Reasons why ICO turned scam.

[Calvinpriva 17296]

There are many people who are using ICOs in different sites. Scammers have take this as an advantage for them to steal money by creating fake ICOs. We should invest in ICOs to exchanges that we are using daily so that we can be sure with the safety of our funds.

[magd 5231]

Not all ICO projects are fraud, but the large percentage of them have become fake currencies that require deposits to steal traders' money. For this reason, there is only one effective solution is not to buy any new currency until we are sure of its success and stability in the market and on the world famous platforms

[Brand1 1336]

Their first steps were to make their platform easy to use to bring people to their project and frankly, the collection of their projects was a fraudulent currency and we began to lose our money gradually within these projects where their only goal was to get the money so we always have to be careful and cautious

[BountyAirdrop 33]

The ICO mania of the year 2017 will not be forgotten in hurry. Over 50% of them ends up to be a scam. I have shifted focus from investing in ICO to trading and KoinPro has been my best platform. I pay the lowest fee, their smart trade panel protect my digital assets from a sudden crash and I can trade anonymously. 

[nykas 2812]

I think that ICO became scam because it was easy to arrange such event, most fake projects just created web-site and it was enough to start money collecting process and most people trust such sites, because they want to earn money 

[john1010 80]

The one reason why many ICO turned to scam was they didn't  perform well and they didn't also do what the whitepaper was stated and if will happen some people lost their trust. And some ICO has also the intention to scam people.

[Ismoney 230]

This is actually true since some of the projects have good intentions but forces beyond their control makes them to shut down as if they are false sites.

[Honny143 13612]

Everyone knows icos run when they collect funding for their projects, but sometimes they can't success in their estimation, so without fund they also not work in their project, so they do scam but some times scammers do this scam,so I think now a days icos not useful for us.

[Lisaalisa 1]

On 29.11.2019 at 19:55, SyntaxEr. said:

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. 

 

Now you need to pay attention to the team (maybe one of the participants has already been seen in the scam), how much it collects on the ICO, whether the github is updated. Read the information on the forums and proven telegram channels.

[Lisaalisa 1]

On 11.12.2019 at 10:05, Sohel Rana said:

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.

I completely agree with you. It's easier to raise money from hamsters than to create something!

[Red-Jones 1150]

4 hours ago, Yomose said:

Scammers are everywhere, when scammers noticed people can be easily manipulated by fake ICO, it became trendy in 2017 and many scammers were so lucky, it was their luckiest year until people started to wakeup in 2018.

 

true and it was for that sad fact that bitcoin prices and all altcoins reached their ATH and after the scammers started to be discovered many people stopped investing in ICOs and the price of Bitcoin and ETH started to fall a lot and failed to recover until today

[Yomose 3704]

1 hour ago, EmiKanNi said:

I do not see any perfect reason ICO gas become scam, or should we say almost all ICO are scam, scammers see it as a way to let people invest, some are even hyip in which investor that lose are much more than the ones that gain. 

Since 2017 till now, most ICO are scam tricks but some offered by exchanges are still good, but ICO generally are scam especially the ones having their own wallet and not regulate by exchanges. 

[Mathlevel 1]

On 7/14/2020 at 9:57 AM, Yomose said:

Since 2017 till now, most ICO are scam tricks but some offered by exchanges are still good, but ICO generally are scam especially the ones having their own wallet and not regulate by exchanges. 

Token offering held by exchange the name isn't ICO but IEO, why IEO better than ICO because there is certainty that the token will be traded on the exchange, but often the initial price at the pump and after that drops far even below the initial sale price, both are still risk to be scam.

[Yomose 3704]

8 hours ago, Mathlevel said:

Token offering held by exchange the name isn't ICO but IEO, why IEO better than ICO because there is certainty that the token will be traded on the exchange, but often the initial price at the pump and after that drops far even below the initial sale price, both are still risk to be scam.

@Mathlevel I agree with you but I have just a question for you, can IEO coin be subjected to pump and dump? Have you experienced such before?. 

I know why you are trying to say but make sure the IEO you are interested in is from regulate exchange, that is what I am trying to explain. 

[DiamondBit 720]

15 hours ago, Yomose said:

@Mathlevel I agree with you but I have just a question for you, can IEO coin be subjected to pump and dump?

This is not hard to discuss, so far there at scam exchanges, some are not regulated as said above, I will say yes it I possible, even some lose while using son exchanges IEO but IEO has never been scam like ICO in which could be ponzi. 

[Tunuu 2235]

Maybe some of them started as legit ICO but they did not reach their goals and turn to scam. But am not sure with that because there are many people who lost much amount with fake ICO from the beginning.

[Oplia45 28]

In the beginning, ICO was performed extremely in good health and a lot of peoples got loads of profit. approximately large ICO paradigm is Binance coin and yo token. But at a snail's pace gradually consequently a lot of ICO indoors in promote and this ICO complete vast scammed.
 

[Guroo0 47]

One reason why tricksters full ico is that numerous individuals this days is by all accounts sluggish searching with the expectation of complimentary cash which is making the crycto world hard to trust

[rafatu 26]

even before getting involve with any IEO first have a look at the exchange. I have seen soo many IEOs that fail to deliver due falling price of the offering exchanger.

[TheRealCryptoDex 39]

This is so informative; "around the 80% of the ICO's launched in 2018" were scam, guys, it's important to look at ALL the project features and then rasonate if they make sense or not. Many of the currents ICO are preceded by an airdrop so you have to be extra careful with those, they can ask you to buy their coin in promise to get it cheaper and make you rich when you'll sell it in the future, don't be tricked by this grubby methods and make your personal analysis before joining into one. Best regards to all of you ^^.

[lolok 60]

Many ICOs are empty of interest.
In 2017 and 2018 it was full of ICOs of no interest
Often they weren't a scam but it became a scam so over time because the project was bad.
Nowadays in some countries ICOs are better supervised and some countries sometimes give label of aggreement.

[Gherkj34k 55]

There are several reasons, one of them is the common greed of developers. Perhaps they did not set themselves the goal of releasing a new decent crypto coin, they just wanted to raise more money

[josss126 41]

it is a simple reason because most of the ICOs are just created to scam people since the beginning we all know that.

[LUISAHG. 49]

On 11/28/2019 at 2:00 AM, 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.

 

 

This is a very serious problem and the problem is getting bigger every day. For the simple fact of being decentralized and free ...

58 minutes ago, josss126 said:

it is a simple reason because most of the ICOs are just created to scam people since the beginning we all know that.

If you show responsibility it is also due to having more mistrust and malice. We must be more cautious and cautious ...

[Nariela 73]

Excelent post friend, it is true, the ICO market is not the same as it was in 2017-2018, but as you and other users expose the reason for ICO will be scam are multiple and notorius, we have to be careful and informated always