Punishment for ICO for being scammed.

[shampapk1988]

From my perspective i think if anyone goes in a wrong direction he/she must be punished. That's why ICO punished for fraud. I support this because i always being with legality.

[1714815071]

1714815071

[polemdolah0]

I think Cryptocurrency is purely speculating, as there are some very valuable projects, but buddy try to read their whitepapers and ask them about github nowadays is a place where we can see the developers really have their current product, nmun If we are right want to join their project, Github and telegram is the answer for now.

[coingrow]

There have been action taken on some ICO's that have cheated people, but only ico's which are considered to be security are penalized by SEC. These days to get over this problem, most projects do not even do a ICO, they opt for private sales.

[strauberyg]

As the whole system of cryptocurrency is decentralized and those who are making scam are anonymous,it is quite impossible to find out and punish those who are making scammed ICO.

[defoman]

Is there any posible way to filter who are going to make an ICO to be able to know if there are scam or not? And is there any bodies of law that would be able to punish them once they turn into scam. And what punishment should be given upon committing such the crime?

At the moment, ICO is not regulated by the legislation, but there are countries where the first steps have already been made for this. The point is to prevent companies from going to ICO if they don't have a sufficient budget and development plan. For the selection of projects, you should analyze the idea, the roadmap, evaluate the realism of plans, study the portfolio of the development team. But even this will not give guarantees that the project will reach the exchange.

[GFE]

Is there any posible way to filter who are going to make an ICO to be able to know if there are scam or not? And is there any bodies of law that would be able to punish them once they turn into scam. And what punishment should be given upon committing such the crime?

As I know several countries are developing laws to cover ICO activity and also ICO risks with ICO founders responsibility. So punishment for ICO scammers will be real soon

[jpnl0006]

the ICOs that get to become scam ICOs are most times not having any valid details as to contact or communicate with them with or identify them. so, getting to sanction them is almost  impossible as there is no face or licensed company name to bear the sanction

[emanjun]

Is there any posible way to filter who are going to make an ICO to be able to know if there are scam or not? And is there any bodies of law that would be able to punish them once they turn into scam. And what punishment should be given upon committing such the crime?

I agreed that those ICO's must have a punishment whenever they are proved of doing scam. The manager of that bounty campaign must have a retrust inorder for those bounty hunters to have an idea whether it is good or bad to join that campaign.

[tumokatok]

Know people running ico by checking their linkedin profile. Check their website if it's legit. These are just some of the points we need to check before investing. it's really hard to tell which one is a scam or not. The only way to ensure you will not get scammed is if checking feedback from people

[bienvang192]

So far I know there is no specific way of knowing an ICO scam or not. But you will have so many resources to know in detailed about an ICO. SO doing sufficient study regarding the project, you will be able to know the reliability of any ICO. And till now there is no ruling body established to punish the scam.

[www_blockchain]

Unfortunately, now there are no laws on which developers of fraudulent ICO projects would be punished. That's why everyone says you should be very cautious about your investments.

[Ryan786]

This would actually be really great but can't happen thanks to one of the best things about crypto which is anonymous transactions. Would be great if a way could be implemented where people behind ICOs only could be identified and have the rest of their crypto transactions remain anonymous

[Lannie25]

I think the best punishment on that is to be in jail in lifetime
because the thing they do is not really good and they can destroyed the peoples life once they feel upset once their money is scam by other people.

[goatpo]

Till will have no KYC for admin of ICOs, noting will change and scams will be more and more than now.

[Fayamba]

There must be regulatory bodies before such actions can be taken, but i have not yet heard of one. The scam nature of most icos is the reason why most countries dont allow icos. The thing is simple, if they run with your money, no one can trace their whereabout. But with regulatory bodies, all these things will stop.

[Victorheywhy]

I do not think there are any regulatory platform or laws that will make that happen. It's always best for everyone to be very careful when it comes to this issue. Once you get scammed in any ICO project, that's gone for good. There are apparently no regulatory bodies you can run to when it comes to ICO project being a scam or not.

[akishang]

To be honest, I have read a lot of scam ICO's and bounty hunters complain about an ICO they worked for being a scam. However, I never read or heard anyone from the ICO team got caught or being punished because of the crime they committed. There is a law on this but if they are unable to capture the culprit, then there is no one to sue. No CASE to file. Just a chase and police will give up eventually.

[bournekin]

In my opinion, all of us will really hope to be ignored from the scams. Yeah, whatever happen, scammed is very worst and it is unfair that makes many people lose their money. However, to stop or to know early avoiding scams or giving punishment, I think it is difficult. Many people over there really know the lack of the crypto. They make a great-like ICO to attract the investors. After getting money, they go away and we are scammed. this is part of our risks investing in crypto. therefore, to avoid the scams, the only one is to analyze the project as careful as possible. By understanding their team exactly.

[canaveralnonie]

In my opinion, all of us will really hope to be ignored from the scams. Yeah, whatever happen, scammed is very worst and it is unfair that makes many people lose their money. However, to stop or to know early avoiding scams or giving punishment, I think it is difficult. Many people over there really know the lack of the crypto. They make a great-like ICO to attract the investors. After getting money, they go away and we are scammed. this is part of our risks investing in crypto. therefore, to avoid the scams, the only one is to analyze the project as careful as possible. By understanding their team exactly.

It's difficult, because of different aspect specially the identity or the solid information of the origin or group of scammer ( or even individual ). The fraud website or crypto project can delete automatically if they want too in just little interval of time.

[Matimtim]

That`s great idea, but I think its impossible because before you can make a team to determine whether the ICO is scam or not to punish the scam ICO, need you first to build world wide agreement about the legality of crypto currency in the world because need to know ICO is not for one specific country but for all, so we need to legalize first crypto currency in all country in the world before we can make the  world law finishing the ICO scam.

I think there are remaining country in the world that ICO is still illegal so meaning whether the ICO is good or not its still prohibited and violation of their laws, so in that point its your own risk if you are going to invest there, even though you know that`s illegal and its not the responsibility of the government or other people.