Well Organized Scam Projects

[SirLancelot]

Only your vigilance and critical thinking will help you avoid falling into the paws of scammers.

Indeed that is why researching before joining or investing in a campaign will make your life easier about it. You know why people keep getting scammed? simply because they are taking the cryptocurrency for advantage, they come for money and easy way to get rich not knowing that they have got with predators in the wild.

Yes, doing due diligence will help anyone to avoid scammy campaigns and projects before wasting efforts or investing with them. I believe it will be more helpful if this community forms a team of people who are experienced in identifying fake team and copied White-Paper kind of things. When that team will be approving a project then only it should come into effect for conducting campaigns and then to be listed on exchanges. This will be simply possible for this community because we are having a lot of powerful people who can influence into exchanges also.

I believe you this way we could identify scammy projects very easily and also participants of campaigns can donate some fee for those the members so that they will not find it as a hard work and they will work more enthusiastically for better environment of this community.

[Shallow]

How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this

Seriously it is painful and the only way is still through research but in this case, a well thought-out research where enough time is invested into finding the truth and not the ordinary glance at the whitepaper or social media accounts etc. Scammers are improving their tactics everyday and hence one needs to be at alert all the time to ensure he is safe. In whichever case, when doubts arises from investing in a project, asking people's opinions is also a good step, as there is no crime in asking.

[thesmallgod]

After witnessing the Denaro scam, I can tell you it is very difficult to detect a scam project even when you deep down about the team. Some of these projects are perfectly organized to the extent that nothing they provide you will be fake. However, I have discovered it is better to participate in projects that if it is not successful, you will get your money back. And this is the reason why you need to know maybe the business is officially registered in the country where they claim to be. Any project that is not registered or you cannot find any information about business registration is not to be considered. from experience, projects that are duly registered especially in europe are not likely to scam you.

[acdc]

At the present time, it is very difficult for us to detect a fraud project. Everything is perfect until the development team leaves and leaves a pile of trash.
Trying to do more research is a way to help us avoid some risk, or better yet, only invest in reputable projects in the market.

[Cryptrx]

Crypto frauds are hidden through different ways, some are easy to detect but some have perfected the act that it is impossible to suspect fraud until they have executed their plan.

[tbterryboy]

Crypto frauds are hidden through different ways, some are easy to detect but some have perfected the act that it is impossible to suspect fraud until they have executed their plan.

You are right. These days it has become to hard to filter out legit projects from scammy one. I guess it would be much better to stay away from bounty campaigns and only investing into any new coin after a clear suggestion from any crypto experts. Because I cannot afford with any losses just due to being part of any scam projects. So, I act slow in choosing new coins and I believe I am staying secured so far this way.

I guess there should be some simple regulatory authority for approving good projects so that small investors like me may stay find this altcoins industry more profitable and safer for investments.

[ahmedtanjid]

Research does help in some cases when you research extensively and dig deeper into the project like who are related to the project, developer's previous track records, what purpose the project stands for etc. Who gives just sweet promises are definitely scammy one. It's hard though.

[ScamViruS]

How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this

Many times they organize projects in such a way that people do not understand their purpose. There are many popular websites that list scam projects in exchange for money. When listed on the popular website, hype is created so that people can easily trust them. The result is a scam ! In my opinion, investors should not invest in any kind of project now.

[fullhdpixel]

You can trust people who are good at sniffing out scam as well, I know there are not that many around and many people to fall victim however check out everywhere else online and you will see comments about the project which are basically decentralized and that way you can find more reasonable people.

For example I do not trust bitcointalk about a project anymore, many people are paid and that is why I do not think they are really all that credible, however I do go to reddit and there I find people who are more free to talk about whatever they want without having any problem, even if mods of a certain subreddit bans people for saying bad stuff, you can find other subreddits who are more free and that way you can find peoples real comments there.

[gundala]

How can we safe ourselves from well organized scam projects? ~~

For projects proven to be a scam, there will usually be a warning from an experienced member here https://bitcointalk.org/index.php?board=83.0

Actually this is difficult to explain, not only need "experience" but also "luck". Projects that initially look good and promise can fail because they are less attractive to the market or choose the wrong strategy. Projects that initially seem usually even doubtful, can be extraordinary and profitable. That is why the crypto world is full of surprises.
The thing that you need to make sure that, whatever we do and choose will definitely bring positive or negative impacts. That is the risk and the consequences that we must understand.

[Mealea]

It is very difficult to totally protect ourselves against scam project because even among ourselves we have scammers. Even those that are providing a way to stoping scam projects are scammers themselves, so tell me how do we protect ourselves against scam project.

[Yaunfitda]

How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this

Then don't invest, simply as that. Just became a holder of trusted coins, like Ethereum or Bitcoin so that you will not be scam by those pretending to be a good project in the beginning but later on they will just disappear. Yes, I will agree that they are well organised and very crafty and good at hiding their true intentions.

That's why as much as you DYOR, you can't really figure it out at the start until it's too late. Personally, I already stop investing on ICO/IEO/STO or whatever, I don't want to risk anymore. Just be a holder!!!

[bgaf]

It is very difficult to totally protect ourselves against scam project because even among ourselves we have scammers. Even those that are providing a way to stoping scam projects are scammers themselves, so tell me how do we protect ourselves against scam project.

Why is it so difficult? I dont know if this true cause being scam will depend on how you react on these scammers trick. OP's asking a wise question because those scammers are actually intelligent and have broad knowledge of blockchain and cryptocurrency. But of course, they are not perfect there still a time they can be caught and those are the task you need to do as a responsible hunter. Search and do study if those projects are legit. There are plenty of ways to know it.

[cabron]

It didn't really help even after the tokens were already listed in the exchange the team can still become a scam in the end and the project can still do the exit scam. None are even going to try to sue the team because it already became normal in crypto that even the exchanges are doing it, we still could just go on.

Yes, you're right. Some projects are already listed but it's end up with nothing and turned into another scam. They should come up with different ideas to overcome events like Btc suddenly drop and other situation that will critically affect their projects. Nowadays, some scam projects are most likely to rely on copying successful projects then editing the context of the platform. One thing for sure this scam projects are without a strong team and sometimes there no project team at all.

Its a very organize scam that exchanges took part of it, they do have a role in this scamming spree. They add the token in the exchanges which they partner up with the team to which they can then dump what they have to the market. This is why some projects are also creating their own p2p exchange to solo the scam, they don't have to partner with exchanges who will take percentage of the total scammed amount.   

[libert19]

No matter how much careful you try to be still things happen, some projects go dead even though their team had good intentions in the start. That's why only invest what you can afford to lose.

[BlackFor3st]

How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this

You are right scammers are upgrading their tactics so it's pretty difficult to trust new projects right now as we will not know whether they are really genuine with their goal or they are only after with the money. There are many who fall victim to this kind of tactics already like some projects out there that almost reach their hard cap but in the end they fade slowly, leaving the investors hanging.

I can't really point out a good counter measure to them not only if there will be government that will create a counter measure to them and put those people in jail once they will be found guilty.

[JHORN]

Intense research is needed to escape well organized scam projects, there should be a flaw somehow, either by asking top notch questions that can get you banned on Telegram group or going through the project github.

[pandanaran]

mainly is research. several other factors such as the positive reputation of the developer in managing the previous project, having a real product or in accordance with the project work map, having a large partner, MYP project and many other things that can determine the project is feasible or not.

[leea-1334]

Part of the means through which scam projects are caught are either through plagiarized whitepaper or fake team, but I have now noticed that a lot of them will try to outsmart in these areas. They might decide not to have a voluminous whitepaper. Some of them even write just one-page whitepaper to escape being caught through that means.

Well to be completely fair,,, not everybody needs a whitepaper at all. But I agree. Just because you have 1 pager does not mean you are good (neither does have 100 pages). But they should have enough to show us what they are all about and let us admit it, most people simply do not have anything useful.

[Retainly_Collie]

mainly is research. several other factors such as the positive reputation of the developer in managing the previous project, having a real product or in accordance with the project work map, having a large partner, MYP project and many other things that can determine the project is feasible or not.

I have seen many project have MVP and are used by many people. But after they finished their ICO and IEO, they quickly became a scam. Now it is hard for us to distinguish the scam projects because they are so smart, everything is perfect until they scam.