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Question: Pick 3 of the most distinguishing features of a scam ICO?  
Team Identity Theft - 23 (24.7%)
Poor Online Presence - 9 (9.7%)
Unrealistic Claims - 15 (16.1%)
Lack Info In WhitePaper - 15 (16.1%)
Token Structure Disproportionately Favours Development Team - 6 (6.5%)
Empty GitHub Repositories - 9 (9.7%)
Unrealistic Claims - 11 (11.8%)
No Escrow Account - 2 (2.2%)
No KYC or AML - 3 (3.2%)
Total Voters: 33

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Author Topic: What are the distinguishing features of a scam ICO?  (Read 495 times)
Btcvilla
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May 21, 2018, 01:39:01 PM
 #61

Hey everyone,
Would love to get a show of hands for the most distinguishing features of a scam ICO Huh.

Let's educate each other by picking your 3

-The CoinRating Team


in fact this should of course be based on overall observation. there must be an in-depth study to make a good choice on an ico, even more so to figure out a very potentially scam. so, as a whole you should review it from white paper, roadmap, team and developer even check the official website data especially if the newly registered it is very doubtful.


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May 21, 2018, 01:56:31 PM
 #62

The last point of the survey is very controversial. If I were a fraud, I'd set up a KYC and sell my personal data to get extra benefits. If you are required to provide such a scan of the passport do not do this, because it can be sold in crime. The presence of KYC and the quality of the project are not related.

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May 21, 2018, 02:02:58 PM
 #63

There seem to be so many Scam ICO around nowdays,

Often they are just projects promising hype and great increases in value, only for the coin to be "In development" for 5+ years and then the developers all to quit.
It is true that the offer usually is very attractive when it is out of the ordinary. Usually ico scam has many dreams, but if seen from the data they have then it does not support. As the easiest benchmark is when we see there is a developer who already has a good reputation then we can trust the ico project. I usually see from the team that developed the project. For a beginner then I recommend to read a lot, because now it is a lot of ico that ends with a scam. So look for as much information as possible because it will be very helpful to make an important decision in the investment that is undertaken.
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May 22, 2018, 08:33:21 AM
 #64

I think these are all way too obvious. No clever conman will forget these things when preparing the ultimate con. That said, I think people call ICO's scams way too often and way too quick. If value drops below 2 times ICO value, half of the investors are screaming 'scam'. If milestones aren't met: Scam. No activity in Telegram chat for 1 hour: Scam. One of the items from the list missing: Scam....only a handful are actual scams, where the main goal was to steal peoples money as subtle and quickly as possible. I never fell victim to one so far (knock on wood).
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May 23, 2018, 09:24:40 PM
 #65

There seem to be so many Scam ICO around nowdays,

Often they are just projects promising hype and great increases in value, only for the coin to be "In development" for 5+ years and then the developers all to quit.

Yes, this is sometimes happen to a scam ICO. Their coin are very cheap when arrived to the marketplace that makes disappointment to the investors and decide to quit investment. In addition also their coins are slowly in development and getting worst in terms of value in the long run.

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May 23, 2018, 09:38:34 PM
 #66

For me, team is one of my way to distinguish if the ICO is a scam. There's a lot of ICOs who run their crowdsale and their team is all fake that is disgusting. Second if the project concept is realistic or in short if the project is to good to be true. Third, unrealistic claims false information they were given to the people in order to gather more investor. I hate those scammers who don't have a heart to steal money from the others.

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May 26, 2018, 09:23:55 PM
 #67

This can be harder to detect as there are no regulations regarding who can or can not hold an ICO. Just because a business is poorly presented online does not make it a scam, more importantly just because it looks good and established online does not make it a real organisation.
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May 26, 2018, 09:38:48 PM
 #68

There are two major things i look out for when participating in any project. Out of the two is the team. Team is a very important aspect of every ICO project and many a times, thorough investigation . There are times that some of these scam ICO projects use the pictures of outsiders to their project as team members.

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May 26, 2018, 09:45:47 PM
 #69

1-Poor Online Presence 2-Lack Info In WhitePaper. 3-Token Structure Disproportionately Favours Development Team.I think these are the most important points to be paid attention to when choosing ICO
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May 26, 2018, 09:54:13 PM
 #70

I think we can tell the three most distinguishing features of ICO fraud by looking at Identity theft team, Unrealistic Claims, Lack of Info At WhitePaper.
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May 26, 2018, 10:05:46 PM
 #71

I really don't like ICO without working projects already, for example, if it's involve an application, I would want to see that actions have been taking towards developing the app or even more preferable if the app is already in beta stage. Then I would be convinced that they mean business. Little or no commitment at all on the part of the team is a huge red flag for me.
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May 26, 2018, 10:11:03 PM
 #72

The last point of the survey is very controversial. If I were a fraud, I'd set up a KYC and sell my personal data to get extra benefits. If you are required to provide such a scan of the passport do not do this, because it can be sold in crime. The presence of KYC and the quality of the project are not related.
But the majority of icos are implementing KYC verification to complete the compliants from the regulators. Man you should remember about not all of icos are applying it to the participants are scam icos.
KYC doesn't give a lot of impact to the quality of project itself.

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May 26, 2018, 10:13:13 PM
 #73

Team Identity Theft, Lack Info In Whitepaper and unrealistic Claims are the key features to distinguish a scam ico. Beware of these three things if you want to invest in any ico
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May 26, 2018, 10:19:31 PM
 #74

Hey everyone,
Would love to get a show of hands for the most distinguishing features of a scam ICO Huh.

Let's educate each other by picking your 3

-The CoinRating Team

Lack info in Whitepaper is the most easy to track scam ICO, usually they noted the unimportant things into the whitepaper and dismiss what should be in the whitepaper. Also, when we asking in the group, they usually they give an information different from their whitepaper
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May 26, 2018, 10:31:00 PM
 #75

Hey everyone,
Would love to get a show of hands for the most distinguishing features of a scam ICO Huh.

Let's educate each other by picking your 3

-The CoinRating Team

Lack info in Whitepaper is the most easy to track scam ICO, usually they noted the unimportant things into the whitepaper and dismiss what should be in the whitepaper. Also, when we asking in the group, they usually they give an information different from their whitepaper
I think that fraudsters in the sphere of his companies are already becoming professionals in their field of activity. Therefore, they will do everything to deceive us investors. So the usual errors or lack of information will not do.

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May 26, 2018, 10:57:53 PM
 #76

Analyzing the issue in a way other than the ones mentioned, in my opinion the salient feature of a scam is the level of promises in the news media. With this type of positioning the developers end up promising investors too much in a short period of time, causing inconvenience for both parties by making possible a scam.
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July 29, 2018, 06:16:02 PM
 #77

There are a lot of indicators actually if you look at only one or there exists only one it’s a good move not to invest in that ico regardless of how attractive it may seem, it could be the team which does not contain all the technical members aligning with their promised technologies.
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July 29, 2018, 06:20:07 PM
 #78

Team Identity Theft   
Poor Online Presence   
Lack Info In WhitePaper   
Empty GitHub Repositories
No KYC or AML

These are the basic things you should be checking if you are planning to join these ICOs,or if you want to get these shitcoins because if there are pointers you have missed you might lose all of your investments.ICOs nowadays are getting more scammy compare to the previous years which is why we need to be more careful and be vigillant in picking these new projects.
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July 29, 2018, 06:26:03 PM
 #79

It seems to me that lately it has become very difficult to determine the real benches, because the scammers have learned very much how to work with information and how to correctly provide information about the project. Now this is a problem.

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July 29, 2018, 06:36:13 PM
 #80

I first of all pay attention to White Paper . If it is not-then I do not even consider the project further, but go further . The lack of information in White paper is the easiest and fastest analysis
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