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Author Topic: SCAM SCAM SCAM!!!  (Read 266 times)
psoo7
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July 04, 2018, 01:03:32 PM
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 #1

Some red flags for the beginners in the crypto world! Make sure to check these red flags before investing in any ICO.

1.CLAIMS OF HIGH, GUARANTEED RETURNS.
2.CELEBRITY ENDORSEMENTS
3.CLAIMS OF “SEC-COMPLIANT” (guarantees that their coins will trade on an SEC-compliant exchange where you can buy and sell them for profit)
4. INVESTING WITH A CREDIT CARD.
5. PUMP AND DUMP SCAMS.(Tempting you with guaranteed gains with pumps and dumps during pre ico to crowd sale)
6.Team members without any social profile. if they provide be sure to check the genuinity on basis of followers and background.
7.Language( grammar is correct or not)
 
and if you have done these be sure to read the whitepaper!!
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July 04, 2018, 09:21:13 PM
 #2

I can give you a summary on this which you can have the assurance that you won't get scammed by these ICOs and that is by not investing to ICOs.

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July 04, 2018, 09:34:29 PM
 #3

All of the aforementioned points are really important to check before deciding to invest in a project.
Otherwise, you'll risk to lose a lot of money. It's always better to be too wise than to lose all your precious coins.
As everybody keeps saying: always DYOR (Do Your Own Research) !
Hope it clears everything !

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July 04, 2018, 09:41:25 PM
 #4

Celebrity endorsements aren't a red flag as long as you could verify that it's genuine. One way for that is to check their SNS where announcements are made.

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July 04, 2018, 11:20:42 PM
 #5

Some red flags for the beginners in the crypto world! Make sure to check these red flags before investing in any ICO.

1.CLAIMS OF HIGH, GUARANTEED RETURNS.
2.CELEBRITY ENDORSEMENTS
3.CLAIMS OF “SEC-COMPLIANT” (guarantees that their coins will trade on an SEC-compliant exchange where you can buy and sell them for profit)
4. INVESTING WITH A CREDIT CARD.
5. PUMP AND DUMP SCAMS.(Tempting you with guaranteed gains with pumps and dumps during pre ico to crowd sale)
6.Team members without any social profile. if they provide be sure to check the genuinity on basis of followers and background.
7.Language( grammar is correct or not)
 
and if you have done these be sure to read the whitepaper!!
Even sometimes reading the whitepaper might deceive you more. I'm very particular about the Huge Returns Aspect. currently if you're joining any project it'd be better you join those that can have a real world use case and not those who'll promise unimaginable returns

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July 08, 2018, 01:35:38 PM
 #6

Wow, nice info bro. Thanks for your information, i will be wary for the next time if i would to invest.

thenxinhang89
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July 08, 2018, 06:03:44 PM
 #7

Some red flags for the beginners in the crypto world! Make sure to check these red flags before investing in any ICO.

1.CLAIMS OF HIGH, GUARANTEED RETURNS.
2.CELEBRITY ENDORSEMENTS
3.CLAIMS OF “SEC-COMPLIANT” (guarantees that their coins will trade on an SEC-compliant exchange where you can buy and sell them for profit)
4. INVESTING WITH A CREDIT CARD.
5. PUMP AND DUMP SCAMS.(Tempting you with guaranteed gains with pumps and dumps during pre ico to crowd sale)
6.Team members without any social profile. if they provide be sure to check the genuinity on basis of followers and background.
7.Language( grammar is correct or not)
 
and if you have done these be sure to read the whitepaper!!

Thank you for the information you provided. I will recollect it to have more experience for the investment
jtrick
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July 30, 2018, 07:33:38 AM
 #8

but sometimes its hard to distinguish which is scam or not Tongue
MeMuTop
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July 30, 2018, 08:54:41 AM
 #9

but sometimes its hard to distinguish which is scam or not Tongue

Even lot of them enter right here. No shame ;-(
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July 30, 2018, 09:29:50 AM
 #10

You still gonna see a lot of scammers, but one golden rule is money never come easily if we just want earn money and do nothing about it.
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July 30, 2018, 10:17:53 AM
 #11

We're living in a scam world, I've seen so many people losing money..
MeMuTop
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July 30, 2018, 10:27:35 AM
 #12

You still gonna see a lot of scammers, but one golden rule is money never come easily if we just want earn money and do nothing about it.

Yes, easy to declare, but in real world is not so... You see New Bounty Announcement, you participate, and after few days -> Ooops! That was scam!!!
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July 30, 2018, 12:53:23 PM
 #13

A nice list, but I have to agree with the others, celebrity endorsements are not always a scam.
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July 30, 2018, 12:58:10 PM
 #14

It's always good to remember how many bad people are out there trying to get your bitcoin. But I would add that just the fact that someone is offering an ICO makes it highly likely yo be a scam. Or at best an ill conceived idea by someone with zero business experience. These ICOs almost always ends with a loss.
Why even bother with them? 

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in AFRICA - https://bitcointalk.org/index.php?topic=2710325.msg27720734
ANNA_Systems
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July 30, 2018, 01:14:37 PM
 #15

However, this is not enough for scam and fraud detection(
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July 30, 2018, 05:55:00 PM
 #16

I've been fooled for not reading Whitepaper, consequently the money I invested lost. I will explore the knowledge of crypto, like other investors, even though all the conditions listed above are like my guidelines. but I am still exposed to a scam project. so, keep following the rules written above and use your instinct as best you can, because instinct will never lie.
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July 30, 2018, 06:09:42 PM
 #17

Another possible scam project could be that one that uses the term "blockchain" or "crypto" to advertise activities that have nothing to do with blockchain like for exemple the climate changement   Grin
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July 30, 2018, 08:49:53 PM
 #18

- check social profile of members
- try to get in contact with them
- do an image search on the (profile)pictures
- check how they communicate on twitter / facebook / telegram. Pay attention to their tone-of-voice

coinfunda
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July 31, 2018, 05:18:04 AM
 #19

Few telegram groups member contacted me to join signal group. Is there anything like signal?
mjglqw
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July 31, 2018, 06:10:36 AM
 #20

but sometimes its hard to distinguish which is scam or not Tongue

It's very easy to spot some scams with the characteristics that OP listed. But I also somewhat agree with you, because a project can look 100% legit and can possible still end up with them running away with your money. Screw ICOs honestly.

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