When it comes to cryptocurrency and many other online businesses, recognizing a fraud all at once can be difficult. The scammers know what users need, and with that, they will use it to trap the ignorant ones.
Since ICO is still new, we have to accept the fact that recognizing the most profitable ones is a daunting task. We have to run background checks, which mean that it could take you days to figure out a site’s authenticity.
Today, we are going to enlighten both investors and traders on an ICO that you need to evade like a plague: the eHalal.io.
At first, we thought that it could have been an excellent place to invest; however, we were surprised to find out that the platform raises many red flags, which you may never see once you get to the site’s homepage.
Why should you run background checks on websites?
As mentioned earlier, recognizing swindles is an activity that needs a person with a keen eye, which we believe we own, to notice them.
As an investor, do a quick background on the website, by checking various sites, reviews, and social media platforms available on the internet. You will get more answers than questions when you do this.
Remember as an investor, you require a sharp eye, like that of an eagle, to know when to detect a doubtful clause or information that seem inaccurate.
Why do we know that eHalal.io is not “Halal”?
If you are wondering what “Halal” means, then here is the meaning: It is an Arabic word for permissible. Muslims use sharia law to know what “halal” and “haram” is (meaning not permissible).
The people behind the website, who we confidently refer to as scammers, invented the site in the quest to attract Muslims into the cryptocurrency arena, especially those that live in Muslim nations. Additionally, they claim that the platform is to assist the Muslim brothers and sisters in resource planning and supply chain management. In their Whitepaper, they mentioned they are following Halal standards set by OIC and the Standards and Metrology Institute for Islamic countries. There wasn’t any details of what are the standards and if they were certified by them.
Any investor, especially those of the Muslim descent, is prone to becoming victims to the site. The platform, which is part of the Ethereum blockchain, also has a start date on June 15 and scheduled to end on September 15, 2018. It is not stated what dates are they? Airdrop, Private Sale, Pre-ICO or ICO?
After hanging around the platform, which should be the first thing you do before joining any ICO, we found out eight red flags that we are going to highlight in this article.
The website seems built in hurry
By the way, a look at the site, you will be happy that you joined a profitable platform. However, it is as if the owners built it hurriedly. They did not have time to develop a comprehensive one that a real owner would do. The navigation is really poor. Most of the links were not hyperlinked.
No internet reviews
Owners know that they have to be trustworthy to prospects. One way to do that is to ask reviewers to do a review of your website, even if it costs you some money. There are no reviews on eHalal.io.
Try by searching, “eHalal.io.” No reputable website talks about their services, or even about the ICO that is currently taking place. You will not also find a positive comment about them on discussion quorums. A quick search on Etherscan.io reveals only 16 token holders addreseses so far.
We all know that content is the heartbeat of every site. Words make you understand complicated terms that you would not get if they were not there. When you first get into eHalal, you will love how informative the FAQ section is.
However, when you turn to the whitepaper, it contains the same information. It is just as if the copywriter copy pasted everything. Besides, the whitepaper is not as descriptive in explaining the purpose of the token.
Links do not function as intended
You need to carry enough research to get such red flags. Links within a website or blog should lead you to another part of the site or external content related to it. Nevertheless, that is not the case here. By clicking on various links, they will lead you to unknown pages.
For instance, when you click on the Facebook link to their page, it does not work. Instead, you will remain on the same page. Additionally, the ‘recommended’ tab on the top page of the site leads you to Asean Mobile Applications, which means that they have duplicated their website from somewhere.
Little information about the ICO
Their Twitter homepage consists of tweets from different pages related to the Islamic movement. Nonetheless, a look further into their profile: there is less information about the ICO, which also seems to be getting less publicity.
When you search on different search engines, you will not find anything to do with it. If there is, then the information about it is inadequate.
Background check on media
One of the menus highlighted on the homepage includes a “media” page. You will find a long list of logos that belong to famous media houses around the globe once you click on it. Regardless, none of their interviews is available in any of these channels.
If you do a background check yourself especially on YouTube, you will find that no page or channel highlights the ICO in any way.
One of the critical factors when building a site is to consider stable security. Users need to feel a sense of security once they are on your platform. After clicking on the https://eHalal.cloud, you will discover that the link opens and a “danger” warning appears.
Your browser will prompt you to “go back to safety to prevent malware from attacking your PC,” which you should do as quickly as possible.
A logo speaks volumes about an organization. Professionals know the importance of this, and it is the exact reason that the platform is questionable. Once you click on the homepage, you will find a different logo compared to the one on their Twitter page and Medium account.
You will also notice that they refer to the ICO as “eHalal Network” and a few instances where they would call it “eHalal.io.
From the above findings, we conclude that, maybe, the owners tried to duplicate another organization’s concept.
Moreover they have stated they have applied for Binance when they only have only 16 token holders as per their Etherscan.io search.
Investors should avoid using the platform to prevent losing money. By the way, notice that the deal is too enticing, which is something that raises many questions. Do not think that because they have a name related to Halal, they are trustworthy.