How to avoid fraud Fraud is an integral part of the existin | Erachain News

How to avoid fraud

Fraud is an integral part of the existing reality, which is present in any industry in various forms, especially where there is a large income.
There will always be sly people willing to use the incompetence of others and their vicious desire for quick profit in their favor. The risk of getting caught on the tricks of crooks is always there, but to avoid it, or at least to reduce it is possible.

Signs of an alarming call:

- There is no accurate or up-to-date information about the company initiating the call;
- Absence of press releases, media coverage or the difference between the articles posted and the information provided on the site;
- not developed by White Paper or a copy from someone else's project;
- The idea of the project, which generates income, is not clear There are no obvious reasons for economic expediency;
- team list is not identified with real people;
- There is no roadmap;
- There are dubious trade practices, such as insider trading, market manipulation and much more;
- There is an unusual rush in execution;
- Complex issues are ignored.

How to defend yourself

1. Be skeptical of the insistent advice "We need to buy urgently" and expert opinions from unknown to you "experts" from the online environment;

2. Get the necessary information about ICO before you buy its new cryptocurrency on the exchange.

3. Do not be lazy to track social networks and other open sources about the people whose profiles are listed in the project team. If the team description section does not contain links to the profiles of the project participants in social networks, which immediately excludes the possibility of investors to check any facts or ask the team about their participation in the project - this is a serious reason to be wary.

4. Thoroughly study the business plan. Pay attention to costs and income.


5. Analyse terms and conditions, white paper, the company's website and other materials containing legally relevant information.

If this situation has happened to you, then the world practice proves that the victims should unite when filing a lawsuit.