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

[wxa7115]

intentionally keeping the team members secret is also good for avoiding pressure from outsiders, especially if the project has the potential to be large and good, many people will certainly put pressure on them.
This depends on how they can give a sense of trust to investors and followers, such as the way used by Satoshi Nakamoto.

It depends, satoshi did not reveal his real identity but he never lied about who he was either he never presented fake information to try to disguise his identity, he just make sure that no one could ever know who he was, he did this because he knew that in the future he could be accused of some wrongdoing if the governments tried to find who he was and accuse him of some crimes as we know it has happened before to those that tried to create a new currency.

But most of the people that are trying to create a new cryptocurrency are not hiding their identities because they are afraid of that, they are just scammers that do not want to reveal their identity because they want to get away with their crimes.

[Esterklu]

Not sure it is scam, but it is very high risk ICO investment. I don't recommend anyone to participate in such kind of ICOs.

[okeanos]

I would never invest any ICO which has a  anonymous team. Why they need to be  anonymous? If you are doing a crowdfunding then investors have a right to know team experience in every detail. There is no way to pay for a  anonymous ICO for me.

[Vilagra]

anonymous team doesn't necessarily mean that a project is scam, it is a normal desire to stay anonymous for crypto, for example Satoshi. But in other way it is hard for investors to determine if they can trust this project.

[TACIXAT]

anonymous team doesn't necessarily mean that a project is scam, it is a normal desire to stay anonymous for crypto, for example Satoshi. But in other way it is hard for investors to determine if they can trust this project.

But satoshi never asked for investment. They just released the code. So many people now are asking to fund their development anonymously, no code.

[itasannah]

A project that has an anonymous team does not mean they are a scam. But we also have to be careful about that. Everything must be open and the team must be experienced so that many people know about it. You also have to do research, but if you are not sure you do not have to invest in the project.

[sepa]

Of course, the team should be visible - this is the face of the project.

[ajdaj]

This position of the team is alarming. The first thing I think about is that we have something to hide and do not need extra responsibility
at a minimum, you can open the faces of the founder or founders of the project, not the whole team
or enlist the support of a famous project or person

It seems to me that if there are any omissions from the company's ico team, it should in any case alarm all potential investors. It seems to me that if there are any omissions from the company's ico team, it should in any case alarm all potential investors.

[trader4fun]

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[kenjionline]

If the development team wants to remain anonymous, they should at least have a beautiful white paper and be active on github. If this is not, then we can assume that the project is a scam.

[swordling143]

There is a huge chance that it is a scam,
The question is would you invest in their project?
Would you trust them with your money?

[thinkright]

Not all projects with anonymous team members are always scam. Some bad guys capatilize on this to rip off investors. I recommend doing enough research and letting your intuition guide you with such projects. After all those with explicit team members sometimes turn out to be scam in the later.

[AnDoom]

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 think it's not safe to invest in a project where the team is anonymous

[West0813]

There is a high posibility that those ICO with anonymois team is a scam. But i think not all are scam. And its really hard to trust those projects.

[Febo]

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

Yes!

ICO is crowdfunding founds for a project. If you cant identify team then you can hold anyone to deliver project.  ICOs are a securities and not a cryptocoins.
Developers of cryptocoins  can be anonymous since anyone can fork their project away since is open source. And that often happens.

[coinic]

There is a high posibility that those ICO with anonymois team is a scam. But i think not all are scam. And its really hard to trust those projects.

Yes, it is quite possible that it turns to scams because they are just only depended in market if it has a good fluctuation then it will goes to a positive result as well.  Bur now that it always encountered hype a big possibility for that.

[hildacitra]

I can recommend to skip ICO with the anonymous team because you can loose your invested money. Don't risk your money if you're not sure about the project. Satoshi didn't raise money!

I absolutely agree with you! why we have to waste our time and money just for anonymous ICO that we aren't sure about. you might lose out or even nothing. we had better to avoid this case to safe ourselves. ICO with concrete team doesn't determine that the project is whether scam or not, moreover ICO with anonymous. so we have to be careful to choose ICO in this present time.

[Goldleader]

Yes that's a big sign for a scam . just move away and find a highly rated ico instead

[gunhell16]

Team members and developers should be on their list or on the website.
People need to look for something which they can hold and trust.
If the team will go anonymous then where is the trust in both parties?
Most anonymous projects went to junk and the team ran with the funds.

[Benniek]

This would definitely be a red flag for me.

Even when the ICO team is listed, it doesn't guarantee a project is legit.  You should always be vigilant and do some extra research before committing.