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How to defend against ICOs Scam: a personal history

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The initial offerings of coins or ICO, are very popular at the moment. This type of crowdfunding based on Ethereum has a leading role in funding startups related to crypto

It can be said that they are based on Ethereum because most often, the ICOs are based on Blockchain of Buterin, For example, a smart contract can set goals and funding rules so that the money raised during the ICO can only be spent for the benefit of the business. previously decided objective.

The OICs are not the devil

At present, ICOs are not regulated, which can be considered a pro and an abuse because it's not the same. is a faster way for businesses to bypass the capital raising process required by capitalists and banks. However, there is no way to control this kind of sales.

In fact, the lack of legal guidance has given rise to more than a few scams, and investors may find it difficult to understand where there is potential. opportunity or it's a Ponzi scheme

Of course, this does not mean that ACIs are all bad.

How to Evaluate an ICO: Start with the Member Team

There are some steps you need to follow if you want to avoid a fraudulent ICO. In my opinion – the first one checks who are the people involved in the team and who are the project advisors.

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Even in a crypto-related world where everything is immaterial, you have to check people's popularity, popularity, and seriousness before deciding to invest in a symbolic sale.

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After checking the goals of the project and the usefulness of the new token, you must check background of the team via LinkedIn or other social networks.

This is where my story starts because I was added to an ICO scam project without permission and with incorrect information about my work and my skills.

I would say that it's a scam. a member of the team without permission looks handsome in the eyes of investors – hoping that interested people would not notice – is still a problem related to the scam

Fortunately, I am have my Google Alert set, so I quickly found this ICO abusing my name. 459005]

First rule: Google it!

Generally, when this type of company adds a wrong name to his team, this unlucky person has a different context than the one revealed in his LinkedIn profile.

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The first rule is: Google it! Always check the technical knowledge, and previous jobs in the fintech technology industry of people you find involved in an ICO team.

In fact, this coin MCX that exploited my name by saying that I am their community manager is wrong.

Also, they proudly explained that I speak Chinese correctly, but this is not true, unfortunately, for them – and for me too.

Other The fake members of the team were used on their website with roles that they never covered in their entire lives. My colleague Eleonora Corti for example, was added to this ICO scam project with the label of "legal counsel" while she never worked in this industry.

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This is my "sad" story, just to explain why you should check all the team members involved in an ICO before investing in it.

I hope nobody has been scammed by this project. Again, I have nothing to do with them; I only worked for Eidoo and Cointelegraph of course.

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