Punishment for ICO scams!

[Dianaarrah]

It's not possible to punish them, it will depends on the country if their people who joined their project will file a complaint that they are scammers/theft. This is the reason why some projects are avoiding some country who has very strict on their law, it's a strategy.

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[Aizhen05]

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.

But we see it is hard to punish the scammers that creating a scam project because of their disguise. Some of  the scam  ICO the team are having a fake account and their platforms are only copied in other projects.

[kingdomofhearts]

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.

How can they be caught and even more so, be punished when there is not a single body directly overseeing the cryptocurrency? This is one of the dangers of decentralization and free market.

[komjhq]

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.

How can they be caught and even more so, be punished when there is not a single body directly overseeing the cryptocurrency? This is one of the dangers of decentralization and free market.

It seems to me that for fraudulent ico companies are punished only by members of Bounty company and bounty managers, For disseminating information, because real villains are not caught. And nobody cares that they can also be victims of scammers. The color of the account is not fair. In such cases.

[buriks]

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.

How can they be caught and even more so, be punished when there is not a single body directly overseeing the cryptocurrency? This is one of the dangers of decentralization and free market.

yes it is a high risk in cryptocurrency that we face, we must be careful in choosing the projects that we will follow and should I think possible, bitcointalk moderators should tighten the posting of new threads

[mari12]

It is hard for them to be punished, seeing that most of them do not even get caught in the first place, and even go ahead to scam people again. It would be best if a regulatory body was set up for ICOs. At least with that, Scam ICOs could be easily detected and the creators could be punished. Maybe place a ban on them and every would be cautious to do any transaction with them.

[owlman]

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)

How can you punish scammers if investors give them their money? In fact, there have been cases where organizers of fraudulent projects were put behind bars.

[Cryppp350]

Since one of the main signs of the crypto currency is decentralization, it's very difficult to find scammers!
This is a very negative trend because scammers becomes more and more!

[dupee419]

Yup, this should be punishable, scammers can easily get away with scams like this, be there should be a punishment for scams like this, it's a big waste of time, and a waste of money as well, I hate to see ICOs getting away with this kind of agenda, there should be a punishment for this.

[mightwalker]

You cannot punish them at this time. Because of anonymous. Almost of scam ICOs do not reveal the team or fake teams. Hope investors will experience from this.

[Everglow]

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.

I agree because before participating in any ICOs, they always have a Terms and Conditions which include all of the possible situation with their project, and we had to accept them.

[Dumlooke]

Indeed, ICO tricks ought to be rebuffed however I don't believe there's a way or a law for that. Coz anybody can begin an ICO as long as they can manufacture legitimate showcasing system and exposure. Allows simply acknowledge that putting resources into ICO ought to be finished with a high hazard. That is the reason we had this "contribute what you can bear to lose" coz each ICO, even with a decent ICO rating has a possibilies of transforming into trick. 😉

[cryptobiolog]

Punishment is under article "Fraud". If the company conducts ICO, attracting other people's money and does not use them for the development of the project, such actions can be qualified as fraud. But there is a need to find and prove...

[Rejinx]

I determine epitomizing at once we decent castigate them with social castigating, it only by reason of distinct of body plan is a amiss man, and whether they are corporeal person its so exacting to throng evidances to sue them

[MyCryptoCap]

There is no punishment for fraudulent ICO projects, but for the fraud itself. If this fact is proved, the punishment will be under the criminal code.

[vrabac68]

Well i believe that half of them had fake contacts and locations and dont know if they will ever return the money back to investors. Hard to see but its so sad that hard earned money you cant return.

[Bay_Harbour_Butcher]

ico scamer is indeed very annoying and has caused a decrease trust in crypto, but it is very difficult to punish ico perpetrators, because the crypto world is very anonymous so it is very difficult to track, hopefully in the future, there is a solution to this problem

[Psynthax]

I did not hear the scammers being punished. Probably it is for some reason impossible. Although byloby beautifully, there are fewer mossins.

Not much punishment for the moment, or at least not enough to be a deterrent for new scammers. The SEC acts very little, not to mention the police of any country.

That's simply because it's hard to catch them and most of them are faking their identity anyway it's like when peolpe are scamming through some kind of market place, however if the amount that got scammed is quite huge the police will probably take an action upon the report
but afaik when it comes to ico project if they dont comply with regulation they will be closed down immediately, only offshore ico that's usually turn into scam.

[Marioboro]

There are laws which can be applied to ico scams. You may file estafa charges in your jurisdiction as long as the entity is within the powers of it. Otherwise good luck with filing those cases. They cannot be punished unless they are charged with cases.

[andradwi]

hay the bounty hunter. be careful of invest allcoint .. where is the biggest year where many scams and they are not responsible for what has been done. we feel bounty hunter where we cannot enjoy the results of our labor.I hope that there will be a legal umbrella that can cover ico's investment. because now a lot of scams or fraud