When it comes to intellectual honesty, the cryptocurrency market leaves a lot to be desired. There are so many obvious and direct scams out there, and – sadly – a lot of innocent people lose out on a lot of money because of them. Whether it’s scammers posing as actual cryptocurrency team members on Twitter to get you to send funds to their fake wallets, or an ICO scam that leads to no real coins, there are a ton of bad people out there taking advantage of crypto investors.
An ICO Scam can also be a real product
These aren’t limited to fake wallets and bogus ICO scam operations – there are many legitimate businesses out there, with real products, that have severely misled their investors. Yesterday, we just profiled how Hcash (HSR) had directly copied a bunch of code from Decred (DCR) for basically all of their projects. Hcash actually has software and blockchain technology that’s fully functioning, but their work is far from original – it’s stolen, in fact.
But that “stolen” material is actually open-source, so there’s nothing really illegal about it, I guess. Directly copying and pasting something to make financial profit while not giving any credit or reference to the source, however, is just morally wrong.
Worse than that, it’s a bad investment. Cryptocurrency is all about investing in industry-changing technology that has a lot of potential for mass adoption. When code is ripped off of an actual unique company – that’s not an investment in anything real.
A lot of whitepapers are plagiarized. Here’s how you can check.
A lot of ICO scam jobs copy code – as well as non-code text – and put them into their whitepapers. It seems like a super risky thing to do, especially since the cryptocurrency social media world is very good at researching and finding this stuff out. TRON (TRX) famously got called out for plagiarizing all the important parts of their whitepaper.
Luckily, thanks to Invictus Capital, there is now a way for anyone to quickly run an Artificial Intelligence (AI) program that has access to over 1,200 whitepapers and see whether any parts of it were plagiarized from other sources. The program is called TITAN AI, and you can use it here.
You just have to give them your email address if you want to use the AI-based screener. Now, before you invest in a shady-looking ICO or token sale, you can see if their work is 100% authentic.
I bet a lot of Tron (TRX) investors wish they had something like this a few months ago.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.