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Author Topic: what happens when someone scam in ico?  (Read 396 times)
newbie3127
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September 13, 2017, 12:36:12 AM
 #1

i put btc in 1 scam ico startum and not receive anything

what happens to these scam ico? do police do anything?
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September 13, 2017, 12:47:26 AM
 #2

No.

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September 13, 2017, 01:22:10 AM
 #3

you can try to do some research and investigation for yourself and collect as much as possible informations about the scam and more important the persons behind the scam, i would do it and if i would have some proofs, you could try to contact the "police" or similar authorities, but there is a chance = 0.
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September 13, 2017, 07:16:07 AM
 #4

Yeah there's basically nothing you can do, Most ICO's are scams and you people keep throwing money in them no wonder china has banned them all.

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September 13, 2017, 07:26:23 AM
 #5

They just run away with all the money, there is no regulation so there is no comeback or protection for the investor so everyone needs to be very cautious and research before investing in any ICO.
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September 13, 2017, 10:22:07 AM
 #6

but what if i have person name? https://www.linkedin.com/in/justintabb/

still police do nothing  Shocked ?
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September 13, 2017, 11:05:30 AM
 #7

but what if i have person name? https://www.linkedin.com/in/justintabb/

still police do nothing  Shocked ?

did you read my posting?
for sure you can try it, but if you dont have all fact and proofs of scam there is a chance = 0, and of course normally police have to investigate...
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September 13, 2017, 12:36:35 PM
 #8

but what if i have person name? https://www.linkedin.com/in/justintabb/

still police do nothing  Shocked ?

did you read my posting?
for sure you can try it, but if you dont have all fact and proofs of scam there is a chance = 0, and of course normally police have to investigate...

what is fact and proof? i pay but not get anything
this proof good or no?

because most ico only donation so can i go to police?
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September 13, 2017, 08:46:33 PM
 #9

People think that regular "police" can do something about stuff like this are ridiculous at best. Let's put the Cybercrime division aside (not all places have this anyways). What exactly are they going to do? Let's say your local police found out the likely identity of someone. That someone is possibly a criminal, and is located several thousand kilometers away. Unless we are talking very big numbers and very good proof, then that is going nowhere.
Now, what usually happens in a scam ICO is that we're talking about anonymous people (e.g. often teams made up of fake images taken from online with fake names or completely anonymous). If they manage to *clean* their coins through mixers and other anonymous coins such as Monero, there is *almost 0%* chance of them ever getting caught. All you have to do in the end is to make sure you sell into cash P2P, anonymously and stay far away from the place where you sold. Now when you put into perspective how *easy* it is to pull off such a scam (maybe not that easy of a big magnitude, e.g. several millions), that makes you wonder why anyone in their right mind would invest into anything without proper due diligence and projects that don't have any escrow agents. "A fool and his money are soon parted". Roll Eyes

Side note: Wrong section. Maybe trading discussion?

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Opnsrc
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September 13, 2017, 08:56:28 PM
 #10

i put btc in 1 scam ico startum and not receive anything

what happens to these scam ico? do police do anything?

But what are you talking about?

I cant find anywhere such coin.

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equator
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September 13, 2017, 09:09:53 PM
 #11

It is very clear that when the developer created this ICO and which wanted to be get scammed then do you think that he/she would give clear identification details of behind this ico, no they wont everything is setup with wrong information and you can do nothing but just forget the invested bitcoins and move forward in the life.
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September 14, 2017, 11:05:03 AM
 #12

Nothing there are many things which makes a ico a scam first is when a ico already have a mindset of scamming people so they upload all fake names , identities and spend little on advertising.
Second is when the ico is fail they spent so much on their product but couldn't reach their goal and turned into a scam.
Btw ico is illegal and is not regulated in anyway so investing in them is always risky and police might not show much effort in catching the scammers
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