.

[mohieddine]

Sorry

[4ernuy]

Yes, this is a big problem today, many projects are closed and disappear immediately after the completion of ICO. It is necessary to take some measures at the state level, many people will suffer

[TimeHacker]

This is actually one of the few things where some regulation from goverments can be useful. If every ICO founders would have to register somewhere and disclose their real identities, for example, something like fake ICOs couldn't exist... if the founders don't want to go straight to jail of course

[OluwaTosin10]

Scam ICOs
Another “popular” scam method is through fake ICOs. This one usually involves lot more effort — after all scammers have to fake a white paper, setup a fake website and come up with a fake blockchain idea that will change the world. This process also involves paying for ads or hiring people on fiverr — all to make it look authentic. There have also been reports of identity thefts to make the team behind the project look legitimate.
 One way to really verify the validity of the ICO is to make sure the project makes sense — if it does, chances are that the project could do much better actually executing, than just do a scam exit. This article sheds some light on what blockchain is good for, and what it isn’t. Also, check their whitepaper, their github repos and their background.

This is very good idea
A typical example is xrmg(Monero gold)
They made a perfect game plan, white paper, roadmap, for listed on coinmarketcap, paid to coinexchange, traded for 5 days
Promised to get listed on Binance the following Monday; millions of people traded and they crashed on Sunday
Withdrawing all balance they had earned and left people bankrupt
We all just need to try to be extra careful

[voxdu12]

it is necessary to introduce regulation of this activity, to oblige to register its ico in some kind of body, in order to avoid deception in this sphere.

[pey]

Making scam ico is very difficult for scammers while there is lots of creative and easy methods for them. I don't think people invest their money in every ico. There must be expectation of big profit

[sieemma]

Scam ICOs
Another “popular” scam method is through fake ICOs. This one usually involves lot more effort — after all scammers have to fake a white paper, setup a fake website and come up with a fake blockchain idea that will change the world. This process also involves paying for ads or hiring people on fiverr — all to make it look authentic. There have also been reports of identity thefts to make the team behind the project look legitimate.
 One way to really verify the validity of the ICO is to make sure the project makes sense — if it does, chances are that the project could do much better actually executing, than just do a scam exit. This article sheds some light on what blockchain is good for, and what it isn’t. Also, check their whitepaper, their github repos and their background.

Are you talking about an article or just an advice to us? I was prepared to read something on fake ICOs when I saw article in your statement. By the way, one way is to read reviews and get a fair knowledge about what people are talking about.

[Agamemnus]

We as a community need to ask for a proof of coding work done or the past work done by the dev teams behind ICOs. Millions of dollars have been lost due to scam ICOs running away with the money. I don't know how long this is going to be acceptable to everyone.

[mrtryonebiggums]

We as a community need to ask for a proof of coding work done or the past work done by the dev teams behind ICOs. Millions of dollars have been lost due to scam ICOs running away with the money. I don't know how long this is going to be acceptable to everyone.

I know I certainly have had enough, and generally it takes one or two scams for each person before this stuff stops. The reason it doesn't stop though is because you have new people constantly entering the market. As much as we may have learned, the new people coming won't have. They will think it is easy money, I throw some at an ICO and make big bucks, but they won't know the pitfalls that lay ahead at all. A scam or two will wise them up too, but sad to say I don't think scamming will ever leave this planet because of fresh blood to be scammed.

[earthcoin]

Thank you for the info. I think people are just so dumb for blindly investing in just anything, hoping they are going to make so much money from it. It is easy to put money into something, and not so easy to actually do a little reading. Honestly, there are some great projects out there and I hate seeing these scams negatively impact all ICOs when it's only a subset of them that are scams.

[Ereun]

It is not easy to see the ICO scams, the various ways they do to earn big money quickly. Vigilant coin indication scam learns its traits how the pumper and Dev coin act.

[illymoka]

Scam ICOs
Another “popular” scam method is through fake ICOs. This one usually involves lot more effort — after all scammers have to fake a white paper, setup a fake website and come up with a fake blockchain idea that will change the world. This process also involves paying for ads or hiring people on fiverr — all to make it look authentic. There have also been reports of identity thefts to make the team behind the project look legitimate.
 One way to really verify the validity of the ICO is to make sure the project makes sense — if it does, chances are that the project could do much better actually executing, than just do a scam exit. This article sheds some light on what blockchain is good for, and what it isn’t. Also, check their whitepaper, their github repos and their background.

Unfortunately, everything can be scam now. I know some guys who were written into the developers of the project, and they never knew about it. How to check this out, send email to everyone?

[Zapto25]

I'm not so sure there ico scam, because ico scam is very difficult to do
sacrifices to pay for advertising even using fiverr, even stealing someone's identity. this does not make sense

[Black_fox]

Yes, this is a big problem today, many projects are closed and disappear immediately after the completion of ICO. It is necessary to take some measures at the state level, many people will suffer

Totally agree with you. We need to take action. People are increasingly meeting scammers. It's sad.

[seo-maestro]

We can't do anything with scam ICOs because there are a lot of confiding people who invest in scams and scams becomes more sophisticated every day

[eldub]

I'm sickened by all the people asking to be regulated. Careful what you ask for. If these markets were regulated 'til they were smooth as vanilla pudding for all to consume, there would be no money to be made. Safe as milk takes away risk and risk makes money.

[xsaints128]

One can't be too careful regarding the ICOs. There are just too many scamsters out there trying to rip you off. The most important thing regarding the authenticity of an ICO is its team, if the team is sound then the ICO is good.

[xanaxxx]

Scam ICOs
Another “popular” scam method is through fake ICOs. This one usually involves lot more effort — after all scammers have to fake a white paper, setup a fake website and come up with a fake blockchain idea that will change the world. This process also involves paying for ads or hiring people on fiverr — all to make it look authentic. There have also been reports of identity thefts to make the team behind the project look legitimate.
 One way to really verify the validity of the ICO is to make sure the project makes sense — if it does, chances are that the project could do much better actually executing, than just do a scam exit. This article sheds some light on what blockchain is good for, and what it isn’t. Also, check their whitepaper, their github repos and their background.

with proper research, you can mostly prevent scam ICOs. Usually they use fake advisors, nonexisting team members etc. Always study if there are real people behind the project, that will tell you the most.

[setifien19]

Exactly, FAKE ICOs have become a real menacing problem for the whole community where investors & traders may suffer big losses ( or even unrecoverable ones ) .
This issue makes me ( and a lot other people ) support governmental regulations ( even politicians take part in that cake ) but finally we would be prevented

[BitcoinTurk]

Yes, this is a big problem today, many projects are closed and disappear immediately after the completion of ICO. It is necessary to take some measures at the state level, many people will suffer

Unfortunately, many ICOs have been wandering around today, which is no good. There are also projects that make a big impression in the direction of the expectations given especially to new investors. This is reflected negatively in other robust projects, of course. Now that we are afraid to make serious investments, we have realistic and profitable projects.