Scam ICO's and where to find them

[ZaynDale]

Scan ICOs are really hard to spot because they're too good to be true.
The very first bounty campaign that I joined is Tangerine Exchange by Mandarin company but until now after 7 months still they haven't bumped on coin exchanges.
The latest scam ICO that I participated is Denaro, is website, white paper, social community and other factors do have higher score but they only spotted they're scam because they suddenly vanished and their Telegram Channel was erased.

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[cryptoatomic]

A lot of ICO's are pure scams these days.  In fact I'm starting to assume most are...  Now where do you start to look when you want to find out if an ICO is a scam or not.

Start by getting in the mind of the scammer.  The scammer knows he's a scammer.  So what does he want?  Money and not to get caught.  The first one is easy for the scammer since everybody just throws their money at anything that moves with the words 'ICO' and 'revolutionizing' in it.

The second one, not get caught, is exactly the way to catch them!  They want to be unknown.

How do you get unknown if you know that people want to know you and trust you before they give money to your so called project?

You make a Linkedin.  Then you create enough fake people to follow you so the magic number of 500+ appears.  Then you need to gain trust as a scammer.  How do you gain trust?  By giving examples of your so called expertise. You went to this university, you were CEO of that project etc.  A whole list!

But how do you discover fake linkedins?

Easy!

Start Googling...

Look for these things:

IF there is some company mentioned in the linkedin, google for the name of that person + that company, go to their website and look for him/her
IF there is actually a company with the person involved, is it a real company or some cardboard company?  The 'waybackmachine' could help you, did the company exist 2 years ago?

 

Well you can image search these people so that you would know if they're using the real indetity,googling would be excellent because if they are claiming to be someone and you found nothing that is surely a scam because if these people really are exisitng there will be a lot of information about them in the google.

[Lerikaweb]

Scammers are constantly evolving. They will find new ways how to cheat people. It is sad, but ICO investing is not best idea now.

[vozyblack]

The problem is that many ICO are made not qualitatively! Even if they do not scam. And when many do not think about quality, it is difficult to determine which product is a scam and which one is not.

[bandar]

The problem is that many ICO are made not qualitatively! Even if they do not scam. And when many do not think about quality, it is difficult to determine which product is a scam and which one is not.

Well I think it is getting easier by the day to discover scam ico's.  There are so many scams around I stopped investing money in them since last summer (which was an excellent choice since last summer was ico heaven  ).  IF I'd actually buy anything now (I still do bounties but I'm not investing money/eth/btc) it would be ONLY when these things are ALL turned to green:

- Low profile ICO (more room to growth) with a good plan.
- Low profile team that can be TRACED, that has actually proven something and doing something else but keeping their telegram alive

OR

- Low profile tech project with killer devs (they don't even need to be known/public/traceable) who are obviously producing at a high pace but don't care about marketing (yet).

You WANT to be part of the next XEM/PRL/ADA/... from day one and you don't want to be part of some 'revolutionizing some field with 40% pre-sale discount, ico will end after 6 stages with 80 million marketcap blah blah' ico/scam that MIGHT be pumped to x2-x5 once before it dies IF it even ever hits the exchanges...

[yunuzov]

Actually it’s very easy to find a scam ICO. You just need to get in a random ico and it has a very high chance to be scam. Unfortunately that’s the fact for icos lately. If you want to avoid investing in a scam , do your own research about that ico. Find e every bit of information about them and check if they are trustworthy.

[icobestchoice]

A lot of ICO's are pure scams these days.  In fact I'm starting to assume most are...  Now where do you start to look when you want to find out if an ICO is a scam or not.

Start by getting in the mind of the scammer.  The scammer knows he's a scammer.  So what does he want?  Money and not to get caught.  The first one is easy for the scammer since everybody just throws their money at anything that moves with the words 'ICO' and 'revolutionizing' in it.

The second one, not get caught, is exactly the way to catch them!  They want to be unknown.

How do you get unknown if you know that people want to know you and trust you before they give money to your so called project?

You make a Linkedin.  Then you create enough fake people to follow you so the magic number of 500+ appears.  Then you need to gain trust as a scammer.  How do you gain trust?  By giving examples of your so called expertise. You went to this university, you were CEO of that project etc.  A whole list!

But how do you discover fake linkedins?

Easy!

Start Googling...

Look for these things:

IF there is some company mentioned in the linkedin, google for the name of that person + that company, go to their website and look for him/her
IF there is actually a company with the person involved, is it a real company or some cardboard company?  The 'waybackmachine' could help you, did the company exist 2 years ago?

 

Agree ! Linkedin profiles check can give a lot of info. E. G. If profiles of team/founders created few months ago, that mean definitely scam.

[bandar]

It has come to the point where I don't invest in ICO's anymore.  I turned and I only invest in projects that actually deliver something before they start asking money.  One of the rare investments I just did was Speedcash (SCS).  It has a really low supply (470k), has an active dev and -most importantly- it is NO ICO.  It's a coin with its own blockchain, which is being developed all the time.  That sort of projects are far better.  If the coin delivers, people get interested and they buy.  If it doesn't, they don't.  Not an ICO where investors put millions in the hands of people who just promise to do stuff AFTER they get millions.

[sunnydmd]

scams are be more profesional nowaday.
but I think some research would be best way to know.
most important is what people're saying about that ICO. I think it's not too hard to find.