Punishment for ICO scams!

[makishart]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

I think government is realizing the dangerous of ico for their citizens and they will be putting in ico regulation of some kind in the near future. until then you have to just wait and stay away if you feel it's too risky for you.

That's the reason now most ICO project having a KYC, well, as of now scammers are not punishable because of being anonymous of the team. If you have noticed their team information not all are revealed to their whitepaper. So, it is our responsibility to choose and make it sure not scam project.

That's right, this is why to ask about the legal support of ico will be very helpful. I guess a lot of people are smart i have seen a lot of scam icos have revealed its identity caused there are some ico scam hunters were doing their job very well. I know there was another scam project called phantom.

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[silviyako]

Everything is fake probably even their identities. So how could anyone punish them or even catch them? I don't there has been a case that a scam ico has been punished.

[Zadicar]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

I think government is realizing the dangerous of ico for their citizens and they will be putting in ico regulation of some kind in the near future. until then you have to just wait and stay away if you feel it's too risky for you.

We are already seeing it now gradually where some countries do already make strict implementations or laws that do prohibits about these ICO scams or simply a protection to its citizens itself.
Punishment cant really be put up yet these scammers cant be easily caught out due to almost impossible tracing out transactions. This is why we do see this market being flooded of by those scam projects because they can still move freely.

[aldrin6697]

Its about time to put things in order and legally, there are a lot of scams out there. Someone must create a governing body to regulate the ICOs.

[ponyongie]

Yes, ICO scams should be punished but I don't think there's a way or a law for that. Coz anyone can start an ICO as long as they can build proper marketing strategy and publicity. Let's just accept that investing in ICO should be done with a high risk. That's why we had this "invest what you can afford to lose" coz every ICO, even with a good ICO rating has a possibilies of turning into scam. 😉

[Desscount]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

What kind of punishment do you mean? and how to punish those who run away and run away somewhere. the question is, scammers always use false data including their profiles. so do you think?

[luckybar]

Sadly a lot of these scams are in countries that don't have an regulations so its pretty easy for most scammers to get away without any sort of punishment.

[Merkle_Tree]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

Penalty: estafa. But still depends on country and if they ever arrested.

[deep4u]

Actually there is way for it but its too much complicated and lengthy process, but before you can process this you need to know actual teams name and address to take legal action against them.

[1993jochico]

This year there are lots of ICO's proven that is a scam and some of the most trusted bounty manager get tagged because of them but I never saw or hear a news that those fraud ICO's have caught even 1 of them.

There are lots of victim's including those trusted bounty managers who also dont have any idea that its a scam, I think this will is a lesson for all of us We need to choose a right ICO to invest with also a lesson for those bounty manager to be more strict in choosing what project to promote, we cant blame anyone.

[shinchan123]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

Honestly, there's nothing we can do. However, I think if someone would really like to pursue there's a possibility that those who are behind scam ICOs can go to jail for scamming other people's money. This will cost a lot of money, time and effort, since you will need to file a case and also to find all the people who are behind it.

[lelou]

It depends on the country they "registered" according to their whitepaper but I doubt they really exist in that country, and sadly there's no way to track them. They planned it and saw whats coming before crowdfunding started.

[Bridgetnana]

This is hard. It may take a long time for the legal system to be improved, security enhanced platforms, and more demanding and demanding ICO issues. I believe this situation will be better

[Mancung]

Those scammers cames from several different countries, i think its impossible to track all of them and punish them.. Especially when they came from a country which didn't had a strict rule about ICO. I think the best punishment is to block all of their activities and account in this forum in they have one. And we need a ICO Police maybe, to spot a bounty that promoting a scam ICO.

[fivefingers]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

Punishment or some sort of stuff won't be implemented before the regulation of the cryptocurrency. It comes after. So our best bet in order to prevent scams and frauds would be having a regulating body.

[rockyfeller]

I Wish those scammers will be punishable by law. International sanction will declare there status behind bars for a long time and if billions was scam might as well kill them to death. Because they destroying the life of other people.

[ningrum]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

to date I have never heard that the scammer was punished. the problem is that the scammer is getting more and more. so it really makes a lot of people worry about things like this should be followed up. so as not to fret.

[79b79aa8d5047da6d3XX]

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

They fake everything to scam us. So it is very difficult for us to bring light and subject them to the punishment of the law. Sophisticated data is falsified in detail, people are not real in this life. I hope God will punish them

[AlenDel2]

many fraudsters in the companies holding ICO. However, as long as there is no system to punish them, I offer you a link to the Bitcoinstall, which was made especially for you, the Lord! I happened to find it on the internet, I use it regularly and advise you everything.
https://bitcointalk.org/index.php?topic=4687372.0

[choychoy]

Sadly a lot of these scams are in countries that don't have an regulations so its pretty easy for most scammers to get away without any sort of punishment.

Yeah that's true...investors should also be upgraded and never invest in a project that has no ICO reviews from those ICO rating sites. That was I noticed those with no reviews are higher chances of a scam project. Better to research first on yourself before investing. It's difficult to punish a scammer in crypto and no one had been jailed.