these people going as they benefit of your backs..

this is thread nr. 15 around scam ico's and their identification someone could make an ico certification business

I think is too early for something like this. Many ICOs need time to develop a real product, let's don't judge from so early! For sure there are some very bad team out there, and bad projects. In my opinion the most ICOs at the moment are not good, and I wait for something good to invest my money...

Participated also in a bounty campaign which is Lydian Project, wasted my time doing daily activities for that. Still lucky it just ended a week of promoting that project. I really think all bounty campaigns should be escrowed. Anyways, there's lot of new promising ICO out there.

to be honest it's a lot of scam ico projects that have sprung up late, but it's very difficult to prevent, because it's very difficult to determine which scam ico project and what is not, all that can be done is only to do a deeper analysis, can be seen from the roadmap, whitepaper, and team profile

Thank you for this thread. We really need to keep track of these scam ICOS, I've lost money investing in one.

I am very supportive of you because this issue is now a lot of fraud ico and cause a lot of loss for investors especially new people they can lose a lot of money if the trust in the advertising ico Report. I think I should set up a topic and gather people to discuss the list of ico scam as soon as possible

There needs to be a criteria developed and credibility to the claim that is made with a scam.  Just asking people to post what they believe is a scam is just as dangerous an can be damaging as a scam itself.  I've seen users call legitimate projects scams just because they were unable to secure tokens during an ICO and were mad.

Good idea but it to see does ico is scam time is needed
I dont remember name but i saw loan ico last time
Pure ponzi loans at 1% and anoymous,ponzi scam
We have flood crypto banks ico's i guess 99% of them is scam

Very easy to say scams '' if we want to discuss scams must have accurate proof, concrete links to review really scams or just mere boast

by the way your question is good too
because by knowing ico scams, we will get away from bad investments

Yes, I think it is so hard to point out which project is a scam. No one can confirm until the end of project. However, I think if there is a list of "doubting projects" this can help many investors to consider carefully.

We appreciate when someone can list down all scam ICO's but it seems hard to figure out which ICO is scam or not because they're all good to be true. I've been joining some airdrops before that is not paying or giving us tokens so that would be a clear scam.

Have you ever seen someone like Theymos or any other reputable moderators to engage in an ICO related topic? of course not, because they are not sure

Whether a project will succeed or fail, even if they do participate, they would do it by using alternative accounts, because they don't want the community to

Think they're endorsing some of the projects behind some ICOs. there are even some skillful coders among the moderation team, they are not engaging either.

While the best of this community are out of this game, you should take the hints mate.

If companies are not very honest, you cannot be sure that they are not scam. They can spend the money they were raised in personal needs and hide it on documents and so on..

I think it is a good idea but we must be careful and indicate enough evidence so as not to harm an innocent project because of minor disagreement between the whistle blower and the owners of the projects.

Since I started trading cryptocurrencies I met only few SCAMs:
 - OrenPlatform. I participated in their bounty campaign. They raised 50k dollars and deleted all information including website, social accounts and Linkedin accounts.
 - Verify. Not a SCAM really, but they didn't manage to reach their softcap and decided to return all the funds to investors. Bounty hunters didn't get anything for their work.
 - HomeToken. The same issue as Verify, not sure actually if they returned the funds to investors.

This idea you have thought of my friend is actually quite amazing in my opinion. Because clearly a lot of newbies in the forum and the crypto world as a whole can really benefit from this idea. Specially now that a lot of shitty and scam ICOs are popping out of nowhere like acnes on my face. Lol.

But seriously though, just like what other people have said, the accuser should provide a lot of verifiable evidences and sources if they want to raise an accusation. Clearly because anyone can be biased in making accusations. Besides, everyone has the capability to accuse anyone of anything.

Will be watching this thread.

It would be a good idea if you actually make a list then post a thread asking to have coins added to it. People here know what I mean.

There are a lot of projects in the mist of uncertainty exist. I can’t see what happening with my tokens. They don’t rise and don’t fall. I have an impression of external controlling of the price for keeping money in hand of swindlers.
What do you think?

Yes so then they will check if it is a real scam, but the user who is asking must provide real proof with links and photos so that we will know if it is real scam ico to scam people their money.

If this list is made scammers will have a hard time to scam people.

Hey guys, wow, I see there is a real pain point here :) Lots of good answers so far.

One more question: who else do you think is mostly affected by scam ICOs? So obviously there are investors who lost the money and on the other hand bounty hunters / marketers who did the work (promotion) without payment.

Are there any other stakeholders that we are missing out?

DeClouds, E-dinar, Solarflarecoin, Prcoin, ebitz, Lithum, Monkey Capital, Ascendancy, PRO Commerce, AdsCash, Droplex, Beth are just some of the ICO scams list I know. Some of these fake ICOs even have an ANN thread here at BitcoinTalk where they promoted their scam. Now if you would like to know more about them and why they are considered scams, I suggest you read the post from the ICOIndex in this link (http://icoindex.com/index/scam) because they provided there a detailed explanation and critical summary of what these scam ICOs did to make money from their victimized investors.

It's true there is a lot of scam projects and it's harder to find a good one. But I truly believe there is a big future of ICO's, so we now just need more patience to do our researches, but not a list of scams other people make

We need know the scam for beware it

Hey, thanks for the scam projects names!

The link you posted is a list of what ICOindex thinks are scams. Is there more information regarding when do they consider a project a scam and (as you write) what they do with the money? Do you maybe know if ICOindex has a valuation checklist which they follow when evaluating projects?

CONfido  :-[

Since you asked, you should collect all the ICOs reported by the people and list them on the first page.

I agree, and im sure that list would be quite long. Good Luck!

I personally witnessed an ICO (which I knew well, the team, the model, etc) being attacked by some guy in social media without showing any proof. He retracted his accusation later, but "burn the witch" can mentality can escalate quickly.

Yeah I agree - if anyone states that a project is a scam they need to back it up with evidence, otherwise competitors could simply slander each others projects

This is a good thread. We all need to know those ones, who are dishonest in their play (I cannot call it even a business — just fraud). You can also check scammers that were caught here:
http://icorating.com/

ico A lot of the market is a liar project, the coin on the exchange directly below the issue price, after a long time to rise back, many investors are losing money. Such a lot of coins, such as ppp, ast.

Good idea, however as someone mentioned it, we need a way to prevent competitors and "crazy" "witch-hunting" people away from posting irrelevant claims. Any ideas how to do that?

So far I have collected the following projects from this topic:

EthBooks ICO = team disappeared
Lydian Project = bounty campaigns not paid
OrenPlatform = team disappeared, bounty campaigns not paid
Verify = bounty campaigns not paid
HomeToken = bounty campaigns not paid
DeClouds
E-dinar
Solarflarecoin
Prcoin
ebitz
Lithum,
Monkey Capital
Ascendancy
PRO Commerce
AdsCash
Droplex
Beth
Confido = team disappeared

There's a large list somewhere in this forum that contains all the scam coins and their information on the scams that they are doing.

It is quite predictable that for a not so promising ICO the investors will dump their tokens at the start in buy back later if the project reveals itself to be doing great.

Also keep in mind that in most ICOs early or bigger investors get Bonus Tokens, e.g. if you get +200% Tokens, why not dump some?

It will be better to make a list of ICO's that are legit in good.

Much easier, this ann would have been empty then  :D :D :D

There are a lot of scam ICO so if anyone wanna list them out I think this list will be very long :)). But as I see people don't really care about the list of scam ICOs, they just care about good and truthworthy ICO so it's much easier if you want to find list of good ICOs:))

Of course, I also stick to this idea that this topic is needed. And I was expecting here to see more specifics and really useful information. So far, such information is very small.

There's a lot of Scam ICO so beware of those thing. stay away and read rules regarding their development,whitepaper and roadmap if they have many followers then go.

i think the idea of having such a thread is pretty helpful and informative, but i agree with the people who have posted here, it is a very responsible thing to accuse anyone without proof. i just want to inform u, that the ETHBOOKS are behaving suspiciously lately.. haven't heard anything from them for a while.. but again, it is just my opinion, which i am not sure is right.

I think it's really hard to create a list of scam ICOs project. For now almost ICO project keep their investment address private so it's really hard to know the amount of money of any ICO project got is real or not. Beside the ICO project often last really really long so sometime you only can know which one is scam project or not until the end of the ICO. As you can see in Scam Accusations (https://bitcointalk.org/index.php?board=83.0) section there are a lot of scam ICO project but almost them only detected till the end of ICO.

Very good idea. But I think it would have bad realisation for free

has anyone heard anything about Kairo's? they distributed tokens, but they deleted all the social pages and they are not on any exchange markets.. and bitcointalk thread was also closed..