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Scam ICO

Unfortunately, we need to have a special category for projects that have disappointed cryptoworld and turned out simply to be a scam. These are the projects that need to be avoided and which destroy the good name of very interesting crowdfunding method that Initial Coin Offering is. But don't worry, not every ICO is a scam. However, stay away from the projects listed below.

 

Accusations


We don't mark every ICO that user begin to dislike a "scam" immediately. Before a project is put on this list, we carefully research it and check if the accusations are true. It often happens, that the media has already covered the story or that the police has been informed. In the review section, you can often find real accusations and proofs of scam attempts. There are also direct comments from users that have unfortunately lost their money.

How to spot a scam


Most of new ICO projects are first announced at the bitcointalk forum. Most of them are just spam. They post only to post. There is no real people behind such project, no whitepaper or businessplan. Some literally just beg for money from strangers, while others hide behind allegedly real project, raise the funds then disappear or say that they have to end the project for whatever reason. We have written an article on how to spot a scam, you can find it in the "blog" section, in the "tutorial" category.

 

Developers


It's good to look through Scam ICOs on this list and focus especially on the team behind them. We always try to provide you with all the details, unfortunately often the people in the team section often turn out to be just fake names and random photos of people taken from Google. However, it's good to check out if maybe the people behind a project that you want to invest in aren't the same as the ones behind these Scam ICOs.