What if your ICO idea and name was copied by scammers?

[Nikobitkoint54097]

Friends, we need your advice.
Our ICO seems to have a double with signs of a scammer.

We started to work under our project in the summer 2017. At that time we conducted a naming survey and there was no project with the same name or close. We chose Lendex.io and we've been working with it for more than six months already. As it seems from the name our project is related to lending, namely, it is a blockchain-based, cross-border, peer-2-peer lending platform that connects lenders with underbanked borrowers across a number of high-growth markets in Central and Southeast Asia.

Recently we got some inflow of people to our Telegram channel (of course at first we were happy) but they started to resent that we blocked their cryptocurrency! Knowing that we haven't even planned an exact date of pre-sale and haven't taken a cent from anybody we were shocked   and realized that we were confused with another ICO called Lendexcoin and that is likely a scam. We also found out that this company used our name and contacts several times and many users began to confuse us with them.

We are very sorry for the people who suffered from the actions of this company   . And we, as a team with several real projects in the financial sphere behind our shoulders, would not like to be associated with anything like that. Nevertheless, we would not like to change the name of our project, since we have already invested a lot of efforts in strengthening the brand: participated in many conferences, communicated with investors, funds, partners and potential clients who now know us as Lendex.

We also saw some other Scam Alerts about Lendexcoin and wrote our comments in several posts.

Could you advise us what else can we do to fight such scammers?

In the field of crypto currency,there are a lot of money!Therefore in this niche more and more scammers appear!I think you need to inform your members more often about the danger of fraud!That you need to go to your groups only on official links,well,be more careful!

I agree with you. The very important thing is to educate the audience. We've mentioned that not all potential crypto investors are well educated in the shpere, especially those who are engaged in profiteering. They are looking for quick revenues, invest inaccurately without conducting proper due diligence of the ICO project and as a concequence suffer from losses. So both sides are liable- both scammers and irresponsible investors.

Absolutely agree! I am in one of the communities where information on crypto currency comes! Today they threw the photo of the Phishing site Binance! In the link to the site scammers just added a couple of dots and spaces! Therefore, you must be very careful! And it's better to visit frequently used sites from your bookmarks!

[ahoenk]

If i am you i will sue them idea and name is digital properties and must be protected by law. Trys to contact them first and discuss about it with them if they still does not respon or the ico still going sue them by the digital properties law. If you have enough evidance you will win and they will pay you big money.

[iqlimasyadiqa]

You had some good advices to act against the scammers.

For the sake of your own project, the best thing would have been to change the name of your project. Problem is, I think, you already have a network under this name. So you have to inform your followers, first with a "bulletin" on all your social media that explain, shortly and clearly, the problem, and then, update them regularly with the actions you are taking against the scammers (the more actions you'll take, the more it will reinforce your credibility). And to reassure them, you also post regular updates on your own project.

This is a bad thing that happens to you, but it has brought you some unwanted followers. As the saying goes, there's no bad publicity. If those persons found the project presented by the scammers interesting, they might as well find yours interesting too. It is up to you to show your legitimity and win their trust.

Yep, for sure we got some "free" traffic, some of them are staying with us, because we have interesing business model and not only idea besides it, but also existing businesses and products and experienced team as well.

That is the thing you can get. actually you can also benefit from the incident, but of course we will get good results from a good way too.
an ICO is risky and should be able to get good trust from many people. Maintaining trust and attention of others is the initial capital that needs to be fought for.