How to know if the project is fake?

[republicrypto]

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?

first you must learn about the team member from the project, check their social media link, sometimes they use fake account and fake pict my friend
then check the whitepaper carefully, because a lot of fake project copying a whitepaper from the other project
regards

[shollyen]

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.

Yes, you are right. Some of the investigators exist here on the forum. Although, there are some we do not know their thereabout again. However, I know that many of them are doing a great job indeed because it is not always an easy thing. Before you do the finding from pillar to post, you would have to spend a great deal of time and some efforts would have also be inputted.

[Eddyc]

An interesting point that we can define if a project is fake or not is a lack of commitment to the community and the project itself. There are steps and protocols that must be followed and when that doesn't happen it's something to pay attention to. I'm saying it in practical terms because in theory the whitepaper already contains a lot of information that can show signs of falsehood.

[Twinkledoe]

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.

Yes, you are right. Some of the investigators exist here on the forum. Although, there are some we do not know their thereabout again. However, I know that many of them are doing a great job indeed because it is not always an easy thing. Before you do the finding from pillar to post, you would have to spend a great deal of time and some efforts would have also be inputted.

This is the reason why checking the scam allegations board will help you if a particular project has existing issues. Because if you have no time to dig the project, there are other users here in the forum that are dedicated to bust these projects -- checking their profiles, plagiarized whitepaper, and many more. But if you are an old timer, at first glance, you will have the gut if the project is fake or not.

[pikkie]

An interesting point that we can define if a project is fake or not is a lack of commitment to the community and the project itself. There are steps and protocols that must be followed and when that doesn't happen it's something to pay attention to. I'm saying it in practical terms because in theory the whitepaper already contains a lot of information that can show signs of falsehood.

indeed a project will provide information about the project you want to develop through the existing whitepaper but you should know that usually the project implemented is far from the initial concept that is not in accordance with the initial plan, so you must remain careful when reading the whitepaper.

[Pasutinmeur]

An interesting point that we can define if a project is fake or not is a lack of commitment to the community and the project itself. There are steps and protocols that must be followed and when that doesn't happen it's something to pay attention to. I'm saying it in practical terms because in theory the whitepaper already contains a lot of information that can show signs of falsehood.

indeed a project will provide information about the project you want to develop through the existing whitepaper but you should know that usually the project implemented is far from the initial concept that is not in accordance with the initial plan, so you must remain careful when reading the whitepaper.

Some trusted projects have even changed their roadmap and it can't be a strong point to be used to determine the fake project. it's better to focus into the team whether it's a fake team or not and the concept that has already taken. Both will bring very good information about that.

[Rengga Jati]

So how do you indentify if the project is fake?

Actually there are many ways to identify if a project is fake or real. The point is trying to get clear information about everything related to the project and how the project has been running lately. Here are what we can analyze from the project to know "fake or real":
1. Check the legality and identity of the project. Make sure that the project comes from real country and the project is legal in the country. Don't join the project if we don't know where the project comes from.
2. Ensure all the identities of the team members are real ones. Get the information about their identities by googling and cross-check whether it is true or not.
3. Analyze all the pictures of the team members if they are matched wit the identities or not. Many cases that a project provided faked pictures/photos of the team members. So, we must ensure them by googling and make sure that they are real photos/pictures. Also, we analyze that the photos/pictures have good quality and clear enough. If there is something wrong with the pictures/photos, we must suspect them.
4. Learn the whitepaper and ensure what they stated in the whitepaper is logic or reasonable. Also, check the contents in the whitepaper and make sure there are no plagiarism contents.

Here is also another article that telling you how to know real project: https://www.investopedia.com/tech/how-identify-cryptocurrency-and-ico-scams/

*I suggest you consider IEOs than joining ICOs. It is hard to trust in ICOs anymore.

[flagpara]

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?

One form can't stop all scammer processes. This process is also good to justify new projects. Some scam people aren't foolish. Think this way, suppose you can choose any real location from your country or to help any scam users. Actually I never did that to justify the location, the next time I will do it. Still some projects couldn't manage any location in their country, for legality problem.

[pilosopotasyo]

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?

There are a lot of parameters, and this is just one of it, but are caught copying other people's works and faking their team, because they cannot really come out with real projects and platform, a legit project has usage for their platform and they are going to stake everything to generate trust on their projects.

[Buttercup123]

So how do you indentify if the project is fake?

To identify if project is fake i usually look at their project team member profiles if it's fake, and also the project's social media if they don't have provided much useful information.

[ufaiz50]

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?

For me the most important thing is that they are transparent in terms of information and we must first research who developed the project. It's good enough to search for project addresses, but there are some projects that make the addresses of other offices as their addresses. try not to choose anonymous projects/they hide their information, and be sure to look at their official website, because usually fake projects don't pay much attention to their web functions.

[raidarksword]

In my opinion team project verification would be given a priority by investors and bounty hunters before engaging such projects. Verification can be found out on crypto review rating sites wherein they verify each team members legitimacy as much as possible. As a bounty hunter, i only joined bounty projects promoted by trusted bounty managers where as they have reputation on verifying the legitimacy of the project and the transparency of it. By that process, best chances that the project's development is in good process underway.

[jademaxsuy]

Most project is fake. So there is not better project here unless it is being managed by a good bounty manager/users with good reputation in handling projects. There are few here in the forum but expect that it will be easily get filled after announcement of launching the project. However there are times that even them will get scam. They have no control over the project and how it will be implemented. So if  were you just directly invest in btc or edtablish altcoins like ether. There are more of them see the coinmarketcap.com site for better reference.

[michellee]

It is difficult to identify a fake project. I think we will not know if that project will have the potential to be a fake project or not, even if we are trying to analyze or search for more info about the project. I realize that the project can be a fake project anytime the team wants, and we will only see that the team leaves the project without coming back in the future. You don't have to join the project as the investor if you doubt that it can achieve success in the future.

[Little Mouse]

Checking team members, license, whitepaper are a good way of finding out the legitimacy of a project. Fake projects usually use fake team member, plagiarized whitepaper, fake license etc on their website. It is easy to detect a fake project by looking at the project detail because all the scam project steal the idea of other people too.

[Dpat]

For the evaluation of the fake project always first look at their website URL. If the the URL is unsafe without https:// protocol then immediate you know that this project is fake. Again, if you see everything is fine, then read there whitepaper carefully search the background of the team member and count the sufficient pages of the WP to elaborate their project deeply or not. Then take decision.

[tippytoes]

Checking team members, license, whitepaper are a good way of finding out the legitimacy of a project. Fake projects usually use fake team member, plagiarized whitepaper, fake license etc on their website. It is easy to detect a fake project by looking at the project detail because all the scam project steal the idea of other people too.

That's the first thing to look at in a project. Once you found out that they are using fake profiles, that's already saying that the project is not to be trusted. And they can handle shady business if they have fake profiles. So I guess, never trust your money in a project having fake team members.

[bgaf]

What do you prefer OP? Someone with anonymous team but has potential project or a fake team using high caliber social profile? I think determining fake projects are easy but knowing if a good potential project is legit or not because they have an anonymous team.

Project services and even products are more important to see and experience by the community. There are fake projects that turns out legit in the future. Sometime we just accused in the wrong way.

[Nellayar]

Checking team members, license, whitepaper are a good way of finding out the legitimacy of a project. Fake projects usually use fake team member, plagiarized whitepaper, fake license etc on their website. It is easy to detect a fake project by looking at the project detail because all the scam project steal the idea of other people too.

It is easy to say that looking the license and checking out the background of the team can detect the fake projects, but many of us still scammed because there are also scammers who are really good in hiding. Sometimes, we can tell that it is a good project because it has an original whitepaper but the team was hide. It is because there is no real usecase their token has.

You have a good point but we all know that everytime there is a way to find a scammer, they have also upgrade their way to scam people.

[ttcsalam]

A nice idea. You are right that many investors are losing their capital due to fake projects.And their desire to invest is disappearing.I think the fake project has a board or a threat.There is only a Scam project list.It can also be extracted by Surch with the BTT ID of the member's name.