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Author Topic: characteristics of fraudulent projects  (Read 2751 times)
Cekerula
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September 23, 2019, 01:03:50 PM
Merited by tk808 (1)
 #1

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes
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September 23, 2019, 01:07:43 PM
Merited by tk808 (1)
 #2

All of that could happen even if you are not yet invested with them.

I can say you did a good job questioning their reliability by putting all this question and putting them on the edge.
That is if you if you really have done it.

I think those are the basics before you put your money into something. Specially in telegram where they answer in speed and like crocodiles waiting for your money to come in.
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September 23, 2019, 01:07:54 PM
 #3

I feel that all criteria that you have listed can help to detect a scam project, but the real problem is that big scammers are acting like professionals and it is extremely hard to mention any of these by their attitude. However, even such projects are stealing money, so we need a better way to detect them.

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September 23, 2019, 01:33:05 PM
 #4

I also felt the same when asking about the growth of their project but they shifted the conversation about my question, I think this is the character of the fraud team.
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September 23, 2019, 01:54:37 PM
 #5

I also felt the same when asking about the growth of their project but they shifted the conversation about my question, I think this is the character of the fraud team.

Agree, if the developer team doesn't want to be open about the project being done and doesn't want to provide product progress, I think this is a sign of a scam project. Communication from the developer team is very important because it can give confidence to investors.
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September 23, 2019, 02:35:17 PM
 #6

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes
I want to talk about the vacation part  Grin since when did project teams start taking vacation? new projects that got launched a year ago don't deserve such lol, old projects teams don't take vacations its new project's teams that's taking vacation, its absolute rubbish
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September 23, 2019, 02:37:44 PM
 #7

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes
Lol the vacation idea is just an excuse to make investors think that everything is going fine as planned, miracle tele project did the same to fool investors after a leaked of mails that CEO abandoned the project, they have no other way to calm investors than the vacation idea

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September 23, 2019, 02:50:58 PM
 #8

You will get all of those characteristics at the middle of stage but for me, it's really important to know what is the main indicator to identify the fraudulent one at the early stage just like any fraudulent project will always use fake information regarding the location of its company or the team.
It always used non sense idea.
All of the characteristics that you have mentioned above related to the fraudulent project when it was running.


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September 23, 2019, 02:57:31 PM
 #9

I feel that all criteria that you have listed can help to detect a scam project, but the real problem is that big scammers are acting like professionals and it is extremely hard to mention any of these by their attitude. However, even such projects are stealing money, so we need a better way to detect them.
Indeed, its difficult to find which is not the hoax or the better one between them because you can be deceive by their words. Some of us had some trust issue regarding about some stuffs like this, and that is the reason why we need to be cautious and attentive because they are everywhere. They take advantage on a person they think is fool enough to fall for their tricks.

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September 23, 2019, 03:30:04 PM
 #10

I believe that such projects should be immediately avoided.  I also saw how the user was blocked for a question that the chat administrator could not answer.  It doesn't seem silly to you.  Where the world is heading.  People try to deceive other people, but do not know anything themselves.

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September 23, 2019, 03:35:38 PM
 #11

Such a thing is indeed true especially on the MiracleTele project telegram channel, I am one of the victims of project fraud and also a victim of deleted users when I question the continuation of their project.

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September 23, 2019, 03:46:30 PM
 #12

Fraudulent Projects is really existing and base on your post I guess this is based on your experience, I can sure say that all you want to do is to be sure if the project is legit and relatively active in asking questions but the team had cut you lose so you will not be big trouble regarding their fraudulent ways, In my opinion you had done the right thing and I see that you really want to share your side in the forum for newbies to see but it will also cause a negative side in the community as well, but I am not saying that what you did is wrong its just that many people now are not believing any new project now and if there are fraudulent one we can not take aside the truly legit ones that just want to give a truly remarkable service or application to the community, Well in this sense it will surely going to be lump with the fraudulent ones.
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September 23, 2019, 04:43:05 PM
 #13

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes
Any project teams that do the following on OP are heartless people who don't care about investors fund, if i find myself in such position i will sell such coin or token on exchange and invest in other project, such teams will be shady as heck and they will always put investors in the darkness

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September 23, 2019, 04:57:27 PM
 #14

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes

yes, absolutely right
a project will continue grow or dead is depends from their team member
and because of that we must knew about their team member first before we do another step in their research about the project  Wink
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September 23, 2019, 05:05:23 PM
 #15

That's more like it. A shady team or project hates it when community members asks challenging questions which can lead to more members asking too, so what they do is to ignore the question, but if it becomes persistent they will remove the person. Also, another turn off you clearly stated is lack of updates to the community; as sad as it sounds this hugely takes place after public sale, they will just go blank. Nevertheless, all these you stated should be carried out first and foremost to know the credibility of the team etc, if possible provoke them to see how they will react.

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September 23, 2019, 05:26:02 PM
 #16

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes
Annoying? it will apply if you enter the project. If that happens, not only annoyance, but feelings of disappointment, anger will become one. That's the importance of research before you join a project. don't be greedy if you don't want to get into the fraud project.

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September 23, 2019, 05:49:41 PM
 #17

- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

Maybe your opinion can be a general reference, but actually your opinion is still not able to characterize complex fraud. If you look at history of biggest scams a few years ago such as Bitconnect, OneCoin that they are all not included in characteristics you mentioned above, they are so professional in handling community. So frauds are hard to predict now because they are like chameleons, but your character can be a general reference.

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September 23, 2019, 06:14:26 PM
 #18

it's so annoying.
and that is the importance to dig deeper information before investing in a project.
You have done a good question, that way you will know the actual team criteria.
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September 23, 2019, 06:27:47 PM
 #19

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes

The list above is after the project have collected their ICO/IEO fund from investors. The main thing is before they colleced the fund from investors. Most will respond to obvious naughty questions before their ICO.

What to look out for are:

1. Do they team have MVP
2. How is their commit activities on Github.
3. Verify their Partnership claims
4. When was their website created and their social media platforms

All these will help to know a scam project


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.PrimeDAO - An Adoption Engine for Open Finance.
Furryball
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Base Protocol: Baseprotocol.org


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September 23, 2019, 06:48:35 PM
 #20

when investors and the crypto community already believed, but the team said differently!
- The team did not respond well to the crypto community.
- The team is very shady and does not provide updates about their projects on the telegram & social media channels.
- The team plans to take a vacation
- The team blocked accounts one by one from each community who questioned about the development of the project.
- and finally you are banned in this group  Grin

it's so annoying, how you feel?  Roll Eyes

The list above is after the project have collected their ICO/IEO fund from investors. The main thing is before they colleced the fund from investors. Most will respond to obvious naughty questions before their ICO.

What to look out for are:

1. Do they team have MVP
2. How is their commit activities on Github.
3. Verify their Partnership claims
4. When was their website created and their social media platforms

All these will help to know a scam project
Many people care less about when project websites are created but i take it very serious, scammers can never create websites for a long time before this days, they like rushing things out, a long developed projects always have websites that has been created for a very long time

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