how to identify ICO scam ?! some important tips !

[wuvdoll]

I think this link will add some information about identifying ICO scam now a days. This medium is about how to create ICO scam in crypto community, for me if you know how to do ICO scam, it's easy to understand how to avoid those upcoming scam ICO. Don't be a victim, educate and help yourself for good folks.

ICO Scams: How to create one in 5 simple steps
https://medium.com/coin-governance-system/how-to-create-an-ico-scam-in-5-simple-steps-67391ed8a822?gclid=EAIaIQobChMIuZfyi5mF2gIVhg0qCh0TwQZSEAAYASAAEgLdm_D_BwE

Lol, I totally love the reality check part. It is the truth, a lot of investors who are gullible enough to fall for anything have fallen so badly for a lot of these scam ICOs. Everything that has been listed are the things every investor should always watch out for rather than just accepting the surface alone, there is always a need to dig deeper, chat with the Skype team and see how you can be sure before investing. Also, the idea in this article would be a good one for a lot of investors, having an escrow for ICOs.

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[douhancan58]

Now, ICO's team's white paper and website do a lot of science and technology, giving people a very professional feeling, investors are often attracted by this illusion!

Be sure to keep an objective and cool analysis, discuss with experienced people, and don't rush to invest!

[el kaka22]

Here's a detailed analysis about ICO tendencies in 2018 and some suggestions about how to make ICOs great again! It's highly worth reading!
https://steemit.com/ico/@cryptohu/ico-tendencies-2018-how-to-make-decent-profit-from-the-changing-world-of-icos

Was really worth reading as well as the OPs'. It is highly necessary for people to understand ways they can easily identify scams these days considering how things have seriously turned out in the space and a lot of scammers seeing it as a quick way to get rich with the decentralized unregulated space where anything goes.

Additionally, every investor who can understand how to fish out these scams just like what OP stated, will always be safer otherwise they will encounter their own lessens like how most people do now a days in crypto world.

[polakmaly]

I would also add that the important point is the active life of the project. I had the opportunity to compare projects and those that showed their activity
and those who openly positioned themselves come to success. The last my such project Vreo.io https://bitcointalk.org/index.php?topic=2886707. The team travels throughout Europe and even America, present their project at various cryptoconferences, were interviewed for television and blogers, magazines write about them articles. Such an active position inspires confidence

[oliviatwisp]

I would also add that the important point is the active life of the project. I had the opportunity to compare projects and those that showed their activity
and those who openly positioned themselves come to success. The last my such project Vreo.io https://bitcointalk.org/index.php?topic=2886707. The team travels throughout Europe and even America, present their project at various cryptoconferences, were interviewed for television and blogers, magazines write about them articles. Such an active position inspires confidence

Yeap, that's good guys I also follow the project and I'am going to join it

[darewaller]

Modt scam ico are more interested in the money rather than laying out their game plan on what they intend to add to the blockchain technology

Isn't that why they are scam in the first place ?
I feel no scammer actually have an idea to put in place or a game plan in the first place and the only game plan right from the onset is just to cart away with a lot of funds that the gullible investors have decided to give to them.

It is crazy though, knowing that a lot of people have always fallen for this even when there is a huge writing on the wall, but I guess people are just too lazy to always look out for the right things.

[Alex9813]

First of all I saw the ICO website and their team members.I always check if the information is correct or not.Again,I check their telegram community where people discuss about the project.Some ICO will give 100% bonus on pre-sale, I think this may be the sign of being scam project.I don't like those ICO which give too many free tokens.

[mostkey]

actually this thread has been available and may be more complete. but some of the same entries and some of the missing still have to be read here https://bitcointalk.org/index.php?topic=3136517.msg32425835#msg32425835
but this is also quite helpful for those who left behind the information

[staradvincula]

It is very hard to identify nowadays the legit and scam ICO.  There are some which started legit but it will suddenly disappear in the circulation.  As far as I know, any business run by a strong team, well trusted and professional advisor will lead to a successful come out.  I addition to this, if the project are totally supported and endorsed by the top rating investors.  Whitepaper and roadmap are well prepared.  All links are perfectly will appear in their affiliated channels.  But if we notice that the budgets, the token payments and their promises are unbelievable or being unrealistic, scratch it out to save our time, effort and money.  This is only based on my study and researches.

[Kevin77]

Far from whether the product is real or scam, the profit is the most important reason for speculation
The idea of the project must be revolutionary, solve real problems, motivated to help more than profit with real and future plans.
The team is not required to be famous but at least have experience with proving their competence(github, youtube,...etc).
An open source project with an openness to answering questions and contributing to its development(not just copy/paste).

The competence of the team is one thing I always look out for. There are sometimes even on the ANN thread, when you get to hear the response of some of the team to the questions you ask, it puts you off immediately because you out rightly know that someone who is not sound enough to give you a satisfying answer, how can such a person even be sound enough to build a project and get demand for it.

As long as a project does not get sustainable for future growth, then it is bull shit and as long as the team does not look like those I can trust to invest in, then it is a goodbye.

[Gizaza]

It is very hard to identify nowadays the legit and scam ICO.  There are some which started legit but it will suddenly disappear in the circulation.  As far as I know, any business run by a strong team, well trusted and professional advisor will lead to a successful come out.  I addition to this, if the project are totally supported and endorsed by the top rating investors.  Whitepaper and roadmap are well prepared.  All links are perfectly will appear in their affiliated channels.  But if we notice that the budgets, the token payments and their promises are unbelievable or being unrealistic, scratch it out to save our time, effort and money.  This is only based on my study and researches.

Choose projects with high ratings in icobench or icoraiting. But check everything on project's website. Their team, their whitepaper, everything. I recently found one of the best upcoming ICO called lccx.io - looks like promising exchange based in London.  Well developed white paper, experienced team, located in politically stable jurisdiction.

[Whosdaddy]

you just need check few things
1 - Does ICO already has real business?
2 - Does ICO has real team?

In fact, that real team is always my own first target and once you can get that sorted out without some fishy stuffs being done, then there is no way I would not go further into trying to check the legitimacy and the whole business idea. A lot of people look at only the whitepaper, the websites and quick glance of the team and make decision based on that, but I believe experience will always teach everyone a lesson anyway.

Choose projects with high ratings in icobench or icoraiting.

What are these sites ? ICO reviews ? How reliable they are ? Could you please come up with their URLs if your time permits ? If these sites are being operated by trusted forum members then I guess we may follow them for recommendations.

[lushlifing]

Good day, thank you for this post. If only I have merit I would give you some! 

[Adreman23]

Maybe the scammers are reading this thread and now they have an idea to create an ico that very promising and convincing but fake and scam. I think its time to regulate ICO's Project by the government to form a board of trustee that will obliged every team member of a project to submit any legal/personal documents before  allowing them to conduct an ICO Campaign for the purpose of chasing the team by law enforcers if they are scam or fake and file an appropriate case against them.

[Supercrypt]

I think that team, advisors, partners are very important

Focus more on the team before even starting to consider anything and you will be pretty much in a better position as an investor. This is one thing a lot of people do not usually pay much attention to and they let themselves be deceived into investing into empty promises.

As long as there is no product, there is no solid team then as far as I am concerned, there is no future and such a project is always a NO for me, no matter how impressive nor how informative their whitepaper may look. Identifying an ICO scam in early days itself may not possible for all the people but over experience everyone may detect.

Some people did share in this forum like even they were very much careful before choosing an ICO and contributed into those ICOs in angel hours itself for maximum discount still when those project listed out on exchange, they were unable to find any big returns for their investments. Considering all these, contributing for an ICO still remaining a gambling as there is no certain way for making returns for our capital.

[dyiosah]

I would also add Active, Partners, Distribution of tokens, Clear target, Scalability, Transparency, properly allocated budget.
The last project I found suitable for these requirements was Germen Vreo.io, they doing in-games native advertising without interrupting the gameplay. I would like to find few more projects of  such level, maybe someone can advise

[newuser20]

For me the most important thing is the people who are engaged in the development of the ico project, pay attention to them.
Their previous experience in this area, in what company they worked and what results they did, and then we can make a conclusion about this project 

[palle11]

Helpful tips. I think that the number of followers from the community helps as well to tell if an ICO is a scam or not.

Ha... Number of followers can be fraud itself. Most fraudulent ico have great number of investors. Off course, if they don't have large number, that will be a basis for suspecting already. I think luck is involved here not just number of followers.

[tabas]

Helpful tips. I think that the number of followers from the community helps as well to tell if an ICO is a scam or not.

Ha... Number of followers can be fraud itself. Most fraudulent ico have great number of investors. Off course, if they don't have large number, that will be a basis for suspecting already. I think luck is involved here not just number of followers.

There are service that offers paid followers in social media accounts, you can see them on the services. Its cheap so that's why some ICO's are purchasing that service to gain followers and to trick people to make it look that they have many followers.

[zhekinsp]

Helpful tips. I think that the number of followers from the community helps as well to tell if an ICO is a scam or not.

Ha... Number of followers can be fraud itself. Most fraudulent ico have great number of investors. Off course, if they don't have large number, that will be a basis for suspecting already. I think luck is involved here not just number of followers.

There are service that offers paid followers in social media accounts, you can see them on the services. Its cheap so that's why some ICO's are purchasing that service to gain followers and to trick people to make it look that they have many followers.

You are right,scammers are now intelligent too so make your investment in the projects after enough reasearch about it.BUt we can identify the fake followers by closely watching the profile if they have lot  of followers but no activity on that page then it maybe the botted followers so this is a scam project of they done that.