How to know if the project is fake?

[azmirihaque]

Fake project has fake team members. So, first justify the team members. Then, there may be different fake information, offering higher benefit with short time etc. Always be active on the forum and telegram of that project. If you cannot make out of the fake project, you will understand if you follow the forum and other participants.

[Stanlo]

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?

This is not an easy task, I can only give you clues how to avoid scam projects

1. First do research on the pictures of the team, you can use google image search or other image search because some project use stolen pictures

2. Stay away from any projects that use cheap website designs, they are mediocre scam projects

3. Check whitepaper for any plagrism

4. Stay away from any project that gives up too high discount on ICO or IEO

[iv4n]

1. First do research on the pictures of the team, you can use google image search or other image search because some project use stolen pictures

I remember there was an ico where all team members had cartoon pictures instead their own pictures. Some people didn't bother to check the team at all, if they did they would see cartoon pictures and maybe they would realize it's a scam!
Many good suggestions here about how to prevent being scammed. Just people to not be lazy and to actually apply some of these steps to make sure they are investing their time and energy, maybe even money in project that is worthy!

[target]

There are some projects that are easy to see especially if the team didn't put any effort at least provide decent graphics to their ANN and bounty campaign thread. You can already see the team is just trying to grab some coins from anyone who thinks they are safe project.

But with the help of the scambusters in the forum, you'd probably be able to avoid those teams already.  We, bounty hunters, have experienced all these. Its time we learn the lesson to find out which ones are real and not.

[Ridwan Fauzi]

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 often to see in scam accusation boadd which is there are a lot of cases that the project became a scam. One thing that I will see is the team behind the project, yeah that is the first thing that we should do. The team's project will give us a huge profit and make a our money gone all nothing left at all. Usually, the fake project will use a fake picture (someone else) that they didn't know who they are. And the second thing is whitepaper, you can see a lot of project who just copied-paste another project's whitepaper and you can easily find this thing with google search.

[jessyj48]

You can't always out smart Scammers, I'm telling you this right now because I've been on here for a long time now and I have had different experience with different scamming ideas, some scammers are so clean that you won't detect anything until they exit scam

[best2015]

a lot, but it's not certain either
1. team
see the composition of the team managing the project and how their identity can be trusted
2. media
3. exchange
4. price and investment returns

I love how you accidentally (or on purpose) put them in exact right order of degree of importance.
The first thing you need to check is the team and if you can't find almost no info - chances are you should find another project at this point

[Harriti]

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 usually analyze the project team and partners before investing.  Their partners are the important ones. If they cooperate with big partners, the price of coin will be very high.  Besides, they will have very good ANN songs and plan to list them on big exchanges.  Those are the special signs for a successful project.

[Dariusburst]

Apart from learning about scam projects and their weak points you have to pray for luck, some scam projects are well hidious and almost near impossible to detect, no one knew that one coin was scam, all I can say is when something is just too good to be true please avoid at all cost

[el kaka22]

The best way to understand is to read the whitepaper. Not saying that a scam or a fake project can't write a proper white paper because if you pay someone 500 dollars they will write the greatest white paper you can see, which means it is quite easy to write a whitepaper that wouldn't look fake.

However the obvious fake ones always leave some mistakes in there, and that is why as long as you read it carefully you will find mistakes that will show how fake they are.

Secondly look at the team and what they have done previously, if they look like people who are just trying to make some money you will see it on their linkedin and in order to actually trust someone they should be people who have either done something like this before or they should just be successful people in general who didn't need this to begin with.

[judaspriest]

fake project seems to be a new topic, because many ICO and IEO scams are already here, Miracle Tele, KingCasino and Envion, all three of these projects when viewed from the background, all look clear, but they become scammers, hard to distinguish

[Shohag123]

Normally I check the project is scam or not based on some things.There are countless of project and they are scamming us left and right.So if you are aware about some matter you can stay away from fake or scam IEO/ICO project.

At first I check their website and if the website is good it gives me a good impression.Then I check their team.If there is no team in their website ,then I stay away from this project.And if  they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

And at last I go to bitcointalk and look for their Bitcointalk ANN and search for any plagiarism is involved or not.And for the IEO ,I always stay away from LAToken IEO and coinsbit IEO.Always choose reputated exchange IEO such as Binance,Huobi etc.

 

[Anish02]

That's a very effective way to identifies the project is real or fake. Because the project's address is a very important factor and due to that you can check it on Google about the location's actual placement. So it would be a really good solution to identify the project's reality without putting extra effort. Now I should definitely gonna use this method before joining the bounty campaign.

[Erumo]

Then I check their team.If there is no team in their website ,then I stau away from this project.And if  they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

But what if the project is a dex or simply an exchange? Usually they do not show the team, or simply show who is CEO. What will you do in that case? Skip this project/bounty ? And social media, what if they dont have any or do not fill a lot of information in it? For example my grandpa or grandma dont have social accounts

[lumeire]

Then I check their team.If there is no team in their website ,then I stau away from this project.And if  they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

But what if the project is a dex or simply an exchange? Usually they do not show the team, or simply show who is CEO. What will you do in that case? Skip this project/bounty ? And social media, what if they dont have any or do not fill a lot of information in it? For example my grandpa or grandma dont have social accounts

But your grandpa and grandma aren't CEO of any exchange or a project, are they??
These days having a social media presence for the CEO and even developers is must if they want the investers to believe in the team and also the supporters use the social media links to check the legitimacy of the project.
I personally check the LinkedIn profiles of the people involved in the project, if there is any red flag in the profile then I don't invest in the project or take part in their bounty.

[Sanugarid]

It is not too difficult in my opinion to find out whether the projects are real or fake, the first to follow all the social media they have.

how do you judge them by their social media accounts? the number of followers? number of likes? number of activities? you can't really tell if the project is legit or not by their social medias. What only those can give you is a glimpse of the truth whether they are fake or not, that probably gives you just a 5% hint.

If they diligently explain their projects and actively answer questions, it is almost certain that the project is real.

Nope, scammer could also do this too, they can actively engage with their investor on every channel they have and still scam them for the very reason, money.

to make sure that the project is real, by examining the team members of the project in detail.

This may do for clearing the project since the legitimacy of the project members should be in tact for the position they have in the project. You would not want to invest on a project handled by a guy just smiling on his profile without any academic background.

[ZincUnrated]

There are a lot of ways to confirm the authenticity of a project and with a little digging, you should be able to identify a fake project from a real and genuine one. Firstly, if they claim to have a physical presence, then you can always find that out by making some research. Also, if they claim to be registered, you can find out all the information about their registration from the body they are registered to. Thirdly, if they claim to have partnerships which is often the case, reach out to these partners and have them confirm such partnerships. If there are discrepancies in their claims, then it certainly is fake.

[Sebas.tian]

There are several tools involve in checking dubious cryptocurrency projects, though, many of these tools are paid tools to expose the projects as scam. For me, I do  more research into the projects to find some good profile team members photos and their social medias handles across board. Sometimes their websites creation through the help of WHO'S web analysis. There are good individuals who are good investigators, I so much respect them for that job.

[Helpme_please]

That's a very effective way to identifies the project is real or fake. Because the project's address is a very important factor and due to that you can check it on Google about the location's actual placement. So it would be a really good solution to identify the project's reality without putting extra effort. Now I should definitely gonna use this method before joining the bounty campaign.

so we need to check this phisyc address ,,how about if our location far away from address that mentioned in their site. i think its effective but will need more money, except investors from same location glad to do this. checking in google was not valid way, maybe dev team could pretend and also we could not communicate with them directly.

[0verseer]

Then I check their team.If there is no team in their website ,then I stau away from this project.And if  they give their team and linkedin account,then I check their team is real or not through linkedin.Then I check their social media ,telegram etc when they have opened.If new then I will recomend you to stay away from this project or IEO.

But what if the project is a dex or simply an exchange? Usually they do not show the team, or simply show who is CEO. What will you do in that case? Skip this project/bounty ? And social media, what if they dont have any or do not fill a lot of information in it? For example my grandpa or grandma dont have social accounts

Depend on how good a project actually is to make people overlook that detail about the anonymous dev team. I saw a few good projects that the dev team has enough confidence to keep their identity private, Of course, they could try to pull a random profile if they want but I think it will hurt them more in the end. So yeah, all the steps to check if a project fake or not can sometimes be overlooked too when that project is a good one.