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Beware of VAULTBANK (VB) ICO , take into consideration that all ICOs are unregulated ,and do not provide protection to investors ,in case of fraud or loss.
ICO — the hottest craze in cryptocurrencies — is an ‘absolute scam,’ Wikipedia Founder Jimmy Wales says .
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The Hacking Team will monitor from now on , 24 hours a day , the financial reputation of VAULTBANK (VB) and the people involved in this company, and will notify you about every complaints, Reviews, Scams, Lawsuits, Frauds reported online.
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After a careful evaluation it looks like VAULTBANK (VB) , has no clear business plans. And while investors might hope that the VAULTBANK (VB) tokens appreciate in value, as those in the bitcoin and Ethereum networks have done, that may not ever happen . The SEC is on the lookout for pump-and-dump schemes , and we will pass them our reports about VAULTBANK (VB) ICO .
Before buying tokens at VAULTBANK (VB) , please check first , our reviews page , you will find always the most updated information about VAULTBANK (VB) , including existing lawsuits records , bankruptcy, legal issues , negative articles, negative comments, negative customer complaints, scam reports , fraud alerts ,arrest records ,negative blogs , negative forum posts , negative mentioning ,negative reviews.
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Wall Street’s top regulator has a warning for mom-and-pop investors who are rushing into the booming market for initial coin offerings: the space is probably full of fraud.
The Wolf of Wall Street Thinks that ICOs Are ‘The Biggest Scam Ever’
We looked the team up. We did not limit ourselves to Facebook and LinkedIn profiles, and tried to find more social activity from them. We runned a full background check on every person involved in VAULTBANK (VB) ICO .
There is no trace of discussions, participation in any groups or projects — it is a red flag. We invite you to Investigate the core team behind the project. Find out if the team members actually exist , who they really are , what they have done till those days , when they opened their LinkedIn accounts , etc… Do they have a track record or experience that is relevant to the project that is verifiable? In the VAULTBANK (VB) ICO case , the answer is negative .
Are you confident that the team has the ability to deliver versus what is promised and are the goals achievable? The Answer is NO !!
We investigated the legal side. Look up at the website domain , the real registration address, their offices location — we even sent an offline mail to the office mentioned .
We even googled the cell number and e-mails that are connected to the VAULTBANK (VB) ICO team — and found traces of previous activities in the far corners of the web, that told us a lot about the team members .
You can also easily check if they are a real member of the Bitcoin community through a very handy feature on Bitcointalk, the most popular cryptocurrency forum out there where this projects are usually announced.
Thinking up a product is not the same thing as creating it. Startups very often “burn out” when faced with unforeseen problems. Someone goes bankrupt after launching his startup, while someone else doesn’t launch at all.
Because of such frequent failures, many countries have begun to tighten the screws: China has banned ICOs completely, and the US prohibits the receipt of dividends through an ICO.
First of all, you have to understand that an ICO is a significant risk.
Any project you invest money in must be real right now, not in the distant future.
Any contact information, including phone numbers and addresses, must be valid.
An ICO must have its own currency system, and the holder of it should be its exclusive beneficiary. The token it issues must not only be sellable at a higher price, but also have a solid rationale for its further development in the project. Definitely get familiar with the white-paper section, where this point is described in detail.
A scam ICO could favour 2 approaches to supply management:
Fixed supply to boost the appearance of scarcity and push up the price .
A fluctuating supply allowing them to sell an apparently scarce supply and then programmatically double the supply and dump it onto an exchange before fleeing into the wilderness.
Lack of open team profiles: If an ICO doesn’t provide social profiles of the team members, it’s quite likely to be a scam. Try to find a team that has at least one member having a successful crypto project under his/her belt.
Speaking about the VAULTBANK (VB) ICO theme, or their business concept, we really do not think there’s a market for that kind of product and even if there is , there are stong rivals in the field already . Scam can be seen by an over optimistic or too general description and this is what happened with VAULTBANK (VB) ICO .
After SEC & MAS reports, everybody knows one can’t just issue ‘randomcoins’. So if a token is not supported by anything (i.e bonuses, ecosystem, company share etc), its issuer might be a scam. So how the VAULTBANK (VB) ICO tokens are actually backed up ? Good Question indeed !
Be sure to check the past track record of the team and learn about any of the completed projects that are available to you.
For the more technically inclined, check whether the project’s code is open for scrutiny on github.
The VAULTBANK (VB) ICO project’s code appears to be cloned from another token/app , this means it is likely to be a scam.
Before investing in VAULTBANK (VB) ICO : Put questions towards the project team and draw conclusions from the types of responses you receive or discussions you read in these forms.
Compromised or missing escrow: Absence of an escrow account is the biggest red flag to look out for. Similarly, if an escrow releases 100% funds to the project team after ICO, it’s a bad escrow, and should be considered as a red flag. Fund releasing should happen gradually such as 20% after token distribution, 40% after beta release, and similar milestones.
No technical details in the whitepaper: If an ICO promises to disrupt an established industry without providing any technical or operational details, it qualifies as a scam. Good whitepapers have charts, calculations, specifications, and even code at times.
Unrealistic goals: If an ICO makes bold claims without an economic plan or roadmap to support it, it’s best to avoid investing. Further, even if the team has offered a roadmap, you have to do your own research and judge the feasibility of the project.
Missing code repository: This is another sure shot method to spotting an ICO scam. If the company is unwilling to release its code to public repositories such as Github, avoid the ICO altogether.
You should understand the business model laid out in the whitepaper in totality. Legitimate whitepapers will include how the raised funds will be spent and how many will be available to the public via the crowdsale. You should never invest in a company that doesn’t have a legitimate Whitepaper and by reading the whitepapers of already successful ventures, you can get a great feel for what data you require.
The best thing you can do is to communicate with corporate executives involved with the ICO. In most cases, they are more than happy to provide valuable information to help you make your decision. Always be aware that the people you talk to may not have the best intentions, so try to avoid sales pitches. Instead, focus on validating the company’s existence and direction.
Are the project developers open to dialogue?
Are they forthcoming or are they evasive? ( Check by yourself ….you will not like what you hear )
Are responses specific or do the parties involved speak in generalities? ( Generalities from what we found out )
Do they come off as overly optimistic? YES , they are !
Good question you must ask yourself before buying their VAULTBANK (VB) tokens are :
“Could this project be accomplished using a token that is already in existence, such as Ether?
“Is the creation of a new token necessary?”
According to our analysts the VAULTBANK (VB) project will not be able to acquire a share of the market space , with their product innovation or services.
How long has the VAULTBANK (VB) project been in development? Nobody really knows .
The VAULTBANK (VB) project has no substantial record of progress over several months and has only recently appeared, this is a sign to be very cautious.
Is the token supported or projected to be supported on more than one exchange now or in the near future? Very Difficult to answer in VAULTBANK (VB) case .
How will the tokens be used, by whom and are there any indications of support coming from the market? We do not know !!
We have a lot of unanswered question regarding the VAULTBANK (VB) ICO :
Will there a cap on the maximum amount of coins that will ever be produced, like bitcoin, or will there be a steady increases in the number of tokens issued over time that could effect the value of all tokens in the future?
What is an ICO Scam?
ICOs are a cheap way to finance artificial development without any commitments. They are a scam in itself because there is no insurance on the failure to deliver.
ICO’s & crypto’s don’t have well-documented proof that their business roadmap is working. Purchasing into one is similar to investing in a startup business with no evidence. It’s risky. More times than not when you invest in, you are investing in a research project, not a company. Yes I know, it is a little harsh assessment but an excellent sobering thought to possess.
Why Does the ICO Scam Work?
People will be people; there is a lot of money to be made on speculation. The lure of making back your money quickly is a great selling strategy. It is a new generation of Ponzi schemes. A simple reason on why ICO is so popular and works is because they are not regulated formally by any financial jurisdiction, and exist in the crypto ecosystem where there are fewer checks and balances.
Your investment is extremely liquidatable; you can cash out whenever, which makes this space quite distinctive and exciting. Combine this with your typical individual who understands little of investing and only throws money at things. Hype fuels a good deal of gains in crypto’s which adds more danger, as any marketing firm can tell you Hype can be bought or created artificially.
How to Not Fall into the ICO scam?
With investments in ICOs always remember, you are not investing; you are mostly gambling. Most of these companies will likely fail to deliver on their promises. Maybe they never intended to make a product in the first place.
The first rule of thumb when it comes to investment in new ICOs is never investing in them unless you have seen a working prototype of their product in action yourself.
Due diligence is the key when it comes to research in the upcoming ICOs and the products they are offering. You cannot just rely on other people’s research, comments, thoughts or analysis. There are always individuals who pass off paid promotion content as their research.
It’s always a good idea to Invest in something you do understand. Since you already know the basics of the product, you can dive deep and learn about their technology, market viability, supply, demand, roadmap, incentives, etc.
As you are probably aware, the huge majority of businesses fail within a couple of years of starting. The businesses who do not, get purchased or acquire significant additional amounts of funding. They have good revenue streams, clients and well-documented evidence that their business proposal is functioning at some level.
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How will the token be used in the network and is it even necessary?
From what we read online the VAULTBANK (VB) ICO , often makes bold claims about their product even though said project offers nothing new or disruptive.
No serious team will ever make a price prediction about their token or claim it can fix the world. But the VAULTBANK (VB) ICO team did exactly that on their website . AGAIN RED FLAG .
The VAULTBANK (VB) ICO whitepaper is a real Buzzword salads , looks good , but when you actually sit down to digest it, this ICO taste like vague claims and empty promises.
You do not only want to see a very thorough whitepaper, but also look for a variety of complementary resources such as SWOT analysis, financial model, wallet design, competitor analysis, institutional studies, and more
We anayzed the matter and there is NOT a strong business case for VAULTBANK (VB) technology.
When evaluating the VAULTBANK (VB) ICO, the good first question to ask is: “Do they need a blockchain or a native token for this project?” The answer is no to both, chances are the ICO project is an example of solutionism — crypto for crypto’s sake — or a scam.
ICOs will usually have an escrow to hold user’s funds during the ICO and after. So keep an eye out for the Escrow participants and the escrow conditions. This may save you some money. We do not think that the X startup is using the top Escrow service . And if it’s not, it can be a good indicator about the ICO being a non-authentic one.
Ask them the right questions before investing even one single dollar in the VAULTBANK (VB) ICO .
While there are definitely some companies building innovative things on top of blockchains (and in the crypto space generally), there are many fraudulent groups who are looking for a quick cash grab. The field can be even more confusing to navigate when malicious groups get celebrity endorsements. Surely a trusted face would vet whoever they support?
Realize that even if a blockchain startup passes all of these tests, it doesn’t mean for certain that they aren’t trying to scam investors out of their money
One thing that you should not forget to check on is what people are talking about the VAULTBANK (VB) ICO which you are interested. If you have any doubt, you can simply put an open ended question on the forum asking people their opinions.
All the discussions here will be a great indicator about the VAULTBANK (VB) ICO being an authentic one.
You can go to Bitcoin Talk or Reddit for such information.
And no matter how alert you remain, there will be a few people in coming times who will con even the smartest of you but as the market matures, the probability of an ICO being a fraudulent one will decrease and ultimately reach a null value.
It is easy to liquidate the commodity asset of your digital currency asset and turn this into other digital currencies or back to cash.
The policies of the company meet the standards for advertising practices of financial services and technology, as prescribe by the SEC or ASIC or similar regulatory body.
Typically this means that claims must be substantiated
HOWEVER – in most cases, the claims of Digital Currency ICOs are more generally OUTLANDISH in nature and feature HYPE MARKETING which promotes only a potential upside that has no correlation with reality.
ICO – Initial Coin Offering
Specifying terms and conditions of the downside is a legal requirement not adhered to by most ICOs. ICOs divert this by saying they are technology advisors. However, unlike IPO rules under SEC, ICOs only need a white paper about a potentiality and a funky website to solicit millions of dollars in digital currency investment.
What user problems will this project solve? Do these problems really exist? Is blockchain able to solve them? Is blockchain really needed at all for solving these issues? Are there similar projects already available and how will this one make a difference in the niche?
Find out who is behind the project: who are founders, top managers, partners, and advisors? Look each of them up on LinkedIn and Google, are they industry veterans or pioneers? Are they opinion leaders with thousands of followers in social media? Or are they newbies coming out of the blue sky? Is there at least one notable advisor or partner onboard? In short, try to answer just 1 question: Will these people risk their reputation and track record to put their names next to the project that’s a scam or has a high potential to fail or never deliver? If the answer is – yes or quite likely, better stay away from such an ICO.
Figure out whether the project idea is feasible from technology and deployment perspective.
One of the main issues with startups and ICOs today is that the proposed ideas look truly revolutionary and great and can quickly attract supporters, but most of them can’t be delivered due to technical limitations and other factors. According to recent surveys, 84 out of 100 ICO projects are never delivered, and one of the key reasons is the lack of technology to execute.
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