How to detect a scam ICO?

[jlp]

How to detect a scam ICO?

I think ,there's no specific way to know if the campaign is a scam or not. Joining campaign is also like investing, there'll be times that you will earn nothing. But you may alsp look for factors such as checking and searching about the ICO. You may also consider checking the background of the ICO team. I don't know if this one is effective but I also prefer some campaign managers espexially those who has lots of experiences on managing campaigns.

It's EASY to detect most of the shit or scams, and most of the ICOs are shit or scams.

You only need to do about 5 minutes of research and you will find major problems with most of the ICOs.

Most of the ICOs have built nothing that you can use today. That is a major flag. This means that they cannot prove that they can build anything.

Several project have raised millions of dollars and still have not built anything, despite their 10 member teams and fancy videos. This number will explode in the coming years.

[kassia]

This is not that easy but possible. Does anybody bought ReCoin?
Here is more about how they lied about 4-5M raised while in fact it was about 300K https://t.me/yoken/21

[Coldsnap4457]

This is not that easy but possible. Does anybody bought ReCoin?
Here is more about how they lied about 4-5M raised while in fact it was about 300K https://t.me/yoken/21

It's probably likely that many projects lie about how much they've sold, especially in the first few days, in order to create FOMO (fear of missing out) and fake hype/popularity.

[donotlean]

These days all ICO's become scams.i think the last succesful and popular ICO is monetha's maybe centra's(there was so many problem during the ICO).these days most ICO's dont hardcapped.i invest DOVU its the best project of autumn but its collected few.i strongly suggest to look it

[ValhallaCoin]

It's funny a LOT of people who are doing ICOs are posting articles and blogs about scams.

They then write a list of things only legitimate ICOs do.....and no surprise they narrowly define everything to just suit them and no-one else.

Really silly. So they imply every one is a scammer except them.

[CaptainKid]

This forum has a lot of information on this topic! If you study well the advice and comments, and also have useful websites, then you can find out where the scammers are, and where they are not. But you need to spend a lot of time on this!

[Forward_Thinking]

My way, search for the team in google. Check their linked in/twitter profile to know whether they are really linked to the project or are just stolen photos.

I agree with this advice. I would check the people out. I've found a lot of these profiles are fake.

[CyNotes]

How to detect a scam ICO?

If the team don't want to be published their name, social media and etc. The legit and trusted ICO have the escrow to monitor the ICO development. Join in the ICO with the reputable manager like YAHOO, NEEDMONEY, SYLON, AVIRUNES. They are responsible in the campaign and they also active escrow. They'll update the news about the ICO on going, activities and the date start of ICO.

[Forward_Thinking]

You should always look up all of the members on the team and see if they really exist and have the experience they claim they have.  I always avoid ICO's with an anonymous team since it's just too risky even though it's not necessarily means it's a scam. 

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Sometimes you'll see names with linkedin profiles, just check how long the linkedin profiles are active, how many connections that person has and cross checking with google helps a lot

That's a half decent approach but don't forget that all kinds of accounts get hacked or sold so you're trusting a lot.

Good point and yet, many of these scammers still don't have the ability to look like real people to me.

[Forward_Thinking]

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

That is all correct. In addition to it, you try to check their wallet addresses and their transactions. There are several projects here that were caught having some dumping transactions using the wallet addresses that are also used in receiving ICO contributions.

I know this reply is over a month old, but what do you mean? They were caught dumping - do you mean while the ICO was going on?

[Rana590]

I think you can check their website and social media for more information. Know about their project and team also. Good ico generally use block chain. Read their white paper and all necessary documents to find real investment ico.

[Manuj]

How to detect a scam ICO?

It is a bit awkward to give tips to a Sr. Member when I am still a Full Member. But here's what I do. I go to their ANN thread first and check the details as well as on how responsive they are. I then go to their website to check everything there especially the team and partner companies. I then read their whitepaper to look at the details on how they plan to make the project into reality. The roadmap and coin details are also very important to look at. 

[Remainder]

For me it is hard to detect it for the first place, it can be detected when it is in the middle or in the end of the ICO, maybe in lack of information or details of their sales or no response from the team, or they just run away. My strategy for investing on ICOs is to see it first if their support is very interactive and they have the list of the team behind the project, whitepaper, roadmap and when it hit their market cap because it is sure win.

[PeterKh]

I look for terms and conditions. If there is none, that a big point of concern. If the T&C are available, I look to see what it is that the issuer contractually undertakes to do.

[Forbiddenone]

Certainly first check for team member and their advisor.search them on net.sometime scam ico often take photographs from internet and randomly select advisor.there is no harm to check before investing.now majority of all ico take kyc ,it is also a factor.you can check their address and search them if their company is registered or not.always check their bitcointalk profile bcz there many scam buster people  here so you will automatically get to know.

[dsaijz03]

Do some background check if they really exist. Check there team if they are true,the company,ico and the campaign.

[bribed]

There is this thread explaining some ICO filters that everyone should be applying in my opinion before buying into an ICO. These guidelines really help to detect a scam. I will link the thread here.: https://bitcointalk.org/index.php?topic=2243157.0 Definitely recommended to read this thread! Not only for newbies to ICO investing, everybody can learn something new!

[Oo ako to]

It's hard but there are signs that could help you. The first one is the manager of the ICO has red trust. The second one is their thread or website is too crappy. I don't know if this helps but once I see I word that is mispelled then I stay away.

[UnlimitedMoneymaker]

If you mean the real scammers who want to take your money and run. Then just watch thier site, team and whitepaper. If you have some experience than you can figure it out quick. But for advanced scammers it is near to impossible to catch them because the main idea of ICO is trust. And this kind of trust is really high risk.

[jems]

This is not that easy but possible. Does anybody bought ReCoin?
Here is more about how they lied about 4-5M raised while in fact it was about 300K https://t.me/yoken/21

It's probably likely that many projects lie about how much they've sold, especially in the first few days, in order to create FOMO (fear of missing out) and fake hype/popularity.

One sign of ICO scam is the inaccessible website, and they are not honest with the token sales achievement.
It is difficult to distinguish a good ICO or a scam. You should read some white papers and make sure the Team is professional.