Be aware, so many scam coins are around

[shooleh]

We really need to be more patient and thorough in determining ICO project choices. Many ICO projects have difficulty finding funds. So they will fail and potentially commit fraud. Do research and fully understand the white paper.

[april08]

I have said it, time without numbers that scam project is a big treat to cryptos growth because once bitten twice shy. More needs to be done by the moderator and exchangers to scrutinize these projects before letting them in. The latest, scam partner is listing the coin why the ICO/bounty campaign is going on. After the campaign, the price will fail drastically. Recovering your initial capital after 6 months becomes a problem.

[Fluxtorrence9]

I have wisen up and I don't think I will ever be a victim of scam projects anymore ,I've learnt my way of fishing them out,I don't join ICO or bounties because of the rewards ,I make sure the teams are real and ready to show faces on either twitter or YouTube ,the dev or CEO must be able to make a video atleast ,to show that he is real too.

[iged_war]

We really need to be more patient and thorough in determining ICO project choices. Many ICO projects have difficulty finding funds. So they will fail and potentially commit fraud. Do research and fully understand the white paper.

ico failed in their fund raising due the their projects was not interested for investors.they consider its projects as uselless projects.investors now become smarter than before so why much ico failed now.

[AlekseyCrypto]

Unfortunately, today more than 95% of ICOs are scammers and every time they come up with new ways to deceive investors.

[xvids]

Now that most of the people are well aware of scam ICOs, scammer has found another way to scam people. I have observed 3 projects till now which I will list here and give you a highlights how they scam people, specially the newbie.

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.

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.

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

There is nothing new in here,
It is the risk as an investor/trader .
You should know what to buy and when to buy it ,
If you would list all of the projects or crypto that has been dropped down to becoming worthless then for sure you would have to dedicate a lot of time .
There are tons of project that turns out to be worthless and there are some who didn't make it to the exchange.

[Kiweikoo]

Yes, there are so many projects out there that always turn out to be a scam especially those that conduct airdrops, most of this companies conducts airdrop not because they want to give away their tokens to people but because they don't have funds to market themselves so that other investors can come in to make purchase,.

When this happens, the coin always turns out to be what we call shitcoin in the market, so I always try to run far away from those kind of projects because I know it's just a waste of my time.

[Xalata]

Thanks for this enlightment about these projects, at least with this information other community members would not waste their time and money in promoting and investing into this project respectively. it is time members of this forum actually choose only from Reverse ICOs if you should ask me. Because i don't see the reason why we should handle huge sums of money to some group who claim to have a solution to an existing problem yet don't have even a prototype of it.

[Anonylz]

Unfortunately, today more than 95% of ICOs are scammers and every time they come up with new ways to deceive investors.

Mate! This does not apply to ico's only, even some already listed coin in exchange are also not to be trusted, some of them have turned out to be pure scam because the team behind the project get greedy turned against each other, then investors will suffer the consequences.

[Pffrt]

Unfortunately, today more than 95% of ICOs are scammers and every time they come up with new ways to deceive investors.

I have mentioned couple of times that it's not all about ICO. How the hell you are writing something without reading the topic or discussion. That's not a good way to engage with discussion.

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.

Thank you for the clarification. Anyway it's more or less a free distribution because all of the airdrops require some of the tasks to be completed.

[Clark05]

Better to use the extra money once you invested to the Coins or to the project because mostly right now they turn to scam.
There is a lot of people lose their money because of the coins who did not increase and become dead and the project turn to scam.
Everything right now in the cryptoworld can be turn to scam so better to choose wisely a coin who are really potential that not cause to you losing money but it can cause to you to earn more money.

[SlimShadyMmp]

They just keep coming i really hope your piece of information reach lots of people because so many now with low funds are up looking for resupply so any token might just sound like a good token i hope users make use of that

[maryanti]

That's how the dev tricked many people, by giving tokens that are already on the market, after they sell tokens on a large scale, they leave buyers at cheap prices.

Although there are many who know about the fraud that occurred throughout the year there are still people who are trapped with coin fraudsters who give free coins through AIrdrop.

I thank you for your have make this thread. We must be more careful with fraudsters.

[maydna]

I am sure that they will use all the way to scam people and I am sure that they can easily scam people especially for people who don't have more information related to the project. They can easily get people's money, and it will not take too long to steal that money. We need to be aware and always search more about the project so we can know if the project is suspicious or not.

I wouldn't surprise if they always say that their project will be one of the best projects that will be online for a long time because that is the way to trick many people. But I will be surprised if there are still many people who believe with them and buy their coins without doing research. They could trick us, but we have a power source which is Google which can give us almost everything including their project so we could try to find every news about them.

[lutfi-hasan]

That's how the dev tricked many people, by giving tokens that are already on the market, after they sell tokens on a large scale, they leave buyers at cheap prices.

Although there are many who know about the fraud that occurred throughout the year there are still people who are trapped with coin fraudsters who give free coins through AIrdrop.

I thank you for your have make this thread. We must be more careful with fraudsters.

True, nowadays there are already many fraudsters, they are looking for opportunities when the price of Bitcoin is high, so they will make big profits by cheating, so now we have to be careful.

[okala]

Its not a new thing on this forum we have always hard scam ICO right from the advent of the ICO, most of them take investors found and simply run away giving the ICO market a negative image and making it hard for legit one to raise found during they ICO. We all just need to watch out and be careful before investing in any ICO.

[PlusOne88]

It is good to know that even until today, even with the bearish market there are still people who really don't care about what is good for the cryptocurrency market and keeps on doing things that may drive people away. How annoying are they. How about keeping them at the top of every page so that people may know they are the scammers!!!

[ballerin and giroud]

I don't think this is the right place to tell about scam ICO project because you have to report your investigation in scam accusations. Other than that, you are not including an evidence from your investigation toward some ICO that you think is scam.

How we believe the ICO is scam?

[Ararbermas]

We cannot avoid such scam coins mate because mostly nowadays covering behind of some legit project. And always using fake team behind just to scam ppl which you are able to determine it only once it didn't correspond when it comes distribution specially if it made an extensions always. Lol. But thanks for sharing this i hope everyone see this post as well. 

[iMark]

We really need to be more patient and thorough in determining ICO project choices. Many ICO projects have difficulty finding funds. So they will fail and potentially commit fraud. Do research and fully understand the white paper.

Thats why I always join projects that have innovative ideas, good teams and great marketing, seen from their crowded discussion on their ANN, and their bounties that are followed by many people, at least that gives a little picture about their future