Promoting ICO scams

[Kodok Bencot]

It's saddening but that's the order of the day everyone is in it for the money if we're being honest given money is made those that should carry out some sort of research never does.

true it is very sad they are willing to be paid to promote ICO Scam, we know that the ICO rating is currently very low, but it is not possible that ICO can return as good as before with high security regulations for investor funds

ICO rating is a scam because of so many fake ratings. The regulation will not be the best way to reviving the ico. Investors have already lost their trust to the ico and this is true. That rating creator must be based on the community's vote and not only based on how much paid by scam ico to create a fake rating. To give back the investor's trust is a very difficult task to do.

Yeah right, there are no clear rules of ICO rating, they will give high ratings as long as participants can pay, and the biggest factor that makes crypto lose customers is the factor of ICO rating.

[Drai]

If you take a close look at any major social media site, you will see that most of them would take money to advertise almost anything as. Long as that thing is not illegal, even social giants like Facebook do it. Nobody really knows a scam project until it actually exits, even some projects with verified teams has done it in the past and this doesn't guarantee that when any sort of verification that CMC might carry out in the team of the project they wanna advertise would actually stop them from scamming if that is their intent, we should cut them some slack.

[LouVandetta]

It's all because of money, they paid it so it's all good for both sides.
Regardless whether the website is a popular one or not, thing is we can't really avoid seeing a scammed project being advertised.
It's up to us how to protect ourselves from those ads, do not believe things easily.

[Google+]

It's all because of money, they paid it so it's all good for both sides.
Regardless whether the website is a popular one or not, thing is we can't really avoid seeing a scammed project being advertised.
It's up to us how to protect ourselves from those ads, do not believe things easily.

indeed, it is all because of money but I think that those who often promote ICO should be careful when giving information to investors, but I also sometimes this is not the fault of the promoters, sometimes this is the fault of the ICO team that has made mistakes because it provides fraud against investors and against promoters who make a lot of losses in the cryptocurrency environment.

[Sithara007]

I don't know how you can blame coinmarketcap for any of this. In most of the cases, when an ICO is ongoing you don't know whether it is a genuine project or a scam. I don't think they will go ahead with the advertisement contract, if they know that a particular project is having doubtful credentials. But at the same time, coinmarketcap is a business venture and they need advertisement to survive. It is not very practical for them to impose a blanket ban on the advertisement offers from all the ICOs, because a large part of their revenue comes from that domain.

[cryptoloverlife]

It's saddening but that's the order of the day everyone is in it for the money if we're being honest given money is made those that should carry out some sort of research never does.

true it is very sad they are willing to be paid to promote ICO Scam, we know that the ICO rating is currently very low, but it is not possible that ICO can return as good as before with high security regulations for investor funds

ICO rating is a scam because of so many fake ratings. The regulation will not be the best way to reviving the ico. Investors have already lost their trust to the ico and this is true. That rating creator must be based on the community's vote and not only based on how much paid by scam ico to create a fake rating. To give back the investor's trust is a very difficult task to do.

Yeah right, there are no clear rules of ICO rating, they will give high ratings as long as participants can pay, and the biggest factor that makes crypto lose customers is the factor of ICO rating.

You are right because sometimes nobody doesn't know whether we are promoting fake ICO or not until we see their nature. Sometimes it is impossible for us to justify the company because their activity seems to be very interesting and this makes many people start promoting the bounty.

[EdvinZ]

Indeed, it is a big problem that fraudulent projects are advertised on social networks and other reputable Internet resources. But it should be noted that fraud is detected after ICO, at the stage of implementation of a roadmap. Therefore, there is actually nothing to blame advertising platforms, because there are no criteria by which it is possible to reliably determine a fraudulent project or not at ICO stage.

[jessyj48]

Don't mix things up, CMC is not a crypto analysis so they can't tell you if a project is legit or not, their existence is to give records of the whole crypto market cap and info on each particular coins or tokens and their trading volumes too

[Sithara007]

Don't mix things up, CMC is not a crypto analysis so they can't tell you if a project is legit or not, their existence is to give records of the whole crypto market cap and info on each particular coins or tokens and their trading volumes too

Agreed 100% here. Coinmarketcap doesn't give any guarantee for the genuineness of a project. And it is the responsibility of the investor to research about the project before he invests in it. See the irony here. If an individual profits from a particular ICO, then he will never give credit to anyone else. On the other hand, if he ends up in a loss then he'll be quick to blame everyone around him.

Unless it is proven that a project is fake, coinmarketcap can't refuse advertisements form them. And even if they ban such ICO adverts, they will find other websites and blogs to advertise them. And I don't know why the OP singles out coinmarketcap, when we can find similar advertisements in ICO review sites such as icobench, icorating and icohotlist.

[Jorge158]

To be fair, even big companies like Google or Facebook have advertised a lot of scams. So in an open space like the internet, the best way to protect yourself is to learn, instead of relying on external factors.

Quite True.
The big reality is that everyone is talking about reducing scam and fighting it but those who rules the web with big activities do not really care or put into effect all the talks they about.
Coin Markets Cap won't deny they don't know that some of those ICOs ad listed on their sites are scams, so far they can pay them, the ads will be up in no time. Another thing is that, some investor usually believe that once an ICO is listed in a CMC, it means legit; this is absolutely wrong.

Very true. These big platforms like Facebook, Google, CoinMarketCap etc in one way or another have promoted scam projects before. The point is that once the projects are able to pay for their advertisement, the banner will be hosted on the platform. The best way for investors to save themselves is to perform personal researches on the projects before investing.

[stephanirain]

Going back to 2017 scam ICO launchings, one thing for sure, sites like Coin Market Cap have played a very big role in promoting those scams. Yes they did it because they want money but one thing they should realize that this thing would lead to distrust of new people in crypto which would ultimately also close their shop as well.

Coin Market Cap takes a huge amount of money from those scammers.
When i contacted CMC, i got this email.
Hi, and thanks for reaching out! Our pricing is based on impressions:
 
Desktop Formats:
·      Top Banner (728x90)  - $14.00 per 1000 impressions
·      Side Banner (160x600) - $8.00 per 1000 impressions
·      Bottom Banner (728x90) - $4.00 per 1000 impressions
Mobile Formats:
·      Top Banner (320x100) - $8.00 per 1000 impressions
·      Mid Page Banner (300x250) - $6.00 per 1000 impressions [Coin Detail Pages only]
·      Bottom Banner (320x100) - $4.00 per 1000 impressions [Coin Detail Pages only]
May promotion:  10% bonus impressions for orders of $25k or more


If these sites just go for some verification before promoting these scams, it would be very good for the visitors. Verification can include Mobile verification, Identity verification etc. These sites are an open image of crypto, if these sites just reduce their earned money by a bit and plan for long term then it would be beneficial for all of us.

Scam or not, it is business as usual in ranking sites like coin market cap. It's not that they only care about money, they are just indiscriminate in with their customers. That is why it is imporant to look for different sources and compare for you to determine the best plan to be laid whenever you trade. Nevertheless, this behavior of these sites has made it possible for new coins to thrive and add flavor and variety for the cryptomarket.

[Pinkris128]

Going back to 2017 scam ICO launchings, one thing for sure, sites like Coin Market Cap have played a very big role in promoting those scams. Yes they did it because they want money but one thing they should realize that this thing would lead to distrust of new people in crypto which would ultimately also close their shop as well.

Coin Market Cap takes a huge amount of money from those scammers.
When i contacted CMC, i got this email.
Hi, and thanks for reaching out! Our pricing is based on impressions:
 
Desktop Formats:
·      Top Banner (728x90)  - $14.00 per 1000 impressions
·      Side Banner (160x600) - $8.00 per 1000 impressions
·      Bottom Banner (728x90) - $4.00 per 1000 impressions
Mobile Formats:
·      Top Banner (320x100) - $8.00 per 1000 impressions
·      Mid Page Banner (300x250) - $6.00 per 1000 impressions [Coin Detail Pages only]
·      Bottom Banner (320x100) - $4.00 per 1000 impressions [Coin Detail Pages only]
May promotion:  10% bonus impressions for orders of $25k or more


If these sites just go for some verification before promoting these scams, it would be very good for the visitors. Verification can include Mobile verification, Identity verification etc. These sites are an open image of crypto, if these sites just reduce their earned money by a bit and plan for long term then it would be beneficial for all of us.

Even with the owners and dev of projects, there almost no KYC or validation to determine if the project is legit or not. Sites like CMC do not bother to do any KYC because it will just add up to their expenses and time, making the price of service go up also. They might be look like cheap but that's how most businesses right now roll in the market. What important is that now we are aware that not everything we saw in the monitor, are true and subject to fact check.

[desticy]

I don't think it's CMC's fault to promote scam projects but scammers who use the CMC website as a place to promote their scam projects. I think it's not just CMC, there are many websites that promote scam projects. And now many telegram channels/groups are starting to promote scam projects by using a fake account

I don’t think that the center can somehow affect the placement of scam projects in its rating,
because if the project is traded and passes according to certain criteria, such as placing on several exchanges and a certain trading volume, then it is almost impossible to determine that it is scam.

The CMC provides statistics and nothing more, it does not advertise any projects other than those that they themselves buy advertising on the resource.
Therefore, it says that the CMC advertises scam somewhat recklessly. Rather, the scanners are lucky that their projects manage to qualify for the ratings.

[Omega Weapon]

If these sites just go for some verification before promoting these scams, it would be very good for the visitors. Verification can include Mobile verification, Identity verification etc. These sites are an open image of crypto, if these sites just reduce their earned money by a bit and plan for long term then it would be beneficial for all of us.

That is never going to happen, you are basically asking a business to take less money in order to try to protect people from which they get no money, it is obvious they are never going to do that, those websites sustain themselves from the money they generate from projects and exchanges that want to promote themselves on their websites, and the only thing that they need to do to avoid any kind of responsibility is to tell you that you are investing at your own risk and that they are not actively promoting those projects.

[TheICE007]

This would really be disheartening if truly coinmarketcap does not carry out research before listing, it will jeopardize the cryptocurrency industry because once a token is seen in coinmarketcap it is believed to be legitimate. I just hope researches are carried out with those wanting to list their projects knowing. It shouldn't just be all about the money

[Oneandpure]

Going back to 2017 scam ICO launchings, one thing for sure, sites like Coin Market Cap have played a very big role in promoting those scams. Yes they did it because they want money but one thing they should realize that this thing would lead to distrust of new people in crypto which would ultimately also close their shop as well.

Coin Market Cap takes a huge amount of money from those scammers.
When i contacted CMC, i got this email.
Hi, and thanks for reaching out! Our pricing is based on impressions:
 
Desktop Formats:
·      Top Banner (728x90)  - $14.00 per 1000 impressions
·      Side Banner (160x600) - $8.00 per 1000 impressions
·      Bottom Banner (728x90) - $4.00 per 1000 impressions
Mobile Formats:
·      Top Banner (320x100) - $8.00 per 1000 impressions
·      Mid Page Banner (300x250) - $6.00 per 1000 impressions [Coin Detail Pages only]
·      Bottom Banner (320x100) - $4.00 per 1000 impressions [Coin Detail Pages only]
May promotion:  10% bonus impressions for orders of $25k or more


If these sites just go for some verification before promoting these scams, it would be very good for the visitors. Verification can include Mobile verification, Identity verification etc. These sites are an open image of crypto, if these sites just reduce their earned money by a bit and plan for long term then it would be beneficial for all of us.

If you know CMC promote with scam ICO just resign your investing with ICO, you can choose other legit ICO for investing and have good price after listing on exchange market, you can help your friend or other investor to give advice about scam ICO have promoted by coinmarketcap, why not give image and source link about scam promoting ICO by coinmarketcap for make people trust with your opinion.

[beerlover]

I think they are not really making any effort into research but they are not making money from them neither, it is really small because in the end there are tons of websites that promotes ICO's so that means ICO's have to pay all of them at the same time in order to not miss out on marketing which drops the price for many of the websites. Sure, you can get bigger and get a bigger piece of the pie but that doesn't mean the smaller ones are not eating of your profits small by small.

Hence, I would highly suggest people to not really go into these websites since they worth almost nothing , the reality is they are just sleezy marketing people selling you 50 dollars pants they got for 5 dollars like all the retail stores do, don't believe in the pitch, check the product yourself.

[FaithInCrypto]

CMC is a business so we don't have control over who they want to advertise. For me nowadays, any business would also promote false information if the price is right. Everything runs just for money. There are very few people or business who stands what is right though. Also, CMC might have researched about them, it is just that they don't have the hands of God to foresee the future.

[jessyj48]

Coins that are listed on coinmarketcap are not all legit, its not a way of knowing good projects or bad projects, you have to do your own research and pick projects based on how useful they are, some few projects are not even listed on cmc yet and they are good projects