I am not much worried about my loss but I want to prevent others from being scammed.
So please share your experience on how to identify a scam project at or before ICO.
Correct me but identifying whether a project is a SCAM even before its ICO stage is impossible to do.
Just think of it. If we know that there is a method to identify scam, do you think that SCAM projects still exists until now?
SCAM projects are always there and will always be there. New projects are the ones who are mostly the scam projects. This is also the reason why I'm not investing into new projects. Not because I'm afraid to get scammed but because I don't want myself to get scammed.
There are some projects in the past that seems to be legit. Whitepaper looks good and the team is great and they are responding with every question. Things are looking good but after a few weeks, they are getting the money and run with it. Right now, there is no proven method to identify which new projects are scam and which are not and I doubt if there will be ever a method to prove it.