Tips

Scams Which Target ICOs – Part 4

Part 4

How does it happen?

ICO organizers get emails from fake YouTubers, journalists and third party suppliers offering services like reviews, listings and publications. Often the scammers are good at social engineering and make ICO representatives think that they got a really good deal. But as soon as they get the payment, the scammers disappear.

How to avoid those?

  •  If you get an offer from a top-level YouTuber to get 5 videos of 0.5 ETH, it’s a signal to pass.
  •  If the offer is very tempting and you tend to believe people, check the spelling of the email and account. Google the news for any mentions of scam with this name, try to find other social media accounts or contacts of this blogger stated on the channel and ping them to double check. Sadly, miracles don’t happen.
  •  If you are not sure, talk to your colleagues, partners or someone who did an ICO. Most likely, they have been through this and can help you to understand the case and prevent the scam.
  •  Apart from actual scammers, there are a number of unscrupulous suppliers. They usually take a pre-payment and may even start working, but then also disappear. To prevent this, avoid a 100% pre-pay and break the overall payment into several transactions.
    Forward our scam-preventing tips to your team chat – and stay safe!
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