The Delayed "Exit Process" of Failed ICOs

[cheezcarls]

After ICO and token distribution...

Investor: When exchange?
Admin: We will announce it soon.

After a week...

Investor: When exchange?
Admin: Very soon. We will be negotiating with some big exchanges, but will take time. Please stay tuned.

After a month...

Investor: When exchange?
Admin: Apologies. We are now prioritizing on our product development, so we decided to put the exchange listing on hold until our product is launched. Please stay tuned.

After 3 months...

Investor: When exchange?
Admin: We are almost finished with our product. We just need few more tweaks and test runs before the launch. It's better that we launch the product first before our token gets listed in an exchange to avoid massive dumping. Please stay tuned for further announcements.

After 6 months...

Investor: When exchange?
Admin: Due to the recent bear market, we decided not to list in any exchange until further notice. Once we recover, we will begin listing! On the other hand, our product launch will be delayed due to a lot of coding errors that needs to be fixed. Stay tuned for further announcements.

After 1 year...

Investor: When exchange?
Admin takes down official website, Telegram channel and social media accounts with three words, "AAAAAND IT'S GONE!".

Result: Token becomes shitcoin with no value sitting in our Ether wallet. Their so-called MVP didn't really exist as these failed ICOs are making fake announcements of their development progress.

I don't know who can relate, but this is the sad reality of so many failed projects we've invested back then without actually doing our homework first.

My point is this. Most ICOs have failed, but some have succeeded. Do your homework first before taking risks. As the old saying goes, avoiding risks doesn't make you successful, you just learn how to manage it. That's the whole game of it. Peace out peeps! 😉

[BQ]

an interesting take on it, for these projects.
was it always an idea to scam and the exchange listings etc was just to win time?
did they believe in themselves too much and when it all came around they realised it wasn't as easy/groundbreaking as they thought..?

[Irvinn]

Yes, it was interesting to read, and indeed, I have already come across a lot with such correspondence with managers and the ICO team. Unfortunately, now it is quite common. Because of this, many bounty hunters have ceased to engage in this activity, since it has already virtually ceased to make a profit, and it takes a lot of time. While I have time, I can devote some more time to the projects of ICO in the hope that at least some of them will still be successful. The situation in the market, I hope, will change. It will not always be bad ...

[slaman29]

The worst thing about all the failed ICOs is that so few (if any) of the developers were made to pay for their negligence. Just last week, I saw an ICO I followed but luckily never invested, just post a message after almost 1 year of saying they were negotiating, that the token is not working and they have ran out of funds and etc etc.

The CEO even said this is not an exit scam, we all lost money.

No, only investors lost money. CEO and team all paid themselves salaries! Disgusting behavior and I hope people make these guys pay for it one day.

[sertans]

Many of us has hear what you mentioned here. There are 2 big main reasons why these ICOs are failed. First they do not make a good research if their project idea has a real utility. Does any one will need that token to uses its products? Does anybody able to get profit while keeping the token? Most of the failed project can not create any utility. Second many of the ICO lying about collected funds without enough fund collected they can not create a good product, they can not list any exchange, they can not create utility to its token. We need to be careful about what we have invest in, check everything you can before you invest any amount of money.

[Milamol]

In this case, investors are not protected. Probably, most of the projects were not crowned with success, because the creators of startups do not work professionally. A good idea for a blockchain startup is not enough for success. Advisors are unlikely to help completely and forever. Sooner or later devs will have to do business on their own.
No matter how unpleasant it may seem, scammers are the most successful in crypto. This is their ideal environment.

[dabenko]

After reading the whole story line and illustration, I sighed.
OP, the illustration you just have is nothing but the truth. Only an experienced person can do that.
We just need to be very careful while investing and the project to invest in. A lot of them are deceptive.

[passwordnow]

So this what actually happens why many of the bounty hunters are complaining on how bad the bounty campaigns now. In result, many have claimed that most of them are literally scam and doesn't have any plan of executing their token to any exchange. I think this is their plan for the whole thing before having the ICO. After collecting millions of dollars from their investors, they just gave you those worthless tokens that will never be exchanged and won't give back your capital.

[kawetsriyanto]

Unfortunately, It is the current trends on ICOs after token distribution. I have joined on some current ICOs, and most of them did the same ways. They always delayed to list the tokens to exchanges with various reasons. It is the fact that most of ICOs delayed the exchanges ended with failed or scam issues.     

[antsam]

This is precisely for the ICO SCAM Project, after 3 months of launch the dev is always looking for unclear reasons it has become a scam category. It's true that a lot of the contents of our wallet containing worthless coins from this scam project

[patz22]

This is one of the common exit from scam ICO's. They're claiming that exchange listing is being finalized aftewards they will be gone. I am fed up with this kind of tean like datareum and now almost with cryptassist (i hope not). Well they are doing this to ensure that people won't post anything negative about so that investors will possibly move on.

[Coin-1]

After ICO and token distribution...

~snip~

After 1 year...

Investor: When exchange?
Admin takes down official website, Telegram channel and social media accounts with three words, "AAAAAND IT'S GONE!".

I think that you are talking not about failed ICOs but about failed projects because, as far as I understand, ICO successfully ended and the team reached at least a soft cap.

In my opinion, this situation should be cosidered an outright scam. In this case the admin simply stole the funds of investors, cashed tokens and disappeared with money.

[peter0425]

I guess this longest bear season has taken a toll on the community. That's why I totally scrap my idea of investing or even joining bounties because of the potential exit scams and the KYC needed to provide just to get your tokens and then what? it has no value at all? So better stay out of ICO's for now and just invest on bitcoin alone.

[labilaab]

Very true pal which was really very sad and weary joining to them in bounty task. We taught from the start when joining to them that they are very great and too good to be true project which is why we put our time,internet expense  and effort on it doing bounty task ot even investing.

[amos77978]

After ICO and token distribution...

Investor: When exchange?
Admin: We will announce it soon.

After a week...

Investor: When exchange?
Admin: Very soon. We will be negotiating with some big exchanges, but will take time. Please stay tuned.

After a month...

Investor: When exchange?
Admin: Apologies. We are now prioritizing on our product development, so we decided to put the exchange listing on hold until our product is launched. Please stay tuned.

After 3 months...

Investor: When exchange?
Admin: We are almost finished with our product. We just need few more tweaks and test runs before the launch. It's better that we launch the product first before our token gets listed in an exchange to avoid massive dumping. Please stay tuned for further announcements.

After 6 months...

Investor: When exchange?
Admin: Due to the recent bear market, we decided not to list in any exchange until further notice. Once we recover, we will begin listing! On the other hand, our product launch will be delayed due to a lot of coding errors that needs to be fixed. Stay tuned for further announcements.

After 1 year...

Investor: When exchange?
Admin takes down official website, Telegram channel and social media accounts with three words, "AAAAAND IT'S GONE!".

Result: Token becomes shitcoin with no value sitting in our Ether wallet. Their so-called MVP didn't really exist as these failed ICOs are making fake announcements of their development progress.

I don't know who can relate, but this is the sad reality of so many failed projects we've invested back then without actually doing our homework first.

My point is this. Most ICOs have failed, but some have succeeded. Do your homework first before taking risks. As the old saying goes, avoiding risks doesn't make you successful, you just learn how to manage it. That's the whole game of it. Peace out peeps! 😉

This post of yours is very similar to the group moderators of online token... statement like this are definitely failed ico's... but not In all cases... sometimes some project may choose to delay listing in fear of their tokens getting dumped due to the beat market

[LUGHUL]

I am very sad to see the current state of the ICO project. Many ICO projects are scam and those who commit fraud can live quietly without justice. I just hope that regulation will enter the ICO world.

[Buntel168]

Not all ICOs like that, many ICOs that have succeeded and their tokens have also been listed in large exchanges. That happened to you is happened a lot to other investors, making it an experience in investing in ICO.

[Cat Coin]

Today it is not necessary to draw categorical conclusions. We're first, and it's always a risk. Many developers also enter this market for the first time. And many people have pink glasses, they believe in their ideas. Only now the time has failed, now it is enough to start a rumor and the idea may die. Cheaters, too. Let's learn, we're here anyway.

[jrrsparkles]

The waiting time hurts more than the money we are lsing because we are just having hope and hope finally getting disappointed which can broke many investors who invested their life saving here,that is why it is better to understand before investing and choose the bitcoin if you are very new here.

[yanto@1977]

Great lesson for us, I believe bounty hunter is not like off line job. In this work we need to know the field and minimalism risk, to reach that always learn from your mistakes. Not easy but we don't have much choice, so take it or leave it.