New people of cryptospace...BEWARE ICO scams are happening and becoming a common trend now.
Monaco. Many of you have probably seen this add on YouTube or online. STAY away. There are a couple threads on twitter with loads of comments and explanations to why this is a Scam. I will Point out the most Obvious.
Before I even did any research I noticed right away it had dropped on the 18 may 2017, with little to no warning. Which is unusual for ICOs. Many unfortunate people might think it is legit by the amount of effort put in their website to look nice. But it's all a show just like North Korea. It's 2017, websites like this are not hard to make. Always do research first people. Before you put your money anywhere. Do your research on at least 3 different credible sources.
The leadership is shady. They don't give much details in whats going on with project and the staffs
ICOindex's quote...This is a quote from ICOindex
"Hello everyone, we have been contacted by Virginia Lam who is part of Monaco ICO team. They were interested in listing Monaco ICO at http://icoindex.com/.
We never heard about the project before so we told them they will first need to go through our verification process before being listed at ICOindex.
Their response was negative and they offered us "$0.05 for listing".
We quickly found out why they refused to get verified after reading through this Bitcointalk thread and watching this video from Boxmining youtube channel." GO CHECK OUT HIS VIDEO.
And this 10% cash back? WTF ya right sounds to good to be true.
So this is all mass speculation. They could be real or they could be scam. To me scam is written all over it. To other they think Monaco had a really bad launch idea and created a space where they didn't even have time to be vetted by the community.
EVEN if this is not a scam...the lack of "proof of work" and current information from developers means we should not buy...easy as that, this is unprofessional and any investor with half a brain in the stock market wants audits and/or credible updates and info. If we as a society don't want all these regulations then we all need to grow a brain and make sure as a community that these ICOs are not fraudulated upon us. SO I'm very proud of the community from reddit, youtube and bitcointalk forum spreading this. And I want everyone to know that we need to stand together and not rely on a system.