Well Organized Scam Projects

[Bitbtc8]

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

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[1714681531]

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[1714681531]

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[1714681531]

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[julerz12]

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

Extensive research. Not just the kind of research wherein you're just scanning the project/startup's website and not doing extensive background search.
You need to look past the wonderful looking website, the listing promises to a prominent cryptocurrency exchange and even to how well-known the team behind such a project is.
Dig deeper until you find some red-flags. Avoid getting lured in with the "nice things" others may say about the project/company; you'll have to do your assessments on your own.
If everything checks out then you may jump-in, but remember, invest only what you can afford to lose.

[Stanlo]

Even with deep research it still won't safe you from well organized scam projects, it's better to rely on Investing what you can afford to lose, some projects will deliver what investors expect just to make them invest more..

[Mighty_crypt]

One way to detect redflags in new project is through their github channel, most times they use other old projects idea, data, etc , a very good project will build their github from scratch

[slackovic]

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

The best way to detect a fishy or a scam project is if it's promising something that sounds to good to be true. If someone is offering you a guaranteed 5%, 10% or even more daily, weekly or monthly gain, then that is a scam. No one can guarantee that much gain on such a short period. 5% gain on a yearly basis is great and everything more than that should be considered at least suspicous.

[Reid]

You go way deep.
Try questioning their authority of the project thru telegram.
See to it that they are widely knowledgeable with what they are doing.

Do video calls with their team. Specially when you are one to invest with them.

I remembered one here who perfected their scam project.
At the end they got the money and that is just the time when people knew they are scam.
Their team is composed of their teachers names in their school.
Damn scammers are just students.

[YOSHIE]

How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people,

Good project or not that's all your luck, in this forum, if you get paid after you work at a certain bounty and get a token.

There is nothing you can do when you find a scam project at the end of the story.
Many cases happened to members here, after working 6 months to one year, finally they were told by KYC, even though from the beginning they were not KYC, like this: https://bitcointalk.org/index.php?topic=5189364.msg52624092#msg52624092
That's all you can do, nothing more, the project still does the deception.

[Santri]

Very difficult to determine maybe by looking at the product, the project objectives that make sense, because I see there are many projects that want to create something impossible

[blockman]

Research does help.
But you have to apply certain researches if you're going to avoid scam projects. As you have described them being an organized will find it hard for you to determine them but as long as you are aware of some precautions, don't say that it doesn't help.

[wozzek23]

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

It would be too hard to figure out those well-organized scam projects. Scammers are also gaining knowledge with their every attempts and when they are coming across various scam accusation and related things. These simply help them to come out legit-like projects and most probably we do not have anything other than getting scammed at the end.

I am extremely sorry if I sound like I am talking in favor of scammers. But what I am trying to emphasize here is, we should not risk big money with every new projects but only what we can afford to lose on the occasions of scam. This is the only practical way, we can do right now against those scam projects.

[eaLiTy]

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

There is no way you can understand whether the project is legit or not, the only solution is to support only projects that have experienced developers who has a track record to produce results in the past not especially in the crypto market but in developing software generally, scammers will adapt to the situation and they will come up with legit looking white paper and use case and even might hire models to be the poster for the projects.

[Akiko]

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

The only thing that will work is do not invest in any new project created today, its better to support old project that we have in the market such as popular crypto currency.

The reason people invest in new ideas is simply because of income/ profit. Everyone wants to earn  by supporting a new  project and hoping that they can mutiply the invested money,all do we know that is not really secure to invest in any new project.

[Twinkledoe]

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

The only thing that will work is do not invest in any new project created today, its better to support old project that we have in the market such as popular crypto currency.

The reason people invest in new ideas is simply because of income/ profit. Everyone wants to earn  by supporting a new  project and hoping that they can mutiply the invested money,all do we know that is not really secure to invest in any new project.

That is my opinion as well. If you don't want to be burned by new projects because some scammers can make a fancy whitepaper and even disclosing their "expert" team members is don't invest at all. Maybe, just do the trading once they are listed. But investing during their pre-ICO or ICO is really not a good idea for me. Most of the time, almost 100% of them, their price goes down so fast once listed, as low as 2-10% of their ICO price even after 2 weeks of trading. So are you going to risk your hard-earned money especially we are still in this crisis? You choice.

[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.

[aioc]

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

I think it has to do with the technology they are bringing to the community, people should check what they are bringing in the table, if this is the kind of project that is just a duplicate of past failed and existing project, better move on to the next one, new projects that are considered weak in the eyes of the community and will just become a pump and dump when it entered the market should be ignored.

[Kaliecious]

every project has the potential to scam, even if it is a large project so we must be selective in managing our money so that it can be developed properly.
for investment do not use personal money, but use free money if something happens that is not desired, do not regret it too much

[casperBGD]

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

Extensive research. Not just the kind of research wherein you're just scanning the project/startup's website and not doing extensive background search.
You need to look past the wonderful looking website, the listing promises to a prominent cryptocurrency exchange and even to how well-known the team behind such a project is.
Dig deeper until you find some red-flags. Avoid getting lured in with the "nice things" others may say about the project/company; you'll have to do your assessments on your own.
If everything checks out then you may jump-in, but remember, invest only what you can afford to lose.

agree, it is better to do extensive research in the beginning of the project, and then do bounty for projects that you trust, it is still not certain that you will end up with the reward received
but if you do not do extensive research at the start, then you will invest your time many times in following days/months, without even knowing if the project is realistic

[SacriFries11]

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.

[Pffrt]

Yeah you are right that it's very hard to understand uf a project is legit or scam by looking everything like I always say, "altcoin market is complex, sometimes you will never even realize that you have been scammed." You have go deeper analysis to understand that. Even everything is okay it's unlikely that the project will be scam one but take closer look again, may be something odd will come because scammer always keep a footprint or wrongdoing of their scam.

[bussybuddy]

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

That's why I'm scared of new projects, they can become scams at any time. The best way to keep us safe is to never invest in new projects, too risky for us to do so. I have invested in OATH before, they have a lot of big partners and big investors. Even though they had a product, but the ended up they exiting the scam