Punishment for ICO for being scammed.

[ROB18]

Unfortunately, ICO's as it is still on the building stage and looking for investors, they are not yet regulated. It will be regulated only once the company will start the actual business therefore they have to acquire a license from the Government. I would highly suggest that there should be a governing body from the Government that should control the ICO's in order to validate there project and the team behind this project. That way, there is a sort of assurance that we are investing on a real project and real people.

[dunfida]

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?

Filter? This is only possible thru regulations that why you can see of projects which do comply KYC because most of them do already comply on laws which this would really lessen possible fraud and scams but in other side scammy ico projects would always exist as long theres investors who do keep feeding em up then the cycle would continue. Catching them would be nearly impossible because they do scam out people into some indirect various ways and on the end you do realized as an investor that you have been robbed. Consquences? supposed to be the traditional ways.

[automail]

Unfortunately, there is a law of scammers but the question is they will get caught. A lot of people scammed investors on ICO's but I haven't heard anyone get in Jail or at least pay for what they have done. The law for online communities like crpto currency is being implemented by choice. The police can caught a scammer if they want to but they just won't do it because of the technicalities behind it. Try going to the police station and report a scam online. You will have a hard time talking to them.

 If KARMA is real, maybe those scammer will get it someday....

[rommelo24]

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?

It is true that there are scam ICOs that are running even right now but it is very hard to detect them as they are also evolving. The way they present their project it seems that they legit.

[parkraol]

For now, there is no project that make investigation and filing the case against scammed ICO. I think any individual can file the case against scammers. So what we should do is to do further research and analyze the ICO if it is a scam or not. When the ICO is very transparent with videos, images or photos and have a genuine whitepaper, I can say that it's not a scam.  Hopefully there's KYC to store their real identity in crypto world so that investors can avoid scammers.

[turagsoy123456]

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?

Actaully we can not directly punished the man who is behined the scammed ICO, because its hard to find them they are not visible. And there is no egency assign to monitor and evaluate who is the scammed ICO. The best thing that we can to prevent those scammed ICO.. Before we decided to invest our money in that ICO, we should do a certain reseach their team and the roadmap of their project. So that we will know that ICO is legit.

[Ranly123]

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 don't think to there is a way to pinpoint that an ICO is a scam because blockchain is very vast. Another thing why scammers cannot be punished is the anonymity of everyone using the blockchain technology. So to avoid or minimize the risk of being scammed, we should read thoroughly the roadmap and the real product of the ICO to determine the percentage of a legit and non legit ICO.

[vrabac68]

One day it will be SEC who will check all new ICOs but i know that already there are plenty projects waiting for licenses and SEC permition for start because a lot of bounty projects stopped doing promotion and selling of tokens

[Encelad]

As yet, the cryptocurrency is not recognized by the whole world as a means of payment and accumulation. The authorities of different countries are in no hurry to punish the criminals. After all, if the theft of tokens is punishable by law, then it is necessary to legitimize the cryptocurrency. I'm sure that someday it will happen. But now we can only hope.

[parlerm]

We can't punish them. And it also which make SCAM ICO multiply. Also right now we're hard to different between SCAM or LEGIT. Maybe we have to make some improvement so, in the future there is no more SCAM ICO.

[samcrypto]

As yet, the cryptocurrency is not recognized by the whole world as a means of payment and accumulation. The authorities of different countries are in no hurry to punish the criminals. After all, if the theft of tokens is punishable by law, then it is necessary to legitimize the cryptocurrency. I'm sure that someday it will happen. But now we can only hope.

Since cryptocurrency is not yet recognized by so many countries then I think we can't file any case to the scam ICO. Maybe someone should create a company who's business is to make ICO from its client so we can sue someone if the project turns to a scam, I hope this will happen so people will have the confidence to invest on ICO again.

[Julunguul]

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?

Recently, there's no such way to detect of scam ICO, the only way is we need to really watch the ICO that we want to invest. For me when there's a sudden change about the terms of those ICO, we need to be carefully, it might one of their way to scam people.

Punishment ? i think there's no bodies of law wanna do that, although if those country give a illegal stamps to "Cryptocurrency" which that means we take the risk and country can do anything much

[Red_Evil]

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?

Recently, there's no such way to detect of scam ICO, the only way is we need to really watch the ICO that we want to invest. For me when there's a sudden change about the terms of those ICO, we need to be carefully, it might one of their way to scam people.

Punishment ? i think there's no bodies of law wanna do that, although if those country give a illegal stamps to "Cryptocurrency" which that means we take the risk and country can do anything much

I think this time the punishment for the scam ico is only in the USA. as has been done by the SEC against some ICO projects that are considered to deceive its investors like the centra project

[omfg.xekcep]

As far as I know there is no any organization, committee or laws which might able punish participants of crypto market. It is a wrong situation because there are many occurrences of fraud. I think that we must discuss this theme to attract an attention of the founders and major participants of the crypto industry to solve this problem.

[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 the country of the origin. of course there are bodies that prosecute people for scam and I believe it is in every country but tacing online scam using law available in the country where the ICO is located is another problem. cyber crime is one of the most difficult crime to trace especially when cryptocurrency promote anonymity. while few ICO may tell you where their company is being registered, many of them will not even want investors to know their address so you may not try to check if truely they are registered.

[emmaong12]

It's fraud, years in prison if caught.

[kriticko29]

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 an IP address ban should be applied to those scammers to prevent them on scamming others. And also they should be noted as a fraud team member of a scam ICO so that others will be aware of their fault and wrong doings.

[ofounz98712]

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.

[warwar]

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 an IP address ban should be applied to those scammers to prevent them on scamming others. And also they should be noted as a fraud team member of a scam ICO so that others will be aware of their fault and wrong doings.

Ip ban is just like light punishment, sort of cheating on a game and gives you an.ip ban. Mostly it should be in physical, like saying breaking a law regarding about scamming people, though now I havent heard any scam ico that has been solved by law enforcement who trying to accuse them to imprisonment. Now I think there is no punishments, you just need to evade those teams that you know that scam you

[hakertajniak]

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?

Yeah, there should be a kind of punishment for project who scammed many investors to prevent it more.
I think you can know the ICO is scam or not by their community management. Therefore, you must join their channel or social media to find out.