How to know if the project is fake?

[armanhusni]

it is very difficult to get a project that is real or fake. because many projects that look perfect turn out to be running fake projects and those that don't look perfect run real projects, and if we review through the addresses, many projects don't include addresses on their websites even though the projects are very perfect and very real. so many things you need to learn before you join a project

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[Diamond_Darrell]

That's a good way to start. The first thing we should do is search about the team members and verify if they are really involved in the project. Most of the fake ICO uses fake names and create new linkedin Ids with those fake names. If you encounter no other reference of the member and just a number of social profile that seem to be made recently than they are surely scam.
You can also try calling the phone number and inquiry the person who picks it up to find how serious they are about the project.

Absolutely right. Of course, this is not a one hundred percent guarantee of a successful project, but it will definitely help determine the real intentions of the developers

[wozzek23]

Checking out what others are saying on a third party place where the team can't reach is a very important thing. For example bitcointalk is the greatest place for that, here you can see people saying whatever they want about the project, they could call it a scam, they could say it is a big trick to get people to give them their money, they could call the creators mean words and all other things and they are free to do so here.

This is why I believe it is quite important to know what the project is like depending on the thoughts of people who are free to speak their minds. You can go to their website, their telegram, their whatever and everyone there will be great, you know why? People who dislike it will be banned or shunned. This is why I believe it is quite important to actually check places like bitcointalk.

[tyoA7X]

quite difficult to find fake projects because project fake just the same as good project there are only a few factors finding a fake project
read the white paper carefully if the project prospect does not make sense it is most likely the project is fake

[Sebas.tian]

Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.

So how do you indentify if the project is fake?

The truth is, many investors don't care to check their projects they choose to make their investment, this has made many of then suffered loose. Also, traders don't carefully embrace the power of investigation before buying into a coin to trade, many of then are been pump by scammers. For anyone to get fake projects will be as a result of greediness.

[dongosquad]

You can easily reduce the risk by investing only in IEOs that are created by real professionals. If the creators have successful projects in the portfolio.
The problem is that most of IEOs are not managed by professionals, they do not understand the problems what will come when they start developing the project.  

This is the most appropriate alternative if we want to avoid fake and scam projects. By investing through IEO, of course, what is handled by the exchange top with a good reputation, we need not be afraid because it must have been analyzed by a team of professionals who are competent in their fields. Lately, fake projects seem so promising, fraudsters are very good at hiding their fakes.
But keep in mind, join IEO which is handled by trusted exchanges with a good reputation like Binance. Ignore IEO on shitexchange, it's just bait.

[Utoy101]

That's a good way to start. The first thing we should do is search about the team members and verify if they are really involved in the project. Most of the fake ICO uses fake names and create new linkedin Ids with those fake names. If you encounter no other reference of the member and just a number of social profile that seem to be made recently than they are surely scam.
You can also try calling the phone number and inquiry the person who picks it up to find how serious they are about the project.

This is indeed a nice way to check the credibility of a project, i often carry out most of your the vetting procedures you list out but often atimes but now, i often look out for the exchange for possible IEO listing and the big partnerships  becuase the success of IEO seems to be majorly influenced by how good the exchange.

[Denreal]

previously I have never checked the authenticity of a new project address, for now, I prefer projects that have been listed on the market, although the price is cheap but the success rate of the project is clear.

yes absolutely right, the risk is very small if the project has been listed in exchange, rather than not at all, many fake projects that appear this year, hopefully we all avoid it

It is only true when you select the altcoins listed in the major exchanges in this market, if you choose the altcoins listed in the small exchanges, I believe you will have a similar result. , the price will decrease many times and you will lose money with it

sometimes the founders of the project will try other ways, maybe by building their own exchange project and making IEO run on the exchange as happened to the BCNEX exchange, which currently has a scam, so you have to stay alert when you want to participate in a new project offer.

Yes, you are right. All the exchange projects i attempted are scam. Well, i do not know if some actually came out plain and were sincere, which i did not attempt. They know that if the IEO is done on an external exchange, they might not be allowed full access to the fund and perhaps, there will be a lockup period, which they are running from.

[InwardContour]

I may be wrong, but the most effective way to detect fraudulent projects is to check the identity of the development team. Very often even not particularly in-depth verification shows that the identity is fictional. To make sure of this, just look at the topic on the forum, there are plenty of examples.

If one can verify if the team is real, capable, reputable, and also if the project has good backings, then its a green flag. For example, you don't expect a project backed by Binance or Coinbase to fail easily. But sometimes projects use fake backings. I had to verify if one project which claimed was backed by coinbase early this year and to my greatest dismay, it was fake, this is just an instance. Sometimes the team use details of other people (imposters), or do put up fake social media handles which look so real with wonderful profiles to lure in investors. Checking team alone is not enough when doing research before investment.

[safem]

There are lots of fake projects and the way to identify them sometimes varies.If one does not know the original project, it may be difficult to identify fake ones.We have to always be on our guard to ensure that we do not fall victim of these fake projects. In some cases, I have been able to identify some fake projects in crypto. Sometimes, majority of these fake projects may have non-functional telegram hence making people to always have a suspence of what fake projects are. It is also possible sometimes to identify these fake projects by websites that are not functioning. Also we have to know as well too that as there are fake projects, there are also good ones.

[poodle63]

previously I have never checked the authenticity of a new project address, for now, I prefer projects that have been listed on the market, although the price is cheap but the success rate of the project is clear.

yes absolutely right, the risk is very small if the project has been listed in exchange, rather than not at all, many fake projects that appear this year, hopefully we all avoid it

It is only true when you select the altcoins listed in the major exchanges in this market, if you choose the altcoins listed in the small exchanges, I believe you will have a similar result. , the price will decrease many times and you will lose money with it

sometimes the founders of the project will try other ways, maybe by building their own exchange project and making IEO run on the exchange as happened to the BCNEX exchange, which currently has a scam, so you have to stay alert when you want to participate in a new project offer.

Yes, you are right. All the exchange projects i attempted are scam. Well, i do not know if some actually came out plain and were sincere, which i did not attempt. They know that if the IEO is done on an external exchange, they might not be allowed full access to the fund and perhaps, there will be a lockup period, which they are running from.

The lockup period is a must. I think if this has already mentioned in the agreement between the team and the exchange site who has been launching the IEO. We have learned a lot from BCNEX is what has already offered by this crap exchange site totally fake and we could also see that from the hot wallet whether it has real liquidity or not.

[Shasha80]

Do research and inquiry on the projects we will choose, I usually start by examining the team projects. If it's real the profile should match
the one on social media. After that, check whether the projects are actively promoting on social media, and finally pay attention to other
people's reviews of the project. If positive is certainly very good, the important thing is to dig in depth information about the project. Later
you will find a conclusion whether the project is real or fake.

[btcholder]

Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.

So how do you indentify if the project is fake?

Yes, it is frustrating. You can start with their white paper and searching about their team member and partners. Social activity, Community support, Real products, Believable idea was also good point in that case. Don't invest those project whom offer so much bonus on their token sale platform, always try to choose legit exchange for ieo investment. And more important thing don't be a fool for their greedy offer, always trust your investigation.

[Blue_oxen]

Yes, it is frustrating. You can start with their white paper and searching about their team member and partners. Social activity, Community support, Real products, Believable idea was also good point in that case. Don't invest those project whom offer so much bonus on their token sale platform, always try to choose legit exchange for ieo investment. And more important thing don't be a fool for their greedy offer, always trust your investigation.

Yes, your way is my way also. I will first start to look at their white paper and doing researches about the project as well as the team members, bounty managers. Then, along the way of investing, I'll keep an eye on their social activity by following their fanpages. The requirement for a project is that their team has to be clear about what they are doing and planning to do by pronouncing it on social media or other communicating platforms!

[shoreno]

The team is fake if they use a plagiarized white paper

no they are seperate . team and whitepaper can be faked both  but they can be a legit team as on what they have proposed but they can fake the whitepaper or they can make a legit white paper but they are composed of fake teams   .

They promote fake team and fake project, by some other people that are trying to detect scams and fraud projects, they are being reported if they manage to have a fake team. Some projects are like this.

thats why we dont need to worry that much  because thankfully there are those scam busters that can detect them  . its hard to know if a project is fake by our ownself but scam busters on the ico/ieo field already have an experience to this , make it more easier to them to do thier jobs   .

[BitcoinTurk]

So how do you indentify if the project is fake?

 
The answer is quite simple, I have an idea about the project by researching the project and evaluating the overall project. The most important details are to research about the project team, to learn the project goals and usage areas, to know which investor audience the project is named, to know the partners and supporters of the project, and most importantly to learn transparent details about the economic status of the project, and to evaluate the project. In addition, when detailed research is done about project team members, you can get information about people and have an idea about how they will shape the future of that project, or you can get ideas about the project by knowing about the team members.

[Kong Hey Pakboy]

Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.

So how do you indentify if the project is fake?

I also felt getting frustrated when I know that the project I participated is a scam or fake, that is why we need to make good research and ask some experts if the project is promising enough that will give you a good profit in the future. We can easily look for the project details if it is fake or not by looking to their team members. whitepaper, lightpaper, and website because it is very difficult for them to fake and these details.

[gaston castano]

fake projects usually don't have a real roadmap or whitepaper and only copy them from other projects so if you take the time to research a project you will get used to it for a long time.
You could say you already know how to choose good and bad projects.
at least you get a describe of the project.

[Sterbens]

The team is fake if they use a plagiarized white paper and i think this is the commonly used by a fake team in cryptocurrency. They promote fake team and fake project, by some other people that are trying to detect scams and fraud projects, they are being reported if they manage to have a fake team. Some projects are like this.

Obviously, and the fake name is something that is not original, so the scammer who made the fake project is sure to use all the fake data for the project's needs, be it white paper and the team's arrangement and project concept are also fake.

in fact it has happened a lot that I see on the board of fraud allegations of many projects by copying whitepapers and also fake teams of course they have stolen concepts from other projects and fraudsters just want money to get so it is not possible to have a brilliant idea for the project itself.

[bayudndy]

The easiest way is to check the whitepaper and team, Usually scam projects will plagiarize and use photoshop images to deceive investors. But right now it's a fairly classic test, scammer is getting smarter and harder to detect