Punishment for ICO for being scammed.

[LightNestling]

OP, I suggest try menlo.one it is like a ICO review platform with more features, the thing with them is they will automatically filter out scam projects with their community based communications system. A community of expert in blockchain technology.

[Levious]

There is no law that can effectively constrain ICO projects! Although some regions have established laws or institutions, their laws can only restrict the country's false ICOs, and they can't be confined to fraudsters in other regions!

[judyrob]

There is no governing in that field. ICO is always popping up without anyone being able to control even from different countries. areas of law handling it also don't know for sure because the ICO itself fraught with uncertainty and they didn't bother to handle that sort of thing.

[Fulmand]

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?

Being decentralized is the luxury for those who always taking advantage to weaknesses of others, and that how it goes, it's difficult to identify the scam ICO's because of they are also bearing the complete details in promoting certain projects, it's is our own prerogative to check or do a research before investing any of them.

[Qeupe]

I think his punishment is to imprison all the team that made the ICO. Or freeze all the assets they own, and hold the coins they get from the ICO participants. Although it is difficult to trace it but I think it can be applied to punish those who commit fraud.

[webtricks]

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?

If there exists any particular way to determine that then believe me none of the ICO could scam anyone. All one could does is become more cautious about everything and doesn't fall for any ICO by reading just few charming lines.
About punishment, yes! Standard Law Body in every country is capable of undertaking crimes related to ICOs. If you as an investor feel that company scammed you in any way, you could file formal complain against company. Several ICOs including big-raisers like Envion are facing court trials.

[thesmallgod]

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?

depending on how much informations investors know about the management behind the project. Image, Videos and written document are few of those way you can extract information. some countries in EU have good law in dealing with scammers if you have credible information about any suspect but one problem about some investors is that they pay little attention to such information until their money is taken away from them. also these information above can give you an insight in knowing legit ICO. many scam ICO will use fake images and most time they do not have videos that reveal the real Identity of any of the founders. Scam ICO like doing Video using cartoons and converted image and text as illustration. most of their whitepaper are poorly written and can be sometime full of playgiarism. in fact the first thing I expect any investor to do is to download the whitepaper and use plagiarism checker software to evaluate it. google also have an online image recognision platform (http://image.google.com/). such platform can be use to search for presence of similar images across the internet.

[microbb8]

There are no bodies that would control ICO. And so there is so much deception.

[zeze18]

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 think it's not possible because there are still no rules or regulation in a law of any country about cryptocurrency.
That's why many experts in cryptocurreny said, only invest the money that you can afford to lose.
So, invest with your own risk.

[Kulang]

Maybe the best punishment for those ICOs that were scammed is that many people are not trusting them anymore and there will be no investors that will ever invest on them and also they can be banned in crypto world and in making ICO project because of their bad trust rating due to what they did.

[carlisle1]

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?

In any industry much more those who are online in nature there will always be people who are using their talents, skills, abilities and creativity in order to fool and grab money from other people...and we are helpless in actually changing their mind so that the best thing to do is for us to be always be careful. This is one ground why many countries are regulating (and even banning) the help of an ICO because regulators feel that they must protect their citizens against the possible scams. Now, in my view the best way to deal with this is to have  body established by the industry itself to screen ICOs so that "investors" would not be deprived of their money and time. The famous Vitalik Buterin suggested the DAICO platform which has mechanism to protect the ICO participants and I think that it should be required of all ICOs...but then again in a decentralized market there is a problem as to who will implement it as we all here on a voluntary basis. We need regulations with the view to protect the investors but not to kill the platform and self-regulation is the best way.

There are private sale thats happening in ico now,and this is alarming because they are giving big profit but the more riskier,because you have no evidence over forum if the project turns scam then investors dead

Thats why i support that Vitalik Buterins DAICO because this will lessen the prospects victims of scammer nowadays

[moeth]

I think the cryptocurrency market is not perfect now. There will certainly be such an intermediary guarantee company in the future. But it also means that the coin you are investing is not a scattered coin, or you have to pay to follow the trading rules such as the tax.

[sehoon]

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?

About your first question, that will be really difficult if you are going to do it by yourself. There are teams that actually promotes legitimate campaigns like amazix. And for your second question, I think they should all go to jail. You don't need to make a law that will be exclusive for cryptocurrency because technically, doing scams is considered as stealing.

[btccashacc]

That's why the government is trying to control the crypto industry in order to protect their citizen even though it againsts the decentralized nature of the crypto itself. Too much scam ICOs out there since it's not hard to create ICO, we as an investors have to be more selective in choosing which project that we'll invest in, whether they are real or not and can bring benefecial to us in the future.

[yslyv]

there is no an exact filter for scams. you should focus on the team. you should check their previous experiences, you should check their approach through questions asked. if they satisfy you enough you can trust and invest. if not you can just ignore.

[TerrorFromTheDeep]

I think it will be very difficult to prove fraud in the ICO framework. Especially if it's a good prepared scam, then most likely the organizers are ready for this and it is not able to identify right persons.

[juragankambing]

I personally really hope the filtering of ico because nowadays very much ico which leads to a scam,
I strongly agree if there is a legal body that focuses on ico scam because after all ico scam is a form of fraud

[rextoinsem]

At this point in time it is very difficult to come up with any punishment for fraud. The legislation of the countries will not soon make decisions on the regulation of the cryptocurrency market. At this point in time, it is only common sense and community opinion. I would also introduce a mandatory KYC for developers. And the video KYC and not sending photos and Bank statements.

[barlo357]

Everybody here has a responsibility to trace those scammers and I think the punishment is to post the name of scammers in forum so that people here will be aware for their activities.

[OluwaTosin10]

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?

Except caught
I don’t think there is any punishment for ico scams and thief’s
But we have Karma and God to judge

For bounty managers, I think there should be some form of compensation for participants who fall victim to such fake projects and managers should check on the team often to figure out things certain projects hide

Then we can be a little safe