Bitcoin Forum

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

I think no ico scammer has been brought to justice uptil now but many cointries are busy in setting rules and regulations where only legit ones will be allowed to raise funds and the scammers will be caught and punished.

How to punish them? they create fake data ranging from the ICO structure to the team that developed the project. hard to find those who create fake ico projects.

I did not hear the scammers being punished. Probably it is for some reason impossible. Although byloby beautifully, there are fewer mossins.

I think this would be a good idea.
Because if there is punishment for fake ICO or ICO scams
those involved will be scared to do such and as a result of this, it
would minimise the amount of scam or fake ICO we see.

Unfortunately, there is impunity, so Scam so many and they are nothing to fear . Take it as a bad experience and continue to work with cryptocurrency and projects

What punishment do you want to give those that scam you when they have already gone away with your money and besides you don't know them, they are anonymous. How do you fight a person you don't know. You should just be careful whenever you want to invest, that's my advice.

There is no clear answer to this question. If you focus on them, you probably should buy a young and promising coin.

Currently, there is no law limiting these ICO items.
Therefore, this is also a worrying problem, so many ICO projects are hype or fraud.

Such position looks like quite logic and really right. I think that it will be very useful for cryptocurrency market's development and being clear for each side.

There are no scammers if we dont get scam! This statement will really comes first in my mind but how do we detect that ICO or Bounty is just a scam? As my self ive been in this forum for a quite some time but before there are only few that is scam project that could be easily to detect but now those scammers tend to be legit at first but later on if they saw what they collected  they tend to run away bringing our money.!

Fraudulent ICO projects are prosecuted under the law under the criminal code of the Russian Federation, the penalty is up to 20 years in prison.

I suppose that scam will be always here and we could not be able to solve this really actual problem. I suggest to be more careful here and to protect yourself from such troulbles with every methodes that you even now only.

Tragically, these fraudsters are not subject to any sanctions and punishments, because the current market does not have any legal and departmental supervision, here is like a vegetable market!

Plexcoin has an interesting case going on. just google it and you see some actions going on in Canada and USA. founder was/is? in jail ..

It is regrettable that there is currently no means of restricting these ICO.
Because so far only the U.S. SEC has begun the arrest of fraudulent ICO projects.

Presently there are no known sanctions and penalties for fraudulent ICO's due to the fact that the industry is highly unregulated at the moment. So it's very easy for fraudsters to get away with almost anything now. When the news about Centra being a scam hit the space and that the devs had been arrested, it brought some hope for sanity in the space. But many scam ICO's go unpunished.

Yes, many countries have started to draft regulations on ICOs. Hopefully this will help lessen scams. In addition to that, a project called Menlo One is launching its ICO listing marketplace within the year also to help weed out scams and provide legit projects the funds they need. This is their site and whitepaper: https://www.menlo.one/

Unfortunately we do not have right now, and of course, we could have one that will and can monitor this scam Ico, because they are vain in our industry and they should be stopped once and for all.

good news, I like and support it. hopefully this ICO scam will decrease. and if it is true that all countries are now drafting regulations for the ICO, I am sure there will be a positive impact on Crypto.

I think for now we just can punish them with social punishment, it simply because many of team project is a fake person, and if they are real person its so difficult to gathering evidances to sue them

Yes the protection to investors are really low, Even bitconnect CEO is seems like not getting on jail. We do need a regulation to protect people who invest in cryptocurrency. I believe ETF will be approved by SEC. approvement fro SEC means that they do care and concern with crpyotocurrency and trying to protect the investors from a bubble.

Just do a carefully research before investing or even participating in bounty campaign of any ICOs. The easiest part is do a research about their team. But ICO now is not governed by the law, it's hard to Punishment them.

I had been involved in my previous signature bounty campaign wherein we had finished the campaign for more than 2 months and the bounty manager had just informed it's not his fault and it's the team member's of such ICO's fault since they had left the bounty hunters out of thin air. Therefore, prior to these scam ICO's being accepted by the bitcointalk forum, they should have a contract signing that these ICO should be liable for any shortcomings and should have to pay the bounty hunters token they deserved to have just to be fair since bounty hunters had worked for it.

It is no different from any other criminal activity. If the get the money and run, it is a fraud and will be prosecuted. If it is just a bad team and poor business... there are no laws against that I am afraid.

Agree with you.  Maybe they should have to deposit some bitcoin or altcoin to the forum moderator before they can launch their ICOs on this forum.

Set any net to catch them, they will glide through it. The system is wired in such a way they the best way to be free from such sad takes is to conduct a background check on any potential ICO one intends to join.

   Before making accusations people should stop and think. Not every failed
ICO is a scam, some of them just didn't have knowledge for realization of their
idea.
   I don't blame them, they had idea but they didn't have enough power to make
it real. Before anyone make any investment should check ICO first. Don't call it
a scam if you didn't earn money in two days
   People doesn't know what is ICO and what is scam, people should learn a lot
before investing money.

I think government is realizing the dangerous of ico for their citizens and they will be putting in ico regulation of some kind in the near future. until then you have to just wait and stay away if you feel it's too risky for you.

It is better to prevent than punish. How can we punish someone in case it is really hard to find these people sometimes, using their fake datum? It would be better to make some control group on this forum that will professionally check the project before the ICO start. And of course try to be more attentive and careful before investing somewhere.

They should get what a criminals gets, jail time and give the money back from its investors. We saw Bernie M. did and he was sentence 150 years for his act. Government's shouldn't be lenient and the full hands of the law should be served.

This is what almost all big country are started to regulate the laws against the ICO scams, That is what all government are fearing of the fraud and scam of all ICO are doing it. This is the reason why almost most of the country have made illegal to use crypto currency and they have given clear guidance of after regulating it they will start the crypto currency process.

That's the reason now most ICO project having a KYC, well, as of now scammers are not punishable because of being anonymous of the team. If you have noticed their team information not all are revealed to their whitepaper. So, it is our responsibility to choose and make it sure not scam project.

There is no penalty for now. But there should be to promote the  coin for it to have value

Click on today's not worked out the legal side of this moment. No one took responsibility for this type of crime, because at the state level, there was no responsibility for such a crime.

I think these projects are called scams because you were led to believe that they will be successful. But i think lies in the notion that whenever you invest, you will reap something in return. Investing has relative risks and rewards. Investing, even in a normal business does not guarantee you assured profits. The greater the risk, the greater the reward. You can only hope to recover your investment and earn a little profit, but you do not expect that everytime you invest, there will be a profit. There are times that you will encounter some losses.

do you have any info about which country have started to draft regulations on ICOs?
do you think that we can have something before 2020?

Till now, there is no rules and regulations to punish ICO scammers. But really they need to punished because they fool around us. many people associated with scam bounty and all are suffer. According to me, there are some fixed amount punishment for all scammers like fine of heavy amount.

You can't punish scammers, unless you supervise the issuance of ICOs and let them pay a deposit, otherwise they can't be supervised. The cryptocurrency is anonymized and therefore cannot be regulated.

     I think it's very difficult to give sanctions and penalties to these people since we are all anonymous here in crypto industry and no government bodies controlling on us ,though the highest penalty that possible to be impose by the Bitcointalk forum is a total ban of the account of the manager or a lower penalty of negative trust .

That's right, this is why to ask about the legal support of ico will be very helpful. I guess a lot of people are smart i have seen a lot of scam icos have revealed its identity caused there are some ico scam hunters were doing their job very well. I know there was another scam project called phantom.

Everything is fake probably even their identities. So how could anyone punish them or even catch them? I don't there has been a case that a scam ico has been punished.

We are already seeing it now gradually where some countries do already make strict implementations or laws that do prohibits about these ICO scams or simply a protection to its citizens itself.
Punishment cant really be put up yet these scammers cant be easily caught out due to almost impossible tracing out transactions. This is why we do see this market being flooded of by those scam projects because they can still move freely.

Its about time to put things in order and legally, there are a lot of scams out there. Someone must create a governing body to regulate the ICOs.

Yes, ICO scams should be punished but I don't think there's a way or a law for that. Coz anyone can start an ICO as long as they can build proper marketing strategy and publicity. Let's just accept that investing in ICO should be done with a high risk. That's why we had this "invest what you can afford to lose" coz every ICO, even with a good ICO rating has a possibilies of turning into scam. 😉

What kind of punishment do you mean? and how to punish those who run away and run away somewhere. the question is, scammers always use false data including their profiles. so do you think?

Sadly a lot of these scams are in countries that don't have an regulations so its pretty easy for most scammers to get away without any sort of punishment.

Penalty: estafa. But still depends on country and if they ever arrested.

Actually there is way for it but its too much complicated and lengthy process, but before you can process this you need to know actual teams name and address to take legal action against them.

This year there are lots of ICO's proven that is a scam and some of the most trusted bounty manager get tagged because of them but I never saw or hear a news that those fraud ICO's have caught even 1 of them.

There are lots of victim's including those trusted bounty managers who also dont have any idea that its a scam, I think this will is a lesson for all of us We need to choose a right ICO to invest with also a lesson for those bounty manager to be more strict in choosing what project to promote, we cant blame anyone.

Honestly, there's nothing we can do. However, I think if someone would really like to pursue there's a possibility that those who are behind scam ICOs can go to jail for scamming other people's money. This will cost a lot of money, time and effort, since you will need to file a case and also to find all the people who are behind it.

It depends on the country they "registered" according to their whitepaper but I doubt they really exist in that country, and sadly there's no way to track them. They planned it and saw whats coming before crowdfunding started.

This is hard. It may take a long time for the legal system to be improved, security enhanced platforms, and more demanding and demanding ICO issues. I believe this situation will be better

Those scammers cames from several different countries, i think its impossible to track all of them and punish them.. Especially when they came from a country which didn't had a strict rule about ICO. I think the best punishment is to block all of their activities and account in this forum in they have one. And we need a ICO Police maybe, to spot a bounty that promoting a scam ICO.

Punishment or some sort of stuff won't be implemented before the regulation of the cryptocurrency. It comes after. So our best bet in order to prevent scams and frauds would be having a regulating body.

I Wish those scammers will be punishable by law. International sanction will declare there status behind bars for a long time and if billions was scam might as well kill them to death. Because they destroying the life of other people.

to date I have never heard that the scammer was punished. the problem is that the scammer is getting more and more. so it really makes a lot of people worry about things like this should be followed up. so as not to fret.

They fake everything to scam us. So it is very difficult for us to bring light and subject them to the punishment of the law. Sophisticated data is falsified in detail, people are not real in this life. I hope God will punish them

many fraudsters in the companies holding ICO. However, as long as there is no system to punish them, I offer you a link to the Bitcoinstall, which was made especially for you, the Lord! I happened to find it on the internet, I use it regularly and advise you everything.
https://bitcointalk.org/index.php?topic=4687372.0

Yeah that's true...investors should also be upgraded and never invest in a project that has no ICO reviews from those ICO rating sites. That was I noticed those with no reviews are higher chances of a scam project. Better to research first on yourself before investing. It's difficult to punish a scammer in crypto and no one had been jailed.

 We do need a regulation to protect people who invest in cryptocurrency. I think any ico that don't have product no one should invest in them this will reduce ico scam

I believe that it depends on what country they raised their ICO or where their company is located. Their penalties and charges will be decided base on the law of that country or if those scammers where captured, they will be transferred to their own country for a proper penalties and charges because they are still covered with human rights policy somehow. For me, those scammers should be in jail for the rest of their lives because they are only tainting the image on cryptocurrency all over the world.

I read about this some information. And I know that diferent little start-up companies tried to implement this idea. But unfortunately it wasn't success. I hope that somebode create a good way to punish ICO scammers.

I think as long as a legal action is not done, what can we do as a community? I don't know. Lots of people open topics about ICO scams but there are lots of scam ones.

Yes, maybe they should deposit bitcoin or altcoin to the forum moderator before they can launch
their ICO on this forum.

I really don't have any idea at all here.

You see, people who decided to go out of their comfort zone usually ends up the most exciting of them all!

As per the penalty, i doub;t they should be moving around and waiting for this to happen.

That is the problem we are facing now. Currently there are other ICOs trying to solve that problem. I believe in the next 5 years, SCAM ICOs will not be no more. Don't give up on cryptos yet.

 if they allow US residents to participate, this gives US law jurisdiction and misleading investors or wire fraud is a possibility, although unlikely and i doubt we will see more than 1-2 cases over the coming 1-2 yrs

a scam ico will certainly be very detrimental to investors and bounty hunters because they will lose their money and time. but we can't do anything. all we can do is avoid the ico that scam by choosing a good ico to follow. of course, that will help us to be able to avoid the scam ico.

Yeah i hope some countries to get serious about this scam new investors are leaving because of this fraudulent scams

we know that we cannot punish the perpetrators of scams because we don't know their identity. therefore we must be able to choose the good ico to follow, so we can also get the satisfactory results by choosing a good ico we will also be avoided from the scam ico.

The penalty for fraudulent ICO projects is possible only in the United States. Not in our environment. Absolutely no sanctions against fraudulent ICO impossible. On the part of the developers, their main responsibility towards investors is to distribute tokens to investors. And the fact that these tokens are not traded anywhere and are worth nothing, that the "white paper" is not executed, these are the risks of the investors themselves.

I think when you could identify who the people behind the scams.
and to think where country are there origins.
you could file a case against them on that county.
and i guess its up to the country's law or government on how would they take action
but im not so sure. im basing some of things that i have seen on tv.

People have been taking advantage of lack of regulations for crypto and ripping people of their hard earned money in disguise of ICO but I've heard someone who's much more experienced than I do talk about some guys that got jailed because of ICO scam but I can't recollect the exact fact about which project it is but I'm very sure those guys got nabbed by America and they're are serving jail term as we speak

Its very good thing.
First i can advice make some pulic list of scammer developers with names and photos.
Then any who want invest to the ico look name of developers on this list and if they on the list mark this project red.
Of cource after this scammers use fake developers list, need to contact with him and ask about project. Mostly they say what first time hear abut it.

Honestly, I have experienced joining bounties of some scam ICOs. They bring bad impacts for many sectors of crypto wolrd. Bounty hunters cannot get their rewards, investors lost their funds and become less trust in other ICOs, and tarnish the good name of crypto forum. However they should get punishment. They must be jailed and give compensation to the victims. 

In my such people were not, because all such projects use fake documents with addresses and photos ...

How do you punish ICO? Impossible unless the ICO project is regulated. Otherwise, the penalty for the ICO project cannot be achieved. Now ICO is a loophole that hopes to be regulated in the future.

Many investors has lose money because of the scam icos and we are not having any penalties for them. I think ico scammers should be punish by imprisonment and that should be up-to ten years.  However,  governments can only support this views if cryptocurrencies is taxable!

I agree that the owner of scam ICO should be punished but still, there are no regulations to regulate this market there are many ICO which scammed people with there hard earned money and roaming freely regulation is required for punishing the scam ICO.

It's not possible to punish them, it will depends on the country if their people who joined their project will file a complaint that they are scammers/theft. This is the reason why some projects are avoiding some country who has very strict on their law, it's a strategy.

But we see it is hard to punish the scammers that creating a scam project because of their disguise. Some of  the scam  ICO the team are having a fake account and their platforms are only copied in other projects.

How can they be caught and even more so, be punished when there is not a single body directly overseeing the cryptocurrency? This is one of the dangers of decentralization and free market.

It seems to me that for fraudulent ico companies are punished only by members of Bounty company and bounty managers, For disseminating information, because real villains are not caught. And nobody cares that they can also be victims of scammers. The color of the account is not fair. In such cases.

yes it is a high risk in cryptocurrency that we face, we must be careful in choosing the projects that we will follow and should I think possible, bitcointalk moderators should tighten the posting of new threads 8)

It is hard for them to be punished, seeing that most of them do not even get caught in the first place, and even go ahead to scam people again. It would be best if a regulatory body was set up for ICOs. At least with that, Scam ICOs could be easily detected and the creators could be punished. Maybe place a ban on them and every would be cautious to do any transaction with them.

How can you punish scammers if investors give them their money? In fact, there have been cases where organizers of fraudulent projects were put behind bars.

Since one of the main signs of the crypto currency is decentralization, it's very difficult to find scammers!
This is a very negative trend because scammers becomes more and more!

Yup, this should be punishable, scammers can easily get away with scams like this, be there should be a punishment for scams like this, it's a big waste of time, and a waste of money as well, I hate to see ICOs getting away with this kind of agenda, there should be a punishment for this.

You cannot punish them at this time. Because of anonymous. Almost of scam ICOs do not reveal the team or fake teams. Hope investors will experience from this.

I agree because before participating in any ICOs, they always have a Terms and Conditions which include all of the possible situation with their project, and we had to accept them.

Indeed, ICO tricks ought to be rebuffed however I don't believe there's a way or a law for that. Coz anybody can begin an ICO as long as they can manufacture legitimate showcasing system and exposure. Allows simply acknowledge that putting resources into ICO ought to be finished with a high hazard. That is the reason we had this "contribute what you can bear to lose" coz each ICO, even with a decent ICO rating has a possibilies of transforming into trick. 😉

Punishment is under article "Fraud". If the company conducts ICO, attracting other people's money and does not use them for the development of the project, such actions can be qualified as fraud. But there is a need to find and prove...

I determine epitomizing at once we decent castigate them with social castigating, it only by reason of distinct of body plan is a amiss man, and whether they are corporeal person its so exacting to throng evidances to sue them

There is no punishment for fraudulent ICO projects, but for the fraud itself. If this fact is proved, the punishment will be under the criminal code.

Well i believe that half of them had fake contacts and locations and dont know if they will ever return the money back to investors. Hard to see but its so sad that hard earned money you cant return.

ico scamer is indeed very annoying and has caused a decrease trust in crypto, but it is very difficult to punish ico perpetrators, because the crypto world is very anonymous so it is very difficult to track, hopefully in the future, there is a solution to this problem

That's simply because it's hard to catch them and most of them are faking their identity anyway it's like when peolpe are scamming through some kind of market place, however if the amount that got scammed is quite huge the police will probably take an action upon the report
but afaik when it comes to ico project if they dont comply with regulation they will be closed down immediately, only offshore ico that's usually turn into scam.

There are laws which can be applied to ico scams. You may file estafa charges in your jurisdiction as long as the entity is within the powers of it. Otherwise good luck with filing those cases. They cannot be punished unless they are charged with cases.

hay the bounty hunter. be careful of invest allcoint .. where is the biggest year where many scams and they are not responsible for what has been done. we feel bounty hunter where we cannot enjoy the results of our labor.I hope that there will be a legal umbrella that can cover ico's investment. because now a lot of scams or fraud

sanctions for it, of course, many will even heavy. but to be able to keep track of such things is not an easy matter. able to catch or even know the course is already a remarkable thing. especially if to give sanctions would certainly be an achievement. of course, clear this form of crime and fraud. This could simply be brought to prison if processed legally.

I am not sure if we can do that so easily. First of all when an ICO comes out over the internet then we just see the superficial things about it and nothing else. If you see the ICO then they may or may not publish the address of their physical office, who knows that may not even exists out there. If there is no physical info then how would you go for filing the case? Just based on the website? How could anyone file complaints if thats the case. I guess it could be hard to digest if anything like that happens and if we get scammed. We have to move one! This is the way crypto works .. . .

It seems to me that scammers are getting bigger every day. Unfortunately, it's probably impossible to completely filter them, and not every manager will bother with this. And they will not punish them soon. It is very difficult to catch them. Therefore, everyone is often deceived.

basically, we can't punish the perpetrators of scam because we don't know who they are. certanly, we have to avoid the scam ico by choosing a good ico. lots of ico legit that can still be followed. it all depends on how we can choose ico well. before choosing an ico it would be better if we understand the project it first.

hopefully, with the tightened ICO regulations at this time, it can reduce the number of fraudulent ICOs, so that more and more investors are interested in the ICO and many more trustworthy projects

Maybe Ethereum network can have a feature to freeze the address of scammers. Or at least the exchange that receive coins from scammer addresses must be freeze. Later if the detail indentity of scammers can be found in exchange database, then we can sue the scammer.

The idea is very much good. As scammers are punished, others will be discouraged to cheat people in the name of ICO. I think regulations is best way to stop scams. Another way is punishment, jail and fine. If scammers are jailed or fined, it will discourage others to defraud people in the name of ICO and it will help prevent scams in ICO.

The punishment for fraud must be inevitable and harsh. But the most important thing is to prove that a person committed fraud. The failure of ISO is not yet proof of fraud. The most important facet in the crypto industry should be the body that investigates and punishes.

Nothing. They are free to scam people. Nobody will arrest them because in many cases we do not know who are the scammers. It is easy to scam in crypto because no regulations, you dont need to provide your real name anywhere.

That is why the market is more dangerous than ever, in my country, cryptocurrency is not protected by the state, if I have been cheated in this market, the law will not protect me.

There is no way to punish scammers. if they don't disclose their faces and private information, you won't find them, but in case of titanium, Envion and Centra, owners diclosed info and now some of them are imprisoned.

i think that soemthing should be done with the scammers but i am jot sure what exactly and i just hope that theynwill be punished

well if there is no way to punish them and make them stop then we should learn how to avoid them and do not let them steal our money

In my opinion, it is necessary to create a structural division of specialists who will check the projects before they are released for sale, and you can also create a specialized service that will already have validated projects, after these actions I think fraud will be less

You can not do much against the whole ico scam.
I am also in favor of punishing such people.
But how you can do that, i do not know, unfortunately.

Bitcointalk is not the best place to punish people after them scamming people because if someone plans to scam us, they will not use their real identity so how is bitcoin going to be responsible in dealing with them. The best that can be done is that all icos should be regulated by the government to deal with the people who scam us.

Since crypto is decentralize which also means there will not be any government intervention as of now. So i does not think there will be a punishment that will be lift on scam ICO. I am also interested to know if there is.

As far as I know, there is no punishment at the international level. But if a project is based in a certain country, it can be tried for fraud.

In some countries, such as the United States, there are government organizations such as the SEC, which are engaged in tracking all types of currency transactions. For each category, these organizations create their own rules and regulations and punish, including fraud in the field of cryptocurrency (ICO).

At the moment, the topic of punishment for the ICO scam is very rare. In almost all cases, everything remains with impunity. If Iko scum, it is unlikely that someone will return something to you.

It is highly regrettable that non of those scamming ICOs has been brought to book or punished this will surely encourage other newer ICOs to capitalize on non regulatory body of ICOs to scam more investors, I think the idea of knowing the country of origin of ICOs is very important so as to track or trace them.

More of them will go unpunished! Only the biggest retarded fools that do grab and go will be punished!
If ICO scammers put even a little bit of thought how to heat the system, they will always go away with it, I think!

The only way the team or the developers behind scam ICOs can be sanctioned is if their true identities were revealed before the incidence. So many of them use fake identities and that is why you may not be able to pin them down. Also, this is what some governments have been clamouring for. Had it been the crypto space is regulated, then the scammers can easily be apprehended, but in this case, i do not know how possible it is.

I do not despair when I encounter such a problem and draw certain conclusions.  It is better to analyze projects.  I consider this an acquired experience. Let's see what happens with Shopin.

Sanctions for scammers should be already happening in some way, there are simply too many of them in the market, and there is money involved, I think it is a matter of getting more knowledgeable about avoiding them

SEC would apply penalties, but you know, some of team members have fake profiles, so it is tricky. Bounty hunters can punish scammers by negatively promotion. In some cases it affects scammers

In the digital era only a few people / scammers / hackers are being punished by the laws of the countries in where they are apprehended, and such laws are very few and scarce. The same goes for ICO and bounty scams as there are no laws that can apprehend the people who commit it.

As far as I know, it is currently impossible to punish fraudulent ICO. Although in the near future I think there will be such laws.

I don't see any punishment suitable that you can give any scam ICOs than to ignore them. How do you punish someone untraceable who gob away with your money?

Is it possible? I think it's not possible. Because the ico is scam. They usually make all the information wrong in project relations. They also do not give their true identity. So, how will they be arrested and punished?

Although I have never been punished or sanctioned for a fake project, but in my opinion it's a good idea.
Because now a lot of fake projects

all I have ever done to give a deterrent effect is by asking the developer and embarrassing him by publishing to every social media that exists and also on the forum, where I say that the project is a fraud that would be detrimental if he joined him.

since using cryptoccurency makes you anonymous, there is no punishment for people behind those fraudulent projects. no one can capture them especially if they are using fake identity in their projects.

I don't know what kind of charges appropriate for these scammers and I'm sure they all deserve to be behind the bars. I have participated in some fraudulent ICO's and some of them are quite legit because they attended in some roadshow. And after the ICO's they just went dark and run away the money. And i feel sad to the investors and bounty hunters which we don't deserve.

Scammers aren't just dumb thugs with a knife, these people are highly intelligent even more so than you and me. They will have layers of protection, and create lots of fake profiles. Catching these guys will require NSA data and it's not worth their time.

Truly, there are no effective means to lay any punishments or rebuke a particular ICO the proved to be a scam.

Remember that ICO remains largely unregulated. In fact it is for the reason of being unregulated that many took their projects to a tokenized crowdfunding platform. They are not to be held liable for any loss nor any damage pertaining to the project investment, support or participation. And us, agreeing to their legal disclaimer could not really make any legal appeal when we fall prey to those scams.

It must be understood that currently there are too many ICOs that are scams, this is what makes investors afraid to put their money in the ICO, I believe that the biggest factor that makes bitcoin marketcap even stronger is the large number of scam projects.

I don't think any of them has been brought to justice and that's the reason why the menace continue to strive in the industry. Countries are still working to make laws that can be used to prosecute them

I am also interested in this issue as you.

Punishment for fraudsters must stand so that they feel afraid and they will not do it again, because they have harmed many people in it.
everything will be a lesson and the law must exist so that those who want to commit fraud no longer exist.

yes hopefully crypto is getting tougher the rules and there are penalties also for people who commit ICO fraud or others, because that can make people lose

Obviously, this would be a just punishment. This is fraud and Court and prison is the right place for them. But if it talks about ICO and crypto then it will be different again. the scammers are hard to track in this system. that's probably why the scammers are becoming increasingly large and more and more. needs to be prepared is the anticipation of being able to prevent this from happening to myself.

Finally, a post where in we will know what truly happens to scammers. NONE is the answer for this thread. It is very hard to accept but no one get caught or punished when they scam people on ICO's. They are taking advantage of ICO's regulation that they are not held liable for any losses. If there is someone caught, its just one person and its not publicly reported. No one is enforcing the law on crypto.  :-\

There is no punishment yet I heard for ICO scammers until now and until the regulations are quite vague they will still continue scamming investors and bounty hunters. It's is so sad that most of them escaped from being prosecuted because of he ill defined regulations from many countries. If only there is clear definitions of the law about ICOs, we as investors can file lawsuit against them.

for those who have already been deceived and lost money with ico scammers, there is some punishment method or complaint procedure to punish the thieves, if anyone has already gone through this fact, what they did, there are some sites to report or contest the money applied and lost???? thank you

If you learn the information from this discussion: https://bitcointalk.org/index.php?topic=2853946.0, You can see some cases about ICO scams there. Some of them have already taken further action. You can see the more information below, I take the links of related news about ICO scam cases:
1. https://news.bitcoin.com/canadian-court-sends-perpetrator-of-plexcoin-ico-scam-to-jail/
2. https://u.today/top-10-ico-scams
3. https://www.ccn.com/philippines-crypto-scammers-face-21-years-in-prison-warns-regulator/
4. https://www.coindesk.com/us-government-arrests-charges-alleged-ico-fraudster/

I hope the information above can help you to know more about what government has done to ICO scammers.  

Yeah I also strongly agree that the ICO who commit fraud needs to be given strict sanctions and penalties. This is to avoid similar things being done again and give a deterrent effect to perpetrators. I have a suggestion for the ICO who committed the fraud, we viral on various social media along with the names of the development teams. I am sure that if we spread viral news about fraud committed by irresponsible people, then that person will think twice about fraud. That is a bit of my idea.

So far I have never heard of any specific laws or laws governing ICO fraud. But we can impose sanctions or strict penalties for these ICO fraudsters in the form of imprisonment against these fraudsters. We can use fraudulent articles provided there is strong evidence that can ensnare them. I am sure this case can be included in the case of fraud provided there is evidence and witnesses. I believe this sanction is a punishment that can make them deterred. I also hope that in the future, there will be an official party handling the ICO both in terms of monitoring the ICO and giving permission to run an ICO. I hope this ICO can be more responsible.

I don’t remember precedents with judicial terms for fraud in the ICO. Although every time there is activity, at the moment when fraud is revealed. As a result, people are less likely to trust the new ICO.

unfortunately, at this stage of market regulation, fraudulent projects do not use any sanctions and I believe that this is one of the strongest problems in the current market

We don't know if ICOs scam. You better read scam accusation there. Prefent Scam by giving negative comment on the ann page and bounty page so  no participants join the campaign. Manager who promote scam ICO should be boycot.

i have never seen any scammer after doing scam, we do no know who they are & where they disappeared after doing scam. i think there should be an agency at global level to verify the project its team members to start any project. they need to get the approval first with all the information of team, its members, their wealth and project plan. otherwise we will never know about the scammers . forget about the punishment.

This is a proposal that is widely accepted by the community. But how does a non-governmental market punish ICO scams? If this is done then the cryptographic market will be cleaner and soon accepted by governments around the world.

I do not know how to influence those who promote scam projects. It seems to me that if criminal responsibility is provided for this, then this should reduce the amount of the scam.

Can make folks lose interest in crypto entirely, hopefully the recent regulation can help put this in check.

That's why before we want to invest our money on some ICO project, make sure the company is exist, so we can report them and sue them.
If we don't know where they are, then how can we can report them ? I guess we need to do a serious due diligence before put our money into any projects.

I think we should treat them according to law. That is what I expected most. Scammers will have to go to jail. Those who assist the scammer as managers will also be held responsible before the law. I really want the SEC to enter this market because I need safety and certainty.

Lol, those who are stupid enough to buy into these ICOs are getting punished. They are punished for their stupidity. No need to punish the scammer, if every "investor" did their homework, they won't be regret.

I agree that investors must bear some responsibility for not doing proper due diligence. I think the problem with scams will eventually be solved by professional due diligence platforms. You can eliminate about 90% of the risk if you simply are able to get accurate information about the people involved in the project. These will need to be paid services so their interests are aligned with investors interests. We have already seen how ICO Rating sites that rely on being paid by the ICO can not be trusted.

Most ICO scams use identifiers as well as fake addresses, so it is very difficult to find them to be punished. ICOs are not scam, they must comply with legal regulations in some areas.

at least we can take part in the ICO project which in that country must do a KYC especially for the teams that hold the ICO, to be safer and can guarantee that the ICO is official and has obtained permission from the government

I want those damn scammers to be filled and squeezed with lemon in their whole body alive and must be burned to death as they have nothing to help this world but greediness

I am once a victim also of this shit and the feeling is very uncertain because I cannot believe that all of my efforts has become worthless and unpaid

I agree if it is implemented like that, especially for managers who have a high rank and do a scam when ico. this makes many people who will leave trust in him.

I don't think there is any punishment for ICO failure. That's why ICO projects are risky to invest and need thorough research before investing a single penny in it. Unless ICO project guys doing something illegal or fraudulent, they can't be held guilty for failure of a project. In fact this is the first rule of starting investment in the crypto space, you need to do your own research and even then you should be ready to accept the fact that you can lose all your invested amount.

for sure, the team that carries out the investment money must return the money to investors who invest in the ico, and for the punishment actually we have no right to decide what punishment should be applied to the team, let the authorities deal with the matter and let the party the authorities decide the punishment for the team, because each country has a different legal system.

I think nowadays, the ICO SCAM a good part of them end up seeing their idealizers with problems with the justice of some place! But 1 or 2 years ago there was hardly any punishment! The question is the way they are collecting, it may seem like a lie, but ICOs were previously made in BTC and not ETH. There are many projects, such as EXSCUDO, which raised millions of dollars and delivered a weak product. :)

It is a necessity now as many ICO are going scam and peoples hard earned money going in vain. If a regulation comes in effect regarding punishment of scam ICO then no one will try to scam as he knows that he will be punished.

Unfortunately the ICO is not regulated by anyone and the scammers use this opportunity to raise money. I think in a short time will begin to regulate the conduct of the ICO and not allow fraudsters to raise funds.

If it possible to find any people who making those scam project, that would be convenient for us to give punishment to them.
I think most of us here will be wishing to give them (scammers) the punishment they deserve since the are stealing so many things, not just money but also trust.

The best punishment for fraudulent projects is not to give them your money as an investment. We need to learn how to determine the future of the project and its possible fraudulent implication. The ICO project should be an officially registered company, and the development team should be real.

I hope that there will be literally justice to those people who scam other people into investing in their ico even though they'r not real! They should be turned into the authorities.

KYC is not necessarily a guarantee that a project will not end up as a scam. Although as it is, KYC for the team or will I say in this case KYT(Know Your Team) is something that the likes of ICOBench has been doing on their platform to verify the team identity and make the investors more confident on at least investing in the project. Scammers on the other hand will never reveal their true identity as that is certain.

It is more like you going against the law and then pronouncing to the whole world your identity, and in that case, it would be like you trying out all means to find yourself locked up. The best thing is for people to try as much as possible to know how to avoid scam themselves.

The inevitability of punishment for fraud must be strictly. In order to determine ICO fraud, laws must be created in each country that combat crypto fraud. If a crypto really exists, it is necessary to give it a legal assessment and go out in a civilized way of communicating with crypto.

Obviously, no scammer will definitely end up revealing their identity when they know what they are doing is absolutely against the normal rule of law and it is a punishable offence if caught and in that regard, they try as much as possible to hide who they are and make sure they cannot be traced to anything at all.

Although, we have heard of some who did some scam shit and ever since has been on the run, like one Confido project I invested in a while back, which was the first and only scam project I ever would have fallen for anyway.

Yeah, I don't think that those scammers out there have received any punishment because of their irresponsible actions. Because they cannot be tracked, they use a fake account, fake ID, and other fake information. So, the only thing we can do is just learn from our experience, don't invest your money in any suspicious projects.

Most likely now it is very difficult to punish scammers, since there is no regulation of the market and no one is controlling the market.

Bockchain is decentralized meaning no third party to be involved in any transaction and those scam ICO project does not show real details of the project teams so it will be very difficult to punish or trance people whom you know not about. The best thing is to be very careful to avoid be scam.

Agreed for hard punishment who scam in cryptocurrency and launching ICOs only for crowd funding and after that cheating investors emotions or fund and losses their hard money. I faced many ICOs and lost my principle amount to invest in them. Just to prevent  producing scammed ICO's.

Do you know why government Chinese has ban crypto? Cause many Ico token from them and a lot of people has scam...now crypto has ban in there...scammer go outside Chinese with same method....Ico token...

well, I mean no one will hoping to get an ICO scam, but we clearly don't know before we join it. They make a fake account which is reallyy hard to find out, Let's just hoping that any necessary people in bitcoin could talk about this, and make any kinda punishment. 

there must be some rule that before starting any ico project must submit their property information to some authority who monitor
in case of any fraud, they have the power to cease such property or fund in case of any fraud.

Thanks

Fraud in the ICO is very difficult to predict and it is difficult to choose which ICO is correct and the ICO is fraudulent, maybe for people who like to cheat and harm others in my opinion the appropriate punishment is in prison maybe for 10-15 years, maybe with that fraudsters will be deterred.

Thats why we need regulation on this. Police can not punish them because there is no regulation about cryptocurrency in many country. Scam ICOs always stand in country that crypto still unregulated and i think thats why scam ICOs always exist

Eat. Article 159 of the Criminal Code of the Russian Federation provides for liability for fraud. In all cases, including ICO, there is a transition of material values from one person to another.

At the moment, there are no laws to punish fraudulent ICO projects. But in any time soon I think they will appear.

It is safe to say that for fraud with cryptocurrencies will be punished in accordance with Art. 159 of the criminal code, as well as possible with Art. 160 of the criminal code and Art. 185.3, 185.6 of the criminal code.

I will sincerely side with you, those who entertain these scammers must be brought to book. Those managers who host the projects must be punished since I sincerely think most of them are aware of what is about to take place before they start but always act as if they know nothing about it.