In order to reveal the scam-project one should study the history, competence, personal and cultural features of each member of the team. If they do not correspond to each other and to the purposes of the project, it will appear scam with a 90% chance. But one step at a time.

Project manager

The people who create a project and manage it should understand how the product will look and how it should be implemented. Besides, they should stick to one way of implementation. Otherwise, the team will collapse in the middle.

Therefore, it is necessary to study the following questions carefully:

• Has the manager ever handled the significant budgets? Why did he resign and start the new project? Has he got the experience at C-level? I.e., has he ever held a position of a top manager such as CEO, CFO, CVO, CMO?

• Has he founded any company in the past? What is the history of the company? Has he gained a useful experience?

• What are the business network and the social competence of the team?

 Level of competence

 The effective team should always have experts from different fields of expertise with experience of successful work on the leading edge of their spheres of activity such as management, finance, marketing, development, sales, communication with investors, strategy of the market.

• The lack of balance between levels of competence of technical and commercial specialists could be a sign that the team does not implement the product.

• It is also important for a team to have a strict architecture and a transparent distribution of all duties.

• If you notice any vacancies in human resources, make sure that the team is going to close them in the future. It is important that these "windows" were closed by consultants.


 While investigating the project, it is necessary to understand accurately that the role of a consultant is not limited to just publicity. An adviser is obliged to realize the activity of the company, to be wrapped up into it. Besides, a consultant should have the competence to balance a team and to fill vacancies, to have an experience in the industry and to support a team in working order during a crisis.

Therefore, it is necessary to receive answers to the following questions:

 • What role do consultants play in a project? What reputation, competence and experience does a consultant have?

• Have they ever interacted with the team members before?

• How much does the participation of a consultant cost?

• Is a consultant just a media person? Or is he an expert who can be trusted?


 One should study the history of successful rounds of investments attraction. It is important to understand that the success of funds rising depends on how the company collected investments during financing rounds earlier. Therefore, it is important to trace it.

 • Have the team ever organized an ICO earlier?

• How much did they attract?

 Business relations and publicity

 • Study the ways of communication with investors and the community. Who is a link between the team and mass media? Are members of the team friendly and opened, or aggressive and cagey?

• How clear are the reports on the achievements of the project? How often do the team publish them? It is necessary to compare the previous reports with the present one, in order to realize whether the team manipulates the facts about the project.

• How active is the team? Have they announced their developments? Are C-level managers engaged in other activities? Do they have enough time for this project?

• Are the members of the team involved in crime? Does their activity fall under the sanctions of regulators?

 Information channels of assessment of ICO

 • Popular social networks;

• Internet sources of a company;

• Personal blogs by participants of a project;

• GitHub, ProductHunt;

• Crunchbase, Internet sources of the relatable enterprises, the community sites.