Rising number of projects with suspected fraud, verified by Algorand Inc


I have recently become concerned about the number of projects that show typical fraud characteristics and are verified by Algorand Inc. Some projects suddenly appear, have two-liners as description, want to make a presale very quickly, Team is anonymous, use hosting websites that are used by scammers and so on. Even if verification shouldn’t be seen as a quality feature, the community does. And I wonder if the verification could not be worked up. Or can you disclose how exactly verification is done. Where are the risks? Do you check documents? What does verification actually mean? One only has to look at r/algorand. Questionable projects pop up there every day. I have no idea how r/AlgorandOfficial does it, but they don’t seem to have anything like this. It can’t be that the moderators of r/AlgorandOfficial have a better feeling for verification than a body that offers it.


I second these questions and am interested to hear the answers. The process to obtain and the meaning of this verification should be explicitly defined for the community.

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