One must be pedantic when investing in ICOs. While there are not that many
pure scams, there are even more crappy ICOs that will never get their
product done or hit crypto exchange. One should be careful not to give his
money to such project. There are several indicators how to spot of
fraudulent ICO or otherwise poor ICOs.
1. No Smart Contact.
Yes. I have seen set ups that call themselves an ICO, but have no smart
contract. They are either poorly made scams or just terrible business people
and you should avoid them. Some ICOs claim to have smart contract, but are
not willing to show it to the public. You should treat them as if they don’t
2. Anonymous project.
If you want to scam people, best way to do it is by hiding your identity.
Therefore you should never trust a project that does not display it’s team
members, company information nor physical address. No matter how good the
project seems, there is a reason why they are hiding their identity.
3. Zero in raised funds.
No raised funds is the clearest sign that ICO is not going to make it. Don’t
be the first (and only) idiot to invest in a bad ICO. Some ICOs try to hide
it by displaying false information on their website, therefore always check
Etherscan, or ask for proof of investments.
4. No public discussion channel.
Be suspicious if there is no place discuss openly about the project. Sadly
many ICOs have switched from Telegram group into Telegram channel. If an ICO
uses one-way communication platforms it usually means that they don’t want
other people to see negative feedback that they receive.
5. Raising too much money.
Honest ICOs will ask for the amount of money they actually need to develop
their product. Usually it’s between $5M and $20M. But there are some ICOs
that have their hard cap set at $100M or even higher. These ICOs obviously
just want to raise as much money as possible, and it makes you wonder: Where
will that money go?
6. Too complicated or incoherent plan.
While it does not always mean that ICO is bad (maybe you just didn’t
understand it), usually it’s a sign that team is not professional enough or
that they are just forcing blockchain in their business, when in reality it
does not fit there.
7. Team members have no social media profiles.
If no one, or only one member of the team has linked his social media
profile it makes you wonder are those people real.
8. Homogenous team.
While this is not always a red flag, I’m usually skeptical if all team
members are of the same decent (e.g. Chinese or Russian). While I understand
that teams usually live in the same place and therefore have same
nationality, they should at least hire advisors that are from different
If you like investing in crypto
ICOs, don’t get your hopes up with this Pro Income system. It might look
like a good ICO at first glance, but rest assured that it is anything but
real, legit, or profitable. We are here today doing a Pro Income scam review
to give you all of the details about this dirty cryptocurrency ICO scam.
Pro Income Program – Unclear Roadmap One thing that
really sticks out about this initial coin offering is that it presents
absolutely no clear goals for the future. If we are expected to invest any
amount of money in any ICO, we need to know exactly what is going on. What
are the goals for the future? What does the roadmap look like? What exactly
is the business structure, the methodology, and everything else? We need to
know what is going on here. However, the Pro Income ICO fails to inform us
of any of these things. The website has no roadmap to speak of, it does not
come with a clear whitepaper, or anything else that matters. All that we
know here is that we are supposed to invest a bunch of money. Through
automated trading, we are supposed to make that money back. This is not
nearly good enough to gain our trust, not a single bit. It is clear that
this a really shoddy project that was hastily put together. It is a scam
meant to steal money from people, so obviously these crooks don’t care about
putting together a good white paper.
Pro Income ICO – Anonymous Something else that we know
about this Pro Income scam ICO, or actually what we don’t know, is who is in
charge here. There is not a single place on the website where we are
informed of who the leadership team consists of. We don’t know who the CEO,
CMO, CFO, or anybody else of importance is. This is a really big issue for
us, one that we honestly just cannot get past. History always repeats
itself, and as the past shows, anonymous crypto trading and investments
programs are not to be trusted. Think about it, if the Pro Income system
were real, the people behind it would love to get attention and make their
names known across the world. There is only one reason why these guys are
choosing to stay hidden in a shroud of anonymity. It is because this
cryptocurrency initial coin offering is designed specifically to steal money
from people. This is a fraudulent cryptocurrency ICO and automated trading
system, so the people behind it don’t want to get caught.
Pro Income INC – Non-Existent The next indication that
there is a scam afoot here has to do with the business itself, mainly its
actual existence. On the website, we are shown an incorporation document
from UK, one that looks real enough. However, upon further inspection, and
with lots of digging around, we managed to find the truth. This Pro Income
INC business is not actually real. It has no physical location to speak of,
the owners are nowhere to be found, and the documents shown on the website
are fakes. Yes, that is right, this business does not actually exist. This
is nothing more than a fake front, a way to get at your money, not unlike a
fake little restaurant money laundering operation. These guys are criminals
and the business name is just for show.
Pro Income ICO Scam – Unlicensed We also know for a
fact that the Pro Income ICO system is totally unlicensed. You see, taking
investments from people, promising massive returns, and reinvesting that
money are not just things you can wake up and decide to do one day. There
are lots of legalities and regulations involved here. A company like the Pro
Income INC ICO needs to be real and licensed in order to perform these
financial activities within the boundaries of the law. Well, licensing
agencies are extremely picky about who they afford licenses to, especially
when it comes to this kind of thing. A company needs to be real, reliable,
transparent, and have proof to back up its claims. Seeing as the Pro Income
system does not qualify for any of those descriptors, you can be sure that
it is not licensed. Folks, there is no trading actually going on here, and
no investments either, per say. This is just a way for these crooks to steal
your money. The Pro Income system is not a real business, not a real trading
app, and you will definitely never make a profit with it.
Pro Income Scam ICO – Unrealistic Profits Ok, we
really do not want to get too far into it here, because it is really not
worth it. However, we do need to say that you will never make any amount of
money with the Pro Income app. They promise that you can make something like
5000% in returns in just 2 days. In other words, they claim that you can
multiply your investment 50 times in just 48 hours. Hmm, well, do you really
think that is possible? Just take a minute to think about it and we are sure
that you will come to the right conclusion. Just in case you do not feel
like putting your thinking cap on today, no, it is not possible, not in the
least, no matter what galaxy you live in!
Pre Income System – Ponzi Scheme! People, the Pro
Income ICO is a Ponzi scheme and pyramid scheme. It has all of the features
of a classic Ponzi scheme and they don’t even try to hide it. They promise
big returns on small investments, but never actually provide you with any
money. No returns ever materialize. At the same time, these criminals
promise affiliate bonuses if you get other people to sign up. While this is
not illegal, not giving people the promised affiliate commissions is
definitely illegal. Nobody has ever gotten a so called affiliate bonus yet,
which is solid proof that the Pro Income program is indeed a scam.
Scammers are good students of human
psychology and know that you love making profits. To “satisfy” your natural
greed they create coins whose value appreciates daily knowing they will have
disciples. Genuine coins are subject to forces of supply and demand to
determine if, how and when their value appreciates or depreciates.
The Pro Income ICO is still a scam and we hope that you will stay away from
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