BrightCOIN Vows To Fight ICO Scammers

Pretty much everyone is aware that the ICO industry has been under great scrutiny from regulators in many countries and is often viewed as a breeding ground for fraud. We at BrightCOIN are determined to keep scammers off of our platform. We’ll be carefully vetting founders who want to launch their ICOs with BrightCOIN to insure legitimacy. As part of a stringent process, company founders will not only have to produce verifiable personal identification (including both government issued picture ID and passport), but also must be photographically screened with special technology that can detect any photoshopping, searched on international sanctions lists and terrorist watch lists, analyzed with anti-money laundering technology, and carefully scrutinized social media profiles, just to name a few.

Our Founder/CEO Vince Mundy, is insistent about protecting contributors. “The ICO business is booming and entrepreneurs are rushing to cash in. Bad actors are attracted to the idea of fast money and anonymity, making some investors easy marks for con artists. We’re not going to tolerate that behavior on our platform.  Our mission is to simplify and legitimize ICOs and part of that mission is to make sure that investors aren’t cheated and that the companies looking for funding are actually real, with real products, and aren’t just some pie in the sky schemes with nothing but a white paper and a roadmap. It’s analogous to the old days of Silicon Valley when entrepreneurs raised millions of dollars from nothing but a Powerpoint presentation, and those days are definitely gone.”

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