How to identify SCAMS? Got in one :(

[psoo7]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

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[gary_57]

The most asked question I think. My tips to identify is go through the white paper thoroghly, look into the projects and the team working behind. See the website properly too. These might help.

[mastadonballs]

There are many ICO scam campaigns recently and to determine which is not easy. In addition to analyzing the index as well as looking at the website review, it is essential to do that to ask people on Social the potential of that project to make the most accurate investment decision.

[Harriti]

I think only way to identify scam project is learning experience and knowledge about investing in ICO project form other investors whom have joined cryptocurrency world for long time.  But I think you should prepare money for tuition cause I don't think anyone will really share their knowledge and experience for you if they're not your family members or your friends

[batang_bitcoin]

You already answered your question.

Lack of knowledge and desperation.

Try to remove these two and start educating yourself first before investing to ICOs and don't be too desperate about the profit. Don't be so greedy so that you'll not be landing on scam ICOs.

[btccashacc]

There is no such a method to determine whether the project is real or scam. On the other side creating a coin is not a hard thing to do and the scammers will try their best and make something best to convince people to invest in their project. However you can minimize the risk for being scam by learning their whitapaper, checking the team behing the project and get in touch with them, asking the community is a good thing to do though, the last maybe visit some ICO review sites.

[Teraboy]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

There is no assurance for that, if you have been loosing your money and you can't get it back again. As far as i know that all of the lost result in the crypto is permanent and it can't be reverted. So you can try t do a lot of dilligence later. There is a lot of scammer and that's why i need a few weeks to identifying an ico.

[Scambusterz]

If there were universal ways to define a scam, then fraudulent projects would simply not exist. Even the most successful at first glance project may be a bench.

[RavagedLife]

Recently Scamming has increased a lot. I am very sorry for your lost.You can check their token sale to see whether it is progressing or not because some scam sites hide their token sales.You can also check whether it is a transparent company or not. Like it is giving up to date report to user or not.

[DannyMarco]

Actually it is really tough to find the scam coin at a glance in the market of crypto currency. Actually this is a decentralized market and so it is difficult to find the fake scheme. You can see the past record of the coins and you should be very careful regarding new coins. Experts’ opinion can also be helpful. Moreover try to invest in a real coin like bitcoin.

[demenBTC]

There's no specific technique to identify scams. But, i saw a software which can do so. I don't know whether its reliable or not. You can search it on google.

it is not a guarantee, all fraud happens in because of the developer ico itself, to identify it is very difficult, in searching ico who does not cheat that must be known is a developer that has been trusted and has good repotation

[Valay9836]

Unfortunately many projects this Scam . and many of them look very convincing . check thoroughly will not work . even the most hoped-for , they turn out to be a bench

[klavuhn]

For bounty Hunter, I only check whitepaper, Team, and their partnership. Also check ICO rating to ensure that the project aren't SCAM. But for investment I will check Furthermore because I didn't want to lost my money.

[HadadC]

Scams are really common in these days. People try to avoid them but its not possible everytime. You need always be careful.

[Torrenth]

very difficult to know fraud or not, identifying the team and others do not guarantee it is a good project, I think there are luck factors that contribute to this, and the other is experience. and therefore for now I have not thought to invest in ICO.

[celtic99]

Sometimes its impossible to know.  Some scams can be really convincing with real team members and such but you still end up losing a lot of money.

[Bttzed03]

That is unfortunate. There is no guarantee that you will not fall in any scam in the future. Perhaps the best weapon against these scams is experience. I know some of those who have been in crypto for quite a long time who could spot a scam at first glance.

[spngebob]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

There are many indicators how to recognize scam, starting from team members, poorly written whitepaper, too good to be true project, self moderated thread, team using bumping service, new facebook, twitter, linkedin accounts, i think there is thread on this forum about this. If everything looks ok you can't identify it, but if you think something is strange with project move to next one.

[elosi]

The way I avoid scam ICO is that I use icodrops website to pick my ICO, icodrops website list good and verified ICO's so I normally go there and find some ICO then I will continue my research on them to find the one I will invest.

[w33man]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

This is asked a lot of times. The reason why a lot of ICOs fail is because investors are now skeptical on joining ICOs since a lot of IcOs  are scam. Some investors are just waiting for the ICO to finish and get listed just to make sure that a project is legitimate. Some ICOs are just copying other's whitepaper to make their project look real.

[NeonXL]

There's no specific technique to identify scams. But, i saw a software which can do so. I don't know whether its reliable or not. You can search it on google.

it is not a guarantee, all fraud happens in because of the developer ico itself, to identify it is very difficult, in searching ico who does not cheat that must be known is a developer that has been trusted and has good repotation

The KYC procedure for developers, some kind of "regulatory framework" (maybe SEC) = a good guarantee. Not 100%, but very good. And yes, the chance to fall for the bait of scammers is very big today. But even a small security guarantee is already a lot

[VuLDK]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

To determine where the scams are not too hard , but it's not easy to detect it. Especially for new people entering the virtual money market. To identify a con project , find out the information about it , home founders , market capitalization, detailed information about the founders of it , the development plan as well as the future orientations , see if it's appropriate and feasible. If you find suspicious questions , they' ll help you. Good luck

[shiningn0t]

Spend a lot of team reading basically. Also having some well known names into projects (like Vitalik into Kyber.network for example) helps a lot.

[danherbias07]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?
as I just lost some money in a scam named DenCity. Everything seemed genuine at first. what to do in such cases or for assurance?

Taken care of? How can they manage to fake a team profile if you are going to look at them at a video chat?
Skype. Use it or any video chat application to see them. You are an investor. Remember that.
They will do anything so that you will get in. If they deny the possibility of a video chat then tell them you will invest it with other ICO.
There will be a chance that they will go back and will agree with you. Every dollar means to them cause they need it to continue the project which is also for their own.

[Ferris419]

If you have experience. Find out in white paper. team development of that project. If you are a newcomer then you should explore these projects through the ICO rating websites. I like the site so much, very useful.

[Papcio77]

Team profile with verification if real person like public appearance can tell a project is scam or not. Thats onlybtonknow whether it is a scam or not but not I mean it is good investment ot to participate in the program. There must be more research to find  it

[Sebas.tian]

You can check their linkdin account, see if their connections are legit. Don't judge an ICO solely on its whitepaper; it may be plagiarized or greatly romanticized to deceive many newbie investors. You also have the right to demand to see if they have the proper documents for their project to operate.

[bellamente]

Have you invested or been a bounty hunter? You can lose money even on a promising project with smart creators. There are many pitfalls in this business

[betece777]

I think there is no guarantee for this problem after our money is taken away then lost our money, and there is no handling it is very difficult to distinguish which one is scam and which one does not all look the same and there is nothing to distinguish and most importantly when we want investing in ico looking for accurate information and see on the web apaha properly listed or just a scam

[grendel25]

There are many indicators to seeing if a new project ICO or coin is a scam such as:

1) Team is completely ANON.  This may not always 100% equate to the project/coin being a scam and depending on the goal of the project anonymity may be desirable.  If the team is anon then we should see something tangible in the process such as major name vouching (like well-known supporters even if they do not directly own the development of the project) or an actual product and revenues.

2) Look at the bounty and fund raising.  Do their bounties pay weekly or at the end of some long several months period?  If they pay weekly then it's less likely to be a scam.  If they pay at the end of a month or more then they are probably on an exit scam for that period of time.  Do they allege to have raised millions in "private sales" pre-pre sales with no proof that so much money was raised?  Probably a scam aimed at getting people to buy into the new "pre-sale". 

[misterj]

based on my experience, doing a lot of research does well against scam ICO or campaigns. identifying if those so called admins has a real profile and shows that they are really aware on what they are into because some are just being used to represent ICO so that they could at least say that they have a legit member on it, increasing the number of people being scam.

[wgd]

Desico is next...

https://bitcointalk.org/index.php?topic=5092272.0

[terible.hunter]

How many guides on the forum, but they can not be guaranteed. There are opportunities to reduce risks, this is true. But in most cases, of course, much depends on the person himself. What will he choose and where will he send the money.

[dodgecharger]

Usually the ICO project of the scam will only happen among the niche investors. First, observe how many people are concerned about this project, and then investigate the specific information of the team members.

[Snaic]

The most asked question I think. My tips to identify is go through the white paper thoroghly, look into the projects and the team working behind. See the website properly too. These might help.

In the current state of an unregulated ICO, it is impossible to determine the fraudulent ICO project in some cases. Therefore, when joining the ICO signature campaign, we still always have the risk of joining the fraudulent ICO project. We do not have the capacity and authority of law enforcement agencies to carry out such an inspection. We cannot see and communicate directly with the ICO team; these individuals are usually located in another state or even in some states at the same time, and all this makes it difficult for us. Only law enforcement or regulatory agencies at the place of ICO registration can identify the ICO team.

[Andruha1993]

It is necessary to study the project in great detail: the team, whitepaper, ratings, product, and so on. But still there is no guarantee that this project will be successful. Now it is very difficult to find a worthy project.

[jrrsparkles]

Lerning about the project team will help us to identify scams and we need to deep research about the whitepaper and the idea behind the project will make our money worth or not.

In 2019 we may see more projects gets resumend so hope for better future of ICO market.

[infarterr]

I am concerned about the fraud that you experienced, because now there are many like that, at first it looks original but they cheat after many people invest in them, so now many investors who have less confidence in ico and new exchange, there is no that can be done except be patient and be careful about choosing another investment place.

[Nivelir]

The situation with the analysis of projects today is not very pleasant, because most people in the end can not work properly and the right approach to the project. I am sure that today you can do it, but at least reduce the risks.

[billy.ryoko]

I have invested 2 ICO in last year, they have the big success in the ICO, but after the year they only listing in the EtherDelta, another one, they have sold around half of the token, but they still have not listed in any exchange, and I can't find any update about the project now, this such is the scam project.

[blockman]

Determining the scam ICOs at the very first place can't be done. They are sweet in the beginning and you can't think of them as a scam but time will tell on how shady their plans are when you've got to know them better. Finding for a genuine and legit projects now is still possible but chances are low as most of them are stopping themselves to continue the project itself. But if you ever find one, do all the effort to verify everything related to that project to protect your money.

[justspare]

A lot of scams happening in the ICO market due to lack of knowledge and desperation to dive into crypto market. Although there are many ways by which you can identify these scams like: Team profiles, whitepaper technicalities and etc. But is there any way to identify when all these things are taken care of?

It is not that easy to identify potential scam ICOs. Because people are smart enough to modify and make up their project to showcase like a legitimate one. That is the reason, most of the time this community is failing to identify the scam ICOs. Only after getting them listed into exchange and heavily dumped, people start realizing about their scam. Because, such a scamming project's coins/toekn will never find recovery and then it will get delisted from exchanges. But, this kind of identification will not be having any significant benefit for the investors as finding a scam is being done here very lately.

Identifying scam projects is too difficult because of two reasons. First one must be, some projects are not intentional scam but unable to manage them properly they are failing and then scamming people by not keeping their words. Another type must be, even a project is good,  when they are not able to convince people to contribute into their ICO, they are failing and then it seems like a scam to people.

Obvious scams can be easily identified when they are not smart enough for hiding them. But, when an experienced gambler is coming up with a project, we may fail to identify them as it is too difficult job for anyone until experience that scam by ourselves.

[Driggers95]

I have invested 2 ICO in last year, they have the big success in the ICO, but after the year they only listing in the EtherDelta, another one, they have sold around half of the token, but they still have not listed in any exchange, and I can't find any update about the project now, this such is the scam project.

Tell me how successful they are. They don't even have money to list in a larger exchange. Etherdelta is a bad and free exchange that I know. I met hundreds of bullshit projects but they still listed in much larger exchanges

[Amberum]

The best way to deal with online scams is to avoid them entirely. After all, you don't want to have to repair damage later.

[OluwaTosin10]

The best way to deal with online scams is to avoid them entirely. After all, you don't want to have to repair damage later.

Mi think avoiding them is good but how do we identify them is the issue at hand
Because fraudulent icos or stos come with swagger and beautiful white papers which can wow any investor

What further identification can be done

[senyorito123]

A project without team picture is one of the reason to identify a scam projects because if they do not have a bad intentions they will not be afraid to show their team pictures,and there is also a project that you will not trace it directly because you will see that admins is very active and they are spreading a good development to their project but you will know that the project you participate is scam in the end because they lost like a bubbles.

[ipanks]

I think there is one thing you can do to proves it a scam or not. You can visit their office in the other country, and then you meet the dev and the teams directly so you can know what exactly they did with the project. But you must spend more budges to go that places and I think it's not cheap to go there. We cannot identify they are a scam or not if the project was on the internet because it is hard for ordinary people to know about them. They can easily change their identity into other people in any minutes, and they create the new project with the other people name and profile.

[PanGiMoon]

There are many ICO scam campaigns recently and to determine which is not easy. In addition to analyzing the index as well as looking at the website review, it is essential to do that to ask people on Social the potential of that project to make the most accurate investment decision.

But we all understand that the white paper and the analysis of the team is only a small part of the test of the viability of the project. We still need to realistically evaluate the soft and hard caps and the idea itself.

[darmin]

the scam is not an easy thing to predict. This is evident because many were still trapped and enter into the scam happened. But even so, sometimes the analysis will also be helpful to predict this thing though is not appropriate. see the concept is there, the team behind them and also wallet became the thing to do.