Why do people believe and invest in fraudulent ICO?

[bitcoinpeople1]

I don't think that there is anyone who would purpose choose to believe and invest in a fraudulent ICO. People mostly do do because they are of the opinion that the ICO is a good one, and then go ahead to invest in it, only to get scammed at the end of the day, and that's a really sad thing. Anyone who willingly invest in a fraudulent ICO, is probably in on it, from the get go.

[NewBet]

The thing is that people do not always know that they are dealing with fraudulent ICOs there are people that think that everything in the market is still legit, so they put a lot of money into them. It is most especially the newbies who do not understand how these things work yet. Then there are some people who think that they can make money from the coin before they tank.

[biznes35]

Because scammers all wrapped in such a good wrapper that the result they look cooler and more promising than many other projects.

[EverydayBtc]

I think some of the crypto investor know the risk in investing in ICO and they are betting that they will gain big profit from this. While the new investor dont know that it is a scam or fraud they are just a victim.

[Ferris419]

No one wants to invest in ICO scam, it's a suicide. They invest in ICO scam because they are fooled by the great appearance of the scammers and they just realized they were scammed when the ICO ended but it was too late. So investing in ICOs is risky and they must be willing to take risks if they encounter them

[amaterazu]

ICO is very popular because it can give us many advantages. So the situation is exploited by those who want to get money very quickly without having to work hard. They are trying to fool a lot of people by creating new ICO.

[Cactushrt]

As far as I heard, the ICO Scam raised over $ 1 billion. Why did people invest in these ICO? Do you think this situation has changed now?

What are your basis for a fraud ICO? I think most investors are based on what the price of the token but if project dont deliver product then its a scam.

[houjinglong]

Many people are actually blindly choosing to join the market after hearing the myth of the rich in the crypto market. So these people actually don't know what crypto is, and they don't know how big the risk is in this market. They all expect to get rich overnight, so there will be so many fraudulent ICOs released.

[Redg85]

hi mate! ofcourse people who invested in these ICO's are not aware that the project they thought are legit was a SCAM. who would have thought that they might be scammed, no one. they'd just chose the wrong project to invest with. these unfortunate people were definitely hammering themselves because of this wicked act of scammers. i feel sorry for them. cheers!

[bitcoindusts]

First and foremost, i'm sure they were not aware that the ICO was fraudulent.

A lot of people usually fails to check on the legitimacy of an ICO, basing their decisions on mere support they are seeing for an ICO. But as we all know, there are those who employ sneaky means of promoting their ICOs. Shilling has always been a popular method of choice for many, creating an effective band wagon if not irresistable.

So be very wary, scam ICOs had been tainting the world of tokenized crowd funding in a bad light. Scrutinize more and be safer.

[Olatunjex]

As far as I heard, the ICO Scam raised over $ 1 billion. Why did people invest in these ICO? Do you think this situation has changed now?

I think most time, it is not the fault of the victims , they are newbie who doesn't know much yet about how blockchain technology work. This criminals made them to believe they will deliver with a lot of deceptive advertisements and roadmap.

[X-ray]

of course because the person is not careful in determining the ICO. people are currently following the ICO because they expect big profits from there. if I have assets, it is better to buy altcoins / tokens that are already listed in the market and have cheap prices at this time. because it could be the price will increase at the end of the year

They will will always think about how much profit that they can grab from investing in the ico. they are using the pre-sale price as the main price to determine how much their profit after that will have listed on the exchange site and they are playing on so many speculations about the future of ico and it's called ico trading.

[Taniya1901]

Because people want to get rich and do not understand begin to invest (trusting rating or telegram channel that promises a lot). Before investing it is necessary to acquire at least basic knowledge.

[Platon ES]

There are many ICO projects, but unfortunately, around 70% of them are fakes. To catch the the proper project is not possible for everyone. Exactly that’s the way how people invest in fake ICO projects.

[joel123]

I don't think that this question is right, because people do not choose to believe and invest in fraudulent ICOs. they are made to believe that it is a good one, and so they put some investments in it. Think of it, would you willingly put your hands into something that would hurt you? Definitely no! same for these people.

[sladkoejka]

Well, the scammers do not write on their site that they are deceivers. Now it is very difficult to recognize scammers and the situation has not changed

[Nivelir]

Because people who trust such projects have only two options or they will try to test their fate with the help of similar investments or they simply will not do anything. Because they do not have a third option, it's their problem.

[CodyAlfaridzi]

As far as I heard, the ICO Scam raised over $ 1 billion. Why did people invest in these ICO? Do you think this situation has changed now?

Greed, that's why. Most people rush when they got blinded by greed, they ignore potential issues, scam warning, etc. Yeah, I think the situation is slowly getting better. I've read somewhere that the money raised by ICO is currently dropping starting from 2018 and hit a new low in this quarter. That's a good news. I just hope that the entire ICO hype would just die eventually. All those money poured into ICO could be a good use in some other project that bring real benefit instead of the pocket of the ICO team.

[beeelzebub]

They mostly don't know it is fraudulent after it is too late.

Some scams are looking really good and some is offering amazing things and people want to believe.

[ShowOffoN]

Most of the times, those who have been scammed wanted to get rich overnight hence grabbing the opportunity which they think can give them just that. Investing in cryptocurrency does not work that way. Yes, it can probably make you rich. I've seen people who have made their way in becoming rich thru investing in cryptos but not overnight. It takes a lot of patience and waiting so no rush to avoid being scammed.