ICO scams vs DeFi scams

[darkphoenix2610]

There are ICO projects that turned into scams but not all. ICO's with a great team, good vision, and followed their road map succeeded indeed. The same thing goes with DEFI projects. It's just that DEFI project needs to pay high gas fees in order to make transactions but we can't claim that all ICO and DEFI are all scams..

[1714763394]

1714763394

[1714763394]

1714763394

[Festac]

After scammers ruin ICO in 2018 and onecoin and bitconnet became the biggest ICO fraud cases I thought things will atleast adjust for the better, things looked more promising when IEO took over and became more popular thanks to binance and other top exchanges performance but 2020 is very different, DeFi became a thing and once again scammers have the freedom to operate, something very identical to ICO freedom. All in the name of Decentralized and DEX, Uniswap for example, scammers are now roaming free...

1. They find uniswap as better haven to sell clone tokens
2. Even hacks are happening around DeFi projects almost every month now.

why is DeFi platforms more easier to hack? Or are developers the real culprits hacking their platforms themselves? DeFi failure will forever be a stain in crypto history

Why do we have many DeFi projects in a single year that DeFi starts becoming popular? Aren't you curious about that? All new projects want to be DeFi today, I feel like they are rushed projects that's why they are easily hacked, this is my own believe,

Why aren't old DeFi projects hacked? This is why I trust old DeFi projects the most because they aren't rushed, they are around since 2018 before DeFi hype starts this year

[zulfi125]

Most of the project coming nowadays on DeFi are scams and making money from investors; I have seen a project that was made from pre-sale $300k+ and after launched at Uniswap price goes down and all the investor's funds lost, Scammer always trying to collect funds from investors after 2018 IEO was a good idea to protect the investors but now DeFi projects again collecting funds and scamming with investors.

[Inkdatar]

Most of the project coming nowadays on DeFi are scams and making money from investors; I have seen a project that was made from pre-sale $300k+ and after launched at Uniswap price goes down and all the investor's funds lost, Scammer always trying to collect funds from investors after 2018 IEO was a good idea to protect the investors but now DeFi projects again collecting funds and scamming with investors.

Well, many projects turns out scam. Especially in social media they always make a ways to attract investors that their project is one of the best. I have observed this kind of scam, at first collecting funds from investors, listed the project in uniswap then suddenly deleted their liquidity pool. Anyway, either Ico, or Defi projects many are scam. So, we firmly to be keen on observing which project is best these days since a lot of scams.

[ije07]

platform hacking can occur both by insiders and so-called Hackers and will certainly never be revealed to the public. So there is a possibility between intentionally or not but they actually did it. Regarding DEFI I think you need to be careful, I'm afraid you get caught up in the hype defi and don't have time to sell while the coins are pumping.

[tarable]

Various ways to deceive every investor you are despite the new rules. If they have a chance that means there has to be a stricter way to deal with it.

And one way to avoid being deceived is not to easily believe other people's words and new rules, because every rule that is made will always have one-sided advantage, so don't be overly confident if we don't want to be deceived by other people.

[TopT3ns]

Most of the project coming nowadays on DeFi are scams and making money from investors; I have seen a project that was made from pre-sale $300k+ and after launched at Uniswap price goes down and all the investor's funds lost, Scammer always trying to collect funds from investors after 2018 IEO was a good idea to protect the investors but now DeFi projects again collecting funds and scamming with investors.

Various ways to deceive every investor you are despite the new rules. If they have a chance that means there has to be a stricter way to deal with it.

indeed there are many ways to scam even though we as traders have tried our best to try to stay safe and not be affected by any offers, only that way we can avoid a scam project. although no one can provide a guarantee of security but at least we can avoid it.

[OasisDre]

What makes you think that those who are behind ICO scam projects are different from this DeFi scam projects? I believe that those behind ICO scam are behind IEO scam too, Scammers are greedy people too once they make big money in a ill gotten way they will never leave, they will always come back to take advantage of those who are new to crypto and haven't had any experience about scam projects

[darewaller]

As long as there are gaps and opportunities for fraudsters of any kind, there will definitely be a lot of fraud,
and there will definitely be new people, they are old bankers whose job is only to cheat and take advantage
of the weaknesses of the existing system. , we are left alone to be careful in every action or even in every infestation

That's the problem with decentralization sometimes because we don't know who is behind the project and we have no way to question them or even ask what they did with the investor funds. That said, investors have gotten more and more smart with time and are not as easy to fool as they might be a few years ago.

DeFI or ICO everything has it's own benefits and problems because there will be scammers in each market but also bright prospects in either field too. I personally look at the team behind the project like Polkadot had Gavin Wood behind the project which gave me confidence and they are looking good now, some even call them ETH killer.

[btc-facebook]

Since the existence of DeFi all feels different because the project that runs in accordance with the wishes of all of us and is very different from the ICO and IEO projects but currently there are new problems in the DeFi project that always occur hacking every existing project whether this is all the result of the thin security applied by the project, until now some parties still suspect there are parties who want to destroy DeFi.

You are right, the DeFi project is better than an ICO, because the DeFi project will go ahead as planned, and many DeFi projects have emerged because they already have a real product, very different from an ICO that appears with a concept alone.
Hacker attacks can be anticipated by developers, because the DeFi project has been attacked by hackers very often, and developers should learn from that incident.

[BTCappu]

Well, the difference between ICO world (and whatever followed afterwards) and Defi is the simple fact that most of the time DeFi projects do not have owners, they have developers and we decide if we want to allow them to make a change, whereas ICO world had owners, people like Justin Sun and so forth was created because they published a new coin and had a ton of it and they had the control over it.

This made defi a lot more hackable because it is just a code and nobody is there to stop it, if the code is not good enough it will be hacked, but made ico ones like tron more secure because if there was someone trying to hack it, owners will try to stop it. Yet this created a gap of centralized (heavily) coins like tron versus defi projects and you take the risk with the reward I suppose.

[Eco_111]

Why VS? There were ICO projects that delivered as promised and they are still very alive today, some exit scam but isn't that what's happening around DeFi projects too? Some did very well and many are scam, there is no need putting them head to head, scam is scam and the latest scammers favourite is DeFi because it's DeFi season, not ICOs anymore

[arabianhorse]

No concept is bad, be it ICO or Defi. When a concept is successful, many scam projects see them, copy it and cheat investors. Defi concept is a good concept at present. If it can be used properly then something good will happen.

[Novatech8]

There is no difference between scam ICO and scam DeFi projects, probably still the same old scammers at work here, very possible, the work of scammers is to find something new that has enough FOMO and hype and use that to their own advantages, I knew that DeFi will see lots of scam once it started becoming successful few months ago, if another new hype begins tomorrow expect scammers to invade it

[South Park]

It cannot even be counted with the number of several ICO / Defi scam projects, even to distinguish between them is very difficult for an ordinary person who doesn't know how to invest properly, so cases like this often occur, and the mode is almost the same as ICO / Defi fraud, as long as the system does not repaired, the group of con artists will be free to continue making scams on behalf of ICO / DeFi, because they are very easy to trick their prey, let alone ordinary people, experienced people will certainly experience the same thing, because the Scam project is very clever at hiding its badness ...

Maybe this is because everyone can create an ERC20 token and describe the token as DeFi or do an ICO. DeFi has been on the hype for a while now and I think anything that's hype needs high alertness and needs more research. I prefer to invest in coins or tokens that are listed on large exchangers because the liquidity factor is maintained

At this point I do not think it matters anymore, some of the first icos like ethereum were good and gave great profits and people instead of thinking that the reason the price of ethereum went up was because it was a good project they decided that it was because it was an ico and they began to invest in all kind of icos and scammers took advantage of it, and the same happened to DeFi projects, so now it is too late to invest in those projects as the majority of them will not be created by developers with a vision but by developers just trying to make some money and scammers willing to say anything just to rob your coins.

[marilynmanson21]

Since the existence of DeFi all feels different because the project that runs in accordance with the wishes of all of us and is very different from the ICO and IEO projects but currently there are new problems in the DeFi project that always occur hacking every existing project whether this is all the result of the thin security applied by the project, until now some parties still suspect there are parties who want to destroy DeFi.

How to destroy DeFi? DeFi cannot be destroyed or eliminated because DeFi is the core of cryptocurrency, I don't mean the HYPE project of the last few months, but about the core of decentralization that cryptocurrency has had for a long time, because DeFi has actually been around since bitcoin was created, that's why DeFi can't be destroyed .

[JeffBrad12]

That's definitely the case because scammers have been starting to take advantage of the phases of ICO, IEO, and now Defi, they always somehow have managed to scammed people by using such events bubble where people had to get easily caught up.

They are seeing the same opportunity from defi. There are so many scam defi right now even some trusted defi on BSC have become scam projects. IDK why bitcoin can be fooled by the scam project.
this time people are being even smarter than before and less scam defi appeared in the market.
We must always DYOR. Never try to deal with the suspicious defi.

[goddess116]

There is no difference between scam ICO and scam DeFi projects, probably still the same old scammers at work here, very possible, the work of scammers is to find something new that has enough FOMO and hype and use that to their own advantages, I knew that DeFi will see lots of scam once it started becoming successful few months ago, if another new hype begins tomorrow expect scammers to invade it

Totally agree, ICO scams and DeFi scams are almost the same, they are just take advantages of the greed of human nature, besides, i think   IEOs are not less scammer,  maybe it is still these people, but IEO was started by the exchange, when we invest in we just need to buy big exchanges' IEO, it is easy to distinguish. 

[bandungan]

There is no difference between scam ICO and scam DeFi projects, probably still the same old scammers at work here, very possible, the work of scammers is to find something new that has enough FOMO and hype and use that to their own advantages, I knew that DeFi will see lots of scam once it started becoming successful few months ago, if another new hype begins tomorrow expect scammers to invade it

looks like an old scammer who created a scam definition. This is a classic thing where the scam system is the same as ICO where there is a scam after the public sale and there is also no update on social media groups or from the team. So this is an old problem that is repeating itself

[BDBitcoinExpart]

Defi is not a complete scam like ico. The concept of defi project is very good but many defi name scam project market is coming. Example, sushi project. ico and ieo run at $10 but there is no price in the market at $2. In fact, defi projects trade on a hype. So it is not right to hold defi project for long time.