TokenGrade audits upcoming ICOs; ScamWatch rewards users for reporting ICO fraud
SANTA MONICA, Calif.–(BUSINESS WIRE)–June 4, 2018–
ICO Watchdog (www.icowatchdog.com), the leading authority in the cryptocurrency market, today announced the launch of two new products to its suite of news, analysis and verification tools.
TokenGrade is an audit service that allows token creators to submit their whitepaper plans and smart contract source code for inspection by ICO Watchdog’s team of crypto experts. ScamWatch is a chatbot feature that rewards ICO Watchdog’s more than 50,000 community members for reporting fraudulent initial coin offerings (ICOs).
Both products further ICO Watchdog’s mission of helping the cryptocurrency community make smarter decisions and legitimizing the space to venture capitalists, investors and the average internet user. The new additions join the company’s existing products, a chatbot that notifies users of key cryptocurrency news and a premium analysis service that provides traders with in-depth insight into the latest tokens and trends. To date, ICO Watchdog has sent 9.8 million alerts since its October 2017 launch, and the company now sends 200,000 alerts daily.
“TokenGrade and ScamWatch are two major steps forward as we continue to legitimize the crypto space, which many people still find complex and opaque,” said ICO Watchdog founder and CEO Shaun Newsum.
Launched in October 2017 by L.A. startup studio Science Inc., ICO Watchdog is a financial information service and trusted community for cryptocurrency and ICO investors. Its chatbot, available for Slack, Facebook Messenger, Discord and Telegram, delivers personalized alerts to its 20,000 monthly users when new ICOs begin trading and when there’s a spike in price or volume for the tokens of their choice. ICO Watchdog’s premium service, CryptoTrends, adds advanced price forecasts and trends analysis to the chat interface.
TokenGrade instills trust in ICOs on both sides of the investing equation. By submitting their coins for inspection, token creators will be alerted to any security and transparency issues in their plans — before presenting to investors or launching their ICO. In obtaining the TokenGrade seal of approval, ICO creators can signal to the entire crypto community that their coins are up to snuff.
ScamWatch is a crowdsourced investigative body that helps traders and investors root out bad actors in the crypto ecosystem. Increasingly, crypto investors are at risk of falling victim to “exit scams,” in which a fraudster launches an ICO with the intention of stealing investors’ money instead of building a company. By reporting fraudulent activity to ScamWatch, community members will be rewarded with a bounty of DOG coins, a new token created by ICO Watchdog. Already, users are reporting an average of 50 scams per week through the chatbot.
“Blockchains, along with these new tokenized economies, have incredible potential to change the way we work, play and communicate with one another — but first, people need to be able to trust the tokens they’re investing in,” Newsum said.
About ICO Watchdog
ICO Watchdog is the leading authority in the cryptocurrency market. Through our news alerts, auditing service and trend reports, our trusted community brings a new level of transparency to the crypto world. Together, we’re helping ICO investors make smarter decisions and building a healthier, more sustainable cryptocurrency ecosystem. For more information, visit https://icowatchdog.com.