Punishment for ICO scams!

[fulled]

I think for now we just can punish them with social punishment, it simply because many of team project is a fake person, and if they are real person its so difficult to gathering evidances to sue them

[nambunamba]

I think no ico scammer has been brought to justice uptil now but many cointries are busy in setting rules and regulations where only legit ones will be allowed to raise funds and the scammers will be caught and punished.

Yes the protection to investors are really low, Even bitconnect CEO is seems like not getting on jail. We do need a regulation to protect people who invest in cryptocurrency. I believe ETF will be approved by SEC. approvement fro SEC means that they do care and concern with crpyotocurrency and trying to protect the investors from a bubble.

[Everglow]

Just do a carefully research before investing or even participating in bounty campaign of any ICOs. The easiest part is do a research about their team. But ICO now is not governed by the law, it's hard to Punishment them.

[louie69]

I had been involved in my previous signature bounty campaign wherein we had finished the campaign for more than 2 months and the bounty manager had just informed it's not his fault and it's the team member's of such ICO's fault since they had left the bounty hunters out of thin air. Therefore, prior to these scam ICO's being accepted by the bitcointalk forum, they should have a contract signing that these ICO should be liable for any shortcomings and should have to pay the bounty hunters token they deserved to have just to be fair since bounty hunters had worked for it.

[bituperio]

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)

It is no different from any other criminal activity. If the get the money and run, it is a fraud and will be prosecuted. If it is just a bad team and poor business... there are no laws against that I am afraid.

[cityhall]

I had been involved in my previous signature bounty campaign wherein we had finished the campaign for more than 2 months and the bounty manager had just informed it's not his fault and it's the team member's of such ICO's fault since they had left the bounty hunters out of thin air. Therefore, prior to these scam ICO's being accepted by the bitcointalk forum, they should have a contract signing that these ICO should be liable for any shortcomings and should have to pay the bounty hunters token they deserved to have just to be fair since bounty hunters had worked for it.

Agree with you.  Maybe they should have to deposit some bitcoin or altcoin to the forum moderator before they can launch their ICOs on this forum.

[Jammypoe]

Set any net to catch them, they will glide through it. The system is wired in such a way they the best way to be free from such sad takes is to conduct a background check on any potential ICO one intends to join.

[Bezobraznike]

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)

It is no different from any other criminal activity. If the get the money and run, it is a fraud and will be prosecuted. If it is just a bad team and poor business... there are no laws against that I am afraid.

   Before making accusations people should stop and think. Not every failed
ICO is a scam, some of them just didn't have knowledge for realization of their
idea.
   I don't blame them, they had idea but they didn't have enough power to make
it real. Before anyone make any investment should check ICO first. Don't call it
a scam if you didn't earn money in two days
   People doesn't know what is ICO and what is scam, people should learn a lot
before investing money.

[unusualfacts30]

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.

[milani]

It is better to prevent than punish. How can we punish someone in case it is really hard to find these people sometimes, using their fake datum? It would be better to make some control group on this forum that will professionally check the project before the ICO start. And of course try to be more attentive and careful before investing somewhere.

[Reatim]

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 should get what a criminals gets, jail time and give the money back from its investors. We saw Bernie M. did and he was sentence 150 years for his act. Government's shouldn't be lenient and the full hands of the law should be served.

[susila_bai]

This is what almost all big country are started to regulate the laws against the ICO scams, That is what all government are fearing of the fraud and scam of all ICO are doing it. This is the reason why almost most of the country have made illegal to use crypto currency and they have given clear guidance of after regulating it they will start the crypto currency process.

[Capt00]

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.

[Abeycity9917]

There is no penalty for now. But there should be to promote the  coin for it to have value

[odessit1377]

Click on today's not worked out the legal side of this moment. No one took responsibility for this type of crime, because at the state level, there was no responsibility for such a crime.

[rdny]

I think these projects are called scams because you were led to believe that they will be successful. But i think lies in the notion that whenever you invest, you will reap something in return. Investing has relative risks and rewards. Investing, even in a normal business does not guarantee you assured profits. The greater the risk, the greater the reward. You can only hope to recover your investment and earn a little profit, but you do not expect that everytime you invest, there will be a profit. There are times that you will encounter some losses.

[asdlolciterquit]

Yes, many countries have started to draft regulations on ICOs. Hopefully this will help lessen scams. In addition to that, a project called Menlo One is launching its ICO listing marketplace within the year also to help weed out scams and provide legit projects the funds they need. This is their site and whitepaper: https://www.menlo.one/

do you have any info about which country have started to draft regulations on ICOs?
do you think that we can have something before 2020?

[Nidhi Bhatia]

Till now, there is no rules and regulations to punish ICO scammers. But really they need to punished because they fool around us. many people associated with scam bounty and all are suffer. According to me, there are some fixed amount punishment for all scammers like fine of heavy amount.

[Iwillgotothemoon]

You can't punish scammers, unless you supervise the issuance of ICOs and let them pay a deposit, otherwise they can't be supervised. The cryptocurrency is anonymized and therefore cannot be regulated.

[ityandsyn]

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 it's very difficult to give sanctions and penalties to these people since we are all anonymous here in crypto industry and no government bodies controlling on us ,though the highest penalty that possible to be impose by the Bitcointalk forum is a total ban of the account of the manager or a lower penalty of negative trust .