Be aware, so many scam coins are around

[xianbits]

To learn more about the scam projects you need to visit the scam accusation section guys where you can find lot of exposed crypto projects with the proof.

This thread also need to moved there.

I guess it is still right to be posted here since the topic is not just accusing projects as scam ones but what are the scammers' method or how we might fall to scam projects.

[danherbias07]

Regarding about those airdrops it depends upon the project and the team.

Looks like their main purpose is really to scam and that is why they are making it higher.
That is already a go signal that it will run at the end. They cannot just give freebies like that for the number of unlock tokens will go higher which means lesser value for their coins.
They cannot sell it but will rely on buyers who will give them ETH or BTC.

[marjil]

agree with you, mostly ico project start on middle 2018 until now has many of them was fake, after they rob investor money, didnt pay bounty participant, and then run after that.

I don't know how people can get away with this scams. If the development teams are doing the scam then it means that those coins are not safe to invest in and people should find other coins to invest.

[CopMom]

Luckily now we have ICOEthics to check if ICO project which we're going to invest in is scam or not. As I can see ICOEthics is working really good in this forum by detecting so many scam ICO projects. Let's help ICOEthics find out more scam ICO

[gunhell16]

1. Privcy
Privacy was a free airdropped coin which was distributed freely over the community for helping promoting the project. Later, they decide to reward more to the holder of the coin in airdrops. The more coin you hold, the more airdrop coin you get. Newbies started to buy coins for getting more airdrop coin and DEV were selling their coin. I am sure they had a lot of fake accounts participating in the Airdrop. Can you believe they scammed people in such a way? Now, the project is died, 24 hour volume is- $620 which was less than $100 couple of weeks ago.

Please also list here which exchange they were/are listed!

2. Profish
Profish was an ICO which came into the exchange before the bounty end. They were listed in mercatox and used to have some fake volumes. I don't know what happened to their ICO but they sold a lot of coins through mercatox and later, the price is now 1 or 2 satoshi from 650 satoshi. This is also a dead project. They scammed people.

I joined their bounty before and stayed a week there, they pause the campaign! saw that there is no volume on mercatox!

3. Helios Protocol- Be aware
Helios Protocol is now airdropping coin to their community. This attract my eyes when I see user vectisitch was vouching the project. He was a moderator in privcy, so, there's no doubt that both of the project are from same person and this helios shit is also going to scam money. I want to alert you guys not to invest in this scam project.
Here is the vouching comment- https://bitcointalk.org/index.php?topic=5118682.msg50087444#msg50087444

Thanks for the warning but any proof than that? i want to see more, as of now we can't tell this is a scam!

[nlaara12]

We have got so many scam coin trading in different exchanges,and that is why after some time it will fade away,we just need to be very careful and not invest in scam coin.

[Jesabela04]

I certainly agree with you. There are lots of so called shitcoins around so we should be aware of it. We must be smart enough to choose where to invest. Having enough knowledge about a certain coin is an advantage.

[BitcoinTurk]

We have seen scam projects in our environment and markets in a very long time, not only today. Especially at the beginning of last year, we saw so many project advertisements that many of these projects had made serious grievances and caused many users to experience serious damage and experience in this investment vehicle. Although the market conditions are bad today, and ICO projects are under-invested, unfortunately, the scammers do not give up on some things and are constantly raising money with different scam projects. The best and most guaranteed way to protect against fraud is through research again. My advice is do not invest 1 USD in any project without doing any research.

[fuer44]

I think all of those in this forum have already learned well about the fake coin scheme. the difficult thing is, when everything went well at the beginning, it then got worse at the end because we never really knew where the development team would bring their project.

[labilaab]

Thanks for the heads up. Theres really a lot of too good to be true projects out there.But some of them are not really scam from the start. Some are legit on the start of their launching but sad to say since experiencing too much difficulty on this very competitive market they halt to continue their project and turned to be scammed at the end.

[daniel08]

agree with you, mostly ico project start on middle 2018 until now has many of them was fake, after they rob investor money, didnt pay bounty participant, and then run after that.

Everyone is aware that many scam projects in last year have occured and many people got scammed by many of this ICO's and many have lost money due to lack of experience in investing in a project which in first they seemed to be good and profitable once it ends. But unfortunately they were scams and many scams coins can be seen in coinmarketcap.

[sclmte]

Of course, we should be careful to be aware of the burdens or have not tried a scam on a coin that I have never experienced to hold it, so before this happens I actually double my caution on the come temptation to life or become a scam especially now lots of fake coins so we should know and know that the scammer is around us. so be careful of the bounty projects we work with.

[Sri rahayu]

I certainly agree with you. There are lots of so called shitcoins around so we should be aware of it. We must be smart enough to choose where to invest. Having enough knowledge about a certain coin is an advantage.

Yes and I think, this is one of our mistakes to invest, if they care about their project, why do they let their selling prices be so low. It's hard for me to see at the end of their sales, are they a responsible team or not. Then what is the right solution when we find this kind of project?

[Pffrt]

~snip~

So, if what you mean is people scam by the dev team; maybe you can add this too:

- abulaba token, bitcointalk forum ANN: https://bitcointalk.org/index.php?topic=3348816.0 ;
- vaynix ATM, bitcointalk forum ANN: https://bitcointalk.org/index.php?topic=3239397.0
- etc

I think there're hundreds of scam ICO's that you can read their announcement in this forum.
Forum Admin, staff and moderators do not moderate the ANN ICO thread, because their position must be on the neutral side.

So forum users must be smart in choosing which ICO platform they must choose to invest or be promoted in social media.

My thread is not about any ICO. I just have shared a different way of scamming people. This scammers attract investors by airdropping to holder and sell their shit premined coin. This is just another way to scamming people. It's not about ICO.

[semobo]

Of course, we should be careful to be aware of the burdens or have not tried a scam on a coin that I have never experienced to hold it, so before this happens I actually double my caution on the come temptation to life or become a scam especially now lots of fake coins so we should know and know that the scammer is around us. so be careful of the bounty projects we work with.

So what you will do avoid them in future? Did you learned how to find the fake projects?

If not just visit the beginners and help section to read the guidelines about it.

[smyslov]

The list could go on to thousand this year this early ICOETHICS have caught so many scam ICO if not people are helping one another to trace these scam coins, investors will double their losses, even many good projects are now folding because it's hard to convince investors to invest in their project.

[Apriand]

My thread is not about any ICO. I just have shared a different way of scamming people. This scammers attract investors by airdropping to holder and sell their shit premined coin. This is just another way to scamming people. It's not about ICO.

I see your point. Many way to scam people if we aren't aware. For newbie just make a research before investing in the project. Better ask here ( in this forum) and a lot people will answer with pleasure every question before we spend money for invest.

[CAPT.DEADPOOL]

There are so many scam coin scams so beware of bounty hunters especially investors because they can sell coin sellers especially to the ico out there so be alert so you can not scam and spend your money for buying coin that you are bored to buy and in so many emerging ico now still difficult to specify if it is legit or not but we still read if a ico is good like if it is listed on ico bench and if the admins are legit and if the softcap reach the search it is definitely legit an ico but do not even worry especially for investors there will still be legit ico than the first ones to emerge because their worker maintains and regulates to better run their projects and prefer these investors.

[Hivalley]

I don't know what happened to their ICO but they sold a lot of coins through mercatox and later, the price is now 1 or 2 satoshi from 650 satoshi. This is also a dead project. They scammed people

This looks more like a case of a failed project rather than a scam one, they are two different things(a scam project and a failed project)
Most times when a projects coin goes far below ico price, people tend to tag them a scam project,but it's not so, they do not have control of secondary market and the entire market is bad.
I also think this post is suited In scam accusations section.

[Red-Apple]

was a free airdropped coin which was distributed freely over the community for helping promoting the project.

that is not a "free distribution" what you explained here is the exact definition of payment for a job!
a "free distribution" is when they give you tokens for free just for participating, like if you post your address and receive coins without needing you to do anything else.