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ICO Bench, one of the biggest ICO listing site has been caught with multiple abuses. Letâs start from smallest one.
I donât recommend anyone having any business with the ICOÂ Bench.
1. Overpriced useless promotional packages
Most expensive promotion package on ICO Bench is âPremium Hitâ that costs 35 BTC and last 45 days. If you count highest price per day, âPremium Deluxeâ last only 7 days and costs 10Â BTC.
So what do you get for such high price? Not much. Iâve heard from several ICOs that the money they paid to ICO Bench were practically wasted. Yes you get some traffic, but compared to the amount itâs the most expensive traffic in crypto world and the quality is just average.
2. âFreeâ ICOÂ listing
While ICO Bench claim to offer ICO listing, thatâs a total lie. Well technically they do offer free listing, but youâll have to wait for months to get listed and by that time your ICO sale will be probably already over.
3. Terrible customer support
In best cases you get a reply after 1â2 weeks, but if ICO Bench donât find your message to be interested they will not reply at all. Writing on their social media also get no response. It seems even though they make huge amount of money only 1 person is handling customer support.
For example things like KYC procedure of ICO founders take huge amount of time, even if you paid for âpremium listingâ.
4. No one is checking ICO Expert application
Like with the customer support no one bothers to check Expert applications. People have been waiting for months with no results. I have been checking the list of Expert and in past few months and there hasnât been any new faces on the list. It seems that no one is approving new Expert applications.
5. False ratings by ICOÂ Bench
ICO Benchâs own ICO rating bot âBenchyâ will give rating according to which promotional package you bought. The more you paid the better rating you will have and if you only paid cheapest fee for listing, youâre rating will be low no matter how good your ICOÂ is.
6. False ratings by ICOÂ Experts
While accepting payment for rating is forbidden according to the terms, almost every expert does that and ICOs are happy to pay for it.
7. No company, no contact information
There is no legal information about ICO Bench. No company info, no physical address and no names of people behind the project.
If you search ICO Bench on Linkedin, you may discover few employees who all work from Russia, therefore it seems that ICO Bench is a Russian set up, though where it is legally registered (or if has been registered at all) is unknown.
It sure seems that ICO Bench does everything to hide the information of itâs founders, probably because of the reasons mentioned above.
Do you know any other dirty secrets of ICO Bench? Please share them in comment section!
Beware of ICO Bench! was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
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