the first reason why fraud projects are increasingly rampant?

[Doranile432]

ICO is the reason why scammers are on here and so far it's been a successful journey for many scammers since crypto space is a haven of freedom where you can do anything to your victims and run away freely, it's a big shame that to this day no single solution for such act

[el kaka22]

You can't really get too much money if you end up using just fiverr and nothing else. There are projects that spends as much as a million dollars to even start their project and they could turn out to be scams as well because they get insane amount of return on their investments.

You could simply use a million dollars to hire the best whitepaper writer, greatest coders that are willing to work for money, insane designers that can build unbelievable images, some awesome marketing department and use the rest to promote it with ADS and bounties and so forth to get even more community behind it. That person will have the greatest project at that moment for spending so much money, but will get almost all investors at his time as well so his one million will comeback to him as tens of millions of dollars which is a great investment.

[Kvalentine]

The result of 2017 ICO is what gives crypto haven away to scammers, since then many millions of dollars have been stolen, crypto space needs a solution badly against scammers, they are the main reason why crypto is still thriving hard today

[Kezacky]

yes such an offer is indeed very bad for the reputation of the ICO, although we cannot blame those who offer the services of ICO makers, but with such services, Scamers will never stop to buy desaign, Whitepapper ICO to deceive its investors. need to be careful before choosing or investing in any project.

[DabsPoorVersion]

This is really ridiculous,

This service is the one that kills those projects that conducts coin offering by providing the scammers' such project and have an easy way of creating their own projects. This only proves that there is no way that projects nowadays have a chance to improve.

[rdewilde]

I always complain about ICO projects not just because of rewards? but because of the increasingly rampant project fraud!

on the other hand the first reason why we find it difficult to know about fraud projects or not, because almost most ICO projects look real !!
and this is very unexpected, that there is a site that offers services to create an ICO project complete with ERC20 Tokens!
with only $ 50 a person can make millions of dollars from the results of fraudulent projects

https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token

imagine if this continues, then the rich will increasingly become rich !! scamers

ICO projects really came with loads and loads of issues and you just pointed out one of their issues, with this method the team or rather scammers can just create a telegram group, website and the scamming begins, literally they didn't put in more resources but most times leaves with huge amount of money. Nevertheless, good a thing the ICO model is no more and in the case of IEO, reputable exchanges tends to accept the good projects.

[Leonardo7]

This is been extensively dealt with on this forum. The fact that it's very easy to create shit coins on the ethereum network without having to pay any penny or not needing a high-level expertise are loopholes for scammers. Stick with the already known project and aways do a wide research to avoid falling a victim.

[Ken_terrance]

Scammers are making huge money out of crypto and it won't stop any time soon, online haven is the perfect place for scammers do not be surprised, from romance scam to bank account frauds and now it's crypto, no one can keep us safe than ourselves, ICO got ruined because of these people but IEO is only better on top exchanges

[tvplus006]

ICO projects really came with loads and loads of issues and you just pointed out one of their issues, with this method the team or rather scammers can just create a telegram group, website and the scamming begins, literally they didn't put in more resources but most times leaves with huge amount of money. Nevertheless, good a thing the ICO model is no more and in the case of IEO, reputable exchanges tends to accept the good projects.

As a rule, such fraudulent projects differ in that they use free site templates, fake team, and plagiarism whitepaper. All this is done in order to minimize the cost of creating a fraudulent ICO. But if you carefully study the ongoing ICO, all these signs of fraud are easily identified.

[TastyChillySauce00]

ICO projects really came with loads and loads of issues and you just pointed out one of their issues, with this method the team or rather scammers can just create a telegram group, website and the scamming begins, literally they didn't put in more resources but most times leaves with huge amount of money. Nevertheless, good a thing the ICO model is no more and in the case of IEO, reputable exchanges tends to accept the good projects.

As a rule, such fraudulent projects differ in that they use free site templates, fake team, and plagiarism whitepaper. All this is done in order to minimize the cost of creating a fraudulent ICO. But if you carefully study the ongoing ICO, all these signs of fraud are easily identified.

Well there are some projects that looks really legit people would not believe that the project turns out to be scam. Reminds me the case of IEO scam in the past in 1 one most popular platform that the aftermath severely destroy that exchange's reputation.
These kind of scam ICO usually using someone else's identities by faking it, so if someone really want to make sure try to find some clarification by forcing them to appear or making clarification video.

[bitgolden]

When you use fake team, free website stuff (hell a .blogspot would do) and stolen whitepaper and just focus on getting as many scammers as you can to your real team and go out there and try to convince as many people as you can, you literally spend less than 100 dollars yet I can guarantee you that you will make thousands of dollars in return. Why? Because when you do an ICO there are just too many people who do not do research at all, their only research is you, the person they are talking to, whatever you tell them they take it at face value and go with it and sometimes they invest hundreds of dollars as well.

You can't get too big that way, you could only make some thousands of dollars and not millions like the real ICO's make, but its still a great return on investment for a scammer.

[someone703]

This is really ridiculous,

This service is the one that kills those projects that conducts coin offering by providing the scammers' such project and have an easy way of creating their own projects. This only proves that there is no way that projects nowadays have a chance to improve.

It caused the ICO to die in 2018. In 2018 I saw this service. They created a project for only $ 500 and then they received hundreds of thousands of dollars from launching the ICO. I believe this service still exists today, but surely everyone has been wary of these ICOs and no one will invest in it.

[Balili]

It's very bad for such projects that scam people with ICO, I have been a victim so many times because I don't know how to really dictate the real and scam projects.
Scammers are making huge money out of crypto and it won't stop any time soon coz new projects are being rolled out. Even IEO aren't 100% perfect

[kindbtc]

The only reason os the greed and these things are everywhere, people will try to cheat, steal, fraud and even deceive to just get quick money but they do not care about what they will get back in return. I believe such money is never useful for anyone and only makes you sad and suffer. It will not make you happy because you have scammed innocent people who were looking to support a legit project and make profit out of it.

[Cheatbtt]

Yes, it cannot be denied that with the existence of ICO-making services, the scamers will use the service for negative things. and the disadvantage of the erc20 platform is that it can be accessed by anyone and it's not difficult to make tokens using the Erc20 platform. this is the root of the fraudulent project that uses the erc20 platform.

[ned.ryerson]

The only reason os the greed and these things are everywhere, people will try to cheat, steal, fraud and even deceive to just get quick money but they do not care about what they will get back in return. I believe such money is never useful for anyone and only makes you sad and suffer. It will not make you happy because you have scammed innocent people who were looking to support a legit project and make profit out of it.

I always believed that those people who earn money by cheating people will eventually lose, but if they initially tell people that if a person invests in a project, then he risks losing his money, then, in that case, the responsibility will be on that person who invests

[Baimovic]

The only reason os the greed and these things are everywhere, people will try to cheat, steal, fraud and even deceive to just get quick money but they do not care about what they will get back in return. I believe such money is never useful for anyone and only makes you sad and suffer. It will not make you happy because you have scammed innocent people who were looking to support a legit project and make profit out of it.

I always believed that those people who earn money by cheating people will eventually lose, but if they initially tell people that if a person invests in a project, then he risks losing his money, then, in that case, the responsibility will be on that person who invests

each investor has his own way to invest their money in coins and ICO projects. generally investing is risky, it is important for anyone before making a decision need to reconsider, because investing takes time and is full of risk.

[bearexin]

It is as it always has been, you using it to shitpost.
I do agree with you that a lot of them look real but seeing scams icos and coins for so many years it is quite hard to believe more than a handfull of projects are of any future.

I thought I was the only one that's noticing this here; it's usually newbies that are complaining about ICO projects and posting other topics, and sometimes I wonder if it's an old forum member that's ghosting around with newbie accounts to post things they don't want to post with their main account.

There are lots of scam project, but I think those that takes their time to go through the ICOs to know what's right and wrong will be able to point out whether an ICO is legit or not, and you should always learn from the experience of others and read articles that can help you in identifying scam projects.

[forexandcryptoauditor]

Yes. This could be the reason behind growth of fraud ICOs, but not primary. Nowadays it's very easy to acquire such cheap services from freelancers and the desired design with all essentials for ponzy ICOs. It's really good that the days are now gone for ICOs and for IEOs two parties should get involved to scam which are projects and exchanges. People are now very much aware of such scams and this is reducing to some extent.

[rexxarofmoknathal]

Any industry in which it is easy to steal peoples money will see it happen.

When it comes to fiat currencies, it's practically impossible to rob someone and get away with it, even if you're doing a fiat crowdfunding campaign or the like.

With cryptocurrencies, that's not the case. People who run scam ICOs can simply funnel their illicit gains through mixers and anonymous trading platforms to get their money out, and absolutely nobody is going to invest to time and resources required to track them down.

That's life.