Punishment for ICO for being scammed.

[fortunecrypto]

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?

Some of these are posting fake accounts, so you have no way to know where to go after even the authorities, so the best we can do is to follow the project investigates do a research if the project is real and the people running it are not fake accounts, because you know who and where you are going to get after if their project turn scam.

[Nikolas_the_Wonderworker]

The crypto market for investors' confidence is legalized in the Republic of Belarus. The president and the government issued a law that regulates the work with cryptography. Fraud will be considered from the point of view of the Criminal Code.

[btcvinci]

Well, there is no legal punishment or action that can be taken on ICOs since there are somany ICOs scamming, it's like people using torrents. Using torrents is illegal. But there is a huge amount of people doing it. Who are you going to catch. Same case with ICOs. What we can do about it is remember the names of all the people involved in running the scammy ICOs, create a gloabal public datasheet and share their names with everyone so everyone can be aware about their unethical conduct.

[Jeepney_koh]

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?

That is the risks in the digital world. There are always people who will fool others just to get money in illegal ways because they know that their real identity is hidden and people would not trace them. Sadly, you cannot go after these people because you dont even know where to find them. Punishment, maybe just let karma comes to them.

[blockchainmarketus]

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?

There are always scammers in the world. The cryptoworld is decentralized. No regulation can control. They control the institution in some countries but scammer can use free land to make artificial office to fake the fragile investors. That's is why SEC in USA only, how about ICO office ofshores far from law and justice. In the end, it is your decision to participate in ICO or not. It is your decision you are scammed of not. Everyone doesn;t lke being scammed.

[Augustyusuf]

i think at first every project before launch their ico must have a license for held an ico event sale, so that will reduce possibilities of scam project.

[duanavj]

Any investment has a risk, which needs to be known in advance. Unless you are on the stock exchange, you must bear it yourself if you lose money, but the punishment for fraudsters will not be used to subsidize your losses. So don't expect this.

[Inuldarahrendah]

I think it will be difficult, we know that cryptocurrency is anonymous and that means no one can know the someone's personal data. besides, there are some countries that forbid crypto and certainly, the government also oppose the existence of crypto. all of this has a risk. and to avoid the scam ico we can choose a good ico by looking at whitepaper and their telegram group. if it is good then we can follow that ico.

[dmty.0809]

It's hard to know whether there is a law or not for them, for example like MMM, they say dare to invest bravely also take the risk, and it really is a fraud, but still can make MMM 2nd to any fixed running and finally scam. For ico alone maybe we can see their CEO, if he has committed fraud, do not dare to invest in their new ICO.

[jaythelingly]

There is no way to find out the scammed projcts. Its totally on our intuition and experience by which we can sense it. And as for the punishment of scam project holders government can punish them as per the law of the country. Many scammers has already been arrested with such accusation

[jhache]

The problem with these ICOs is that once they exit scam they are untraceable due to cryptocurrencies being decentralized and anonymous. Also many people don't even check the background of the dev team and if the profiles are who they actually are. Thats why there needs to be some regulation brought into ICO markets.

[Lookjooru]

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

[CryptYeah]

I think, by the system of trust and so it is clear with whom you are dealing. If a person has a negative reputation (check the account) - then you do not need to participate in his companies))) Those who have too bad reputation, and so they are banned. Well, a new account with positive honesty on this forum is not so easy to get.

[BantiHanter]

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 far as I know, there is no way to filter ICO or the agency responsible in this regard. in the world of cryptocurrency you are responsible for yourself if something bad happens

[alient86]

Unfortunately, people can easily deceive other people and go unpunished. At the moment this sphere is not regulated in any way

[peterpan19z99]

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

[TheWalkingCoin]

Nothing punishment about scam and fake ico, we have really ready for faced what ico have we joined and invest. Before joining investment on ico project we have filter which one best and good ico to take for investing much money ? not rule and law for owner was scam an ico project because many country have allow for launch an ico project is making illegal transaction and legal protection for costumers have invest on ico project.

[jalaaal]

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?

first, its hard to filter and to know if an ico has an intention of scam.
and there is really no law or any punishment for that. how are you supposed to get them punish if you are not able to know their public information.

[BlakeMye]

No, till now no such possible ways are found to detect the scammy ICOs right away. We have to be very observant, study all papers thoroughly before investing on any ICOs. No actions are till now taken against the scammy ICOs.

[MicaleFalcon]

There are many con artists out there who are getting away by scamming people and the government is trying to come u ways to track them since they are all anonymous. All we can do is to keep our eyes and ears open and be cautious. Currently, there are no punishments for scammers because the users are all anonymous.