What is the ICO Scam "blueprint" all of these BAD ICO's are following?

[CryptoGamblingSites]

With ICO's a known way for scammers to create fake projects and steal people's Ethereum or Bitcoin, what do you think a "blueprint" that all of these fake ICO projects follow?

We compare ICO's to Nigerian Prince e-mails from years ago in our ICO Scam Blueprint (more of a joke than actual guide). Curious what other people look for when spotting scam ICO's?

Over 500 ICO's and altcoins that have previously launched, are currently dead and a few hundred more by this time next year. The more people new to crypto know to stay away from MOST of the projects launching, the better (in our opinion).

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[redrose8226]

This is a right actually. Now there are many scam coins that are coming to this market. Most of these scam coins are at the launching stage. Investors need to be very much careful when investing in a new project.

[learningcrypto5421]

This is more like a movement by the users. Given the market enlists new projects almost every day, these are the launching stage.And this is where they need to be speculated in order to secure ourselves from scams.

[CryptoGamblingSites]

The problem is the ones that start with good intentions can even fall short of ever producing anything, either because of a team fallout or the actual technology not being possible.

Then we see the few bad people attempting to make it look like they have good intentions when they just want to steal people's crypto.

And then there are projects like Tombola (who we are actively arguing with now), that appear to have good intentions but don't understand how regulators and legislation works for their project to ever get a return to investors.

Or the Alive Casino ICO, where they don't even recognize that their "innovation" is already live with a real money gambling site. How they will make money? Who knows? People will give them crypto though to go and try.

The waters are so muddy that investing in anything, while altcoins and tokens continue to drop, seems like such a huge risk currently.

[cryptohopes]

I like your idea. If the price increases, it sells 75%, and holds 25% in the future, there is a chance to gain more in the future. Because Bitcoin is the most profitable and secure.

[FunZedCrypto]

if you are trading with online sites then you must have to deal with scams,  unfortunate but this is true but the fact is you consciousness can protect you from this that is why doesn't take any decisions by get influence by others

[CryptoGamblingSites]

Because Bitcoin is the most profitable and secure.

Because Bitcoin is the most profitable and secure.

Because Bitcoin is the most profitable and secure.

Because Bitcoin is the most profitable and secure.

THIS GUY GETS IT

[Emence]

I think we should be careful for make us safe from scams. I don't know about the blueprints but it looks like they spread their fake projects with mouth watering marketing.

[lushlife]

This information is quite useful, we could use this to spread awareness
because many investors now specially the new ones are scared to enter
ICOs because of scam ICOs.

[cryptodreem]

ICO is more popular day by day for quick benefit. But there are many scam ICO appeared rapidly and newbie’s feel trouble to invest ICO because the are confused which one is reliable.

[SweetSin]

They just allure people by giving fake hope. There are lots of people who don't want to do researches before investing which is a really bad practice.

[Vlad_m]

There are many ways to assume, but it is hard to know 100%

First of all, you can do your research through the whitepaper, team, social media.

Also, a sign would be the absence of famous advisors or mentions in trustworthy media.

If they ask for your private key - it is an instant no

If it is a DApp like a blockchain-based game, you should always look for a smart contract.

These are basics that come to my mind for now, but there are many more professional methods to find the scammer

[robertcross07]

I don't think any specific blueprints are needed. What they do is creating hypes. If people don't do investigation they might be fallen into their trap.

[Chapics]

it has been repeatedly written about ICO scams. and I don't see any good ICO today. so again - be careful in choosing ICO.

[tk808]

The easiest first tell into understanding and realizing a fake ICO is simply by viewing their telegram and or twitter. If there are thousands, tens of thousands of accounts subscribed to that particular channel, and that coin just launched like 1 week ago, then chances are it's a scam ICO or get-rich-quick scheme.

Don't be seduced by the perception everyone is getting into a coin by the number of followers it has, don't follow your instincts to bandwagon, because you will lose and the scammer will win.

Again, one easy tell is just to view the number of followers on telegram, twitter or etc a coin has. No coin will ever reach 10k+ subs or followers within 1 month or 1 week of launching, unless it's been blasted by major media outlets to no end, ex telegram's ico.

[CryptoGamblingSites]

Don't be seduced by the perception everyone is getting into a coin by the number of followers it has, don't follow your instincts to bandwagon, because you will lose and the scammer will win.

Again, one easy tell is just to view the number of followers on telegram, twitter or etc a coin has. No coin will ever reach 10k+ subs or followers within 1 month or 1 week of launching, unless it's been blasted by major media outlets to no end, ex telegram's ico.

That's why the bounties should stop.

It's become it's own economy of trolls creating noise about ANY project that offers people free shitcoins to dump....

[InfiniteBlock560]

Most of the ICOs that later proved to be scams will have shady roadmap, wrong information or totally false information regarding the team behind it and will not be listed in any reliable exchanges. There are not any basic set of rules to be followed like blueprint but you can definitely identify by checking these features out.

[ExceedBlue012]

I, personally always check for credibility of the team first. I still remember that I found a ICO who gave away false information regarding their team and I knew from before that they were scam. Other than that, check their community profiles and Whitepaper. Shady roadmaps also indicates that the ICO is a fraud.

[Jeremiesaranza]

I think that people just went crazy trying to bite a peace of the blockchain pie so they don't read or listen to anything meaningful and trying to get rich as fast as possible. Nothing helps, it is a pure compulsive gambling...

[sufiasyl]

Many projects are being scammed for various reasons. Some are intentionally coming to the market for doing scam. But some are going to be scammed because of their poor management, failing expected fundraising, unable to gain targeted investors etc. Before investing in a project or joining in a bounty program, everyone should review the project from inside.