Scam Projects: How to Detect?

[anshor1]

There are a lot of ways to determine whether a project is real or scam while looking at their Twitter handle and their followers the second way if by looking up their roadmap and the their way with their ido. Ico they are running a famous and trusted platform or not

Yeah, But it's not easy.
There are several scan projects that have many followers and always update their news , but remains scam.
So becareful.

[Hisbullah]

There are a lot of ways to determine whether a project is real or scam while looking at their Twitter handle and their followers the second way if by looking up their roadmap and the their way with their ido. Ico they are running a famous and trusted platform or not

Yeah, But it's not easy.
There are several scan projects that have many followers and always update their news , but remains scam.
So becareful.

You're right , not easy to detect scam projects.
Learn the White paper, It's copas or now.
See the roadmap and man behind the project 
I think It's just way to detect scam projects.

[therozaq]

You're right , not easy to detect scam projects.
Learn the White paper, It's copas or now.
See the roadmap and man behind the project 
I think It's just way to detect scam projects.

For now, there are several alternate smart contract platform, and also many scam projects.
Too easy to create tokens and new projects, I  think we must be careful.
it seems difficult to detect scam projects, because be scammers  always update the way or trick to scam other.
If  we have good analysis and experience, I think We can detect scam project early, bit not easy.

[mlawson71]

Scam projects in the crypto industry happen often, unfortunately. Personally, I don't trust any project until I see it become very popular over a significant period of time, and even then I am wary, frankly.

[Freemind]

Scam projects in the crypto industry happen often, unfortunately. Personally, I don't trust any project until I see it become very popular over a significant period of time, and even then I am wary, frankly.

I totally get what you're saying, and I used to act the same way a long time ago, until I realized something. The time that passes from when we see a project in its beginnings, until it is popular and known by many people, is the time in which the value of the coin/token rises a lot and it costs us more money to invest. If I think that this particular project (after verifying that it is not a scam) may be the right one to invest in as soon as possible, I will do it, as we already know, I think we should always accept some risks.

[Jaephoenix]

It's crypto. Even the most obvious legit project can go rogue on you, any moment from now. Always keep a beady eye on their social media. Some of them that are soft rugging can be detected there

[kent47400]

My experience in the cryptocurrency space is also not able to distinguish projects that will be successful or not because in reality when the IDO project was successful at the beginning by raising a lot of funds but eventually rugpull too or can be said a scam, and this I saw with my own eyes on the moon January 2022.
Maybe there are other members in this forum who are experts in distinguishing projects that will become scams and rugpulls because honestly I can't tell the difference between projects that will end up being scams and this is my limitation in the cryptocurrency space.

[innerpumper]

There's no surefire way to detect if a project is really a scam or if they're about to get serious.
All we do is in-depth analysis such as looking for their team, complete information, roadmaps and documents such as whitepapers.
The important thing that I usually do is see updates on their social media, whether they are actually running a project or just a public sale.

[gunhell16]

To be honest, nowadays, detecting a scam project in this industry was to difficult to find. And I think this one will always be a part of this business where money is also a part of it. But sometimes in the whitepaper, there are a lot of the scammers are doing this way where they copied the WP and revised it. And the other things they are doing is that I am not pretty sure aside from copying other's WP.

[Freemind]

To be honest, nowadays, detecting a scam project in this industry was to difficult to find. And I think this one will always be a part of this business where money is also a part of it. But sometimes in the whitepaper, there are a lot of the scammers are doing this way where they copied the WP and revised it. And the other things they are doing is that I am not pretty sure aside from copying other's WP.

Finding matches or complete copies of a white paper is not difficult, there are many tools available that detect plagiarism in seconds. It is also important (I think I never said it) to know when the different social media profiles were created and when the project's web domain was registered, it may seem silly, but it is important data. We know that we will never be 100% sure, but we can see red flags if we investigate enough.

[legend45]

Not easy to detect scam project, there are many copies of White paper.
They will create beautiful roadmap to scam investors.
I think scammers always bhave the way to scam people.
Better to learn white paper, roadmap, always follow the  update news from their team.
Be careful to choose project that you will invest.

[Jaephoenix]

About your third reason, I think some scam accusations are unreasonable or at least unfounded. I always listen to both sides of the argument before a decision

[Freemind]

About your third reason, I think some scam accusations are unreasonable or at least unfounded. I always listen to both sides of the argument before a decision

Of course, in such cases it is necessary to listen to all parties involved. I have seen projects that unfortunately have been targeted by angry investors for the simple fact of not getting rich in a few days. When there is FUD on a project but development continues, it can be due to things like the ones I've mentioned, and it is that many people do not have the necessary patience, and they should not be called investors or bounty hunters, they should be called Minions. In crypto we will never achieve anything without patience.

[Vx1]

It's actually difficult to detect which scam projects are currently, because now scammers are good at doing these scams. 
Personally, I prefer the Bounty project which is managed by a professional manager rather than a manager who is still not very popular.

[Bobcrypto]

Yes, it actually difficult to identify scam projects however, for the benefits of the doubt, one of the best ways to know if a project is scam or no, is through the identify of the project TEAM.
The best protection against this fraudulent tactic is to thoroughly research the individual team members of a project before you invest. It's a bad sign, for example, if you're unable to find any information about a particular developer or founder on LinkedIn or other social media outlets. Even if profiles do exist, check to see if their activity seems to match up with the number of followers and likes they accrue. Individuals who rarely engage with their followers and yet have thousands of fans may not be real.