ICO Scams and Hack Attacks

As you know, in the cryptocurrency market, we can come across a few cryptocurrencies that are actually fraudulent.. Cryptocurrencies that emerged just to bring some humor to the market are not a problem, of course.. But those who are deliberately deceiving you to take your money are.

Although most of these plots are very obvious, sometimes we fall into our distractions and make a mistake.. That’s why we will try to remind you of at least the most well-known ways to understand such scams.

• Too much less work: We all know that the websites of such projects are “less words, more work”. We can say that he is doing the opposite of what he said.. The site is covered with bright and assertive words.. As you will notice, it is impossible not to notice, “BUY NOW” ads are popping up all over the place.. Such sites generally use free site software, so site security is not at a very high level.
• Insufficient staff:We can say that the software of their site does not consist of very detailed codes and is partially simple.. You don’t get detailed answers when you ask important questions to developers.. Sometimes you don’t get an answer at all. When you research this project on the internet, you realize that people are saying negative things.
• The job descriptions are variable: The exact purpose of the token this project has spawned is unknown.. Their mission and vision can change frequently, so to speak, because there is no fixed view they take as a principle.. It is also unknown how the market value of this token can be increased.. The team that created the project may have reserved some of the tokens for themselves, which allows them to do price manipulation.

If these signs are starting to bother you too much, say, “Fuck off!” With the logic of logic, you can consider getting rid of that crypto money as soon as possible.

Hack Cases

In the past weeks, some ICOs were allegedly hacked.. A few of these claims were true, and there was definitely a hacking attack.. For example, there was an attack on Parity, a wallet software, and many people’s investments were stolen.. The hacker who carried out the attack took advantage of a bug in the system. This bug caused the hacker to take ownership of other users’ multi-signature wallets, thus allowing users to withdraw their deposits.

Parity team confirmed it was such a bug, and it will not happen again. announced that it has started working to prevent. Most importantly, they made a detailed statement about the attack and shared the technical details with the public.. So there is nothing to be suspicious about.

Other “hack attacks” look a little more suspicious.. After some hack attacks, the ICO team made short statements that did not satisfy the users and did not share proper technical information about the event.. The information shared with the public was so scant that some even claimed it was an “escape plan.” wouldn’t you share? If human error is the reason for such an attack, make it public as reasonably as possible so people don’t start throwing conspiracy theories out of insufficient information.. Failure to transparently explain things after such an attack hurts both the project and its community.. Especially at a time when we can easily ask for “evidence”. It is a pity that there are users who, after experiencing such a grievance, are content with a half-hearted statement made by the team instead of asking for solid evidence and explanations from the ICO team.

Raising Unnecessary Worry

The project of a hacked project It is not a good idea to say that the attack is the “deficiency” of the sector and to demand increased security without fully knowing its structure, how it works and how it works.. In other words, there is no need to go and throw mud at the entire industry just because a project has been attacked.. Because as we mentioned above, some ‘attacks’ may not actually be even attacks at all.

For example, a team creates a new ICO, after receiving a lot of investment from the users, they declare that they have been “hacked”, their users respond to it. they make you believe and they simply make a profit.

Sounds simple, yes, but a team with no intention of doing business honestly can easily say, “We were hacked,” and That’s why, before investing in an ICO, it is very important to examine who the people who created that ICO are, what their experiences and references are.. It is quite possible that there are more scammers than hackers in this market right now.