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

[dizzy1996]

The question is ambiguous, but in my opinion, the project team should be public because in case of project failure, someone should be responsible, and also return funds to investors, and in cases of anonymity it becomes difficult

[Ranly123]

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?

Nowadays, anonymity in the project is rampant but in ICO there should be a team running their platform. So it should not be anonymous for investors to know who they're dealing with in the business whether they trust the team or not.

[HappyCaptain]

well because there are lot of fraud projects recently, investors are tend to look for the background of team members although not all ICO with anonymous team are scam but investors nowadays want to know the identity of the team behind the project since they are investing their hard earned money.

[danggoron]

The question is ambiguous, but in my opinion, the project team should be public because in case of project failure, someone should be responsible, and also return funds to investors, and in cases of anonymity it becomes difficult

Clarity and transparency of the project and the development team can increase public trust. But for investor refunds if the project fails it is almost impossible. In the white paper, almost all Ico projects insist that there will be no refunds, so we must be prepared for those risks.

[george_hured]

Why will a team of a project decide to be anonymous and they are expecting people to invest in it. To me any team that can't come out clearly about their project and be proud of it is no go area either if it is scam or not scam.

Often, it is just such cases that lead people into a big mistake because people, after they understand that they will not bear any responsibility, they begin to seriously say that they are real, but do not really show themselves.

[likit123]

The anonymity of the team is clearly worried. I believe that the team must first be public. Many bounty hunters, choosing a project, are guided by various factors, including the team.

[shulc7]

Pay close attention to the people who represent the project and who takes responsibility for project future development. That is why I don't recommend to have any deal with startups that have no real names on its web-pages.
Also you need to check previous investment in this ICO.

[Utuhikan]

Actually if the ICO team is anonymous then ICO is not necessarily a scam except that the confidence in the ICO is reduced. Many investors are hesitant to invest their money in the ICO because surely the ICO is considered irresponsible. Honestly, I myself do not believe in the ICO if the ICO team is anonymous. I better not want to take the risk of joining the ICO. I better look for other ICOs that are more responsible. Although it's not necessarily scam but I always see who the ICO development team is if I want to decide to take part in the ICO or not.

[ronnis.gomes]

Obviously having access to the team profile behind the ICO project is important to know if people have professional experiences that can successfully lead the project.
And that's an added security for investors. But we can not say that ICOs with anonymous profiles are all scam as well.

[oper802]

Who would we run after if they run away with our money, this is ICO we do not give our hard earned money to people we don't know or even the location, if this is an airdrop it is ok but there's a lot of risk if the ICO and the team behind it are all anonymous, I treat it as a potential scam.

Yeah, I have the same idea as you. It's very important to know any pieces of information about the team. If they do not have that, then who will responsible for anything happened to us then?
Just be more careful before deciding to join any ICOs.

[tinystone26]

I don't usually do some interrogation techniques to the ICO teams to invest with my money because I don't have much time to get their personal informations. And I think even they are anonymous not all people behind the ICO teams are going to scam are investments because I participated some ICO's and don't scam my investments.

[Sephire]

I think if all of the ICO team is anonymous, then it is very likely to be a scam. Given the choice of so many other ICOs and existing coins, why risk your money on an unknown team.

[chipzeru]

Things have changed. Since there's a lot of scam ICOs, revealing the team member is a must today to gain a trust from investor. Even though there's still a possibility for an ICO project that has revealed its team member to be scam, at least we know the people who will be responsible.

[Fluxtorrence9]

Stay away from any project that has anonymous teams behind it ,they tend to go scammed anytime any day ,even ivdont get interest in coins that has anonymous teams ,I don't want to start mentioning names ,but coins still better because I've seen some coins that are still alive after three years now with anonymous teams but with tokens ? Don't even try it

[johnleo]

Common advice is stay away from that ico, but wait because sometime there was a good project which is anonymous but we must make a deep analytic into such project, if we can't make deep analytic back to common advice, leave them. For me, the real scam is ico project that using fake team, such ico is worse than anonymous team.

[reality18]

The team of a project must be always ready to come to the public to share the concept behind the project in order to promote the product and ICO. What happens when these team members hide behind the scene without participants knowing their true identity? This gives most investors the impression that the project may not be a serious one or may be a scam.

[senin]

Now we all see a large percentage of fraud in ICO projects. Therefore, ICO teams must prove that they are not scammers precisely because of their openness and transparency. If the ICO team does not want to call themselves, it is very convenient for fraudsters, they only want to send millions of dollars in cryptocurrency to beautiful streamlined words about their intentions. No, such an ICO command should be regarded as fraudulent, so that there it does not explain in its own defense.

[george_hured]

The anonymity of the team is clearly worried. I believe that the team must first be public. Many bounty hunters, choosing a project, are guided by various factors, including the team.

That's right, even bounty hunters will definitely choose projects where people who don’t hide their data will be shown, so I think that today you need to completely enter your data if you want to hold an ICO

[Prohodimec]

If the team wants to remain anonymous, this does not mean that their ICO scam. Probably they have a reason, but personally I would think about investing in such projects. Choosing between a good ICO, team members who are not anonymous and a good ICO with an anonymous team I will choose a non-anonymous team. But the choice is yours.

[george_hured]

If the team wants to remain anonymous, this does not mean that their ICO scam. Probably they have a reason, but personally I would think about investing in such projects. Choosing between a good ICO, team members who are not anonymous and a good ICO with an anonymous team I will choose a non-anonymous team. But the choice is yours.

In most cases today, investing in projects that have anonymous teams is still not popular, it was not necessary before, but now, during the period when people understand that they are being deceived almost every day, people want to see people's faces.