Pls what are the best way to detect fake ico and fake project... We can't continue working to promote them and later discovered that it is bounch of fake... We really need tools to detect fake ico
Scammers are a cancer tumor for a crypto community. Because of them, many investors refuse to make investments. To avoid scammers as much as possible, you should carefully analyze the ICO. Check the team, whitepapper.Many ICO indicate that they are approved by the SEC.To check the truthfulness of the information you can go to the official website of the SEC and check this information yourself.Here is the website:
https://www.sec.gov/edgar/searchedgar/companysearch.html.Also (if you are a bounty participant) pay attention to the bounty pool.If it's too big, it should arouse suspicion.Also, if the team very often rewrites white paper and often complements and changes it-this is an alarming call.Also, if the ICO site allegedly have huge fees, it is likely that they have a large number of visits.In order to check the statistics of the site I use this service
https://www.similarweb.com/.Services on the Internet a lot and I recommend not to neglect them.
Very good advice, sometimes some scam ICOs websites will use fake traffic to make them look like a huge amount of traffic. They can use various methods to deceive us. The only thing we can do is to investigate it carefully everything behind.