Cheaters . who caused the cryptocurrency to go down

[ohyeahhaha122]

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

[coin-investor]

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.

[stompix]

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

There is one already and you have access to it, it's called common sense, just use it

IEO is a lifesaver for investors if not for this,

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?

[Upgate]

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

[amyshek1979]

I believe there is the company who's specialized in controlling fraud already - SEC.

[kryptqnick]

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 the guesses of other people who replied above are correct, you're talking about Initial whatever Offerings that used to be popular and some even very successful but are mainly in the past now. If you're talking about ICOs, IPOs, and IEOs, then I disagree that there are many good projects and that it's bounty hunters ruining everything. If we need a watchdog, it should probably focus more on the projects themselves than random people online trying to make some money. And the responsibility for abuses should be on the organizers of Bounties. I believe so because the amounts of more in these two cases are very different, so the risk is much higher with the projects themselves.

[pixie85]

I believe there is the company who's specialized in controlling fraud already - SEC.

And what if the fraud happens outside the US? Also doesn't the SEC only fine people? They Can't put you in jail there has to be a trial for that. There were people who stole a lot of money then paid the SEC some money and walked free with the rest.

What project are you talking about OP? If somebody was able to cheat the system by using farmed accounts you should rather blame those who gave him that opportunity and that was the team behind the ICO.

[AmoreJaz]

I believe there is the company who's specialized in controlling fraud already - SEC.

And what if the fraud happens outside the US? Also doesn't the SEC only fine people? They Can't put you in jail there has to be a trial for that. There were people who stole a lot of money then paid the SEC some money and walked free with the rest.

What project are you talking about OP? If somebody was able to cheat the system by using farmed accounts you should rather blame those who gave him that opportunity and that was the team behind the ICO.

and to make things straight, fraudsters or bounty cheaters are not the main reason why a project is bound to fail or is failing.
the op should take into account what percentage of the total coins or tokens are allotted to these bounty programs and evaluate for himself if that would greatly impact the destiny of the project!
they are normally a very small percentage as compared to how much the team are raking for themselves.
there are projects who are blaming their bounty hunters who are dumping their tokens but that is the main reason why they joined the bounty, to sell their share afterwards!!!
if the op is still blaming those hunters then i guess he's not looking at the bigger picture here...

[harizen]

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

Who are these cheaters you are talking? Bounty hunters? And what is the project?

If it's about the bounty, there's an allocation for that to the point that even all of it was used to dump, it can't really bring much down its price once it was listed on an exchange. $5,000 worth of rewards that will be dumped by that cheater will not really affect the whole market of that coin.

Don't just blame the bounty hunters while these projects die. There are lots of factors to consider like market situation etc. And at most of the cases, these projects, even coming from a successful ICO, can't able to maintain and follow their development plan and roadmaps and will just leave their investors hanging without any updates.

[Herbert2020]

there are really a lot of very good projects.

this is the mistake you are making which leads to your confusion about altcoin price dumps and you think it is some sort of cheating behind the scene by some malicious person killing the "good project".
the reality is that the projects are shitty. at least 95% of the altcoins have no reason to exist but they do. so obviously they have to die. and that is exactly what's happening. they lose value and slowly die. so in other words what you see and are confused about is a very natural thing in this market.

[TheBeardedBaby]

I saw a person who created a lot of accounts to cheat and eat over 5000 $.

Where did you saw this person? Give us some more info so that guy can get what he deserves. You guys have to understand that if you see something wrong you have to act not sit aside and complain.

If we don't take actions to stop those scammers how can the common people accept the crypto currency as a secure solution. They just gonna ignore everything crypto related and never come back.

[target]

Its the whales who wants to accumulate more btc who controls the market, its them that causes the price down. Of course those who sell in low price but that's just it. If you panic, they win. Bounty cheaters just earning pennies but those early investors will dump before bounty cheaters collect some usds.

[carter34]

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

There is one already and you have access to it, it's called common sense, just use it

IEO is a lifesaver for investors if not for this,

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?

I think your idea is right in some sense that they have hid themselves in exchanges so that investors would believe they are real but I think is still better than not being listed at all.

Now, with the coin in exchange, you can also sell if you are lucky before a shit project gets dumped finally.

[Janation]

I am more curious how did you saw that person creating a lot of accounts, I mean, did he call you and show that he's doing those accounts and scamming people?

By the way, this is a decentralized community, it is hard to track people and that is why they can create multiple accounts and scam people. That is the reason we need to be more knowledgeable since if we investors can identify a legitimate project from illegitimate project, scammers will stop doing what they are doing. Another thing is that not all of these projects are planned well that is why despite garnering a lot of investors, their project still failed.

[pieppiep]

I don't think cheaters can make a project lose their money because if that happens, then there is something wrong inside their project. They should know that the cheaters can participate in their projects, and they need to prevent that thing. If they cannot handle that thing, then yes the project will fail.

If we say about the rewards for the bounty hunters, the rewards are not too big depends on the total amount of the tokens so the team can cover their losses by using another strategy. It is their job to prevent the bad thing that will come to their project, and they need to know how to solve the problem.

There are a lot of projects but only some of the project which can get success and if the project success then maybe we can call that the project was good enough to compete in the market.

[hd49728]

OP,

It is so easy to blame on cheaters for failures of crypto projects, but the fact is cheaters don't have kind of huge negative effects like that.
They usually dump their coins/ tokens that they received by cheating, but what do they have after dumping all those cheated coins / tokens? Nothing.

Additionally, cheaters obviously cheat Facebook, Twitter, Instagram, Steemit, but please tell me: "Have all those platforms gone down due to cheaters?"

[Kakmakr]

The ICO scene actually introduced the Bitcoin scene to a lot of new scammers and cheaters, because it was a easy way for people to present a "fake" project under the cover of a anonymous persona and also using a pseudo anonymous payment method.

To make things worst was the this was being done during a time where legitimate ICO's were making millions and these scammers preyed on people's greed. Advertising was also very easy, because they used large social media platforms to advertise these "Get Rich, quick schemes" ...but things have changed now that large social media has banned Crypto currency based ICO's. 

[cr1776]

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.

It isn't really clear what OP is talking about, but the industry just needs people with common sense.  People who think it is reasonable to "earn" 5% per day with no risk don't have that.  Likewise these projects if they are awarding coins without doing some due diligence have no reason not to expect to get taken advantage of.  It is the projects that need to reform their practices.

[goinmerry]

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

Let's changed the story, let's say if ever an investor dumps a $5,000 worth of tokens that bought during ICO, you will assume that the project will surely fail?

Don't blame those cheaters. If you will look at the bounty allocation, only few go to the bounty program and that $5,000 worth of token is just a small portion of that bounty allocation. Just do the math from there.

If you are talking about bounty cheating inside the forum's premises then report that user to the mods with complete details and proofs.

[airdropdude]

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

There is one already and you have access to it, it's called common sense, just use it

IEO is a lifesaver for investors if not for this,

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?

This is absolutely right, I've been wondering also what because I'm always like does IEO guarantee that a project is good? . Although I've been into cryptocurrency since 2016 but I fell into several traps.
I see a right answer here because I wanted to participate in an IEO which took place in Bitforex month ago but I was late.
Now, when I check the token, I see it far less than the IEO price and many investors are not happy in their Telegram group.
Definitely, IEO doesn't mean a project won't turn out to be scam and No IEO or ICO doesn't mean its not scam also as I can think. We just need to use our Brian not heart.