Bitcoin Forum

We know so many scam ICO exposed with fake team lately. Just across my mind from defence of scammers. Few scammers defending on scam accusation that some ICO never used team. Also we are not exposing them who have no team on website.
Let me give answer who is like to defend fake team. To be honest Fake team is more dangerous from no team. Because no team already exposed themselves. Investors are able to see there is no team. I will not surprised if they scamed. Because investors known where they are going to invest. So we don't need to exposed ICO with no team as well.

For fake team, they will scamed and divert accusation to others. Becasue they already stolen picture and identity of others innocent people's. So this is a big crime. Investors are not aware about them that they are going to scamed. Because they will see there is a team. If investors  mistakely visit their ANN Thread than he will find great team, nice team, experienced team, potential team many more. That's why we need to exposed scam ICO's with fake team.

I'm surprised if there is really a member who defend an ICO with a fake team. Sometimes I think they're paid by those scammers too.

Using a fake team is not only dangerous for potential investors but can also spoil others reputation. They're literally using other photo/identity and make other people think that the ICO is backed by some great people. What happens if there's an exit scam? Like it or not, the real person will likely get questioned. Unless s/he can defend themselves, it's quite probable that they'll be considered a scammer too.

I actually think that fake team is more or less like there is no real team behind the ICO, as it is impossible to sue them unless we can get their real identity which is also quite hard to do or even impossible (when they're using stock photos).

Interesting post, here is what we think:

People get paid to defend those scammers all the time. We have many examples in this forum. here we have an example of a looooong response. Will not waste time reading that. https://bitcointalk.org/index.php?topic=4985965.0 (post #7)


If an investor is dumb enough to invest on an ICO without a team, or a team with images of cartoons characters without a link to a real person, it is their problem.

If an investor is a victim of an ICO that used a fake team, such as stealing people's image or stock photo,  justice should be made. Investors are responsible for their investment, and they must do a minimal search before investing. ANything we post on the scam section will almost immediately appear on Google search.

We usually say that:  an  ICO without a Team is a scam
                               an  ICO with fake images (Stock photos)of a team is BIG SCAM
                               an ICO stealing people's identity (name and or images) it is a HUGE SCAM and a CRIME.

up for visibility

ICOs without team and ICO with fake team are both SCAM to me and should I come across anyone defending an obvious scam on this platform, I'm giving such account a negative trust, as their action is that of deceit and fraudulent.

Even some icos with real team members have put the investors money in danger, envion is a prime example, it was a huge ico that was able to raise 100 million in there ico and now after more than 10 months the team members are fighting with each others like kids putting the investors money at risk, i hope they will overcome the situation and resume the project or the authorities should punish them if project does not resume in next 2 months.

Both are really bad for any ico and will result to nothing but scam. To have a fake team is also the same as having no team at all.

I think fake team is terrible

It is a theft of an individual personal profile which endangers the other party
If such bounty programs are found
They need to be sent to jail for impersonation and sly

Both scenarios are really bad and the best thing to do is to avoid them at all cost, the team is the heart of the ICO project so if they fail in that aspect who knows what could happen later.

This is the reason why i don't invest my own coins into an ICO unless their team passes the KYC verification process. Preferable with some type of media presence to prove that the team is real. This at least gives the project a chance to succeed, but even that is not guaranteed

i will not ever invest in a project without team on their website, it is the main what any project must have because every time when we invest in any project first of all we invest in people who are standing behind it. And also i like when project has experienced and trusted advisors on board, not scam advisors as already well known persons... And yes we must find a confirmations that the team is real, especially if we decided to enter the project on the early stage(seed/private/pre-sale) round.

I see no difference between a fake team and a no team. What is the essence of having a team but with the intention of scamming their investors. It's just as good as having no team.

i can understand that a team decides to not expose themselves, main thing is that promises are being held and development is real. i'd rather have a non exposed team that a fake team of 20+ people with fake names, fake fb and fake linkedin accounts...
as long as the team does their job i dont mind that their not giving themselves away to everyone in early stages of a project..

Investing in ICO itself is risk in my opinion. You should be very carefull while investing your hard earned money. In my opinion invest money in a good ICO where everything is transparent to the investors. Don't ever invest money in an ICO where the team profiles are fake or doesn't have team profiles.

The team in charge of an ICO is almost as important as the ICO or project itself. When the team is shady or not transparent enough, there is a high chance that the project will be managed by a scammer and it will eventually fail.I think ICO teams should be more transparent and they should communicate with their community a lot because this builds trust which then eventually have a ripple effect on the community.
Leave non stone unturned when making research it is very important

A lot of crypto project has created by even a single person that can be fully operated such as byteball, and many more. Fake team is more dangerous compared with the crypto project that created by a single person. Fake team means the scammers has an intention to fool us.
It looks a bit difficult to expose the scammer that has used the stolen identity.

About that the transparency of the team in ICO is needed, i think is not that much important then of using fake teams to promote the ICO. Bitcoin users still dont know who is the sathosi but still the project was genuinely created and did not used fake teams, this is the reason why this coin got success.

Keeping secrecy of the team is different until the project is genuine and the developer are delivering a good project without using fake team to promote their project.

Both, fake team and no team are same bad  thing and undermining the reputation of crytpo.
Nobody should support such ICOs. 
Newbies who are not experienced enough to make research on team can be easily scammed that way.

Believe me, it would really be nice if a way is carved out to recognise fake team right away at the point of investing rather than having to realise later when things have already gone out of hand. It is a actually disheartening that some wicked souls are making us have setbacks and pitfalls in the cryptoworld cos so many have fallen victims of scams and crappy icos. I can say one of the reasons we have found ourselves in this great mess we are at the moment. I really hope, exposing these fools is rightly possible. This will go a long way in helping us in this community.

That just makes me confused too, maybe it's better not to have an ICO if it continues.
Better with a more fresh system, better than ICO but unfortunately I have no idea for that. LOL

The scams, and the rampant happenings of this fake ICO is due to the massive increase and acceptance of coins and tokens, and it leads to the scammers to create ICO in order to collect money from the investors, talking about team members, yes i observe this lately that there are some identity theft happenings, as a bounty hunter and an investor, we must be careful enough to this things. Money is hard to earned, so take due diligence.

This situation is no different for a project, it is a scam for investors, so we need to stay away from such scams and identify whether a project is true. Very important.

I don't recommend to invest in ICO with fake team or no team if you don't want to loose your money. There are many ICOs with well-known people in teams and advisors so don't risk with your money.

Both fake team and no team ICO only leverage money from investors which is not a healthy sign for cryptocurrency. We cannot avoid this kind of scams but we can minimize the chance of getting involved in this scams by thoroughly studying each projects and platforms.