How to detect a scam ICO?

[coingrow]

Firstly look at the team. And ask yourself these questions- are they legit, what is their experience, do they communicate with the community. Secondly, look at the the whitepaper and ask this ques- how much time was put into making it and does the idea solves any real life problem or not. Lastly, is there a hardcap or the team wants to rip everyone of their money?

[CTO@MyBitMine]

First of all it is necessary to check communications with advizor — at them the reputation costs money and therefore it isn't necessary to be lazy to write and call to confirm/deny information on the project where they participate. Further legal entity: registration, location, if it is about preICO that it is possible even to check the postal address sending the welcome letter on paper. Just two simple actions.

[aoihs00]

You need to study the team, algorithms, project roadmap and most importantly see opinions from others. If it's a really good project then there will not be any dissent

Surely this one and on top of that you should consider the news also. They are the main sources which will provide you time to time updates for the same. There is also social network which you should follow. Check time to time whether they give the updates about their projects and make you comfortable from the updates. Meaning there should be all the positive news about the project and everything must be working according to the roadmap plan. If they are giving reasons and pulling out strings then that's not good one. Furthermore you can checkout the strength of their marketing on this forum, I mean if everyone is talking about the same project then that's probably got big fish involved and you can trust on it.

[astrid.uchiha24]

no body can tell if an ICO is a scam but there are indications that make an ICO susceptible for scam like the background of the persons behind it, their official website which if dont look good and you can see no effort on making one, their roadmap and the whitepaper contents if its is just a copy of someone's ICO, the use of their coin and the product.

[drwhobox]

How to detect a scam ICO?

It's abit tricky to check if an ICO is a scam but a little bit easy.

1.Go and try to check thier whitepaper on what are thier aming for thier project
2.Analize thier team also if they are legit.
3.Check them out on social media.

I hope this helps.

[tanoe]

How to detect a scam ICO?

firstly, find out , Whether their products makes sense ? whether the team connected with social media and there are some experience in crypto ?
But , there is no guarantee is this can be used as reference or not ? , for some people , it helps

[Simss]

How to detect a scam ICO?

there are some things you can do to distinguish scam ICO and not. I usually look at their website and see all the information they provide. and after that I see the team and the community's response to the ICO.

[adsdas]

check team profile and advisor. contact to them to make sure they dont use fake indentify and put random advisor

[chaosfourever]

Not too possible. You just need to do your research. Look into the project, who is behind it, and updates. Also a strong community is key. Even then stuff can still happen, but its crypto and there is always some risk.

[Itjoker]

First of all read and study the whitpaper of ICO. Also you can do own research about history of the team, which behind the ICO.

[MaxenceH]

I would first look at the whitepaper and do some researches on it. Is it a viable project? Is the roadmap clear ? Do you think that the team has the capabilities to reach their goals? Does the project even make sense ?

[restumaulana]

I do not know how to remove ico scam, it seems to need strong power to report an ico scam, and the evidence also must be strong to report it, maybe if you have enough evidence you can report it in the scam section

[BernardoGomes]

The best you can do is to search/investigate about the project and see if it look credible.. and than close your eyes and trust the project founders

[Harrisonimo]

How to detect a scam ICO?

Well, sometimes it might be quite difficult to differentiate between a real ICO or a scam. You may not really be able to tell the motives of some persons behind the ICOs. A friend did say you can check with their whitepapers to read through and be able to tell if it is scam or not. But I should say that the integrity of the Directors/Managers matter too.

[mistercoin]

Most reply's here are quite correct. Before investing anything into any ICO or IPO or anything else that has no immediate benefit - always do your research. There are a few key factors that can tell you quite quickly if the person/people you are dealing with are con artists.

• Is the account new? If it is, be weary of it. They will tell you a lot of times that they made the account for the coin itself and that they are 'a senior member'. This is usually false.
• If there is a team listed, with photos, then do a google reverse image search on each individual. If you find the same picture elsewhere with a different name and different type of business, then you have a malicious ICO.
• Look at the person's previous posts. You can tell a great deal about someone by looking at their posting history and the way they treat others. While this may not be 100% related to the ICO itself, you can be sure that a person treating others poorly & often has a harsh way about them, I would be careful buying into that persons ICO.
• Last but not least, use your head. If something seems 'off' or amiss about the ICO, avoid it. It is better to not have invested and 'possibly' losing out, then it is to invest and find out a month later that the 'dev' ran off with your money

Those are but a fraction of what you should watch out for. If you are unsure, read the threads posts. 'Feel out' the vibes that people are giving off about the ICO. Lastly, never invest more than you are willing to lose. Even a solid ICO can turn out sour for reasons that can only be seen in hindsight (look at the first DAO, for example.).

--Mistercoin

[xmario]

You can do some researche. Start with the official website and see if it is done by professional. Then, read the white paper. The most important factor in the success of a project is the team, that is why you should visit their profiles and know more about them and see if they are reliable or no.
Many factors interfere in the success of a project so be careful.

Thanks for the advice!

[various]

Scam projects are usually based on the same ideas as other project ideas. They can not produce a different idea

[Herdirfauzi]

Firstly look at the team. And ask yourself these questions- are they legit, what is their experience, do they communicate with the community. Secondly, look at the the whitepaper and ask this ques- how much time was put into making it and does the idea solves any real life problem or not. Lastly, is there a hardcap or the team wants to rip everyone of their money?

from some of the statements you have mentioned above, I support and trust from some statements from you, have to see the experiences of the teams, see whitepapers and also see the hardcap project .. it is very helpful to be able to detect the fraud of a project.

[Syella.A]

i do not know how to see that ico is a scam. which I see based on their presentation when offering their projects. such as ANN thread, whitepaper. There we can see if ico is a scam or successful

[smsupto]

I think follow the ann thread all time carefully and also follow the official web site to detect a scam ICO.