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Author Topic: How is the best way to tell a fake ICO  (Read 145 times)
airdrop291
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July 04, 2018, 03:50:05 PM
 #1

Hi Forum

A quick question if I may since taking part in airdrops I have noticed that some are disappearing quite rapidly, and I wondered what was your best way to spot a potential fake ICO?

leave your answers let's see if we can prevent people from losing money

Airdrop291
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July 04, 2018, 04:03:30 PM
 #2

All fake!
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July 04, 2018, 04:26:06 PM
 #3

Well as far as i know no one can determine nowadays  which is legit ICO project and not due to some fake project as well that always hidden behind on it. But try to gain some feedback first on any ICO where you want to invest maybe it can help 'cause indeed feedback is the most important nowadays and a big help to easily determine the reliable projects. Regards
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July 04, 2018, 04:31:37 PM
 #4

Hi Forum

A quick question if I may since taking part in airdrops I have noticed that some are disappearing quite rapidly, and I wondered what was your best way to spot a potential fake ICO?

leave your answers let's see if we can prevent people from losing money

Airdrop291


Usually i used to check coinschedule.com. in that website we can find top 10 ICO, from those ICO we should filter the best ico based upon our researching skill.
First gothrough the ICO whitepaper. Then choose the project based upon good managers like yahoo. Finally check linkdin and telegram team.

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July 04, 2018, 04:39:22 PM
 #5

I'm still new to ICO's but as far as I know, One should first check the members of their group in their telegram or ANN or even facebook, If there are lots of people that are potentially fake or just posting just to make the project look good, then you should beware about that . Next are the exchange, potential of project to earn, and ofcourse the unique feature that the project has to offer.
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July 04, 2018, 04:41:20 PM
 #6

To find a scam, you don`t need some super-techniques, machine learning and working with large data, but diligence, attention to detail and in proportion to investments, the time spent on researching ICO projects. Scams can be distinguished by too bright descriptions or, conversely, confusing definitions, of which little remains clear after reading.

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July 04, 2018, 04:45:34 PM
 #7

I think that best way is going to check how the ICO is publishing itself.
If they are doing it by publishing the project then we are good, but if they do so by publishing how much money the investors can make from investing in the project- it shows that they are really greedy and shouldn't be trusted.
On the other hand- a also very storng indicator to consider is the devlopment team, if the team is unable to show a record that they were able to go out with simillar products or that they really have the ability to finish the project then I wouldn't invest in them either.
If the team is unable to finish the project your investment will probably ended up as a loss.

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July 04, 2018, 05:34:59 PM
 #8

Hi Forum

A quick question if I may since taking part in airdrops I have noticed that some are disappearing quite rapidly, and I wondered what was your best way to spot a potential fake ICO?

leave your answers let's see if we can prevent people from losing money

Airdrop291
If you are talking about airdrop then most of the airdrops are fake and never get listed on the market which the owner thinks that they would and he makes that token in order to sell that on exchange when it gets listed to get a profit for risking just a small amount of money. But the fake ICO are now a days pretty hard to identify as the scammers also spend a lot of money in marketing and making fake profiles of team members, so it's pretty hard to identify a fake ICO.


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July 04, 2018, 05:47:37 PM
 #9

i think icobrench can help , but its not all , hard to look it easily , you need to do research at least read the white paper to determine it fake or not

airdrop291
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July 04, 2018, 07:53:07 PM
 #10

I have looked into some ico's in depth and the ones i steer clear of are where there's spelling mistakes in the whitepaper on the site, as I believe if you're going to release a paper then it must be proofread prior to release.

I also see lots of sign up forms with errors broken links I steer clear of these also, and some are crazy enough to ask for your private wallet, well these I'm pretty sure are fake.

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July 04, 2018, 08:00:00 PM
 #11

You cannot tell fake ICO so easily man, it is considered as a fake ICO after they revealed themselves as fake ICO by leaving their social media and website. There are way too many for ICOs to consider this or that is fake ICO so make sure you prove the legitimacy of an ICO by reading all their documents and licenses.

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July 04, 2018, 08:01:30 PM
 #12

 firstly its better to check web page and white paper and other documents, secondly follow their social media links and groups such as telegram, twitter...because fake ones usually not sending message. Look at the team and check their KYC from ICO ratings websites.

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July 04, 2018, 08:06:59 PM
 #13

You need to be observant, don't just join bounty that you have seen has many participants but indeed explore things and find in yourself and evaluate it, there are lot of whitepaper out there who are also good in writing so don't depend on them but rather find leakage from the team their sites, vision and many more.



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July 04, 2018, 08:10:18 PM
 #14

As far as I know that a fake ICO has some features such as a really bad website with bad UI design, a messy whitepaper, an unclear roadmap, etc. Also, they have some fake info on twitter which it is easy to check. Another point is that they may often offer you a really high bonus for participating ICO (private sale, presale).

Another tip is that checking some red flags or review about the ICO by some influencer is a good point to suspect.

Any other tips?

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July 04, 2018, 08:13:23 PM
 #15

Hi Forum

A quick question if I may since taking part in airdrops I have noticed that some are disappearing quite rapidly, and I wondered what was your best way to spot a potential fake ICO?

leave your answers let's see if we can prevent people from losing money

Airdrop291
I think, now very rarely or I do not find fake ICO this year. After a few months ago some big countries set rules for ICO, I can not find any more fake ICO.
All you have to notice now is fake Airdrop. If the project is not running and is not trusted I suggest you do not combine with the Airdrop. Because now many Hackers who do the attack from the Airdrop data.

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cetald
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July 04, 2018, 08:28:13 PM
 #16

First of all, check the project on ICO-trackers. Also check the site and social networks. Well, of course the branch bitcointalk.

bellamente
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July 04, 2018, 08:29:16 PM
 #17

To understand this fraudulent project or not is very simple

Study the team that is working on the project. Look at the advisors of the project and the potential of the product itself.

AjithBtc
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July 04, 2018, 08:37:23 PM
 #18

Those ico's doesn't have a announcement thread in specific. They try to make every communication through dm. What they expect is few investors to make an investment. This is just a trap, and here most of the users who get caught were new people to the network. They don't know about the reality, but with the minimal knowledge they just try to get the best out of the investment and realizes that they have got cheated after a long time.

   
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Jayleon
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July 04, 2018, 08:51:30 PM
 #19

Hi Forum

A quick question if I may since taking part in airdrops I have noticed that some are disappearing quite rapidly, and I wondered what was your best way to spot a potential fake ICO?

leave your answers let's see if we can prevent people from losing money

Airdrop291
Without inside information it would be difficult to predict the 100% authenticity of ICOs. However some indications include:
- the projects idea: how broad and innovative it is.
- the team: how connected they are and their partnership for the project. Normally the partners have physical interactions with the team, so if the partners are reliable then they can help phish out the fakes. So if no real or established enterprise is partnering with this team on their project then it is suspective.
2fresh
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July 04, 2018, 08:53:07 PM
 #20

Just keep in mind the majority of the ico's fail, maybe then you'll think twice about investing into them.
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