Reducing scam

[Yamifoud]

I think its time that ico needs to be regulated.  The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam

Maybe we shall wait the board to finally decide and approved the propose SEC regulations, and this will be the time that we can stop scam project into at ZERO level. For this time, as a member of the crypto community, only we could help is to give awareness about scam project and hold investors to not get involve with.

[shimbark123]

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.

I think that IEO solves the problem of ICO .The idea of IEO makes investing great again in cryptocurrency.

Last year, investing in crypto was shit. Bearish market, ICO scams are everywhere. But, with IEO you can invest your money in a legitimate project. But of course be sure to know the project as well.

[itasannah]

Indeed, we are not forced to invest in ICO projects. This also makes many people look angry or disappointed because there are many fraudulent projects. Regulations that may already exist so far are not enough to make fraud disappear. But all decisions also depend on us to be more careful.

[add1ct3dd]

I think its time that ico needs to be regulated.  The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam

Maybe we shall wait the board to finally decide and approved the propose SEC regulations, and this will be the time that we can stop scam project into at ZERO level. For this time, as a member of the crypto community, only we could help is to give awareness about scam project and hold investors to not get involve with.

Yup, and also we investors should be aware in every scam ICO projects not to be involved and stay away from every of this scams untill SEC approved that every ICO need to be regulated

[secdark]

I guess, since a lot of investor have an account here in bitcointalkforum why we should do regulation and standard before getting to advertise here. The team here shouldnt give freedom here to post about their project,  they must do kyc or anything that secure that they will no run away from the bounty and investor. Have enough legal papers, something like that

[bitsurfer2014]

I think its time that ico needs to be regulated.  The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam

I agree. One thing that could surely reduce or discourage scam activities is to apply the full force of the law whether internationally or locally. In this way, it will make the perpetrators think twice because such activities are tantamount to fraud involving millions and millions of dollars and its high time that Governments should take necessary actions to protect the welfare of all investors.

[5ensei]

Scams will always be there if people keep falling into their traps. With the increase in EIOs the number of scams will fall as investors switch to ones that are verified by exchanges and will actually list their coins. This is better than ICOs which may of may not get listed

[DeepChipolino]

In addition to the vigilance of each cryptoinvestor, it would be nice if the organizers, owners, guarantors provided their comprehensive data for the community. Something like KYC for developers. In this case, no one would support scammers.

[EvgenOrel]

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.

It will be very interesting if a certain legal basis is created in the crypto market to protect investors. But this is unlikely to happen in the near future. Therefore, investors themselves need to be more attentive and smarter, because they risk their money. You must be especially careful about the choice of projects for investment.

[Chinsmokers]

The fact that it is very difficult  to delete some scammers they always find an improvise way and they always try different method or things and find out how to scam again a new people in the crypto world. It is better way to prevent a scam if we are going to be picky of the actions that we are performing.

[8rch7]

when KYC became one of the solutions to prevent many participants who were considered robots, they could not be trusted. maybe regulation can be one solution to prevent many ICOs from being scam. By requiring a kind of permit or certificate of eligibility to hold an ICO, it might be able to suppress the number of ICOs that are scam. this will also be an advantage for ICO organizers, that is, the project will gain the level of trust from potential investors.

[Freescan]

it's not easy to reduce fraud in this digital world, they always grow and won't stop doing that. but we as users can only avoid that bad thing and no more than that, fully I don't really know the laws that apply in this forum for fraudsters ico.

[daporivera]

It is very difficult to reduce scam in the crypto world, but if it can be reduced it would create  a safe environment for everyone. These scammers are on the look out for the slightest opportunity to scam people of their hard earned money. A regulation will always be needed to reduce the rate at which investors and majority are scammed.

[Michelle007]

I bought Bitcoins in September 2018 through EITExchange and the funds were guaranteed by an Insurance Guarantee document, I received daily phone calls from Ben Waltman, received daily reports which reflected on the trading platform. The funds were "invested into the platform for 12 weeks, when I tried cashing out my Bitcoins only to find out EitExchange had many issues and told me that I could only get my funds on the 20th of April 2019, only to find out that the company does not exist anymore all contact numbers, email addresses and Skype addresses were deactivated after 10 months of daily contact, this is clearly another Bitcoin Scam company. Is there any Cryptocurrancy Protection Body that can assist me to recover my funds?

[bitstalker]

in my opinion there is no way to deal with this even though if possible one way is to make a crowdfunding institution in the crypto scope but that covers all countries so every time an ico might have to go through their permission, but unfortunately that is impossible because some of the crypto regulations are still lacking clear and crypto crowdfunding is very promising which is why scammers don't stop

[De_nis]

There used to be a good landmark, on the famous ambassador in the world, but as practice has shown, this does not always work

[ccryptopark]

They have blockchain forensics and cyber security teams like Ciphertrace that work with exchanges to help reduce this. Binance just partnered with them

[Mikell556]

in my opinion there is no way to deal with this even though if possible one way is to make a crowdfunding institution in the crypto scope but that covers all countries so every time an ico might have to go through their permission, but unfortunately that is impossible because some of the crypto regulations are still lacking clear and crypto crowdfunding is very promising which is why scammers don't stop

Why invent something not typical of the cryptocurrency market.
Now the IEO is held on the exchanges - this is a great way to collect investments with new projects. IEO has already strongly pressed ICO from the cryptocurrency market.
Many promising projects are queuing up at the exchanges in order to conduct an IEO on their platforms. Here are just bounty hunters from this will only get worse.

[rarkenin]

They have blockchain forensics and cyber security teams like Ciphertrace that work with exchanges to help reduce this. Binance just partnered with them

It is understandable the strategic moves by the biggest exchanges for protecting their reputation and customer funds. Binance is losing on IEO war on last days and they should do something.

[youdacapt]

Obviously there is no compulsion to invest in the existing ICO, therefore accurate analysis is what we have to do so that we do not enter the ICO who have problems, but it is indeed very difficult to find everything but don't worry because in this forum too many people active in assessing a project so that it can become our handle.