Punishment for ICO scams!

[Samtob4]

 We do need a regulation to protect people who invest in cryptocurrency. I think any ico that don't have product no one should invest in them this will reduce ico scam

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[Bittalk12]

I believe that it depends on what country they raised their ICO or where their company is located. Their penalties and charges will be decided base on the law of that country or if those scammers where captured, they will be transferred to their own country for a proper penalties and charges because they are still covered with human rights policy somehow. For me, those scammers should be in jail for the rest of their lives because they are only tainting the image on cryptocurrency all over the world.

[BitkoinJonny]

I read about this some information. And I know that diferent little start-up companies tried to implement this idea. But unfortunately it wasn't success. I hope that somebode create a good way to punish ICO scammers.

[trumper]

I think as long as a legal action is not done, what can we do as a community? I don't know. Lots of people open topics about ICO scams but there are lots of scam ones.

[Sarcasm]

I think as long as a legal action is not done, what can we do as a community? I don't know. Lots of people open topics about ICO scams but there are lots of scam ones.

Yes, maybe they should deposit bitcoin or altcoin to the forum moderator before they can launch
their ICO on this forum.

[bitcoindusts]

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 really don't have any idea at all here.

You see, people who decided to go out of their comfort zone usually ends up the most exciting of them all!

As per the penalty, i doub;t they should be moving around and waiting for this to happen.

[olivia jane567]

That is the problem we are facing now. Currently there are other ICOs trying to solve that problem. I believe in the next 5 years, SCAM ICOs will not be no more. Don't give up on cryptos yet.

[KayceeMae]

 if they allow US residents to participate, this gives US law jurisdiction and misleading investors or wire fraud is a possibility, although unlikely and i doubt we will see more than 1-2 cases over the coming 1-2 yrs

[tanaka collin]

a scam ico will certainly be very detrimental to investors and bounty hunters because they will lose their money and time. but we can't do anything. all we can do is avoid the ico that scam by choosing a good ico to follow. of course, that will help us to be able to avoid the scam ico.

[Cryptolenuj]

Yeah i hope some countries to get serious about this scam new investors are leaving because of this fraudulent scams

[Achilesban]

we know that we cannot punish the perpetrators of scams because we don't know their identity. therefore we must be able to choose the good ico to follow, so we can also get the satisfactory results by choosing a good ico we will also be avoided from the scam ico.

[BTChannell]

The penalty for fraudulent ICO projects is possible only in the United States. Not in our environment. Absolutely no sanctions against fraudulent ICO impossible. On the part of the developers, their main responsibility towards investors is to distribute tokens to investors. And the fact that these tokens are not traded anywhere and are worth nothing, that the "white paper" is not executed, these are the risks of the investors themselves.

[JaoBadjap]

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.

I think when you could identify who the people behind the scams.
and to think where country are there origins.
you could file a case against them on that county.
and i guess its up to the country's law or government on how would they take action
but im not so sure. im basing some of things that i have seen on tv.

[Pamela1966]

People have been taking advantage of lack of regulations for crypto and ripping people of their hard earned money in disguise of ICO but I've heard someone who's much more experienced than I do talk about some guys that got jailed because of ICO scam but I can't recollect the exact fact about which project it is but I'm very sure those guys got nabbed by America and they're are serving jail term as we speak

[Sevarchik]

Its very good thing.
First i can advice make some pulic list of scammer developers with names and photos.
Then any who want invest to the ico look name of developers on this list and if they on the list mark this project red.
Of cource after this scammers use fake developers list, need to contact with him and ask about project. Mostly they say what first time hear abut it.

[Kharz]

Honestly, I have experienced joining bounties of some scam ICOs. They bring bad impacts for many sectors of crypto wolrd. Bounty hunters cannot get their rewards, investors lost their funds and become less trust in other ICOs, and tarnish the good name of crypto forum. However they should get punishment. They must be jailed and give compensation to the victims. 

[elenka n]

In my such people were not, because all such projects use fake documents with addresses and photos ...

[ShamoKe]

How do you punish ICO? Impossible unless the ICO project is regulated. Otherwise, the penalty for the ICO project cannot be achieved. Now ICO is a loophole that hopes to be regulated in the future.

[omonuyak]

Many investors has lose money because of the scam icos and we are not having any penalties for them. I think ico scammers should be punish by imprisonment and that should be up-to ten years.  However,  governments can only support this views if cryptocurrencies is taxable!

[NEERAJ ANAND]

I agree that the owner of scam ICO should be punished but still, there are no regulations to regulate this market there are many ICO which scammed people with there hard earned money and roaming freely regulation is required for punishing the scam ICO.