ICO SCAM Alert and Red Flag rules

ICO ratings should not be performance indicators of the project authenticity.

We have produced a universal SCAM marker system called “Red Flag” to identify problems with ICO and prevent ICO SCAM.

Actual list of ICO SCAM alerts

We figure on two types of ICO problems:

  1. SCAM ICO – the group of people, that initially plans the fraudulent intent.
  2. Neglected ICO – if the project was neglected then it is no worth to diddle both the time and money.  There are a lot of reasons why the projects are renounced but their websites are still active and the investor can buy the coins.

“Red Flag” does not certainly mean that current ICO is a SCAM. Red Flag sign is cogent argument to take another close look at the ICO before invest namely this project. Together we can help to save time and money of ICO investors. Help us to find such “Red Flags” projects and ICO scam.

If you have any ideas for our system improvement or you have already found some distrustful ICO, write us back m@iconow.net

What types of ICO “Red Flag” exist?  When we mark “Red Flag”?

Social networks Red Flag

  • There are no valid Twitter or Telegram accounts
  • There are no posts in Twitter for the last 10 days (for non ICO period) and last 3 days (for ICO period)
  • There are no answers from admin in Telegram during the last 2 days.

ICO terms Red Flag

  • The change of ICO date is without serious matters (the failure to raise funds is not significant matter for the change)
  • There is non compliance of the data (ICO date, tokens number, tokens split and etc.) between WP, site and other information sources
  • There is no WhitePaper documents
  • On early ICO stages bonuses are overestimated(PRE ICO, Private ICO)
  • The project looks like a pyramid

ICO Promo Red Flag

  • During ICO the marketing was weak
  • Website is not secured by a valid SSL certificate
  • Very large referral paying over ( more than 5%)
  • Small amount of money collected from Pre-ICO/ICO

Plagiarism

  • Plagiarism of any kind (white paper, program code on Github, others).

ICO team

  • The member of the team mentioned in the email that he had no bearing on this project.
  • The LinkedIn profile has been blocked
  • LinkedIn profile is created recently, and it has not many contacts. The work experience in LinkedIn profile has suspicious description.
  • There are no LinkedIn accounts or Social Media accounts of team members

ICO SCAM ALERT (we think this ICO is probably SCAM)

  • Photos of team members are taken from photo banks or from other sources by changing person names.
  • The member of the team mentioned in the email that he had no bearing on this project.
  • We think is be a phishing or malware site
  • The project looks like a pyramid scheme
  • Didn’t pay bounty/airdrop