Yes, I'm pretty sure they can. I don't think there's a sort of contract or agreement whereas they can't just run away with the offerings. Like just what DaMut said, this is probably the main reason China and South Korea banned ICOs, and that's to prevent their people from getting scammed. This is a perfect reason that you do extensive research before getting in on an ICO.
I was also investigating the possibility to lose all your investment in an ICO. I thought that some valid issues to protect yourself should be taken BEFORE buying an ICO tokens. Would you agree on the following?
- Read the whitepaper and all material and try to figure out if the proposed "venture" is solid, has a valid business proposition, create real value and has future potential ? Does it stand on its own legs from the business point of view ? would you buy that product and use it yourself or do you think there is a market for it?
- Is there a real registered company, with a legal address and possibly a physical office ? Is there a team ? can you contact them ? Do they answer ?
- Do they have a real existing product or do they have just an idea ? Do they need the money to develop the business/product from scratch or do they already have something concrete that you can test ?
- Do they already have customers ?
In my experience a Q&A based on above items would be a good filter to reduce the possibility to get scammed or anyway to potentially lose all the invested money.
Does it make sense ?
THX
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