Reducing scam

[maculeth]

there must be a legal advisor, and an investment advisor before ico is launched in the market. so, investors will be more confident to invest because ico has a stronger fence.

[1714182893]

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[1714182893]

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[setialovers]

I think regulation from the government is not really a good thing to do. It would already be compromising the essence of the decentralization. I think a probably good way to reduce this kind of scheme on the crypto community is a pledge that the developers of the coin would be liable for the scam that may happen. I think this won't happen but I think this should be since they are the one creating it.

ICO different with decentralized cryptocurrency like bitcoin. ICO crowdfunding is a way to find money to fund the project and i think thats need government regulation. Most ICOs is utility token and centralized project and i think regulation needed to avoid scam

[Ayobami99]

Initial Exchange offerings are now making waves as a good (not the best) substitute to ICO. A more transparent and innovative third party or verifier kyc system will be a great addition. Take for example the Kyc system from blockchain application. You can't upload files,  you can only take live pictures. This kind will help identify each project member and hold them responsible in scam or failure cases

[cak imin]

there must be a legal advisor, and an investment advisor before ico is launched in the market. so, investors will be more confident to invest because ico has a stronger fence.

do all successful projects use that? there must be a regulation that binds all ico where before they are released to the market they must pass all the conditions given. each country must make this rule, if it wants investment in the crypto market to be safe.

[harrypotpot]

This requires not only the strengthening of supervision by countries, establishment of a regulatory ico department. but also investors need to improve their knowledge of crypto,when investors have certain knowledge of crypto, those scam icos will be more and more seen through by more people.

First of all, it is the mistake of an investor if they are getting scammed on the platform that they are putting their money into. In that case, blaming the project is not bad at all but the point here is that, why would you be scammed if you are doing your best in order to maximize your profit at the same time, making a safe move in the market? I am not saying that taking risk taking was to be avoided in the first place.

[Natalim]

there must be a legal advisor, and an investment advisor before ico is launched in the market. so, investors will be more confident to invest because ico has a stronger fence.

do all successful projects use that? there must be a regulation that binds all ico where before they are released to the market they must pass all the conditions given. each country must make this rule, if it wants investment in the crypto market to be safe.

Not all, actually only few have good teams, the ICO has to improved, otherwise scams will continue to happen.
The scam is the only problem that make this market look bad, we cannot eliminate them but with proper regulation we can reduce the scams.
IEO is new but it's effective and it drives the investors to get in the market again, one of the reason why the price is rising now.

[ansarose1]

Every crypto enthusiast, bounty hunters and even investors hope that ico scams get rid out of the forum and even in the crypto industry, they don't help pwople anymore rather than scamming and getting time, hardworks, and efforts of every crypto enthusiast and as well as the money ob investors. I hope someday there would be no ico scam.

[Shatterlean22]

I believe since we have IEO now the scam rate will surely reduce and there is a high possibility that ICO is slowly fade away from crypto world,moreover many investors are going after IEO now

[makerst]

It is very cool that there is such a place on the forum where you can really collect scam projects, but the most important thing is that today you cannot search for these projects and their developers. If there was a service that would collect data about the developers of the project and collect them in a chain of blocks.

[kisfoxs]

Strict regulations must be made with the aim of reducing fraud or even eliminating fraud. Indeed, there is no compulsion for us to invest, but whatever fraud is a very bad thing. We have been careful but sometimes we still experience loss. So regulations must be made and the ICO Team must pass KYC.

[Semar Mesem]

Strict regulations must be made with the aim of reducing fraud or even eliminating fraud. Indeed, there is no compulsion for us to invest, but whatever fraud is a very bad thing. We have been careful but sometimes we still experience loss. So regulations must be made and the ICO Team must pass KYC.

Yes right, the team must pass KYC and also have a big money guarantee, if they don't have capital, the project is better canceled, because the project's goal should be long-term, not just collects money from ICO or IEO.

[Leonardo7]

The cruse of the matter is that: We need the government to have an approved body to bring out regulating laws to get rid of scam ICOs and IEOs. Investors need to be protected from all these fake teams and useless set of fraudsters masquerading as blockchain and crypto expert but end up swindling the public fund which has made ICO become unattractive.

[ceetoo224]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

Regulations have nothing can do to support and maintain the orderliness and progress of projects in the market. In fact, they will just going to be a limiting factor in an entry of best projects. In addition, thinking about how to reduce scam is about, thinking about how we can help ourselves to be secure and protected against it. Let's start first with the small unit.

[crzybilly]

Everyone who have participated in promoting of a scam project is responsible for it. The team members are the main threat and they should be written down in a separate thread to protect another investors from taking part in such projects.

[anatolij.shishkin]

And you do not participate. If the project is all well with the documents. Even if the team members have passed the identity verification procedure. But alas, they decided to deceive everyone. And why should you respond when such projects are 90%

[taratorly]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

There's a very serious problem here. The logic of cryptocurrencies was uncovered to be completely decentralized. (I know there are others in the opposite case) Now that there is a legal intervention, this decentralized structure may be corrupted. However, it is a fact that even legal regulations can limit this order to some extent. Bad people can always find a way the create SCAM!

[Twinkledoe]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

There's a very serious problem here. The logic of cryptocurrencies was uncovered to be completely decentralized. (I know there are others in the opposite case) Now that there is a legal intervention, this decentralized structure may be corrupted. However, it is a fact that even legal regulations can limit this order to some extent. Bad people can always find a way the create SCAM!

Exactly true. Scammers are everywhere even without crypto. And now, they see big potential here in crypto because they can launch their scam projects anonymously, without legal ties to anyone. And if you are an investor, small or big time one, you have the sole responsibility to your investments. No one else is to blame if you lost your money. That's the way it is.

[Mrsparks]

The shortcomings of majority of the ICOs in recent time really warrant regulations. Some of this scams are well orchestrated to the extent it is almost impossible for one to suspect. Velix ID for example has really caught my attention, this is a project that claim to make hardcap yet no exchange listing after months. Crypto needs regulations for it to ever gain mass adoption

[Adriano2010]

I think the scam can only be reduced if people will research more and more before investing on something, but this will take time, but always better inform first and only after invest if is a good project.

[Huntler1993]

It won't be easy though but something could be done to reduce it intensity. Scam projects are evolving each and every single day and SEC could help with many. Investors are now scared of the system and if drastic measures aren't taken things might get worst.