BEWARE OF ICOBENCH

[poutintsev]

ICO Bench, one of the biggest ICO listing site has been caught with multiple frauds. Let’s start from smallest one.

https://medium.com/@filip.poutintsev/beware-of-ico-bench-a41e401b69ea

I don’t recommend anyone having any business with the ICO Bench.

1. Overpriced useless promotional packages

Most expensive promotion package on ICO Bench is “Premium Hit” that costs 35 BTC and last 45 days. If you count highest price per day, “Premium Deluxe” last only 7 days and costs 10 BTC.

So what do you get for such high price? Not much. I’ve heard from several ICOs that the money they paid to ICO Bench were practically wasted. Yes you get some traffic, but compared to the amount it’s the most expensive traffic in crypto world and the quality is just average.

2. “Free” ICO listing

While ICO Bench claim to offer ICO listing, that’s a total lie. Well technically they do offer free listing, but you’ll have to wait for months to get listed and by that time your ICO sale will be probably already over.

3. Terrible customer support

In best cases you get a reply after 1–2 weeks, but if ICO Bench don’t find your message to be interested they will not reply at all. Writing on their social media also get no response. It seems even though they make huge amount of money only 1 person is handling customer support.

For example things like KYC procedure of ICO founders take huge amount of time, even if you paid for “premium listing”.

4. No one is checking ICO Expert application

Like with the customer support no one bothers to check Expert applications. People have been waiting for months with no results. I have been checking the list of Expert and in past few months and there hasn’t been any new faces on the list. It seems that no one is approving new Expert applications.

5. False ratings

ICO Bench’s own ICO rating bot “Benchy” will give rating according to which promotional package you bought. The more you paid the better rating you will have and if you only paid cheapest fee for listing, you’re rating will be low no matter how good your ICO is.

6. False ratings by ICO Experts

While accepting payment for rating is forbidden according to the terms, almost every expert does that and ICOs are happy to pay for it.

7. No company, no contact information

There is no legal information about ICO Bench. No company info, no physical address and no names of people behind the project.

If you search ICO Bench on Linkedin, you may discover few employees who all work from Russia, therefore it seems that ICO Bench is a Russian set up, though where it is legally registered (or if has been registered at all) is unknown.

It sure seems that ICO Bench does everything to hide the information of it’s founders, probably because of the reasons mentioned above.

Do you know any other dirty secrets of ICO Bench? Please share them in comment section!

[1715440170]

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[Tynovten_]

Wow, such a warm news. So far altough i never followed ico but i still following bounty base on recommendation icobench with the way see the rank. So far i don't care of the things above, i ignore it. If that's true hope it will take an action as soon as possible.

[julianAm]

Recently I read some posts from one of  their experts. He tell that his work is paid PR and nothing more. It's not important how ICO legitimate or right. He made own rating by money only.

I don't sure that ICOBench is Russian project. Usually same ideas are international

[shapegray]

Some ICO rating site aren't too good as a reference for choosing ICO, it might be better to judge by yourself what you think is better.

[oaks05]

only been on the site once i believe wasnt impressed by it havent been back since def better options out there than this one.

[cryptorTUX]

I used to go there as it really lists all the major ICOs that are lunching within the space, though they don't offer every single one off them listed and ratings. Thank you for taking your time to list this here as now I will think more before I even go to ico bench and other similar websites out there. It is easier as you get ratings and all but I think the higher issue is that we often forget that they could be paid by others to write fake reviews. It socks but you do everything for the money and  so do we. Best thing is to exclude these kind of websites in the future and get back to our on conclusions.

[steplaza]

Thanks for sharing, I am wondering is there any evidence, proof of this misbehavior? We are just relying on the article opening "has been caught doing this.."

[Leona Lewis]

Thanks for good information sharing! All your decisions should be made by your own without rely on ico listings/ratings sites.

[Coingram]

Oh lord. I thought it is a trusted source where all the info is true and I have picked up many ICOs from there. Unfortunetely some of them has disappointed me

[Peple]

I'm not the first to hear a lot of negative about ICOBench, I'm not surprised that there was another post with detailed information

[kingzpro]

Yeah i actually believe that not only ico bench but all ico rating websites have no guarantee about how good an ico will be, they just give the score based on expectations and there are also rumors that they do paid listings and paid listings can not be unbiased.

[stasiulman]

I was always interested in how the expert rating is formed and who are the experts. Only here probably not only Ico bench working this way. Thanks for the info.

[bitcoinliker999]

Awesome Post!!!

[Jericka D Ranillo]

Yes I also not believe in ICObench and all ico rating sites because just what you said, It can be manipulated by money false rates by expert and the both. How could a both do rating? Big false by ICObench. I do a self review when talking about an ICO bounty, not looking this kind or rating sites

[maurobiasolo]

I've managed a small ICO in the past (And currently engaged in another one): all the industry only care about money. Listing website, promotions, etc: they can write/shill whatever you want for BTCs

[rodney0404]

I'm so sad, I thought ICOBench is the most trusted in terms of rating of an ICO but based on what I read now, it can't be trusted at all. Every time I pick bounties I base on recommendation of ICOBench or other ICO rating and listing platform but now, it's better to do your own rating by yourself.

[Drogean]

35BTC for listing? this is crazy.
Of course, they give some traffic to the site, but they are not worth this money . for some projects this is 1/10 of capitalization. There are many alternative placement options.

[HungryTigerGrouchyCrotch]

Woow, this I didn´t know, I trusted them so much, because I thought that there are real experts providing real rating!

[omnik]

ICO Bench, one of the biggest ICO listing site has been caught with multiple frauds. Let’s start from smallest one.

https://medium.com/@filip.poutintsev/beware-of-ico-bench-a41e401b69ea

I don’t recommend anyone having any business with the ICO Bench.

1. Overpriced useless promotional packages

Most expensive promotion package on ICO Bench is “Premium Hit” that costs 35 BTC and last 45 days. If you count highest price per day, “Premium Deluxe” last only 7 days and costs 10 BTC.

So what do you get for such high price? Not much. I’ve heard from several ICOs that the money they paid to ICO Bench were practically wasted. Yes you get some traffic, but compared to the amount it’s the most expensive traffic in crypto world and the quality is just average.

2. “Free” ICO listing

While ICO Bench claim to offer ICO listing, that’s a total lie. Well technically they do offer free listing, but you’ll have to wait for months to get listed and by that time your ICO sale will be probably already over.

3. Terrible customer support

In best cases you get a reply after 1–2 weeks, but if ICO Bench don’t find your message to be interested they will not reply at all. Writing on their social media also get no response. It seems even though they make huge amount of money only 1 person is handling customer support.

For example things like KYC procedure of ICO founders take huge amount of time, even if you paid for “premium listing”.

4. No one is checking ICO Expert application

Like with the customer support no one bothers to check Expert applications. People have been waiting for months with no results. I have been checking the list of Expert and in past few months and there hasn’t been any new faces on the list. It seems that no one is approving new Expert applications.

5. False ratings

ICO Bench’s own ICO rating bot “Benchy” will give rating according to which promotional package you bought. The more you paid the better rating you will have and if you only paid cheapest fee for listing, you’re rating will be low no matter how good your ICO is.

6. False ratings by ICO Experts

While accepting payment for rating is forbidden according to the terms, almost every expert does that and ICOs are happy to pay for it.

7. No company, no contact information

There is no legal information about ICO Bench. No company info, no physical address and no names of people behind the project.

If you search ICO Bench on Linkedin, you may discover few employees who all work from Russia, therefore it seems that ICO Bench is a Russian set up, though where it is legally registered (or if has been registered at all) is unknown.

It sure seems that ICO Bench does everything to hide the information of it’s founders, probably because of the reasons mentioned above.

Do you know any other dirty secrets of ICO Bench? Please share them in comment section!

As far as i know that icobench is fully manipulated by its owner to become paid to promote and tries to give a rating based on how much the ico team was paying to the icobench itself. the only reliable icolist is icodrop because it's based on the community decision and vote. The majority of icolist site is paid to promote right now.

[rarg]

All right. I think you should add more facts. You only copy paste the information from that Medium article. I am not taking a side. I just want to neutral here. I will appreciate if you can add a more real fact about that issue.