Scam Alert: The Tricks Online Scammers Use During A Token Sale
Naturally, we were also a target for many scammers.
Community management is part of a comprehensive marketing strategy to engage and communicate directly with your project’s advocates. A large Telegram group member count is an indication to how the project is supported by the community.
However, where there is a large crowd, there are also scammers who pose as members of the project to extract money from investors. Many of these scammers are part of very well organised global groups who make large sums of money from these elaborate scams. Therefore, they are highly motivated to create fake accounts and sites that looks like the real thing. They are devious, cunning and relentless in their scams, and projects must be at their most vigilant before and during a token sale period.
As such, below are some items to watch out for when managing your community and keeping it safe from online scammers.
Tip one: recognise fake Telegram admins
I learned that I needed to be extremely attentive about checking fake names. Fake Telegram admins would send private messages to other community members asking for BTC and ETH before the public token sale period started. They used very similar looking Telegram names, the same photo, and were often hard to detect at the surface level.
Tip two: be alert to fake Telegram groups and Google forms
While I was at Havven, other fake Telegram groups and announcement channels calling themselves Havven Coin and Havven ICO popped up, looking like our Telegram group, to get people to join and to broadcast deviant/malicious information. Others were also creating fake Google forms to collect private and personal information such as email and wallet addresses, emailing through scam information afterwards to unsuspecting investors.
Tip three: don’t be fooled by fake websites, blog articles and emails
Yes, fake news is alive and well in crypto-land!
We were subject to fake websites, blog articles and emails that said our ICO was available at a date earlier than our official public token sale date. Phishing attempts are very dangerous because members may join thinking it is the real thing, and ultimately, these scammers will ask members to deposit crypto into the scammer’s account.
When running a token sale, you need to be extremely vigilant. Aim to protect your investors and the community at every opportunity. With audiences investing in your project from around the world, you will need a strong community management team managing your Telegram channels 24/7 and constantly deleting and banning scammers who are always lurking. Read my next blog to learn the Three Top Tips To Overcome Scammers Online: Before, During and After Your Token Sale.
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