Cheaters . who caused the cryptocurrency to go down

[Leonardo7]

The problem lies partly on the bounty managers. We have many dishonest hunters which are causing harm to the project. The BM, should always employ Proof-Of-Authentication "POA" post which they have always have done, and participants should always sign up with google form and IP should be tracked, and proxy IP tracked too, and the part of authentication using telegram can be incorporated too, and a project can partner with a third party to detect multiple accounts. all these are just few steps to getting rid of cheaters.

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[LogitechMouse]

Cheaters are like viruses to the IEO's and ICO's already and they are growing in a rapid rate. What I mean is in every ICO or IEO that is launched, there will still be cheaters on it. It is either the bounty hunters, the investors or the team itself.

The success rate of the ICO right now decreased drastically within the past 3 years including this year because of different cheaters. This is one of the reason too why most investors doesn't want to invest in ICO already or IEO unless a popular exchange launched it.

[izanagi narukami]

Your opinion still vague.
But one things for sure that someone called cheater can't be alone to affect bitcoin value globally.
They must be in group because crypto getting complex from time to time !

[hd49728]

Cheaters != Viruses.
There are lots of cheaters with Bitcoin and Bitcoin faucets in the past, but they did not force Bitcoin down. It is same for ICO, IEO, or altcoin projects. Only weak teams force their projects down because of incapable to develop their projects technically, and are unable to build up big communities.

[Leo]

. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

that is why kyc is being put in place,  projects that requires kyc from participants will suffer less dump,  because only few participants will enroll

If you take a good look at project that requires kyc,  the number of participants is far more lesser than those project which does not conduct kyc. So In my opinion kyc is the solution for now

[BitBustah]

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

There are cheaters in every business, its not something you can prevent.  From Fifa officials rigging big matches to retail employees stealing from their place of work.  Its just human nature for a lot of people to want more and it will never be completely prevented.

[Kemarit]

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

I guess that's one drawback of being (psuedo) anonymous in this market. One can hide and used a lot of accounts to cheat one or multiple projects at the same time. But I don't think that this could be the biggest problem why projects die. They die simply because their project doesn't add something to the crypto verse. If your project is something unique then it could still flourish and survived whether we are in the bearish or bullish trend. The problem is that most is not unique per se, and when taken advantages of fraudsters and pump-and-dump groups, it can't recover, specially when the hype die down.

[inoes]

lots of cheating, from scams, multiple spam and dump accounts. related to project safety, it seems that the team itself must have the initiative, for example there are two new channels, dubbed security token offerings (STO) and initial exchange offerings (IEO) worth testing, to understand what is really needed by each opportunity.

[peter0425]

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

If you had learn about cheaters the you must create a reputation thread about this person or report to those thread created for something bad doing here in crypto because if you just let them continue their bad habits here then surely this community will die in future
We need to do necessary actions if we found things that is not fair for everyone

[Herbet Fry]

I very much doubt that "cheaters" are the downfall of crypto projects. That is just silly. A real project won't fail no matter what.

Why are you worried about cheaters? You worrying about the wrong thing. Worry about the projects cheating us no the other way around. Why do you want to protect them?

[Gahs]

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

It's actually long overdue, the industry needs transparency and regulation, but the big question is the structure and who will run the regulation, and how transparent they are going to be, remember we all thought rating sites are going to help us scrutinize every project, but they end up conniving wit these dubious projects.

IEO is a lifesaver for investors if not for this, investors will turn their back to crowdfunding and they will just buy coins in the market.

The last IEO I partook in wiped off 85% of my investment.
IEOs are not that better than ICOs...
Lesson learned.

[TalkStar]

Scammers always try to commit their fraudulent activities on popular areas. Nowadays crypto is the most popular thing because of its large community. Its the main reason why scammers are targeting crypto related projects for committing their scam game. As like as in every second we are getting new users on crypto world on the other hand bunch of scammers are recruiting too.

I will be happy to get the complete description what actually you are trying to say through this post. Its kinda tough to understand the exact meaning of your thread.   

[maydna]

I guess that will be a mistake because that project cannot control who the cheater is. At least they can minimize the joining of a cheater in their project. They can use many ways to prevent a cheater from taking a lot of profits from the other members. If that happens, then I guess the project needs something else to make sure their project will be safe from the cheaters, although that will be difficult to do.

I think you can see that some project already hire a company to prevent cheaters, and some of them are using KYC to avoid that thing. But if using that way cannot stop a cheater, then there is something wrong with both the project team and the company.

[TIDOVEE]

I have always believed the ICO & IEO are setup to help reduce scam and fraudsters especially to favour crypto users.
Even KYC is supposed to reduce fraudulent acts. Now, irrespective of whoever is securing our account. We are also responsible for the safety of our account.scammers are everywhere now voraciously looking for who to victimize. Beware!

[migws]

In my opinion it should create a special register based on the Blockchain in which there will be all information about the crypto projects its workers and creators. If the project turns out to be fraudulent, then all participants automatically fall into the block list and everyone will know that these people are scammers and their project is a scam. This information will be recorded on the Blockchain and this will help to protect people from scam projects as much as possible. To get into this registry, each project owner must register it on a valid official site. So how do you like such an idea?

[finaleshot2016]

Cheaters are like viruses to the IEO's and ICO's already and they are growing in a rapid rate. What I mean is in every ICO or IEO that is launched, there will still be cheaters on it. It is either the bounty hunters, the investors or the team itself.

The success rate of the ICO right now decreased drastically within the past 3 years including this year because of different cheaters. This is one of the reason too why most investors doesn't want to invest in ICO already or IEO unless a popular exchange launched it.

That's the reason why there's a lot of ICO and IEO that's failing due to improper way of promotion because of cheaters. It's also the reason why some devs of the platform are escaping after the ICO because of bankruptcy and no one didn't invest. So there's a lot of scam projects that are existing until now.

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Regarding about cheaters on bounties, I know someone in our local that have a lot of accounts and they're all in BTC paying signature campaigns. They're just filling the threads with fake conversation and that will lead to the destruction of our own community. The merits are just circulating on them and has a lot of advantages when it comes to debate.

I hope they get banned. 

[Coyster]

Cheaters are like viruses to the IEO's and ICO's already and they are growing in a rapid rate. What I mean is in every ICO or IEO that is launched, there will still be cheaters on it. It is either the bounty hunters, the investors or the team itself.

The success rate of the ICO right now decreased drastically within the past 3 years including this year because of different cheaters. This is one of the reason too why most investors doesn't want to invest in ICO already or IEO unless a popular exchange launched it.

Isn't that enough reason for one not to invest in ICO or IEO bounties, the chances of success are near zero and I consider it foolishness to keep taking that same risk all the time.

I would not blame the bounty hunters that cheat on the campaign or the investors, they actually have little evil effect on  the project. The team is the one to blame for the incessant failures of such projects, until they decide to work on what actually their project can offer to the cryptocurrency network, they'll continue to fail, not to talk of the fact that most of them are scammers waiting to run away with investors money, leaving them with worthless coins.

[sehoon]

IEOs are just well-disquised scams, that's all.
So they pay a fee, you buy their tokens and....what guarantee do you have those tokens will be worth something? None!
But you fall for it because the useless token is already on an exchange and you feel like this gives them some kind of legitimacy. It doesn't.

Just because you know the team, you know where their office is, they are listed on an exchange, they are paying articles to promote themselves is not a guarantee it will not turn into a scam. Remember bitconnect?Centratech? How would have an IEO saved you from it?



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Does this go without saying that all IEOs are scams? From my experience, I really don't have any good experience with IEOs though. But I do join bounties that have something to do with it. This is a thought provoking statement and I never thought of this before and just joined the hype.

[Oyarebu]

You must mean bounty hunters cheaters those joining a particular bounty with multiple account. They are more in altcoin bounties they are so greedy that not only do they have multiple account the still lay their hands on articles with different account also

Absolutely correct mate, the problem is with the breeding investors and the breeding bounty hunters. Many projects have prospect and with good team but, the big problem come in through these greeding micrants in the name of invest or promote the project. Until we have shun ourselves of greediness, we will be seeing projects going down on daily basis as we have seen in the past. Regulations should be the only remedy to this market, and we need it at this time.

[Coyster]

This is a fact, after MB8 coin ICO some hunters that cheated the bounty earned more than usual and after the said token got listed, few weeks later the market crashed because of the dump of the coin which is 99% from the hunters that cheated the system...

So because a few hunters actually got more coins than they ought to, the project crashed and you believe the project would have survived had it not happened that way, I do not quite agree with this.

It's in the nature of bounty hunters to dump coins on listing, forget about if a few got a little more than they actually were supposed to, and it's normal that after such dump the project would experience a nosedive for a particular period of time, but a good project would always recover from such slump and still survive on the market, for the fact that a project crashed that way and never recovered is a sign of a bad project(fault of the team)that probably had nothing to offer in the first place.