3 How To Detect Fake ICO Sold

ICO investors beware: your research about any investment should do more than just the white book and the web site of the company, since both may be false!

It's something that many of us might already suspect, but it has been confirmed in the last few days because of news reports in China highlight the blockchain whitepaper and content sales ICO's full-service Taobao, China's largest C2C ecommerce market.

Some vendors on the site that offers you ICO whitepaper written by ghost is priced at 8,000 to 10,000 words with a price of less than $500. There are also additional services available, reportedly including everything from construction to counterfeit web sites of non-Chinese team members, expert advisors "Harvard and Yale," software engineer "Apple and Google", and many more. For a relatively low price, the service will build the entire identity of the ICO fake for you, complete with a whitepaper and United Kingdom as well as language, web site development and management team looks impressive (but entirely contrived).

Taobao reported has been blocked on this list because they are starting to get some attention, but that doesn't mean that thousands of people who've bought they don't plan to use their content. And although the service is currently made headlines in China, they almost certainly exist in other places as well.

Cryptocurrency market brimming with scams of all kinds, but this news is a good reminder that you don't need to take even the absolute basics like a whitepaper or list of teams for granted until you confirm it with outside sources.

How To Detect Fake ICO

1. the Whitepaper:

The best way to find fake whitepaper is to ask someone with technical knowledge to judge it: is a description of the technology that makes sense? Does it sounds like written by someone who really understand what they are doing?

Even if you don't have a technical background, you may be able to detect where the terminology is used incorrectly, or in which the phrase appears to be unclear. You can even copy-paste some phrases and Google them to see if they had been lifted from the White material or promotional materials to other projects.

There may be other signs too. For example, if a company based in the United Kingdom speaking countries or have a member of the United Kingdom speaking in the team, but white's book is full of grammatical errors and spelling, it's a sign that it may be false.

1. web site:

Search the WHOIS information for the domain and check to see if the domain registrar and other contact information. Project blockchain United with China domain registration and contact info of China? It's a red flag.

You can also scan web sites such as whitepaper, search for content that is plagiarized by Google and scans the techno-rave. You can even consider assessing your site design and marketing materials. Does the site use a generic picture they might find on Google, or does it have the original image, and maybe even a video or animated short?

If the project has paid cash for the original design or original videos, of course there is a better chance that it's not just fast cash ambilan (though it's still no guarantee).

1. Team:

The easiest way to check again whether it's a legit team members only to find their names on LinkedIn and Google. Whether this blockchain project listed on their LinkedIn? Is it mentioned in any social media accounts that you find in the search results? You should do the same for any existing Advisory in projects list – very likely they just pulled the names of people who looked impressive they don't call.

If you are still in doubt, you can even contact a team member or adviser concerned. There is no guarantee you will get the answers, of course. But then, if you reach out to a group of team members and never heard anything back, it's still useful information – now you know that the team is not too responsive to prospect/investors, which can inform Your investment decisions.

Whatever you do, the land out there, and do the digging you. Do not take anything on a web site project or in a whitepaper with nominal value until you at least incorporate one or two hours to Google to check their claims.