If an ICO team is anonymous, is it a scam?

[thesmallgod]

Holistically the project might be a scam and it might not. most project like this are those that do not really believe on what is likely to happen to the project on the long run and that is the reason why most of them prefer anonymity. I have seen such project that latter turn out not to be scam but during the early development, the team do not really revealing there identity but as soon as there are major breakthrough, they started doing video interviews and attending conferences.

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[xbossJ]

That's how I would describe the ICO! A Scam! How can a team whose intention is to get money from people and invest it with hope of succeeding, not be bold enough to have their identity known?! If there are no ulterior motives why hide yourselves, these kind of projects/ICOs are to be avoided with the utmost seriousness! They are scams and nothing less than this! If you invest your money in them, you stand a chance of losing all.

[kendedes]

I think that isn't 100% true if the team behind a project being anonymous would be a scam.
But we should always be careful in this cryptocurrency, cause with a complete information in some project could also end up being scam.

[great.crypto.finansist]

I do not trust projects that hide their teams. Together with a high-quality product, the development team is one of the most important parts of successful development, so I don’t consider projects for investment that don’t provide a team. After all, according to her, I judge the experience and professionalism of people who are developing an ICO project.

[trudovik]

I believe that the team should show its faces, if it does not show them, then the project can be considered general, then you need to show all the code and declare the project open source, so you don’t need to collect money for it.

[AgentZero23]

Why would someone invest in some projects knowing the team is anonymous. More like you are giving your hard earned money for free and it's easy for the developers to run away with investors money. You should not be investing in some anonymous devs and stay away with this kind of projects unless you are so dumb.

[waldocarter]

I don’t understand how to invest without knowing where? Personally, I would not have made such an investment. Should there be guarantees, who should make claims if problems arise? Also anonymous?

[IKZIR31]

If the ICO team is anonymous, it is likely that Ico is a scam, there has been a lot of ICO that scam is unknown to the team. it's better to avoid ICO like that.

[Akpuv]

The Virternity mentioned in the original post is not the only project with anonymous team. Even the Ethereum Limited which appears to be having a successful ICO has an anonymous team. I am waiting to see how the project concludes. I can't tag it a scam yet.

[dizzy1996]

In my opinion, the project team is his face, and his face should always be open, but, of course, there are projects that hide their team, but I think that this is unfair for platform investors, because it turns out that they donate their money to someone then, and based on that there is a lot of distrust towards such projects.

[TamaraKul]

I also have to admit that today projects with an anonymous team are almost always fraudsters. For me personally, they absolutely do not deserve any confidence. Before investing my money, I always carefully study the features and perspectives of each ICO. And it is the information about the team that becomes for me the most important criterion of a suitable choice.

[tisoysoy]

I also have to admit that today projects with an anonymous team are almost always fraudsters. For me personally, they absolutely do not deserve any confidence. Before investing my money, I always carefully study the features and perspectives of each ICO. And it is the information about the team that becomes for me the most important criterion of a suitable choice.

Nope, that's not what we bases for but through there platform that they promoted .We are all anonymous here so don't just believe for that. Just be focused with yourself how it can choose a legit one because that's the importance.

[capableuwa1]

I would not put money in an ico where the team does not show itself in public.
Something like that just does not give me any confidence.
But everyone has to decide for themselves what he does with his money.

Yes I agree with you. ICO hidden their profile simply means it is 92% Scam which might turned out to be 💯 Scam. But even those that display their profile out there are capable of doing such to investors. So one have to be careful and carry out more research before investing in any project.

[Meizu]

When deciphering between legit and scam ICO's, one of the main things everyone says is "you have a look at the team and see if they're transparent."

The thing is, the whole ideology behind decentralization is that it gives the public control over the economy's trajectory, rather than centralized and specific entities.

I see the Virternity Project, for example (https://virternity.com/), which prefers anonymity, but I'm not sure it means it's a scam ICO.

from their FAQ:

"Why aren't you revealing who is in your team?"

"The members of our team are enthusiastic about the idea of creating the Virternity space for the whole world. We want to avoid “buy-outs” of our specialists and co-workers, and also avoid pressure on them.

Also, given the limited financing at the initial stage, we are using anonymity as a shield for our technological secrets—the specifics of our current and future developments.

Many members of our team have serious jobs in major firms and do not want to advertise their participation in a non-commercial project, in order to avoid conflicts of interest.

In the future, once these factors are less of an issue, we plan to publicly name the founders and key personnel."


Satoshi remains anonymous..

Thoughts?

I believe there to compare Satoshi uncalled for! As far as we all know more than half of the projects and so are fraud, and if we still invest in anonymous projects that we do not even show their identity, for me it's too much, so I'm such a dubious projects bypassed.

[anobtc]

Of course, until now, an ICO that wants to succeed requires a really strong team. Because they are the majority decision of the investor when researching a project. If anonymous team is better then you should ignore them.

[Catmurs]

For the most part, Yes , you do not need to invest in anonymous creators , now it's mostly just a Scam and you will be divorced, invest where the team is open !

[MSTuTeJIb]

Now few people invest in projects that do not see the team members. How can you invest in such a project? The first thing you need to look at the team, their past work and projects.

[boranes]

What obligation someone who is anonymous and can't be found anywhere has to investors? Non. Someone collects cryptocurrency worth millions dollars and they don't need to continue with project because they already have funds collected, and why would they continue? It is easier to move to new ICO and collect funds again.

[Muhtaixa]

Yes, definitely scam!
Satoshi didn't ask anyone for money when he set up this system. He didn't say anything to "send me money." On the contrary, he gave himself a great gift to the world.
Now icos are completely based on collecting money from people. And if you want money from me, I need to know who you are!

[JayCue]

The main purpose of decentralization is to have anonymity. But it's really hard right now to join in a project when the team is anonymous because most of them turn into scam.
Not all but most of them.