ICO scam!!

[serguvan]

@serguvan
I went through your article. Really need to be careful out there.
Thanks for sharing mate!

You are welcome mate. As you see, they did invest $500,000 in marketing to SCAM people. So we must think twice and research deeply before investing in any ICO.

[pooque]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to put invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts. 

If you have done your part which is researching before you invest to any of these ICOs,im sure you would be well informed what would be the possible outcome if you invest to the ICO,if your researching has some positive outcome your money will surely return with some gains,but if you are foolish enough to invest without proper research you could ended up investing to these scam projects that will runaway after they have gathered enough money from these fool investors.

[wumBowo]

yes there's still a chance, but if you did all the things you stated, it will give a lower chance for you to got scammed from an ICO.

[Tony116]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to put invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts.  

You should not underestimate the power of human's (founders') greed. I believe that the most projects turn out to be scam exactly because of greed and the absence of conscience.

[vova_angel]

As stated, there are many ways to scam people during ICO period. Some scammers look very professional that you see their project as investible. They actually market their scam ICO very well to make you invest in it.

Let me share with you an article that explains one of the most recent scam projects, Benebit and how they scam their investors.

https://medium.com/@Descrow/the-organizers-of-the-scam-project-benebit-have-disappeared-with-2-7-mln-ba0ef4fb440b

I had joined their bounty campaign to promote their project, and guess what? I got nothing!

 
                                      DESCROW platform testing
Dear colleagues and friends! We are asking you to help us to test the decentralized escrow platform DESCROW!
This is an infrastructure project that changes investing principles completely in the world of cryptoeconomics and blockhain technology!
Descrow is a new-style of international crowdfunding platform with a decentralized escrow function and a set of tools for safe investing in ICO based on blockchain technology.
Our website: descrow.com
Our chat (eng): t.me/descrow_eng

https://goo.gl/forms/C6N69nPyFuFWGubj1

[deviltasha]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to put invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts. 

I found one good page, icoguide.com, they have good reviews. As I understand the platform is newly launched and they have no reviews of many ICOs, but the evaluation is quite good.

[Herdirfauzi]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to put invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts. 

I think to invest in a project or ICO, you should do some research, check on each, icoholder, icobench, news about the project, their team and check on linkedin.

[skip60]

there is a site KICKICO

if you join ICO s which are on www.kickico.com, there is no way you can put money into scam ICO's

they also have a coin kick which is a promising investment  

[Jaemouns]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts.  

We cant detect if the ICO was scam or not but if we joined the ICO compaign most of scammers locate on the telegram.I would say that because after you joined the telegram there was a person pm you and they like to invest you.This is the sign that they scammed on us so avoid it and try to point out if you invested was real or scam.

[Britanshio]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts.  

We cant detect if the ICO was scam or not but if we joined the ICO compaign most of scammers locate on the telegram.I would say that because after you joined the telegram there was a person pm you and they like to invest you.This is the sign that they scammed on us so avoid it and try to point out if you invested was real or scam.

I will agree with you.Theres a lot of scammer in telegram sites its because they have a way to personal message on you.I've experienced that one but I've focused on the admin and not who directly pm me.In this situation we should be careful and keep up alert always.

[charlie137]

you shouldn't invest money you not ready to lose. think about why ICO exists and why not to just put coin/token on the exchange. why developer setting price for you?

[Maestro75]

The word scam is thrown around too fast around here.

As far as what can be considered a straight up scam, those are actually pretty rare and easy to spot.
These are the kind where everything is fake, the team, the company, the website.
Nothing of it exists and the after the ico they disapear and run away with your money.
If you do even a simple amount of research, you can quickly see if it is a completely fake company or not.

What most people nowadays call scams, are really just failed business ventures and startups.
What is more common is that a startup raises funds through an ICO, and the business goes nowhere, and the value of the coin or token drops below ICO price and stays there.
The most common reason why ICO startups fail is because of an incompetent tech team.
A lot of these companies gain no benefit having blockchain and they can't even implement it well.
No progress is made and the whole thing just dies.

You have to realize, that tokens and coins are not stocks in the company, if they have no real use then the value will fall.

I quite agree with you to some extent. However, there are projects which are intentionally dumped in the market by the devs. How do we explain the case of Swisscoin (SIC) whose total supply was increased few days after it came to coinexchange as the devs pushed more coins into the market. That act was a pure scam and many holders quickly sold off causing price to dip greatly.

[rickadone]

As stated, there are many ways to scam people during ICO period. Some scammers look very professional that you see their project as investible. They actually market their scam ICO very well to make you invest in it.

Let me share with you an article that explains one of the most recent scam projects, Benebit and how they scam their investors.

https://medium.com/@Descrow/the-organizers-of-the-scam-project-benebit-have-disappeared-with-2-7-mln-ba0ef4fb440b

I had joined their bounty campaign to promote their project, and guess what? I got nothing!

It is normal because some of them are professional scammers and they take their time like they are in for the real business knowing it is for a good cause for their pocket. Most times, the only way to know is to find about their team.

It is not about a graphically well designed website, or a colorful and well written ICO or some github codes, the team definitely is just the best bet to be sure. You cannot have a team that has worked on several projects in the past outside cryptocurrency or probably have some relative experience with some top companies and a good position over the years, to spoil his or her name over scam.

Once you are sure this is a team you can assuredly leave your funds in their care, then that is when you can go find out about the project and analyze it yourself to see if it is something that can work before you invest.

[D-Fault]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts.  

The easiest way - they got your money and disappear with them.
Or they lock your tokens telling you can use them only after the ICO and that you have to wait and be patient. And then they're just relaxing at some sunny island when you're waiting like a fool for a letter.

[blazingshockwave]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts.  

Even if they have all the white paper, github, source code etc. you still prone to scam because scammers are also upgrading their strategy. What you need to look for is the team behind the project because the project or white paper will not scam you but the person behind the project will. Check  if this guys are real person or just a dummy names and copy paste images. If this are real person,verify their credibility and check if they have a history of past scam project.

[Herdirfauzi]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts.  

We cant detect if the ICO was scam or not but if we joined the ICO compaign most of scammers locate on the telegram.I would say that because after you joined the telegram there was a person pm you and they like to invest you.This is the sign that they scammed on us so avoid it and try to point out if you invested was real or scam.

I will agree with you.Theres a lot of scammer in telegram sites its because they have a way to personal message on you.I've experienced that one but I've focused on the admin and not who directly pm me.In this situation we should be careful and keep up alert always.

very good action, they usually offer a profit and get you to invest immediately, in addition to a known person, maybe we move away if he offers an investment with empty clarity

[alxarroyoo]

if the people actually got their coins so there us no scam.

but lot's of projects disappear after they raise ICO. if you git your coins it's your business deciding when to cash it out.

[jan.nicolas]

I do not think that ICO is still SCAM. Because now there are so many projects on CoinmarketCap and I can tell that of the 4 ICO companies in which I participated only 1 was SCAM. Here is a statistic only for me

[laluna24]

How do people actually get scammed after an ICO sale? Let's say i've gone through the company's website, whitepapers and github source codes. I have decided to invest for some of their tokens. Is there a way i scammed after all this? Share your thoughts.  

Even if they have all the white paper, github, source code etc. you still prone to scam because scammers are also upgrading their strategy. What you need to look for is the team behind the project because the project or white paper will not scam you but the person behind the project will. Check  if this guys are real person or just a dummy names and copy paste images. If this are real person,verify their credibility and check if they have a history of past scam project.

You are absolutely right even the team shows their goal to improve the project after the Ico we will know the truth behind it. Yes the team's seriousness to provide the requirement in order the Ico to be successful. This is really helpful to us to investigate every project just to get rid of scam's Ico.

[PleaseSignTheMessage]

I believe there are many people creating CON COINS constantly in this forum and some how they have a team of a large numer of boys, shit posting and making advertise of it.