Biggest cryptocurrency Scams ICO

[Diabolov]

Cryptocurrency is a revolution in the transaction but also used them to hold a major Scam.

ICO is a round of public fundraising, usually launched by a technical startup. The startup sells cryptocurrency tokens to investors; investors buy in the hope that the company will develop into a large business, which will increase the price of tokens.

There are no exact promises that ICO will turn into a good business. Investors are forced to give credit of trust together with their money. This is where the Scam begins.

[Diabolov]

Pincoin and iFan

Pincoin and iFan took place in April 2018. Two ICOS were held by the same Modern Tech company in Vietnam. 32,000 investors gave a total of $660 million.

Both ICOS are classified as multi-level marketing Scam. iFan advertised a social network for celebrities through which they could promote their content. Pincoin promised 40% of the monthly profit from the contributions made to the online platform for investment and auctions.

[lizardbtc]

Cryptocurrency is a revolution in the transaction but also used them to hold a major Scam.

ICO is a round of public fundraising, usually launched by a technical startup. The startup sells cryptocurrency tokens to investors; investors buy in the hope that the company will develop into a large business, which will increase the price of tokens.

There are no exact promises that ICO will turn into a good business. Investors are forced to give credit of trust together with their money. This is where the Scam begins.

Well this is what happens when people want easy and fast money. It is possible but with it comes huge risk involved. Of course where there is money to be made there are scammers that are trying to scam you, they exists everywhere and crypto comes as no exception. Thats why people shouldn't based their opinion on where to invest their money based on some small amount of data but rather should investigate deeper themselves.

[Diabolov]

OneCoin

OneCoin announced the Ponzi scheme in India in July 2017. After 2 months, the Italian authorities imposed a fine of €2.5 million on it. OneCoin does not even support the classic decentralized cryptocurrency and public Ledger. Scandals around it lasted 18 months, 5 countries issued official warnings that this company is not worth investing.

[dhemasm]

Can you add bitconnect, biggest Scam and shitty coin, Until now in my country there are still demand lmao. And one more TBC (The Billion Coin) Best joke ever.

[Sri rahayu]

There is no ICO is really be a scam.
And who makes the scam is their team with the project and also their competitors.

Indeed, people are forced to give trust to the ICO.
But if investors are smart, then they can avoid a scam.
If investors are blind to the platform community, they will enter the scam project. IMO

[batang_bitcoin]

Just saw this recently.

‘Over and Out’: $50 Million Savedroid ICO Makes Apparent Exit Scam

[Mezze]

hey hey heeeeeeyyy

BitConnect wins here 

[tomahawk9]

Diabolov, isn't it better if you post the "5 cryptocurrency Scam" in the first post rather than making several posts for each?

Also, if you don't mention Verge (XVG) I'll be extremely dissapointed 

Can you add bitconnect, biggest Scam and shitty coin, Until now in my country there are still demand lmao. And one more TBC (The Billion Coin) Best joke ever.

bitconnect is a thing of the past, though...Everyone knows it's a scam (except people in your country LOL).

[usd.dev]

From personal experience I can say that the largest scam in which I accidentally got it was the CTR (Centra). I was very lucky to get out of this coin a little even earning, another thing is that now this deceit was drowned by many of my friends who believed in maps and project possibilities. It was very sad and painful for the holders.

[Diabolov]

Can you add bitconnect, biggest Scam and shitty coin, Until now in my country there are still demand lmao. And one more TBC (The Billion Coin) Best joke ever.

Bitconnect

Bitconnect has long been accused of being a fraudulent scheme. He stopped working in January before receiving orders from two American regulators. Users exchanged bitcoins for Bitconnect Coin (BCC) on the project platform — they were promised astronomical profits.

Next, the company launched a program of loans: customers lent BCC to other users and made a profit depending on how many loans were issued. This is a classic Ponzi referral scheme. The victims filed a lawsuit in the amount of $ 700,000.

[Diabolov]

Plexcoin

Plexcoin promised depositors 1 300% profit per month — a classic Scam. However, the ICO has raised more than $15 million Fine, the SEC has had time: froze the company's assets and arrested the founder of the Dominic Lacroix. By the way, the arrest and freezing of accounts — the first case in the practice of the Commission.

[Diabolov]

Centratech

Centratech promoted boxer Floyd Mayweather and DJ Khaled. ICO offered Visa and MasterCard support services that would allow customers to convert cryptocurrencies to real money. ICO raised $ 32 million, after which the two founders of Sohrab " Sam " Sharma and Robert Farkas arrested on suspicion of fraud.

[caisa88]

Just saw this recently.

‘Over and Out’: $50 Million Savedroid ICO Makes Apparent Exit Scam

Actually Savedroid is not a scam, it was just a marketing stunt that they tried to do in order to raise awarness and lobby for improved regulations with their fake exit scam.
You can read more about this here: https://coincodex.com/article/1547/savedroid-did-not-exit-scam-marketing-gone-wrong/

[Diabolov]

Just saw this recently.

‘Over and Out’: $50 Million Savedroid ICO Makes Apparent Exit Scam

Actually Savedroid is not a scam, it was just a marketing stunt that they tried to do in order to raise awarness and lobby for improved regulations with their fake exit scam.
You can read more about this here: https://coincodex.com/article/1547/savedroid-did-not-exit-scam-marketing-gone-wrong/

The media immediately reacted to the obvious Scam. BitCoin ONE (BTCONE) posted an ad in its Twitter account: if Savedroid really turns out to be a Scam, they will give 100 000 BTCONE to victims for free. Some Theo Goodman posted on Youtube a video with an empty ICO office. Behind the scenes said:"I can not confirm Anything."

A major serious portal Finance Magnate also responded to the news and wrote that Savedroid turned out to be a Scam. Also, the media mentioned that the project allows you to make 56 different types of cryptocurrencies, unlike most ICO, which accept only BTC or ETH. About the project wrote CCN, Cryptovest, Crowdfund Insider, Bloomberg. Perhaps, HYIP around Khankir can be compared only with the references to Vitalik Buterin and Charles Lee.

[Diabolov]

Diabolov, isn't it better if you post the "5 cryptocurrency Scam" in the first post rather than making several posts for each?

Also, if you don't mention Verge (XVG) I'll be extremely dissapointed 

Can you add bitconnect, biggest Scam and shitty coin, Until now in my country there are still demand lmao. And one more TBC (The Billion Coin) Best joke ever.

bitconnect is a thing of the past, though...Everyone knows it's a scam (except people in your country LOL).

Verge

Verge Cryptocurrency Opens Crowdfunding: A Possible Scam?
Verge, a digital currency with an ambition to compete with other privacy coins, took to Twitter on Thursday, March 22 to ask its users to raise an amount of $3 million in XVG so that the project can reveal a partnership. Such an endeavor that is completely unheard of, even in the Cryptocurrency world.

Starting out as a Dogecoin Fork, Verge was popularized on Nate Murray’s cryptocurrency list as a “privacy dogecoin.” Since then, the coin has come a long way and is met with equal parts criticism and cheering. The failure to deliver on its famed “Wraith Protocol” was circulated extensively on Twitter, causing the project to lose credibility. In the past week, Verge’s Twitter account posted a “crowdfunding” campaign to enable the project to reveal a new partnership.

Such a move is not only bold and risky, but it makes users view the project with suspicion...

[catsmile]

That is why people say investment will come with risk! If you want to get rich quickly, ICO is a great way - but with a condition that you have to make the right choice

[batang_bitcoin]

Just saw this recently.

‘Over and Out’: $50 Million Savedroid ICO Makes Apparent Exit Scam

Actually Savedroid is not a scam, it was just a marketing stunt that they tried to do in order to raise awarness and lobby for improved regulations with their fake exit scam.
You can read more about this here: https://coincodex.com/article/1547/savedroid-did-not-exit-scam-marketing-gone-wrong/

Yeah I have read about that news but whether it's a marketing stunt or not, you don't give that type of worry to your investors.

Well let's end this off.

[steins19]

There are many scam coins that are really hurt the image of ICO. Because of these ICO camps that does not produce any profitable results it came to the point that a lot of coins drop their values simply because a lot of coins destroys their image. Social has big factor towards the popularity of each coin so basically if on could just make an issue about scams in ICO it greatly destroy the reputation of crypto across the block chain that's I dimly believed that this scam coins will never be stop unless a new profound system for crypto is created.

[cryptopussies]

Cryptocurrency is a revolution in the transaction but also used them to hold a major Scam.

ICO is a round of public fundraising, usually launched by a technical startup. The startup sells cryptocurrency tokens to investors; investors buy in the hope that the company will develop into a large business, which will increase the price of tokens.

There are no exact promises that ICO will turn into a good business. Investors are forced to give credit of trust together with their money. This is where the Scam begins.

Indeed,people are eager to put their money to these investments though most of the new projects are scams,people just want to earn faster that is why they are risking too much,sometimes the those ICOs which promises things that are good to be true are the ones which has turning into scams,thus you will need to have some research before joining any of these ICOs.