How to identify fraudulent ICOs and stay safe?

1. Research: Do thorough background research on the ICO. Check their website and see how long they have been working on the project, look at the people behind it, read the white paper to understand their business model, and read the team’s bios to ensure they’re qualified to handle a potential venture.

2. Avoid over-hyped projects: Projects which are touted as a “sure” thing and make bold promises that simply can’t be justified should be avoided.

3. Scrutinize the team’s experience: Make sure the team behind the project has relevant experience in blockchain technology, cryptocurrency or the industry the project intends to disrupt.

4. Examine the smart contract: If there is one available, take a look at the smart contract on the project’s Github page and make sure it’s been audited by an experienced developer.

5. Watch out for red flags: Be wary of projects that require large amounts of ETH up front, guarantee outrageous returns, ask for personal information such as passport scans, or offer no product or service.

6. Watch out for Copycats: Be aware of copycat ICOs that have similar characteristics. Check the whitepaper and carefully compare the design and structure of the ICOs you’re looking at.

7. Use reliable sources: Stick to trusted media websites and forums to read up on the ICO and related news.

8. Don’t invest more than you can afford to lose: Never invest more money than you can afford to lose and only invest what you are willing to part with.