Be aware, so many scam coins are around

[Stanlo]

I don't know about other projects but I was aware of privacy coin ,at that time I was still using my mining rigs and I did came across privacy coin which was running on cryptonight algorithm ,after checking the website very well is looks more like a HYIP project to me because I've seen such design used on the website on a hyip 'high yield investment platform' website before

[livingfree]

I remember Privcy and Profish to have that massive signature participants during those times of their promotion. It was the few coins that I've seen to be already listed to an exchange while they are having an ICO and I thought that wasn't possible before but they did. Well, I thought that it is a legit project but the devs abandoned the project and dumped as much coins that they have. Same with privcy, I think I already saw some warnings about them before.

[Adriano2010]

This is not good for legit projects, i wish people not join this kind of airdrops and research before, because more
and more people lose money on this coin if they buy it, i think some % of people join these airdrops because they not have money to invest on another coins but i wish this to change and have only legit projects.

[Xenrise]

Profish had a nice signature campaign last year I think. But, I guess that it is a scam since the signature campaign itself is sketchy. This is why we need to be aware of any coins. And we should conduct more researches regarding on what coin we will invest on.

[Youghoor]

I believe that with the current state of the crypto ecosystem, when people spend some time to read and research more about a particular crypto project, you will get enough information on whether the project is a scam or not. People are just concern about the profit they will gain instead of them thinking about how feasible and achievable are the aims of the project in relation to the condition of the crypto space.

[Baimovic]

The main problem of our market today is the scam projects that create tokens, which eventually become just not necessary. I think that this will really be a profitable business, especially if you now try to create resources that will be interesting in the future.

but it is not easy to do it with the amount of fraud that occurs, investors will be very careful in investing in new projects so that it makes it difficult for projects that are truly serious and eventually fail as well.

now we should have to find ways to reduce the number of frauds that occur because this cannot be allowed to continue because it can damage the crypto image.

[Ifemini]

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

The three you mentioned are true but few
There are several worse tokens such as kwatt, scc and even equal token

Research apart; we have to be smarter with our decisions

[ra_pl]

There are a lot of projects out that one needs to be watchful. As an investor you have to carefully study the plan of a project before investing.  Some projects starts up with a good plans and end up to be scam. For me it's better to get the details rights from the onset. Noone can tell if one project could exit scam.

[3core]

Lucky that I did not waste my time in the profish campaign, I tried to visit their website, but something fishy with their website it just ordinary with a little blog catching fish.

Not just profish, almost all new coins shouldn't be created because all they offer is something that easily solved without the need of digital currency. So, I always take my time to study projects I want to invest my money or time on.

[andreizver]

Sure! That is a lot of scam projects but less than it was earler. A year ago almost 4 of 5 projects was a scam. But now market is more clear how I see. The reason is - falling of market.

[Innocant]

As of now they have so many scam coins always come in crypto. And sometime we buy on it, So must better we need to research if we want to to buy some potential coins and to avoid also to those scam coins.

[burky156]

I believe that only the new welcomers could catch the scamming waves which comes from ICO's today. If the newbie make some good researches he would know that he should never invest an ICO project anymore. So scammers needs newbies which never make any researches. 

[Melo20]

The fast-moving world of cryptocurrencies allows quite a few opportunities for traders. New cryptocurrencies and tokens often rise at a rapid clip, drawing a lot of attention whether they originate in a fork like Litecoin Cash or from an ICO. Yet in many cases, these shiny new coins are no more than a scam: a pump and dump scheme that should be avoided at all cost, as they can cost us the full cost. With the explosion of cryptocurrencies, there has also been an unwelcome rise in crypto scams or scam coins. An in-depth research is needed to assess new coins, like with any other investment

[abake]

Cool info, let me add to your post. The new pattern used by scam projects  is as follows 👉 do airdrop and bounty without ICO, list on an exchange which charges reduced listing fee, manipulate the price, create an update showcasing lambo soon, then dump on crypto enthusiasts who FOMO. i've been a victim with one rubbish project called Xentimentum, they listed on hotbit, and promised a lot (fake) in healthcare sector. Please let's be guided, all that glitters ain't gold.

[killerfrost]

As we just know that Helios is not a scam, so you should remove Helios name from the list! But for the other two coins, I agree with you. Profish looks like an open scam! I mean the project looks dead but some admins are still replying in their telegram group and it's coin rank also not that bad in CMC! Not only these two coins are fishy, but I can also tell you more names! I am researching on them and will make a thread if I get every information!

[33bitcoin]

People still call bitcoin a scam, I see it all on youtube and the rest of the inernet.  You can never really be sure that something is a scam unless it is absolutely blatant.

I will never stop buying altcoins because they are the most exciting investment.

[labuan]

Thanks for your information. Thats true, many people are scared to investing on ICO more, because many of ICO are scam and not paid bounty hunter. I think moderator must helping us for that trouble.

[seleme]

Thanks for your information. Thats true, many people are scared to investing on ICO more, because many of ICO are scam and not paid bounty hunter. I think moderator must helping us for that trouble.

I don't think so for a obvious reasons. The idea behind the bounty campaigns to increase the awareness for the project. Not all ICOs are scam and it is job of the investor to check the all necessary details before deciding to invest in or not. Bounty hunters are not priority for projects,unfortunately.

[Babyrica0226]

Scam ico, I guess, is everywhere in any form of business here in crypto world. In fact, it became rampant during 2018.
That's why year 2018 was the worst time for the ICO campaign where most of them are scammers. Even up to now, in
seeking bounties, it is still difficult to determine the legit one. So as a bounty hunters, we need to be careful and wise in choosing before joining in.

[Awalt541]

Yes, but dont be to scare for invest your money on cryptocurrency like Bitcoin, Ethereum, Cardano, Litecoin, Dogecoin and NEO. Because many ALTcoin is very potential for us to get profit. So you can try to invest a bit of your money.