How to know if the project is fake?

[lenovop-70]

Check the team member on the linkedin, check their whitepaper, plagiarism or not, that's the expert said before me, and i am agreed with that.
sometimes it works to identify if their project is a scam or not. and also, if the project is a scam, usually expert will write an accusation in this forum along with the evidence.

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[kopijos]

There are some tells,
For exmaple, the project page is the same old temeplate which everyone uses, this shows that they do not care.
Their linkedin accounts seem to be generated, look at their expereince, their pictures.
The idea of project.

But in the end even if everything seems legit, it does not mean that it is not a scam.

Nonsensical project ideas include giving the promise of a coin that will fly high in no time, and it is a promise that makes people credulous. but in reality it is just a crap from a fake project. we must be vigilant and careful with these tricks

[Ginger Beef]

There are some tells,
For exmaple, the project page is the same old temeplate which everyone uses, this shows that they do not care.
Their linkedin accounts seem to be generated, look at their expereince, their pictures.
The idea of project.

But in the end even if everything seems legit, it does not mean that it is not a scam.

Nonsensical project ideas include giving the promise of a coin that will fly high in no time, and it is a promise that makes people credulous. but in reality it is just a crap from a fake project. we must be vigilant and careful with these tricks

^This. 

We all get pop-up messages in Discord from people we don't know (or want to know) with scam "wallet update" notifications, or "do you have a minute to talk".  Both are precursors to being scammed. 

For me, the community matters most.  Real projects have a strong community, with a growing base of new members - that are involved in a project for a long time.  A strong community is evidence the core team / developers are also active.  If the project isn't active - the community will move on to something else.

[Fesatmas]

Check the team member on the linkedin, check their whitepaper, plagiarism or not, that's the expert said before me, and i am agreed with that.
sometimes it works to identify if their project is a scam or not. and also, if the project is a scam, usually expert will write an accusation in this forum along with the evidence.

Well we have to check all their backslides so that we know better whether the project is an indication of a scam or not, the team sometimes always uses other people's photos to be posted on their own website.
And it was clear that this was not serious about their project.

[akitha]

im checking first their website, team if they were displayed in their website, social media accounts as well.. but I did not know your method.. its a good point. will consider this one as well..thanks

[Galley]

Of course, there are many different ways to check projects for fraud. Checking the site, teams in social networks, addresses, and similar options. But all these methods are designed for amateurs-scammers. If anyone is serious about this when serious cash infusions are involved, none of these options will help. Everything will be done very competently. Withdrawal of money will, as it were, happen by itself, force majeure, you will not find fault.

[Alohadanc3]

There are lots of scams or fake projects are in the crypto market. So it's almost mandatory to ch ck them before any kind of investment. There are lots of factors which you can check. First check their website and find every small details. And then crosscheck them. Like team members and their identity. Check their roadmap and if they are delivering the project in proper time or not. Check their partners and confirm it from both side. And if you can go through their white paper. I think this things will help a bit.

[ameliana]

I have been experience joining bounties to those project that turns out to be fake or bogus so it helps me to learn in a way the I became more cautios in joining. I always do my research in the project that wanted to join and be part with and I am searching if the project has a high reviews from the pro crypto enthusiast.

Can you share ways to evaluate new projects? I also did a lot of research before I got into bounties, but to be honest they still became scams at the end of the road. It is impossible to find a really good project at the moment

In fact, it is almost impossible to know which one is fake or not. because almost most of the scamers have changed the project to make it look original and can attract the attention of investors. it's just that we can still avoid it by not promoting shady projects, like offering sweet promises, bad team reputation & developer managing previous projects, no experience etc.

[Serco]

I could identify a fake or scam project by checking their whitepaper to see if they have any plagiarism. A fake project doesn't have a good whitepaper or has one patch up with a lot of plagiarism so I can use it to gauge if they're legit or not.

and now this problem could be solved, we could use tools program do detect plagiarism whitepaper. more over there are alot ICO Police tharegularly check all document about project. if we see and join in update group we will easily avoid from scam project.

[popeye95]

So how do you indentify if the project is fake?

Plenty of ways to identify if the project is fake or not. Look for team record, their country origin, their vision for the coin, whitepaper, exchanges where they want to hold IEO, or how they willing to public the amount of fundraising for ICO,etc.

[cryptovigi]

...
Plenty of ways to identify if the project is fake or not. Look for team record, their country origin, their vision for the coin, whitepaper, exchanges where they want to hold IEO, or how they willing to public the amount of fundraising for ICO,etc.

As you wrote, there are many ways of checking that could tell us that the project is a scam. Unfortunately, there is probably no way to be sure that the project is not a scam. All we can do is minimize the danger, but you can never be 100% sure that the project is safe.

I agree with the opinion of several users here that the safest should be IEO from the largest trusted exchanges such as binance etc.
The problem with IEO backed by binance is that there are only a few projects a year there, and additionally, before you invest in IEO you need to first invest a few thousand dollars at BNB and then.... will you be able to take part in the lottery where the prize is the opportunity to invest in a new IEO.
What more the the probability of hitting the winning lottery ticket is generally only a few percent so to maximize your chances  you should have 10 lottery tickets (10 is MAX) and how much do you need to have 10 tickets? Only 500 BNB means.... $10k - $12k
So inwesting 10k in BNB to win a chance to invest a few hundred dollars in new project is definitely not for small players...

Other words  investing in "safe" projects could be very expensive.......

[Pom_bensin]

Fake projects are easy to find, they usually operate at a generous and unreasonable reward. and they are constantly looking for large scale investors in exchange for getting into the big exchanges. but keep in mind that it is a lie and it will not happen. so it is a bogus project we have to be wary of

[Aaroenz0r]

Fake projects are easy to find, they usually operate at a generous and unreasonable reward. and they are constantly looking for large scale investors in exchange for getting into the big exchanges. but keep in mind that it is a lie and it will not happen. so it is a bogus project we have to be wary of

Well, it's easy if they use obvious tricks! In most cases, scammers are much smarter than we can expect. They will now use any common tricks or obvious traps that we can realize at the first time! It's a very hard thing to avoid being scammed in this market which we have to always do! If it's easy then not a lot of people got scammed!

[havoc928]

...
Plenty of ways to identify if the project is fake or not. Look for team record, their country origin, their vision for the coin, whitepaper, exchanges where they want to hold IEO, or how they willing to public the amount of fundraising for ICO,etc.

As you wrote, there are many ways of checking that could tell us that the project is a scam. Unfortunately, there is probably no way to be sure that the project is not a scam. All we can do is minimize the danger, but you can never be 100% sure that the project is safe.

I agree with both of you! There are plenty of ways to check if a project is fake or accurate! However, we never can be so sure! There is no 100% guarantee. All we can do is just to do good researches, it only help us reduces the risks. Since there is no way to eliminate the risk in this market, besides proper knowledge, skills and experience, we need one more thing - luck!

[lienfaye]

I agree with both of you! There are plenty of ways to check if a project is fake or accurate! However, we never can be so sure! There is no 100% guarantee. All we can do is just to do good researches, it only help us reduces the risks. Since there is no way to eliminate the risk in this market, besides proper knowledge, skills and experience, we need one more thing - luck!

Indeed, luck has also a big part when we search for a good project to invest or join as a bounty hunter. Nowadays its not easy to find a good project because of scam and those scammers are also smart to not get caught and doing what they can do to make their project looks more real. Extensive reseach is really a must and aside from checking their location, the team transparency is necessary to check if they are real people and not a picture of someone in google.

[infocoino]

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 would check as usual every detail they mention and compare it all, sometimes you can find conflicts between website and whitepaper or find some data that is easy to be approved but they don't approve it

it is all a sign of 2 bad things:
1st the team is not connected or they are using freelancers and this is creating some conflicts in content and make the project unstable
2nd they are scam and just filling data randomly

[cryptovigi]

...
 Extensive reseach is really a must and aside from checking their location, the team transparency is necessary to check if they are real people and not a picture of someone in google.

which is not an easy task if you are from another country or even from the other side of the world ...

Unfortunately, if you do not know the team personally or at least one of your trusted friends knows them (of course I mean "real" friend and not person who you know only via the network) there will be no certainty.
If a scammer plans to rob hundreds (or thousands) of people, he is able to devote raelly a lot of time and resources to make his scam look as credible as possible, what is investing a few thousand dollars in preparing a great-looking project if there is a chance for many times greater profit ...

[ttcsalam]

You are right.There are several ways to identify a fake project.However, I think. In a fake project, the team always uses fake locations and the team's name and address are all fake.Besides, the volume of their investment in the exchange is also fake.Most of their social media information is very enticing.

[ubay]

Very good question, and to find out which project is a fake just do the following simple things.

1. See all the teams behind the project, starting from their background, their social media / GitHub accounts.
2. Check the project domain again in whois, see how long the domain has been alive, if it's still very new, I hope you don't follow that project.
3. Be careful with high ratings but developer activity is stuck because it indicates a fake rating.

[Fesatmas]

Very good question, and to find out which project is a fake just do the following simple things.

1. See all the teams behind the project, starting from their background, their social media / GitHub accounts.
2. Check the project domain again in whois, see how long the domain has been alive, if it's still very new, I hope you don't follow that project.
3. Be careful with high ratings but developer activity is stuck because it indicates a fake rating.

Everything you mention is very precise where we have to thoroughly examine if we want to invest in a new project, and we have to really be sure of your instincts so that you don't regret doing it, but to avoid the risk it's better to stay away from a new project.