Post
Topic
Board Speculation (Altcoins)
Re: avoiding ICO scam and frauds
by
Agozyen
on 02/06/2018, 14:10:12 UTC
We all are well aware of ICO frauds.

I use the strategy to start with a whitepaper, see team member details and the roadmap.

What strategy you adopt to make sure the ICO is not a scam/fraud?

Whitepaper is okay, check it for spelling and grammar errors. 

Roadmap is almost useless if they are a scam.  They can say anything they want and make it look good.  Basically it's a list of promises.

Team member details though is where you can get the most bang for your buck.  No last names?  SCAM.  No social media profiles?  SCAM.  Not on LinkedIn?  SCAM.

There are exceptions to this though, there are a few Crypto personalities that are known by there crypto-names, like JL777.  He has been around for a while now and is a major developer of the Komodo Platform and before that Bitcoin Dark.  If you can find information about the team members on social media and interact with them before investing then the chance of a scam goes down.  Make sure if you do find them on Facebook or whatever that they have been around for a long time.  If you find team members that all have their social media profiles made the week before the ICO was announced it is a scam.