How can one detect a scam ICO?

[jangan]

It is to no doubt to say that there are lots of scam ICOs this days, some of them with good whitepapers, looking promising and convincing to investors. How can one actually spot the difference?

[pationex]

Whitepapers sometimes look deceptive, like legit even though a scam. How to know that the project is good is to see that the project has cooperation with certain parties who already have big names. Such cooperation can be a guarantee that the project is serious about running the project.

[gotbounty]

We have to be smart in knowing the ICO Project is scam and not. Before we invest in one of the projects. We should first examine the project well. Starting from websites, white books, project teams, teamwork, target markets, legal basis and others. From there you will find out which is a good project and which is a scam.

[wokee12]

No team or fake team behind the project, they always guarante the money back also they not have real product

[gotbounty]

"How to Detect Fake ICOs are:
1. Whitepaper:
The best way to find a fake whitepaper is to ask someone with technical knowledge to assess it: does the technology description make sense? Does that sound like written by someone who really understands what they are doing?
2. Website:
Look for WHOIS information for the domain and check to see if the domain registrar and other contact information makes sense. American blockchain project with Chinese domain registration and Chinese contact info? That's a red flag.
3. Team:
The easiest way to check again is that team members are legit just to search for their names on LinkedIn and Google. Is this blockchain project listed on their LinkedIn? Is it mentioned on any social media account that you find in the search results? You have to do the same for each advisor who is on the project list - it is very possible that they will only attract the names of people who seem impressive who they did not contact."

[Zed0X]

It is to no doubt to say that there are lots of scam ICOs this days, some of them with good whitepapers, looking promising and convincing to investors. How can one actually spot the difference?

It is true that even scam ICOs now have good looking websites, well written whitepapers and promising concepts. It helps if you can verify the identities of founders and the team like on Linked.

NOTE: Scam ICOs are different from failed ICOs.

[Isiaq]

It is to no doubt to say that there are lots of scam ICOs this days, some of them with good whitepapers, looking promising and convincing to investors. How can one actually spot the difference?

It is true that even scam ICOs now have good looking websites, well written whitepapers and promising concepts. It helps if you can verify the identities of founders and the team like on Linked.

NOTE: Scam ICOs are different from failed ICOs.

You are right,  majority of those scam ico have a well designed plan to scam investors,  it's best to verify LinkedIn profile,  watch out for those ico that promise what they cannot offer

[88percent]

There are many ways we can do to detect a scam ico. We can see it when filling out the form. Usually this scam ico will ask you to fill in the pirvate key. Though we should keep this private key so that it is not known by others.

[UNIVERSE]

Detect whether ico legit or this scam is rather difficult. But one of the things that I often do is usually projects that are scam suspicious. You will be asked to fill in the private data on their website.

[bitcat]

At first you must look at team. They must have a good experiense in blockchain technology and business before. If they went from other business - this could not get succes in 99%

[UNIVERSE]

One way to detect that ico is a scam is that they usually need to send some eth to their address. The goal is to get tokens. This doesn't make sense because our goal of joining ico is to get tokens.

[I-Bit]

1. A scam ICO usually provides a lack of information, especially about the team members. They share a lack information about their identities and about their social media.
2. A project offers unreasonable rewards for investors or bounty hunters. If a project offers very high rewards with a little effort, it is not reasonable.

Just ignore a project with with such characteristics. Believe me, it is very risky for you to join.

[Quart]

We have to be smart in knowing the ICO Project is scam and not. Before we invest in one of the projects. We should first examine the project well. Starting from websites, white books, project teams, teamwork, target markets, legal basis and others. From there you will find out which is a good project and which is a scam.

"How to Detect Fake ICOs are:
1. Whitepaper:
The best way to find a fake whitepaper is to ask someone with technical knowledge to assess it: does the technology description make sense? Does that sound like written by someone who really understands what they are doing?
2. Website:
Look for WHOIS information for the domain and check to see if the domain registrar and other contact information makes sense. American blockchain project with Chinese domain registration and Chinese contact info? That's a red flag.
3. Team:
The easiest way to check again is that team members are legit just to search for their names on LinkedIn and Google. Is this blockchain project listed on their LinkedIn? Is it mentioned on any social media account that you find in the search results? You have to do the same for each advisor who is on the project list - it is very possible that they will only attract the names of people who seem impressive who they did not contact."

Your analysis seems good, I agree with you. But just make the two comments in one reply only. I also have the same opinion focusing to study the whitepaper, team info, and the website in order to determine a scam ICO. I think those are the main points of a project.   

[Iconic]

Usually the ICO with the Scam has signs. First, you pay attention and observe the situation of the team in the ICO project, check how the Team works, how the team targets. On the other hand you also have to estimate how many investors have entered and trusted it, usually projects that are scam, the investors are still few or none at all. Maybe this explanation can help you.

[Asebaby]

Know a scam ICO is very easy ,the advisors of an ICO will revile if the ICO is scam or not,they should a profile showing that they professional in the area of work such profile carry old activities in their various place of work or company.