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

[buharikx31]

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?

Indeed if they provide enough proove about their real jobs and their real data, but not everything it doesn't mean that they are trying to scam somebody, but market right now so bullisht that you can expect anything to happend with ICO's they are trying maximally make you to believe that company are legit and everything but better to trust other people reviews about the project before investing

[ngano ba]

There are big possibilities that ,if ICO team is anonymous the project they promote might be a big scam, even a.normal project which are full of details are turn out to be a scam, how much more if an ICO is anonymous team personality so what are they hiding if that is a true ICO project, you can convinced customers through the transparency of a certain ICO project.

[tom14cat14]

Well it depends... I don't really think that every project with anonymous team is a scam. Look at Bitcoin, the person who is behind it is unknown. Can we call Bitcoin a scam?

[white_star]

Well it depends... I don't really think that every project with anonymous team is a scam. Look at Bitcoin, the person who is behind it is unknown. Can we call Bitcoin a scam?

Not at all, they are just not putting there names in ICO, just to prevent there IP and personal information about because they are highly investors that having a lot of income. If they are able to put then they are in risk for those scammers so I think it's normal for them to have privacy .

[Cryptrx]

It takes a lot to trust an anonymous party to not to bail on you along the line. When people put their face and name behind a project, they will do everything possible to protect their name.

[Marcsymon]

Well not all, because there are many anonymous ICO that are succeesful with their project and have great development in the market. But there are many also which are scam and mostly it was, so as much as possible we should avoid joining ICO with anonymous team at this present times.

[Semaj123]

If you think you are in doubt about the issue then better if find a project that has a complete information so that you don't need to worry about it. There's a lot of ICO project in the crypto space so do some effort to narrow down your research.

[grifinmch]

is there a specific reason why it being anonymous? There were a few anonymous ICO but quite successful even though not all of it. But if your looking for a safer and more confident indeed when there is an identity or background of the available teams. There's even an identity on a team just keep there is still a scam and if there will be many who do research stuck.

[KOF97]

If the ICO project can provide us with a real office address and company legal documents, then it may also be true! Even if it doesn't provide us with team members!

[Anatoly339102]

I would not trust such projects in which the development team anonymously.  Developers and the roadmap are the main things that the investor needs to pay attention to before participating in the ICO. If the team is hiding their names it is necessary to ask the question - why do they do it?

[niteroy]

I can not remember a single project that would have an anonymous team and was successful. The fact is that if the team is anonymous, then how will they sign agreements, negotiate with private investors, pay for listing their token on the stock exchange, and in case of any failures, who will be responsible? I took part in several ICO projects in which there was an anonymous team, but the interesting idea of ​​the project and all these projects brought me a loss, so now I choose projects with an open and sociable team. The only successful project whose creator was anonymous was Bitcoin.

[ElenaN]

In my opinion, not the best idea to participate in such an ICO, because the consequences can be dire!

[dat.ho12492]

I would not trust such projects in which the development team anonymously.  Developers and the roadmap are the main things that the investor needs to pay attention to before participating in the ICO. If the team is hiding their names it is necessary to ask the question - why do they do it?

Indeed, such projects are really unreliable but we can not say they are a scam project because, as your question, I think they have a reason to do so, and of course, they can also become successful projects if they have good ideas and plans. However, this rate is probably very low when many people do not believe in projects without clear information, and that makes these projects impossible to get enough capital to start the project, so, I think whatever the reason, the projects should also provide enough information to get the trust from the investor.

[Gatotare]

You must be very careful in crypto market and you are asking that I dont know who are the team members and is this bad? Of course bad, they collect money and then disappear so how you will get your money back, you cant. So you should not invest to this type projects.

[trinaldao]

Anonymous team in ico is big scammer, we cant know who backend the project except like bitcoin anonymous team and without ico

[Fedrey]

You must be very careful in crypto market and you are asking that I dont know who are the team members and is this bad? Of course bad, they collect money and then disappear so how you will get your money back, you cant. So you should not invest to this type projects.

if the requirements of a team always force all participants of the Bounty companies and investors to be honest and transparent in their activities, then the team members themselves must also be honest with their colleagues.

[myohmy81]

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?

People can directly conclude that your project is a scam because of no personal identity being shown. How can a investors know who the person behind those project if the team will not reveal itself. I seen many projects failed even if they have the best team on that field. Then, how much more on the ICO with anonymous team? I think you can't collect enough money from ICO for being anonymous. You need to consider the current situation that we have many scammers.

[Gyromancer]

Yeah, indeed we should not immediately give a judgment that an ICO is a scam just because it sees that the ICO team is anonymous. But I personally will not take part in the ICO if the team is not transparent. One of my considerations when choosing ICO was the name of the team and the name of the advisor so that if I did not know clearly who the team and its advisors were, then my trust in the ICO had diminished.

[dongyi17]

  Well.. there is possibility because if they're not, why do they have to hide or to put some other names, legit one do not scare to show who and what they really are and what their business is, how can they expect people or bounty campaign to help them in their project if they anonymous and besides how will their project be advertise in a first place.

[Utuhikan]

I will not take part in the ICO if the ICO does not display the name of the team and its advisor. In my opinion, this ICO is not a responsible ICO so that this is one indicator that the ICO is more likely to commit fraud. A good ICO should be ICO who bravely clearly shows who is responsible for the ICO. My advice, you don't need to take part in the non-transparent ICO than you only bet with a big risk of loss. It is better to choose another ICO because there are still many ICOs that are transparent and responsible.