Monetize ICO a scam?

[mikeey89]

I have heard about a lot of people investing in Monetize ICO, so I decided to research it myself an D see if I wanted to invest too. When I researched a found a lot of things that made my alarm signals go crazy.

Here's a quote from their webpage and whitepaper:

"Get in early on the Monetize Coin Token Sale with only 500,000 MNZ Tokens available at the discounted pre-ICO price of $0.35 and a realistic target value of $10 by February, this is the easiest way to 30x your investment."

The pre-ICO sale has a minimum purchase of 100 and limited to 300 MNZ tokens per user per day (smart way to stop people from investing too much, and in return, loosing too much, causing less of an outrage)
The Monetize platform uses the Monetize Bot to generate a monthly return for investors.
Monetize Bot $1000-$5000 - upto 40% monthly - Capital Return 179 Days +0.10% Daily Bonus
This affiliate program structure: https://i.imgur.com/AHRV8U2.png
And the grand finale:

Another alarm signal is that it's not possible to find any information about the team anywhere. Here's what Monetize says about it:
"We would love to show you the business behind Monetize Coin, we are very proud of our technology and what we have achieved, while we believe it is a legitimate and fascinating way for a company to raise money from investors the world over, the legality of the ICO funding model is still untested. The Monetize Team feel that cryptocurrencies should remain anonymous and free from the regulation of any one central government."

To conclude:
- No information about the team
- Promise 30 x profits (too good to be true, and even not legal?)

Be careful about investing in ICO's with promises of big profits and with no team published. This is two of the biggest alarm signals you can find when researching ICO's. So please be careful!

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[Angelia46]

So this just means that this ICO is a hoax.
No ICO would promise a return, and if so, it would be a hoax.
Although there is a certain bubble in the current ICO market, I think this does not mean that ICO is all a fraud.

[mikeey89]

Yes, I am pretty sure it is. Hopefully this post helps other people realize the same and prevent them from buying into this ICO. I don't like when people scam other people.

[posi]

So this just means that this ICO is a hoax.
No ICO would promise a return, and if so, it would be a hoax
Although there is a certain bubble in the current ICO market, I think this does not mean that ICO is all a fraud.

Yes, not, all ICO are fraud and not all ICO that promise good return are deceitful either. This is why it important to always study the White paper of an ICO before jumping into conclusion.

[AiwonOleh]

As for me, such signals are not very good, and so I would advise you to choose the best ISO in which you invest, because it may just be crooks who will steal your money.

[mikeey89]

It is so sad when a small percentage of ICO's is ruining the reputation of the ICO system and the cryptocurrency market. It's like putting gas on a fire for the governments regulations and banning threats.

[darknethyip]

On telegram channel investors who ask for the makers of monetize are blocked.

The telegram gnoms named "admins" and "moderators" block each of the critical questions poses. There is no advertising for Monetize made by Monetize itself - the coin is not advertised by the company but only by investors via the affiliate links.

The statement that "the price will rise to $ 10 after the ICO" remains a lie - the coin went down to $ 8 in the short term and has since fallen with good results, in the moment it is down at $ 3.06.

Here you can clearly see how the ponzi system works - no new investments, the price drops and the investors lose money.

If you have invested, I can only advise now to sell and get out before blocking the payment of the BTC & ETH for any wrong reason.

[@ngelcryptopia]

Thanks for highlighting this, you may want to share it in the scam section too.
All the promises of high returns without any fundamentals are definitely red flags. One should not blindly follow the crowd as you might lose your hard earned money.