With this blog post I want to describe a typical behaviour of ICO Scammers.
I have seen meanwhile the price of token literally collapse in just few weeks/months (as predicted).
This can be a very useful lesson before interact with new projects/new teams.
The project described in this post is called "BlockBurn".
After a big Hype (several millions of USD collected) actually they have no market (less then 1 USD daily traded) and a value of 0,00001590 USD per token! Let's see together 5 signals that helps to spot an ICO Scammer!
I tried to join their signature campaign, see link in reference on 10th February 2020.
I haven't received any reply on public topic or telegram.
I have also sent a MP to admin of the project without receiving a reply.
I have asked more information in their bounty topic but they have never replied.
Why some one should totally not care about a customer?
During their bounty campaign they made a "token swap" and price has literally collapsed from 0.26 USD to 0.0347 USD
100 new token (1 old token) 0.0347 USD vs 0.260958 USD (1 old token).....
Yes this is around 95% of price loss in just one second!
I have asked information in their telegram group about the bounty campaign.
They offended me and my mother (!) plus obviously I was banned from their group.
How can you trust an admin that has totally no care of customer and waste the time in such manner?
Their spreadsheet is not available anymore and people are complaining about errors or missing information.
They promoted their bounty with payment after 2 weeks after ending of bounty.
They replying to people that ask this information a generic [more] "5 weeks".
Of course no one has been payed after several delays excuse and people banned
People that ask information "When will the spreadsheet be viewable"
receive by admin these answer! "When you stop asking" .
So please be aware of these information and don't feed scammers with these low quality project that WILL NEVER BE LAUNCHED !
They announced a fake partnership with an exchange just to revamp attention and leave focus from current bounties troubles.
Don't answer directly to a question and not solve these big issues is always a sign of scam intention.
https://bitcointalk.org/index.php?action=profile;u=2670944 (Scammers Profile)
https://bitcointalk.org/index.php?topic=5224340.0 (Bounty Topic)
https://bitcointalk.org/index.php?topic=5224340.msg53810768#msg53810768 (Application signature campaign)
https://bitcointalk.org/index.php?topic=5224340.msg54002254#msg54002254 (Request of information)
https://bitcointalk.org/index.php?topic=5224340.msg54005904#msg54005904 (Token swap)
This guide has been adapted from original post in bitcointalk here