Punishment for ICO scams!

[tisumagic]

Most ICO scams use identifiers as well as fake addresses, so it is very difficult to find them to be punished. ICOs are not scam, they must comply with legal regulations in some areas.

at least we can take part in the ICO project which in that country must do a KYC especially for the teams that hold the ICO, to be safer and can guarantee that the ICO is official and has obtained permission from the government

[Siren]

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 want those damn scammers to be filled and squeezed with lemon in their whole body alive and must be burned to death as they have nothing to help this world but greediness

I am once a victim also of this shit and the feeling is very uncertain because I cannot believe that all of my efforts has become worthless and unpaid

[Alliipp]

I agree if it is implemented like that, especially for managers who have a high rank and do a scam when ico. this makes many people who will leave trust in him.

[ravijadon12jan]

I don't think there is any punishment for ICO failure. That's why ICO projects are risky to invest and need thorough research before investing a single penny in it. Unless ICO project guys doing something illegal or fraudulent, they can't be held guilty for failure of a project. In fact this is the first rule of starting investment in the crypto space, you need to do your own research and even then you should be ready to accept the fact that you can lose all your invested amount.

[audyearls]

for sure, the team that carries out the investment money must return the money to investors who invest in the ico, and for the punishment actually we have no right to decide what punishment should be applied to the team, let the authorities deal with the matter and let the party the authorities decide the punishment for the team, because each country has a different legal system.

[Gekkoo]

I think nowadays, the ICO SCAM a good part of them end up seeing their idealizers with problems with the justice of some place! But 1 or 2 years ago there was hardly any punishment! The question is the way they are collecting, it may seem like a lie, but ICOs were previously made in BTC and not ETH. There are many projects, such as EXSCUDO, which raised millions of dollars and delivered a weak product.

[Anita1873]

It is a necessity now as many ICO are going scam and peoples hard earned money going in vain. If a regulation comes in effect regarding punishment of scam ICO then no one will try to scam as he knows that he will be punished.

[antran123]

Unfortunately the ICO is not regulated by anyone and the scammers use this opportunity to raise money. I think in a short time will begin to regulate the conduct of the ICO and not allow fraudsters to raise funds.

[brjameng]

If it possible to find any people who making those scam project, that would be convenient for us to give punishment to them.
I think most of us here will be wishing to give them (scammers) the punishment they deserve since the are stealing so many things, not just money but also trust.

[Thesaintplague]

The best punishment for fraudulent projects is not to give them your money as an investment. We need to learn how to determine the future of the project and its possible fraudulent implication. The ICO project should be an officially registered company, and the development team should be real.

[brentkyle]

I hope that there will be literally justice to those people who scam other people into investing in their ico even though they'r not real! They should be turned into the authorities.

[geopolisch]

Most ICO scams use identifiers as well as fake addresses, so it is very difficult to find them to be punished. ICOs are not scam, they must comply with legal regulations in some areas.

at least we can take part in the ICO project which in that country must do a KYC especially for the teams that hold the ICO, to be safer and can guarantee that the ICO is official and has obtained permission from the government

KYC is not necessarily a guarantee that a project will not end up as a scam. Although as it is, KYC for the team or will I say in this case KYT(Know Your Team) is something that the likes of ICOBench has been doing on their platform to verify the team identity and make the investors more confident on at least investing in the project. Scammers on the other hand will never reveal their true identity as that is certain.

It is more like you going against the law and then pronouncing to the whole world your identity, and in that case, it would be like you trying out all means to find yourself locked up. The best thing is for people to try as much as possible to know how to avoid scam themselves.

[Sissebrahima]

The inevitability of punishment for fraud must be strictly. In order to determine ICO fraud, laws must be created in each country that combat crypto fraud. If a crypto really exists, it is necessary to give it a legal assessment and go out in a civilized way of communicating with crypto.

[super5star]

Most ICO scams use identifiers as well as fake addresses, so it is very difficult to find them to be punished. ICOs are not scam, they must comply with legal regulations in some areas.

Obviously, no scammer will definitely end up revealing their identity when they know what they are doing is absolutely against the normal rule of law and it is a punishable offence if caught and in that regard, they try as much as possible to hide who they are and make sure they cannot be traced to anything at all.

Although, we have heard of some who did some scam shit and ever since has been on the run, like one Confido project I invested in a while back, which was the first and only scam project I ever would have fallen for anyway.

[zulkarnaen]

The best punishment for fraudulent projects is not to give them your money as an investment. We need to learn how to determine the future of the project and its possible fraudulent implication. The ICO project should be an officially registered company, and the development team should be real.

Yeah, I don't think that those scammers out there have received any punishment because of their irresponsible actions. Because they cannot be tracked, they use a fake account, fake ID, and other fake information. So, the only thing we can do is just learn from our experience, don't invest your money in any suspicious projects.

[Antiplus999]

Most likely now it is very difficult to punish scammers, since there is no regulation of the market and no one is controlling the market.

[coinnumber]

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)

Bockchain is decentralized meaning no third party to be involved in any transaction and those scam ICO project does not show real details of the project teams so it will be very difficult to punish or trance people whom you know not about. The best thing is to be very careful to avoid be scam.

[burdagol12345]

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)

Agreed for hard punishment who scam in cryptocurrency and launching ICOs only for crowd funding and after that cheating investors emotions or fund and losses their hard money. I faced many ICOs and lost my principle amount to invest in them. Just to prevent  producing scammed ICO's.

[BusWay18]

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)

Do you know why government Chinese has ban crypto? Cause many Ico token from them and a lot of people has scam...now crypto has ban in there...scammer go outside Chinese with same method....Ico token...

[Rossy Akbar]

well, I mean no one will hoping to get an ICO scam, but we clearly don't know before we join it. They make a fake account which is reallyy hard to find out, Let's just hoping that any necessary people in bitcoin could talk about this, and make any kinda punishment.