what if ico lie

[ORCAf]

If ICO is a lie and takes all of your investments with it as it goes, there is not much you can do, really. Since the regulations on cryptocurrencies are pretty much non-existant throughout the world (and there are countries where ICOs are banned completely), no institution can take part in the rescue of your money.

What you can do to avoid getting scammed is to be extremely cautious when choosing which ICO to invest in. It is usually pretty easy to spot the fake ones, since almost everything about them looks cheap and non-proffesional. This is definitely not for all occasions since some of scam ICOs actually put a lot of time and effort to make them look as legit as it can be.

Look at the team, see if you can actually find them of various social networks, check if the people behind it are real, etc.

Think if the whole project is even possible to execute. A lot of ICOs and start-ups in general today are offering products/services that don't exist now and possibly cannot exist due to technological (economical, social or other) limitations.

Be as critical as you can be. Ask questions, pay attention to how they answer and communicate, you will see how much of 'proffesionals' they are quite soon.

Believe in the project. It is your money you are going to put in, right?

[Fire Rabbit]

If there is ico who does not pay what will you do?

Investing in ICO is actually risk. You should thoroughly enquire about the ICO team before investing in it. Just check whether the teammates are active in facebook and other social medias and are they the original owner of ICO. Also its important to check their identity. If all these things are ok then 95% it wont be a scam and you can invest in that ICO .

[HertzCoin]

all ICOs are risky
you shoul think over before investing
but there are terms of smart contracts protecting investors

[Anndrianno]

Nothing- you are investing at your own risk and should share your part of risk... Be cautious

[Subb0]

what if a business is a lie? what if you go to e.g. ebay and buy something but it never arrives? do your research and look at the whole picture and then make a choice, if you do not do research then you are taking a risk!

[dangdangdang]

This thread means something to me because the very first ICO I joined is Tangerine Exchange by Mandarin. The ICO started from August to September and until now their tokens (TNG) still not exist in any exchange. So, what else we would think about it? Though we wasted time for the ICO and hoping their success but we receive nothing but tokens that are absolutely useless.
Yes, some ICOs lie.

[peter1]

Now most of the ico are deceptive, we carefully invest it I've lost a lot.
 

[newlone]

If there is ico who does not pay what will you do?

I think they will payment give you money if ico is really successful or if ico is failure does not pay, I don't care it.

[amacar2]

If there is ico who does not pay what will you do?

We can't do anything this is why we should only invest in ICOs that have some trusted person in middle as escrow. If devs will not came up with what they have promised during ICO, escrow can delay release of the ICO funds to developer team.

[magiccarpett]

If there is ico who does not pay what will you do?

just have a look at montha. they made good marketing and scamed investors. but the community believes in them. so u will get some money back if u will be scamed. icos are risky.

[dhka]

Unfortunately with this kind of open environment, anyone could be a developer without any legal consequences

I hope there will be some legal contract or something, a contract between Developer Team and Bitcointalk management to have an agreement before posting anything here, to make sure everything is in place

[misterj]

The thing is when they are gone, you cannot do anything even the management here. They could only remind us and provide tips for us on how to prevent such event. Base on experience and on my readings related to this topic, it mostly happened when they fail to reach their target. The point is they have the power and freedom to do so but you also have the power and freedom to determine if such event could happen thus, preventing to be lied. The key is to be observant and not be the type of person that just joined and follow rules and wait.

[Blake_Last]

There is nothing much you could do if you get scammed by an ICO but just move on.

[wpalczynski]

Well you would lose the money you sent. That's why you have to be very careful doing your research before you actually decide to invest...

[Fuhre]

There is good and bad.

I really do beleive that 99% of ICO's have good intentions.

Bad planning makes them fail - nothing else.

If there is ico scam, where can I report it? Will there be any special action?

no one can do anything if there is a proven ICO scam. we can only lament our own careless acts. that way we will learn more by learning from our own mistakes. we can not report them to the police because it's a very silly act.

[ask]

The question is what if they will get all ethereum then escape.
They will give you token with smart contract but if their token is just a shit?

[DenGreen910]

there are too many ICO's so it's possible that there is scam.

[skullsandbones]

Altcoins have many scammers and fraudsters, you need to be cautious, that's why its recommended that you look into ICO's via whitepaper viewing and website browsing to make sure it's legit.

[altercreed]

If there is ico who does not pay what will you do?

Move on and find another ICO that's legit and with hopes that you won't be scammed again. Why not make a background check of their developers first? Look do some research of their profile if they're really legit including their website and most of all, their White Paper.

[Rabi3]

That's meen that is scam, and you don't have anything to do, you should choose carefully the projects that you went participate in that's all that you can do.