Punishment for ICO for being scammed.

[mongkie]

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?

since the whole cryptoworld is unregulated because it is decentralize, it is impossible to apprehend a scam ico but each country can ban icos but not regulation is fitted now to punish icos risk on your own.

[kingvirtus09]

Cryptocurrency is purely speculated, few projects are really worth it! but buddy try to read their whitepaper and ask them about github this is the place to be where you can see developers are really have thier product. In case you really want to join their project. Github and telegram is the answer.

[goku1525]

Cryptocurrency is purely speculated, few projects are really worth it! but buddy try to read their whitepaper and ask them about github this is the place to be where you can see developers are really have thier product. In case you really want to join their project. Github and telegram is the answer.

This is good requirement or regulation in this technology in order to not commit scams like in bounty and ICO projects. I think if this may happen they will afraid to launched a project because of punishment to occured.

[kenmobility]

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?

hmmmm...this was something i wished was possible after been scammed when i newly entered into crypto space, i had wished they were a body or bodies that scrutinizes things and vets every new project that proposes to embark on ICO with the view to protecting potential investors from scammers that claim to have projects to deliver and later run away with people's funds.

[mazdafunsun]

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?

This is something that starts to become more actual right now because SEC ir getting more and more interested in ICOs and going after those who have mislead and maybe made nad ICo with purpose to scam. As far as investors it will be a long time till they know if they will recive thier funds back. Examples of SEC going after ICOs are CENTRA , TBAR, ShipChain, I do not mind that thet are going after the rotten apples, but if they atrt to abuse every ICO, it will be shakeup of ICO world indeed.

[Btcepenbob]

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 this is the biggest issue right now. There is no authority that could hold up justice inorder to penalize those who are stableshing fake or scam ICO.

[PeterCarlos]

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?

this is a bad situation, Fruad is higly prohibited. don't know of a better punishment than to arrest every individual invovled in running the scam project and refund  back  funds  to thier  investors. but this may never be possible, crypto is Decentralized. its Tricky..

[vova.andreyan.94]

The way to punish scammers ICO yet is not and most likely will not be, otherwise just 70% of projects will immediately disappear!

[JaoBadjap]

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?

Filtering ICO's are not yet possible at this moment. We could never know at first. however the thing is we could investigate ICO that we are interested at, we could do some research and really check them out. but it wont really assures if its legitimate or just a scheme.
Well it depends on the country of origin of the Scam. On the law that can be applied. And the governments that wanted to get involved on pursuing scam ICO.
And in my country scam, are only life time imprisonment. we dont have death penalty at the moment though.

[taiwww]

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?

You do realise that we are taking about the crypto projects which are based on the blockchain and the only thing here on the earth thats unregulated and still working with full scale. I think its impossible to track down such people with scam intentions. Because if they are willing to scam the project then they fake everything since the first day, whether it is  ID proof, contract addresses, smart contract, ICO roadmaps, white paper and almost every thing thats need in it. I dont think we can even track them to punish them.

[robelneo]

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?

Unfortunately we do not have right now, and of course, we could have one that will and can monitor this scam Ico, because they are vain in our industry and they should be stopped once and for all. but since this is decentralized and anonymous and everything here are unregulated we just do our own research and share your research.

[Sky_Flower]

While there is no regulatory entities that would be involved in fraudulent ICO. We have to wait for the crypto market to become completely legal.

[haroldtee]

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.

Probably regulation is going to end up playing that part but for now, it is a dead end for any scam project to receive any form of punishment since it is an unregulated space. Nevertheless, we have heard of the like of Centra owners being charged for fraud after months of listing on exchanges and even Binance, while later finding out they ended up deceiving investors by claiming what was not available. Well, I believe that is a start! For now however, due diligence is the way to go.

[captain_blood]

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?

So far there are no way to punish those making scammed ICO and there will be no regulatory body that will do since crypto is decentralized and people doing scam are anonymous.

Wrong, you can sue them in SEC for such fraudulent act regardless of the jurisdiction as long as it involves money. Just go to the nearest SEC and sue the Team behind fraudulent ICO. That is if you knew the team behind. Some shady ICO right now are smart enough to hide their identity in pants so that they won't be traced.

[wantjokull]

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 was anyway to find such people who scammed us then surely we can hand over them to the police and court will take the appropriate actions on them. As far as our money is concerned we can always get it back from them as they should have it with them by applying law and orders. Some serious life imprisonment for them would be bonus to us but I dont think for financial frauds that is an option.  
But surely punishment should be such that they get the lesson and we get our money back.

[macchiato]

Punishing them is difficult because first, you've got to know their real identity first. How? In this decentralized world. Filtering them via rating sites are no longer reliable as well. We see them, for example, 4.9 in average in a famous ico rating sites but we do not know how real these ratings us. Just recently, an article exposed a famous ico rating site's unreliability due to ico experts being paid for high ratings. If you are curious about this, google about it.

[ArkiCrypto]

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?

No there's no possible way to filter if the project is a scam or not since you/we know it once it becomes a scam (Mostly) but there are things you can consider to make sure that the project is legit or has a future such as:

• Credibility of each team members
• Office Address
• Legal Documents
• Detailed Roadmap
• Clear and promising whitepaper

You can check the thread I've made about avoiding being scammed again by different ICO's you can also check there the links about different kinds of scams so you will be aware of it: https://bitcointalk.org/index.php?topic=3196383.msg33152916#msg33152916

So far I haven't encountered a project scam that's been punished by the law. I think there are different punishment in every country so I'm not sure of it.

[krauzzer02]

The common thing people will suggest to filter out those ICO is to look for ICO scorers or ratings over certain websites, well not saying don't use them don't just be fully dependent that every decision that you will make are always up to the scorers, make your own assessments as per the ICO scams I hope there would be a license or somewhat agreements to regulate those ICO's but there is none for now so be extra careful out there.

[bagikoin]

There is no system that can filter out things like that. even for penalty regarding these events nor will anyone can overcome. Crypto is indeed great things and it has also become a risk if it is entered in the crypto. any Government would not be responsible regarding crimes scam going on.

[tech12345]

Many countries have banned the ICO because the government has not been able to handle all of the ICO scams. However, the current purchase of ICO is still largely based on the belief that there is no binding mechanism to punish fraud.