FIGHTING AGAINST ICO SCAM

[awawo]

I think the experience of the year 2018 has affected most of our zeal to take part or promote new ICO because the year 2018 saw a lot of ICO becoming failed or scam ICO and that has made it very hard to see new projects with positive MIMD set. Most ICO take people money and run away without having any working projects that support they product leaving you with only shite coins.

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[Successv]

Now there are a lot of fraudulent projects, and most likely it is easier to publish projects that you can trust!

[hakertajniak]

2018 WAS A TERRIBLE YEAR BOTH FOR HUNTERS AND INVESTORS TOO MANY SCAMS AND FRAUDULENT TACTICS USED BY CHILDREN CLAIMING TO HAVE SOME IDEA WHICH THEY NEED A FUND RAISER FOR...

As a bounty hunter.. the worse thing that can ever happen to you in the crypto space.. is promoting a scam ico unknowing to you it's a fraudulent company

I AM CREATING THIS THREAD TO HELP SPREED THE AWARENESS OF FRAUDULENT PROJECTS WASTING OUR PRECIOUS TIME AND STEALING THE HARD EARNED MONEY OF INVESTORS..


PLS KINDLY PUT DOWN THE NAME OF ANY COMPANY YOU THINK ITS SCAM AND NOT WORTH INVESTING ON AND GIVE REASON WHY IT SHOULDN'T BE TRUSTED
..

THIS WILL HELP BRING BACK THE TRUST WE ONCE HAD IN THE CRYPTO SPACE AND MAY ALSO GIVE LEGIT ICOS  THE CHANCE TO RAISE ENOUGH MONEY AND KICK START THEIR PRODUCT

Yeah, it was terrible because there are many investors lost their money, i remember about Titanium ICO.
It was a big scam that has raised over 30 million dollars i think.
Even there are some legit ICO for now, the investors still very caution to choosing the projects, causing many ICOs failed to raise enough funds.
Spreading awareness to reduce scam is a good move.

[vanya.pronin.1983]

You have a good idea, but I think if somebody has detected a scam project it is much better to open up a new thread, because there are too many scam projects at the moment and we won't be able to cover everything under one thread.

[likeface093]

I lost faith in ico projects

[Bunsomjelican]

2018 is the most terrible thing happened in this industry. I felt the last year was the season of ico scam, there are many project who didn't give payment to their bounty participants also for their investors as well. But in fairness now, this 2019 I think is much better than last year though it still bear market and lot are also a bullish.

[Dewi89]

On the thread https://bitcointalk.org/index.php?topic=4701035.0 very active updating about ICO scam but ICO scam will continue to be made and still hanging around if there is the highest organization that validates the feasibility of an ICO and tests team expertise maybe ICO scam will decrease

[adzino]

Its too hard to accused one project without any single evidence or proof that will will do scam or run away your invested money. but before joining them on ICO be sure to read and learned first there whitepaper is it original or copied from other icos (extensive research). the dev team information should be transparent. and lastly too think more than once if its really good to invest and ask some advise from crypto experts. INvest only what can you afford to loose..

Its not that easy to do. Just reading the whitepaper won't help you judge if that ICO will pay you or not. Failed ICOs mainly does not pay their bounty hunters cause why would they pay them since they already failed. And their terms are always changeable. If you read them properly, most of the terms of agreement says that they can change it if needed without any prior notice. So there is nothing much you can do if they add something new to the terms after you join the ICO.

[tippytoes]

Its too hard to accused one project without any single evidence or proof that will will do scam or run away your invested money. but before joining them on ICO be sure to read and learned first there whitepaper is it original or copied from other icos (extensive research). the dev team information should be transparent. and lastly too think more than once if its really good to invest and ask some advise from crypto experts. INvest only what can you afford to loose..

Its not that easy to do. Just reading the whitepaper won't help you judge if that ICO will pay you or not. Failed ICOs mainly does not pay their bounty hunters cause why would they pay them since they already failed. And their terms are always changeable. If you read them properly, most of the terms of agreement says that they can change it if needed without any prior notice. So there is nothing much you can do if they add something new to the terms after you join the ICO.

The usual problem of bounty hunters. Campaigns have that statement that they can always change the rules at any given time. If only users will not participate in their bounty programs to show that it's not really fair how they treat them. Very difficult to identify if the project is scam at early stages. Normally, you will know it once they disappeared along with the funds.

[futuristishe]

I know only ICOs that have a problem with paying bounty hunters. I do not know if it could be considered as a scam.
But Republia seems to be scam because there is connection to MinexCoin.

Well, not paying a reward is a Scam, too. If the project does not pay awards for bounty it already makes sense to refer it to the scammers.  I'm sure that without paying the reward to the hunters, the team is considered to be scammers.

[Fredomago]

Its too hard to accused one project without any single evidence or proof that will will do scam or run away your invested money. but before joining them on ICO be sure to read and learned first there whitepaper is it original or copied from other icos (extensive research). the dev team information should be transparent. and lastly too think more than once if its really good to invest and ask some advise from crypto experts. INvest only what can you afford to loose..

Its not that easy to do. Just reading the whitepaper won't help you judge if that ICO will pay you or not. Failed ICOs mainly does not pay their bounty hunters cause why would they pay them since they already failed. And their terms are always changeable. If you read them properly, most of the terms of agreement says that they can change it if needed without any prior notice. So there is nothing much you can do if they add something new to the terms after you join the ICO.

The usual problem of bounty hunters. Campaigns have that statement that they can always change the rules at any given time. If only users will not participate in their bounty programs to show that it's not really fair how they treat them. Very difficult to identify if the project is scam at early stages. Normally, you will know it once they disappeared along with the funds.

As some of them can pretend to be a good one while still in a early stage then after collecting enough funds to runaway that's the only
time they can be identified as scammers, there's a lots of things that makes it hard to point out which is which and how they can manage
runaway with investors funds.

[cherryganda]

MOYA TOKEN: their project is to provide cable wires under the sea for AFRICA internet connection
DRONE TOKEN: this is not actually 100 percent scam but a failed project, after sending tokens to participants they are gone.
IDA: this one is created and run by CHINESE team, the project is good and running with exchange but never paid any participants of bounty!

[paulk11087]

I am one of those who think that this precaution should be taken as someone who has been affected in an incredibly negative way. I will do my best to do that.

[kewlc3s]

I believe there is no point to fight against scam ICO.
The only workable solution at the moment is STO, that will provide more security for investors.
For myself, do not invest in ICO since middle 2017 and happy about that.

[Mmesooma1]

So many of them are scam. I observed that the new kind of scam is the type Urunit and Fxpay did. They collect huge amounts of money at ICO, list at a shitty exchange and then run away

[deodivine1]

Too many scam projects in crypto space, time won't permit me to start listing the much I know. Let's just be guided, proper due diligence will go a long way before buying in. Never buy in because of hype maybe due to paid reviews.

[Apes]

one of the problems many bounty hunter follow join and promote ico based by ico rating site. in many ico rating in my opinion. some even plunged the community. the ico rating they review seems the rating can be bought or ordered without actually being reviewed according to the facts. this is one of the problems that makes the ico scam can be fertile. Ico rating should provide information that is independent and trustworthy by investor or the bounty hunter.

[Chika08]

The fight of scam projects in blockchain industry should be intensified.  For over a year, this scam has become a huge problem  to the industry and more reasons why I have supported the government regulations to stop this criminals from killing the the industry.

[Irvinn]

If fighting against ico scam is not not properly planned I don't see it leaving the crypto only for more scam to pump in. I think there should be an organization even if not from the government but voluntary organization who will verify any ico before being promote if not we are still not save.

Public voluntary bodies will not be able to effectively resist to fraud in cryptocurrency. Fraudsters such bodies will simply ignore. The most effective way to get rid of fraud in ICO projects is government regulation of ICO activities. Although fraud is a crime and the state is obliged to quickly intervene and punish criminals, they are in no hurry to do so. Apparently, in this way they want to discredit the very idea of ​​decentralized cryptocurrency. However, they will soon be forced to do it anyway.

[jessyj48]

Since there are too many scam ICO since 2018 its better to just go with the ones with assurance and with real life team that are ready for work ,I've learned the hardway ,last year was a very brutal year for me because I nearly lost all my money to these scam ICOs ,but now I spent many hours on ICO to make sure they are real and ready to work