I once sent someone thousands of pounds by bank transfer for a car which didn’t exist. God damn I felt like an idiot. I had bought many cars this way before from trusted sellers.
This deal wasn’t “too good to be true” , it was a fair price for what looked like a good car.
That was in 2014, the police are still investigating the crime, I get an update every couple of months to tell me that they haven’t made any more progress.
Yesterday some members of the EOS community were crying out for help as they were sure that an ICO exit scam was occurring and they and many others would be victims.
Without going into details I had a little dig around and was stunned at the amount of people who have sent funds to this project on the promise of further gains.
We need to stop this madness.
Here are 3 simple rules.
- Do your research.
- Be Skeptical
- Own your decision.
There are going be lots of great investment opportunities, but with that will come lots of scams. This is not kindergarden, there is no teacher to run to when you get in trouble.
Some questions to ask when evaluating a project.
- Who are the team? Can you talk with them on a Zoom call? If not, why not?
- Why are they raising the money?
- What are their delivery milestones?
- Why should you care about this idea?
- What are they doing different to the other opportunities.
- Which trusted community members or Block Producers are working with them. If not, why not?
- Where is the business located? Check that it is real.
- What references are they able to provide?
- How long have the team been working together?
- Can you meet them face to face at an upcoming event? If not, why not?
Later this month we will be launching our Ignition platform which will be helping legitimate dApps start and build their communities. While we cannot promise that every idea will work, we can assure that any projects which eosDublin are associated with will pass the above checks.
Stay safe! — Caveat emptor!
