How to prevent fraud?

[befriendmywater]

A lot of fraud has happened in the ICO projects over the past one year or so and many people have suffered because of it. I believe fraud can't be prevented it can be minimized by strict regulations and monitoring.

The worse thing is that in the crypto market, we cannot get strict supervision from the law. that's why scammers often flutter and they can repeat many projects to cheat everyone's money.
The STO project really does not make me believe in these new projects. I think we should be more selfish and think for ourselves more. There should be no confidence in any project in this crypto market.

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[SvonioneFromMangoCoinz]

Nice analysis. Classifying fraud in two categories as insider and outsider is nice. However, I think as far as cryptocurrency fraud and scam is concern, I don't know where you want to classify that, maybe outsider because it is a public offer, if I'm not wrong.

I generally try to be careful anyway.

Sometimes we have a good analytical experience but it is inevitable that things are bad. A really potential project like ARAW has given a lot of promise and their products have been produced and have quite a lot of partners. But the worst is that after the market collapsed at the beginning of 2019, it didn't have anything left. Currently the ARAW business value is only $ 225,000 while they have attracted more than $ 17 million previously. so we always need luck.

[indrakusumaindra]

for now, be careful and careful to choose the ICO project to be used as an investment place, because most ICOs are now deceptive. so don't ever choose a strange project

Well right now there is a way to join money funding in safer way such as IEO and STO which is more legal and more trusted. So i do think ICO is a bad choices for investments right now, cause its full of fraud and scam.

[Vishnu.Reang]

First of all, everyone needs to understand that there can be no better investment than Bitcoin itself. That is, unlike the case with the fiat currencies you don't need to invest your cash in to assets such as stocks and real estate. If you want to use your BTC for investment in assets such as crypto-stocks and crypto-bonds, then it is your call, but I would never prefer something like that.

[awik p]

First of all, everyone needs to understand that there can be no better investment than Bitcoin itself. That is, unlike the case with the fiat currencies you don't need to invest your cash in to assets such as stocks and real estate. If you want to use your BTC for investment in assets such as crypto-stocks and crypto-bonds, then it is your call, but I would never prefer something like that.

I agree. simple to anticipate fraud. we only invest in bitcoin. and this method is very easy without thinking about many things. it's not like we invest in ico, where you have to think of white papper, softcap, hardcap, listing exchange, etc.

[joshy23]

A lot of fraud has happened in the ICO projects over the past one year or so and many people have suffered because of it. I believe fraud can't be prevented it can be minimized by strict regulations and monitoring.

Minimizing by doing  actions like this, like what  most of those who suffered being victimized by this act, it's very important to find ways to prevent
this things to happened to you, keep doing research before participating to anything like this.

[dat.ho12492]

A lot of fraud has happened in the ICO projects over the past one year or so and many people have suffered because of it. I believe fraud can't be prevented it can be minimized by strict regulations and monitoring.

Fraud is very difficult to prevent when the activities of the projects are always very secretive, they often do not provide too much assurance, the cooperation between them and investors is always based on the main belief factor, want to prevent need as you say, regulation and supervision need to be more stringent. And in combination with that, I think the IEO is a solution to prevent and limit fraud from projects when the IEO allows us to have liquidity when investing, projects should apply more to increase reliability

[Altero]

A lot of fraud has happened in the ICO projects over the past one year or so and many people have suffered because of it. I believe fraud can't be prevented it can be minimized by strict regulations and monitoring.

Fraud is very difficult to prevent when the activities of the projects are always very secretive, they often do not provide too much assurance, the cooperation between them and investors is always based on the main belief factor, want to prevent need as you say, regulation and supervision need to be more stringent. And in combination with that, I think the IEO is a solution to prevent and limit fraud from projects when the IEO allows us to have liquidity when investing, projects should apply more to increase reliability

If we look that certain project suspicious or something that they can't answer our queries will be possibly a way of fraud. We can escape from this if we are blinded enough to think about what will happen to this.

Yes, fraudsters are so smart and they do a lot to twist minds of investors and they don't look too suspicious. We only realize it once we've been caught by them. It is a reality that we can't be denied, we are lucky enough if we are not their victims.

[desticy]

Probably we have no choice but to wait for the arrival of full or at least partial regulation, as well as to take part only in the IEO, and ICO will temporarily bypass projects.

[nur rochid]

Probably we have no choice but to wait for the arrival of full or at least partial regulation, as well as to take part only in the IEO, and ICO will temporarily bypass projects.

right, currently the IEO is more closely followed by investors. in my mind, we must follow the major path so that our funds are not trapped. by taking part in major activities we can still make money

[hahay]

First of all, everyone needs to understand that there can be no better investment than Bitcoin itself. That is, unlike the case with the fiat currencies you don't need to invest your cash in to assets such as stocks and real estate. If you want to use your BTC for investment in assets such as crypto-stocks and crypto-bonds, then it is your call, but I would never prefer something like that.

I agree. simple to anticipate fraud. we only invest in bitcoin. and this method is very easy without thinking about many things. it's not like we invest in ico, where you have to think of white papper, softcap, hardcap, listing exchange, etc.

Making things easier is the best in this case investing in bitcoin is easy because you don't have to bother and worry about the price of bitcoin in the future because it is definitely increasing, but in other views you will at least get an FUD who is always worried about your investment. In this case self confidence is very important and with high enthusiasm about bitcoin then all kinds of negative news will not make you anxious about your investment.

[Nellayar]

If you want to free from fraudulent acts, try not to enter in an investment. Lol. But in my opinion, being scammed in this industry is quiet usual today. Many scammers with their fake projects are stealing the money of people. I know that a lot of people here have traumatic experience in crypto investment. But you will become successful only once your risk a lot.

[yusupjatigumilar]

Fraud is indeed very frightening for everyone. But actually fraud can be avoided, especially before we decide to invest our capital in a commodity such as crypto currency or token, a product whether we buy it in ICO or IEO, it would be nice if you were careful before buying, make sure what product was produced from the token, how the roadmap, and who the development team is, if all of these things have convinced you you can invest without having to fear fraud.

[Yutikas_11920]

If you want to free from fraudulent acts, try not to enter in an investment. Lol. But in my opinion, being scammed in this industry is quiet usual today. Many scammers with their fake projects are stealing the money of people. I know that a lot of people here have traumatic experience in crypto investment. But you will become successful only once your risk a lot.

I think in all investment places or places that save your money using third-party people that have the potential to scam, all have the risk of stealing all the assets you have, when you deal with money there is no safest place in the world because all have risks.

[poldanmig]

Probably we have no choice but to wait for the arrival of full or at least partial regulation, as well as to take part only in the IEO, and ICO will temporarily bypass projects.

This is very difficult in the process of rules in every country that has different laws. whereas today investors have the confidence to follow investments based on the trust of a proven exchange. in the method of selecting the project itself we cannot find out

[Naida_BR]

Probably we have no choice but to wait for the arrival of full or at least partial regulation, as well as to take part only in the IEO, and ICO will temporarily bypass projects.

This is very difficult in the process of rules in every country that has different laws. whereas today investors have the confidence to follow investments based on the trust of a proven exchange. in the method of selecting the project itself we cannot find out

That is true, but regulation can can in a chain, not in every country.
This kind of regulation can make the chain more trusted and transparent thus we can avoid fraud.

[brotherwood12]

for me to prevent fraud is by reading , read what site you will go , read what project you will join something like that i guess

[tonyja2017]

ICO projects are now a lot of scams and we need to be careful in investing and analyzing it. If you are unsure about its safety, we can buy a token at exchange, it is called an IEO. it is safer and the percentage of profit is higher than in normal ICO projects.
so to avoid fraud, we should invest in IEO projects.

[Rufsilf]

Fraud are done in the most creative and most believable way, fraudsters nowadays are smarter and they have all the information needed just to sway the other party. We really can't eradicate fraud but the best way to prevent it is being keen and observant of what's going on, if the offer is something that is good to be true then it is more likely fraud, don't get into something you don't fully understand and make sure you have done a thorough research on the investment that you will be entering to make ensure security of your money. Even if the offer comes from a friend make sure to do your own research because even a close friend can deceive you if it is about money.

[goaldigger]

Its actually hard to determine fraud in real life (im not referring to those obvious scams which has too good to be true descriptions). There are also those ICO projects who really looks legit then exits as a scam. What we need to have is to dig all informations we can about the projects and take all precautions about it. We cannot rid of it fully so we should always be ready.