Kaito's IPO went badly, with 70% of those investing suffering significant losses.

There is a somewhat mystical method to help everyone judge:
1. If they start by saying they want to do RWA (Real World Assets) and focus on infrastructure.
2. If there is no major VC investment.

The basic judgment is fraud. The reasoning is simple: if 1 is true, then 2 must exist. This sector is different from others, there are almost no exceptions.

Additionally, the project team is from India. During this cycle, absolutely do not hold onto the mindset of 'local teams, not worth considering.' This cycle, you must prioritize local projects, especially those with contracts in Alpha.

The logic here is that foreign projects generally have no chance once launched, but local teams will find ways to maximize the value of this shell. Once it hits rock bottom, the only way to extract liquidity is to pump it.