New Russian Platform ‘The Crypto Detectives’ Pledges To Weed Out Bad Acting ICOs From Ecoystem
Crypto Detectives From Russia Pledge To Weed Out Suspicious ICOs From The Crypto Ecoystem
A project from Russia has the aim of making the crypto industry more secure for investors. They look into ICOs that are questionable and perform due diligence for no cost. A detailed report about each ICO is released which contains а review of the verdicts and a resolution about the nature of the project.
According to their website:
“The idea to create a project “CryptoDetectives” was born from our analysis of HYIP, which surrounds the whole ICO process. I do not want to offend colleagues in the industry – but most of the blockchain industry events resemble the Riders show from the film “Illusion of deception”, and the ability of people and projects to collect as much money from investors became a criterion for the success of people and projects. So we decided to analyze both new projects that are only going to start collecting money – that is, go to ICO – and already existing projects, investments in which, in our opinion, turned out to be not as profitable for investors as expected.”
The examined projects are organized by the results of the researches and designated an alert rating which can be green, yellow or red.
They reportedly examine the whitepaper and website of a given ICO and scrutinize their established business model, applied marketing strategy and legal structure. The platform even looks into social media of the ICO and sees the history of team members, including media appearances and interviews. These ICOs are reviewed by both internal and external experts. The decisive opinion is further based on a study of the competition in the sector and the commercial viability of similar projects.
Crypto detectives say that they aren't doing this project to blackmail startups but their motives are altruistic. Even though the conclusions that the authors arrive to may be subjective in nature, they try to negate their biases through research.
Through an association with a law firm LT Solutions, they even offer legal advice to investors and present legal support to people who have lost money in deceitful projects including ICOs, cryptocurrency trading platforms, and crypto-lending programs.