How can the ICO scams be identified?

[batang_bitcoin]

If it's a lending platform that's an obvious ICO scam, most of these ICO that disguised as that platform turned out to scam quickly.

Don't just believe when someone says "This project has the potential and has a great team." Make your own assessment and judgement, it's your money not theirs.

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[jozymens7]

The best ways I have used that have been so resourceful for me is the reading of the whitepaper and also researching much about the team members and the group or kind of people running the bounty for the ICO on this forum. I have done this for so many times and it has helped me elude this.

[kotajikikox]

If the ICO project does not have open source code, you need to be careful.
Because a good ICO project will open source code.

Great advice mate but they need to learn the background of the teams about reputation of project and and choose the project manager with have an reputable in this field of job with have word of honor.

[jlanzago]

If you are a total newbie, it is kind of difficult. But you need to check the team, search their social media profiles, even contact them directly, do a reverse image search to confirm they are legit. You need to understand the project and need the whitepaper. Need to compare the technology with similar projects to see if they didn't steal anything or if it is just a recycled whitepaper. You need to see if they do have a minimum viable product and be able to see it, try it. You can review the code they already have on github or similar repositories.

Those things, among others, will help you to detect scams.

[orenjebum]

Here are some factors that need to be identified to avoid fraud ico, Know well the team / management behind it,One of the most important success factors for ICO or cryptocurrency is the developer and administrative team behind the project.
For that reason, more and more often fraudsters use fake profiles / biographies on the development team for their projects.
The best protection against this fraud tactic is to thoroughly examine individual team members of a project before you invest.

[malekcap]

to indentifie that the ico is one of the scam coin first of all you need to have knowledge about ICOs i mean you had experiance knowledge about some ICOs scams and Succussful ICO si its first thing to know, then you can go through their whitepaper and try to figure out why this coin is creaded and take a look for their roadmap and see if it has any meaning so as last thing u can do is see if they really has a great community, good luck bro

[lorylore]

There are a few ways to spot scam ico.

One of the most common ways are
- no profile of the team members like no picture (just name) or the linkedin is not working etc.
- they focus on the profits and not the growth of the product, promise you 100% return in a year
- spelling mistake in their website/documents, not professional and it is just cheap 3rd parties.
- unable to show that they are actively promoting in real world, always hide behind the screen.

[ibrarak92]

100% impossible to identify a fraudulent project, you need to pay attention to the product, its suitability and its goals, and learn about the team

[dmitrvlas86]

first of all you need to study the team that is working on the project if the team is reliable, then 70% that the company is not scammers

[Yemmy4eva]

If they are selling the dream instead of the project, RUN!!!
Good projects never talk about their future price

[Gimolre]

It is hard to figure out which ICO is fake. ICO resembles calling for venture so they can build up their thoughts. Normally we will know they swindled after the ICO. A ton of precarious appearances influence us to accept. and afterward they will flee. ICO venture is dependably a dangerous decision

[Wadolg]

I don't know who began it however there used to be escrows who will hold the assets. likewise some ICOs are finished by trades also. presently its difficult to recognize all these ICO that can conceivably trick. nowadays I simply answer to those colleagues and the item they had effectively created. however, even so some are still tricks. I have seen multibot which completed an ICO, I saw it had a working item however the dev vanished still.

[alfs75]

Dear All!

As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!

will in my own experience  its hards to determine those ICO project,because if you look up the white paper roadmaps and the parts of the team in blue prints all are legits,even the bounty manager,and then you can identify thats in the end of the campaign,that those you participating project are scam because they cannot paid your works and they diminished after the project is finished.

[readygoaw]

If the ICO project does not have open source code, you need to be careful.
Because a good ICO project will open source code.

Great advice mate but they need to learn the background of the teams about reputation of project and and choose the project manager with have an reputable in this field of job with have word of honor.

Not always good projects have open source code and this is due to the fact that it can be stolen completely or partially which will become an obstacle to the successful development of the idea.

[Pasadoble]

Here is the article on the topic: https://icoguide.com/en/blog/how-to-identify-scam-icos but scammers are becoming more and more professional and experienced so it becomes more and more difficult to choose good project. I think the main thing you should look at is the team, its experience and background.

[BobBct]

Most scam ICOs are very noticeable that it is a scam because of the project the roadmap ect but there are still scam ICOs out there that looks real so look at the small details like the telegram the admins there and of course the community.

[Jdragon6x6]

With many ico popping and launching everyday it is hard to identify a good ico from a bad or scam ico. There are many ways to help you identify a scam ico. My most common go to is the goal of said ico. If it is too good to be true then chances are it is a scam ico. You can also try looking for credibility of the people behind the ico. Some scammers like to stay unknown.

[Golftech]

With many ico popping and launching everyday it is hard to identify a good ico from a bad or scam ico. There are many ways to help you identify a scam ico. My most common go to is the goal of said ico. If it is too good to be true then chances are it is a scam ico. You can also try looking for credibility of the people behind the ico. Some scammers like to stay unknown.

That's how wise scammers are, they can create more accounts after scamming people with there previous project, then start a new one and make
things more impressive, even the road plans are good and they got pretty well and usable project but the intentions behind is for scamming its's
really hard to identify who's really taking the good steps for making it into a successful coins, you need to look closer and use your owned instinct
when choosing with your investment.

[sergej.dubynin]

I will tell you how I suck not reveal fraud, but also projects in which people lose their money. This so-called financial pyramid, just for the cryptocurrency. A lot of such projects is ICO or just POPs up from nowhere. Such projects is always at the highest level, it is not spare money. Always in such projects, there is a referral program that promise huge bonuses. The promise of profit every day, and interest will be floating, not a constant. And disguise it all under investment Fund with a bunch of experts who invest your money and always work. Do not believe in such projects, they will collect the money and disappear, and then launch the same project, only with a different name and slightly change the conditions.

[Bessta]

Dear All!

As many of us are aware the fact that there are many scams fooling and cheating people of their money under the disguise of ICOs,it would be really useful if your thoughts can be shared for all to be cautious of.
Please be kind enough to comment your ideas!
Thank you!

There are actually guides on you can search in google for this information. One of the clues on how to identify a fake one is if you check the grammar of the whitepaper. If it seems unprofessional, then there is a chance that it could be a fake one or a scam.