How Easy is It to Run Scams on Kickstarter?

From nanalyze, “We’ve written before about crowdfunding and warned our readers about how these platforms should be treated with a great deal of caution because of scams and people with no business acumen. When you crowdfund a business for equity, the only way you are getting paid back (if ever) is through a liquidity event and nothing guarantees that will take place. When you crowdfund a product or project, nothing guarantees that the product or project will be delivered on time or ever.

We’re simply saying, that the Kickstarter platform seems like the perfect place to operate a scam on.

The takeaway here is that it’s surprisingly easy to run a scam on Kickstarter if you have half a brain, some money to spend on building a prototype, a video camera, a website, and a mate that works at Infosys with a bank account in the U.S. There’s actually a website called kickscammed.com which tracks $2.5 million in crowdfunding scams to-date.”

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