Reasons why ICO turned scam.

[Digicoin 195]

There are ghost platforms  that can mimic legitimate exchanges.

There also fake platforms that invent users in order to make their business seem real.

A record of 7 billion dollars was raised in first half of 2018 through ICO and more than half were scam because of lack of regulations and enforcement security laws.

So, it is advisable to use trusted platform such as for initial coin offering (ICO) in order not to get scammed.

 

 

[SyntaxEr. 709]

The most common reason why ICO's turned scam because they didn't reach their target found. It is only logical to think that where they get the money they needed to develop the project if they didn't collect enough funds for it. 

[CryptoBoy20 170]

Yeah they made this platform so easy to bring new ico project they don't have any real company any real project that's why we are losing money in ico section. If they by chance full fill their target they never look back about the project because their main intention is money.

[doriahailee 643]

Yeahh, So many fraud ICO today and this why ICO market was really bad and so many project turned out to be scam or fail reaching their softcap, I think it's better using other methode like IEO to more safe than ICO, I hope ICO market will same like before on 2017-2018.

[nicolas1234789 2566]

ICO is just a program the important thing is who behind the ICO, are they new or already have good track record?. They can use any platform to collect fund but trusted developer is very hard to find. Just advice see their social media and how good they built communication with members, isn't good or bad?

[tranhungritc 191]

ico is a dark place for those who understand, but also a channel for crooks to take advantage of your trust, before investing or doing anything, you need to find out the official sources.

[Akbor 1042]

Mainly the icos started their jouney to make a good fund and to run the project but some times they cant so we get it as a scam ico but they refund all. and in ico the scammer can easily get profit from it so they do it.

[xprince1996 865]

On 11/28/2019 at 3:00 PM, Digicoin said:

So, it is advisable to use trusted platform such as for initial coin offering (ICO) in order not to get scammed.

With the current situation even big exchanges backing ICO is not guaranteed to be successful thats why i prefer IEO because the possibilities of the success is high because it is already open to the market. 

[scorpiali 5626]

We would like to some list of those platform Exchange who use those method to be aware about scam i have here about P2PB2B exchange but I don't know if real or not

If someone can gives more information

[dmnqe07 365]

ICO platform rightnow is full of scam projects, i think to avoid this kind of scam just make sure that project developers can clearly define what their goals are, successful ICOs have a straightforward, understandable whitepapers with clear concise goals. 

[iloveyobit 6599]

yes , many people get scammed in the last 2 years by those scam ICO's , i think this is a reason why bitcoin dump , personally i entred only one ico and the other are only airdrops and compains for me . 

[cryptosix 1643]

On 11/28/2019 at 12:30 PM, Digicoin said:

There are ghost platforms  that can mimic legitimate exchanges.

There also fake platforms that invent users in order to make their business seem real.

A record of 7 billion dollars was raised in first half of 2018 through ICO and more than half were scam because of lack of regulations and enforcement security laws.

So, it is advisable to use trusted platform such as for initial coin offering (ICO) in order not to get scammed.

Yopu may be right on some part, but ICO's are almost scams in the year 2018 as I have seen so many collected and their soft-cap, hardcap too reached, but after that they began to telling crap stories.

The whitepaper and roadmap are totally fraud to cheat investors.

Any ICO should rethink before starting not after or in middle.

[Rosepetals 407]

Most ICOs turned into scam because of fake developers.They seems like they are working the project overtime but if the project has done it turns out running away investors money or maybe the soft cap and hard cap  doesn't achieve and choose to run away than to face those angry investors and hunters. 

[tranhungritc 191]

The reason why ico turned into a fraud is also due to the inability to understand each person's teeth want a quick and big profit, which is impossible for a sustainable development.

[cryptosix 1643]

6 hours ago, Digicoin said:

You are right. I can not believe in any initial coin offering again. That is why, some exchanges changed it to IEO, so that can have rules before they tell their customer to invest so that they will not be scammed.

If you are going IEO also take a look of the top exchanges and decide where to invest. There are lot of IEO's in these days for getting more profit for them.

I hope soon the IEO too get stopped in offering coins because what happen if the price of an exchange coin falls down.

[Whydoyoucare 1094]

Way back ICOs are doing great until scammers take over them, so right now investors are doubting them. ICO turns out to be scammed when they did not get their target or goal. so right now the best option is invest in IEO instead of ICO. 

[guatazoo 7150]

On 12/7/2019 at 6:17 AM, Kesonie said:

People started to have a doubt in every ICO or IEO due to past experienced and FUD that has been reported last year and this year. If scam projects will not be stopped more and more trader will start to lose their hope in crypto.

There are trusted ICOs that are been created by trusted companies, in future this business will not be just for everyone but those trusted companies, that alreday have names.

Edited December 9, 2019 by guatazoo

[Fadzinator 285]

they became scam because of the greed.
I can say the some of the "turned-to-be-scam" project has a good promise at their early stage.
I think it is greed that drives them away from those promise.
Ofcourse there are also projects that it is meant to scam people even in the start.

[guatazoo 7150]

18 minutes ago, Kesonie said:

Indeed! But then last year I knew some company that has been associated with big names but then, they turned into a scam ico. Too bad for us

I think is time  crypto companies stop partnering anonymously, it is not just us who get scammed big companies get scammed to, and we trust those scammer though those trusted companies.

Edited December 9, 2019 by guatazoo

[cryptosix 1643]

5 hours ago, Digicoin said:

You are right. There are risks also in investing in IEO. There are some criteria to put into consideration before investing. 

Risk is totally for us, but investing in top exchanges IEO, that will definitely bring profit and breathe for us. I wonder how many IEO's will come in the next year of 2020. We have to see everything on time to time for investing in them.

I believe Yobit had only 17k coins for their IEO and the price is too high than a Bitcoin.

[Zentoly 419]

1 hour ago, cryptosix said:

Risk is totally for us, but investing in top exchanges IEO, that will definitely bring profit and breathe for us. I wonder how many IEO's will come in the next year of 2020. We have to see everything on time to time for investing in them.

I believe Yobit had only 17k coins for their IEO and the price is too high than a Bitcoin.

Right to say when the investors just investing on the top exchanges IEO then they will gain profit not loss, and top exchanges IEO have very less risk.

[guatazoo 7150]

On 12/9/2019 at 3:53 PM, Kesonie said:

I wish that those affliates needed to filter those companies who want to join them, scammers use big company names to gather more people and to make more people scammed.

That is why sometimes I think these regulations are important to secure ou crypto world, But still hate them.

[Ufra 197]

It is impossible at this time to know that a cryptoc currency website is scam or legit. It is very difficult to know about it. I want that a website will be available that verify airdrops like KYC and post verified airdrops it's on main page so the people will safe his money.

[Sohel Rana 406]

Many project not enough potential and not rising his ico fund that's not major reason. 

Maximum project launch for only earning money  not for for any future work.

After income huge number of amount  then they scamed.

I that's the major reasons.

[guatazoo 7150]

On 12/9/2019 at 9:48 PM, Bakomanka said:

The reason why ico bowed into a fraud is too directly to the helplessness to realize each one people teeth neediness a lively and full-size profit, which is ridiculous for a sustainable development.
 

Sometimes i think these ICO companies they over spend their money in promotions and end up with no money and a loss, so instead they decide to scam to get back their money.