characteristics of fraudulent projects

[Neo.op]

Team is important. You have to check project team and you can decide if its fraudulent or not. Use image search to decide if pictures are stolen or not, check linkedin profiles and decide if team members are fake or not. You can check website and domain information, also telegram groups if they filled the group with bots etc. There are many signs in my opinion.

[1714960784]

1714960784

[1714960784]

1714960784

[1714960784]

1714960784

[1714960784]

1714960784

[TaliskerDarkStorm]

-The project that says it's the best is a fraud.
-The project that sells an old technology like new is a fraud.
-The project that says their ico price will be 0.50 or above is probably fraud or that price prediction never happen.
-The project has a poor whitepaper and documentation quality is a fraud.
-The project that doesn't want to spend on marketing is a fraud.





-

[wxa7115]

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.

And this right now is the biggest issue, scammers are learning they know that they cannot expect to get a lot of money by just registering a website and creating an ANN thread, they know they need to put more effort into it if they want to earn money and they are willing to do it, now it is very difficult to distinguish a legitimate project from one that is a scam and when you cannot tell the difference between the real thing and a fake how can you invest in this market?

And the answer is that many people like myself have decided to stop investing in new projects precisely because of that, this is unfair to those that have a real desire to create an interesting project but we have no alternative.

[dcomomal]

For me the lack of working product would be the first and only sign of a fraud project. Such times have passed when a project could scam people with a good whitepaper and original website. Investors are getting smarter.

[JeffBrad12]

For me the lack of working product would be the first and only sign of a fraud project. Such times have passed when a project could scam people with a good whitepaper and original website. Investors are getting smarter.

as I know project trying to gather the funds using ICO is to realize or make an execution to their idea and thus resulting in a working product, maybe some of the projects out there are already having a working product even before the ICO being announced but it's still not right to judge a project as a fraud just because of not having a working product while the sole purpose of creating an ICO is to gather fund.
Maybe it's better to judge them by whether they are following their roadmap or not, although there are some other factors aswell.

[wxa7115]

For me the lack of working product would be the first and only sign of a fraud project. Such times have passed when a project could scam people with a good whitepaper and original website. Investors are getting smarter.

as I know project trying to gather the funds using ICO is to realize or make an execution to their idea and thus resulting in a working product, maybe some of the projects out there are already having a working product even before the ICO being announced but it's still not right to judge a project as a fraud just because of not having a working product while the sole purpose of creating an ICO is to gather fund.
Maybe it's better to judge them by whether they are following their roadmap or not, although there are some other factors aswell.

But if satoshi could have a working product in the form of bitcoin and he did not received any funding, why new developers cannot create something new and have a working product or something close to it when this market is now so popular? It is not like they have to create everything from zero, they can look at the code of bitcoin and many other coins and find inspiration for their coin.

If this could be done 10 years ago why developers cannot create their coins without any funding? Why do they need so much money? The short answer to me is that the majority of those coins are scams.

[Bpip.org]

For me the lack of working product would be the first and only sign of a fraud project. Such times have passed when a project could scam people with a good whitepaper and original website. Investors are getting smarter.

as I know project trying to gather the funds using ICO is to realize or make an execution to their idea and thus resulting in a working product, maybe some of the projects out there are already having a working product even before the ICO being announced but it's still not right to judge a project as a fraud just because of not having a working product while the sole purpose of creating an ICO is to gather fund.
Maybe it's better to judge them by whether they are following their roadmap or not, although there are some other factors aswell.

But if satoshi could have a working product in the form of bitcoin and he did not received any funding, why new developers cannot create something new and have a working product or something close to it when this market is now so popular? It is not like they have to create everything from zero, they can look at the code of bitcoin and many other coins and find inspiration for their coin.

If this could be done 10 years ago why developers cannot create their coins without any funding? Why do they need so much money? The short answer to me is that the majority of those coins are scams.

my short answer is only one.
no developer as smart as Satoshi.

if all new developers have intelligence & honesty like satoshi, then ICO is no longer valid.

[Lantind]

my short answer is only one.
no developer as smart as Satoshi.

if all new developers have intelligence & honesty like satoshi, then ICO is no longer valid.

Yes, and the ICO was formed to raise project funds carried out by the project developer, so it's different from a satoshi where he develops the project and the system from his own ideas and uses his own funds as well, even though there is a team that he forms for the project, will but he didn't show it because they worked sincerely in building something that was beneficial to everyone.

[joseyphil82]

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? 

Honestly I will be glad if any of this happens because it's not easy to detect fake projects this days, the most effective way is asking big questions in the project group, this can easily make the scammers pissed off and block you, if this happens just leave and move on, at least you aren't in loss

[bayudndy]

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? 

Honestly I will be glad if any of this happens because it's not easy to detect fake projects this days, the most effective way is asking big questions in the project group, this can easily make the scammers pissed off and block you, if this happens just leave and move on, at least you aren't in loss

Today we can easily see scam projects because investors are so much smarter than before. They will check everything related to the project, and if they detect some non-transparent issues, they will certainly flag it. That's why new projects in 2019 and 2020 are continuously failing

[JeotQ]

I hope you haven't invested in the project before detecting all this? You don't have to invest first, you can detect how determined the team are just by asking them tough questions on telegram and expect to get blocked if the project is scam

[Shallow]

The first point is one of the fastest way of knowing them, I think a team building a project should always be ready answer questions from the community. Yes they can't be online all the time but answering the questions whenever possible is very good, it shows that one can only answer what he knows. Banning of accounts is also a good way of identifying them, because they would like to keep the group free from people who ask tactical questions so as not to expose their lack of knowledge of the project. Lack of update, shows something is wrong with the project and care should be taken with such projects.

[jessyj48]

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?  

Sorry to say, the absence of all these points on your list still doesn't guaranteed that the project you join is not scam, few scam projects in crypto space are nearly perfected that you won't notice any flaws until the very day they turned scam

[Iyanu14]

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? 

Well, these are good parts of the characteristics or red flags towards a bad project.  However, some may not even do these and still turn out to be fraudulent at the end of the day.
One thing we should also look out for is "unrealistic promises or vision"
Don't fall easily for some seems impossible promises of some projects.  When you observe critically and you are able to conclude that the promise or mission of that project seem to be unrealistic, then it is a red flag on it's own.

[gundala]

--

it's so annoying, how you feel?  

Very disappointing. They only give hope without certainty. In addition, they cannot provide certainty regarding important agenda or schedules, for example, token sale, listing schedule, etc. That is an indication that the dev team is not really ready to carry out the plan, very unfortunate.

I hope you haven't invested in the project before detecting all this? You don't have to invest first, you can detect how determined the team are just by asking them tough questions on telegram and expect to get blocked if the project is scam

Sometimes, the dev team acts professionally at the start of a promotion. Over time the ethics diminished, there were no updates, then came shocking announcements, delays, and slowly they disappeared.

[Twinkledoe]

The first point is one of the fastest way of knowing them, I think a team building a project should always be ready answer questions from the community. Yes they can't be online all the time but answering the questions whenever possible is very good, it shows that one can only answer what he knows. Banning of accounts is also a good way of identifying them, because they would like to keep the group free from people who ask tactical questions so as not to expose their lack of knowledge of the project. Lack of update, shows something is wrong with the project and care should be taken with such projects.

Basically, the OP listed the items to look at for a project heading to its demise. But for a project that is only starting in the community - look for team profiles, legality of the company, whitepaper content, roadmap, website content and other related articles about the project. Sometimes you will read an article from google that this person scammed this person and he is part of the team. Are you going to trust a project that has a team member alleged to be a scammer? I hope not.

[BuNga_cute]

Everything you explained related to the characteristics of scam projects,I has experienced it. Like the team not responding well and
also the team took too long to make updates about their projects. Then not long I was removed from the group, because asking too
many questions about the development of projects. Very true my feeling when it was very upset and until now if remembering that
makes me angry.

[BlackFor3st]

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?  

If I saw any sign of fraud in any project I usually stop supporting them in order to minimize my loss because if I will continue to support them I will just loss my time and effort. So I was unable to feel their existence that much but if I will be in that situation I will surely feed bad why I supported a bad project as I am not a type of person who blame the managers.

That characteristics that you have mentioned are the basic characteristics of a shit project but right now most of the scammers are improving their skills like they act like a genuine project but in the end they will just run the investors money.

[ufaiz50]

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 think I know some of the criteria you mean. first it is better to go away from them because based on what they are doing it is being scammed and they have no plans for new development, while many tokens and coins are developing new features to stay afloat in this industry.

This is a good lesson before investing in projects like this, where you have to understand whether the team is working seriously or just want to rob your money.

[hulla]

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 think I know some of the criteria you mean. first it is better to go away from them because based on what they are doing it is being scammed and they have no plans for new development, while many tokens and coins are developing new features to stay afloat in this industry.

This is a good lesson before investing in projects like this, where you have to understand whether the team is working seriously or just want to rob your money.

Fraudulent projects operate differently and it always hard to notice them right from the get go. Besides, understanding the project team serious working level didnt justify any project to be scam free and i think the best thing to do such situations is to be relevant with the project news in other to easily spot out some unfair thing done by the project team.