characteristics of fraudulent projects

[kidbounty]

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 

it's so annoying, how you feel? 

All in the list that you have mentioned is absolutely true that most of the team members are making a lot of false excuses when some of the investors are starting to ask questions about the project. It is the reason why a lot of investors are starting to lose their trust in ICO projects because of this fraudulent projects.

One thing need to be noted is the fraudulent project usually have a team that's very lazy and they seems to only have limited people who are responsible for connecting to their "fake" community.
I've been talking with so many developers including the shady ones and the lazy characteristic is usually what makes me refrain from joining their project, it seems like they are coming unprepared and just want to grab the money.

yes you're right, can they be lazy to answer investor questions. and another usually when the ICO is still in progress they always share information about the project constantly. but when their ICO is finished, it's as if they disappeared. and this happens in almost all scam projects that I've seen.

[1714773201]

1714773201

[1714773201]

1714773201

[1714773201]

1714773201

[Vispilio]

There is so many of these scams accumulated over the last couple of years and tens of thousands of wronged investors & bounty hunters,
that a serious distressed asset firm should look into raising class action lawsuits against fake ICO's.

At least some of the investments might be recovered in this way in some of the more litigious jurisdictions.

[bvg96634]

The list that you have mentioned is spot on brother, but the problem is that these scammers are acting so professionally that you can’t tell the difference. These scammers have now become so professional in scamming people that you can’t tell the difference, even the highly skilled and experienced people cannot tell the difference between these scammers and original project.

[Thefrolly]

Most fraudulent projects are quite easy to foretell. There are few characteristics that have been very common with projects that end up being fake and scam projects. One of the first way to know that a project is fraudulent is through their white paper. Many of them lacks professionalism, and fail to sell a proper idea. sometimes, whitepaper could be really good too, but project can be fraudulent. Another way to know is if the team members are not of credible characters, then the project is most like fake.

[gaston castano]

that's why we have to do research first, yes I think it will be difficult to distinguish because it makes their project as real as possible.
but by doing your research at least reduce the percentage of you affected by a scam project.

[JCviggen]

The list that you have mentioned is spot on brother, but the problem is that these scammers are acting so professionally that you can’t tell the difference. These scammers have now become so professional in scamming people that you can’t tell the difference, even the highly skilled and experienced people cannot tell the difference between these scammers and original project.

it is a fact. Now it has become too difficult to understand which project will turn out to be a scam, but I can say for sure that the scam of projects has become less than half a year ago and by diversifying your money you can reduce the risk of investing in scammers

[matchi2011]

The list that you have mentioned is spot on brother, but the problem is that these scammers are acting so professionally that you can’t tell the difference. These scammers have now become so professional in scamming people that you can’t tell the difference, even the highly skilled and experienced people cannot tell the difference between these scammers and original project.

it is a fact. Now it has become too difficult to understand which project will turn out to be a scam, but I can say for sure that the scam of projects has become less than half a year ago and by diversifying your money you can reduce the risk of investing in scammers

You can reduce your risk also by investing with existing projects instead of trying your luck with new one which prone with scam developers. If you can invest with known projects even it's not that quick to richness like investment opportunities. Be specific about what kind of work that you will going to invest your money, the usages will speak out from good and bad projects around this industry.

[mickey_miner]

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 

it's so annoying, how you feel? 

I am suspicious of projects that are active in social networks, but their posts do not carry any information about the project. Usually, such projects spread news from the crypto world)

[desticy]

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.

It is obvious that the more often scammers open the more neat and trickier they become. The largest scams that have collected the largest amount of money can still be called deception professionals.
If you are asked to give your money, they promise huge profits, but the project itself ignores or hardly answers uncomfortable questions - most likely you are scam.

[minersday]

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 

it's so annoying, how you feel? 

In addition to these, fraudulent projects usually do not have any specific idea or products backing them. Also, they have huge discounts for investors.

[manok jepang]

I added a little, the security of SmartContract must also be questioned, sometimes there are many Airdrop projects that we ourselves don't know about in terms of the SmartContract Source Code security. As an example in the case of Token Monero Gold (XMRG), where the contract maker can make the Token as free as he can even exceed the specified supply, because it causes many people to suffer losses because the token has been registered for CoinExchange somehow the CEO doesn't conduct an overall audit of the smartcontract code and pass listing on their exchanges. In the end, the perpetrators managed to dump infinity the number of tokens in CoinexExchange, so be sure to invest / buy Source Code tokens are really safe, especially projects that rely solely on HYPE & Airdrop, or at least the source code has been verified by certain institutions.

[leynuuuh]

Based on my experienced before. Yes it is hard to recognize if the project is scam or what. Because if you'll see the team behind of the certain project it looks like real, but when the game runs, everything turns to nothing and your time and efforts just for nothing. It is really hard to recognize if the project is real or not, I hope someday that they will make a security before a team create a project. They will get some important or supporting identification of the team, so that we can try to reach them if there's something wrong in the project.

[mr_random]

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 

it's so annoying, how you feel? 

In addition to these, fraudulent projects usually do not have any specific idea or products backing them. Also, they have huge discounts for investors.

Huge discounts are the reason not the result, in my opinion, there are successful projects which achieved the determined top levels as expected too. Which products are important for the crypto community are the changing variables and using these variables the scammers kinda throw a dice. Only inexperienced investors become a victim during the hunting process and the education is not alone enough for saving the rest of crypto investors, in my viewpoint.

[Faxmate]

These are not all the factors (reasons) that scammers use to attract investors. Certainly a large number of scammers is annoying and therefore we must be careful in choosing a project for investment.

Scamming has been with us since the birth of human race and it is up to us to be smart. Scammers are in both world, whether real or digital. No doubt it is easier to be fooled in cyber space due to lacking of knowledge but everything has its pros and cons. The simplest and easiest way to stay away from such fraudulent is to believe in those coins that have remained in market for long and never take obvious baits.

[Ailmand]

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 

it's so annoying, how you feel? 

Not being credible when answering a community member's question makes the team a bit shady, not to mention if they keep on making excuses and delaying any words or promises they made with the community. Also banning members that is making a point that can exploit the team can also be one of the sign. A legitimate projecr can answer any question and criticism with confidence.

[Jorge158]

These are not all the factors (reasons) that scammers use to attract investors. Certainly a large number of scammers is annoying and therefore we must be careful in choosing a project for investment.

Scamming has been with us since the birth of human race and it is up to us to be smart. Scammers are in both world, whether real or digital. No doubt it is easier to be fooled in cyber space due to lacking of knowledge but everything has its pros and cons. The simplest and easiest way to stay away from such fraudulent is to believe in those coins that have remained in market for long and never take obvious baits.

Well said, investors need to help themselves as there are no mechanisms on the crypto space to check on these scammers and their projects. Investors are always advised to stay alert and avoid projects which provides enticing offers which looks almost impossible for an ordinary crypto project. These offers are normally sent out via mails from unknown sources. Let's be more vigilant and do more research to identify these scam projects.

[Hamzaal24]

Your points are really good piece of information. To scam project these tips are helpful. I believe investor should use them and check market trends before investing their money.

[Flooks]

Your points are really good piece of information. To scam project these tips are helpful. I believe investor should use them and check market trends before investing their money.

The person is right, if you carefully analyze the project team, their social activity, you can identify scammers. But it takes a lot of time, it’s good that we have this forum, many here reveal scammers.

[shoreno]

Your points are really good piece of information. To scam project these tips are helpful. I believe investor should use them and check market trends before investing their money.

The person is right, if you carefully analyze the project team, their social activity, you can identify scammers. But it takes a lot of time, it’s good that we have this forum, many here reveal scammers.

yes its not easy.  it takes time to do a reasearch and anlaysis but its worth the wait and effort once you are succesful on the project that you joined  but luck will also matter here because there are those who did all the steps but unfortunately they only caught a not so good project . the forum has a scam accuse and reputation board where they bust scams and frauds but outside the forum there are those who review projects  . you can also use those as reference aside from bitcointalk

[Masyudhi]

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 

it's so annoying, how you feel? 

Of course it will make us feel very upset and when I find a project like that, I will choose not to participate and invest in it because when the team of the project is not active and does not provide updates about their project, it has become of little value and it can be said that this project is not good and the best decision is to look for other projects by looking at the team and the product that is delivered, the activeness of the team to respond to every question will certainly be more value for us to decide whether to participate or not in the project.