between whitepapper and reality

[gbale]

I see a lot of fake ICOs that are on this forum and have taken a lot of casualties.
many investors lose their money.
they offer tempting benefits but in the end they cheat and it's clearly against the law.
how can they get away with this forum and this will make crypto electability destroyed.
sometimes I ask whether there is a legal legal umbrella to protect investors where they complain and whether there are legal sanctions for those fraudsters.
and I want to see your opinions and solutions about this.

[YuginKadoya]

This is unlikely unpredictable in the case of people that are just joining blindly for a good come back of money, Aside from the whitepaper I really think that researching the developer and the management team thoroughly was a good thing to do, And the ability of scammers was way on a level that even the veteran bounty hunters can not assume that it is just a scam and not legit for them because they may use fake ID's of people that are well-known in the industry, So to speak there are just ICO that is legit and true to their investors but suddenly need to pull out their ICO because of not reaching the hard cap or soft cap of their project, So we can not really assume any ICO can be a 100% reassurance of a success.

[Marcel666]

ICO investments has become such a huge risk that only few investors are willing to take.
Every project just make promises of a better future oh the blockchain technology with a glowing whitepaper and road map, and sadly there is no sector to ensure they keep to their promises, as some are exit scammers. This is one of the reasons regulation is necessary.

[skovbitcoin]

I am also interested in the answer to this question. As far as I know, people who lead fraudulent projects generally have problems with the law on financial fraud, they are tried, imprisoned, and so on. But what to do when I am 100% sure that the project is scam. To complain?

[Gozie51]

But what to do when I am 100% sure that the project is scam. To complain?

You most likely don't have an authority to complain to and your money might not come back because I don't see any regulation yet.

What you can do if you suspect or sure, is to raise a thread on scam accusation board, here... https://bitcointalk.org/index.php?board=83.0

[kindbtc]

You are right but there are different kind of cheaters, for example some of them launch a project simply with the intention of scamming, some intentionally keep delaying the progress and development and doing so drops the investor confidence and their token looses value, some are just poor projects with no practical use cases or market so such projects fail with them and the team and investors slowly accept that they are going no where so the project comes to a halt, i think all these are different types of cheatings where the investors are always at loss, there should be some regulatory framework where investors can be refunded if the project is found to be falling in any of above cheat categories.

[ashmodeus]

I see a lot of fake ICOs that are on this forum and have taken a lot of casualties.
many investors lose their money.
they offer tempting benefits but in the end they cheat and it's clearly against the law.
how can they get away with this forum and this will make crypto electability destroyed.
sometimes I ask whether there is a legal legal umbrella to protect investors where they complain and whether there are legal sanctions for those fraudsters.
and I want to see your opinions and solutions about this.

well
interesting
as far i know ,
forum have no special actions about such things.
of course on forum have special person to judging something like that,
but , u know , since a millions ico come ,
its very hard to finding them one by one.
btw, dont judge to forum, because that not 100% mistake from forum
actually the point about it just from investor self, i guess.
research and research before joining , about profit ,
we can talk if their project success,

[bigcash2011]

The solution is strict rules, regulations and registration and kyc of each and every ico and the people behind these projects and also ico funds in some third party regulator so that in case of scam or fail remaining funds can be returned to investors.

[ashmodeus]

The solution is strict rules, regulations and registration and kyc of each and every ico and the people behind these projects and also ico funds in some third party regulator so that in case of scam or fail remaining funds can be returned to investors.

well
u mean the team also must registration of their data ?
sounds good,
but to who data must be given ?
lets say to third party, and the question ,
who the third party ?
must be super people
well
I think the simple of this solution its using DAICO system.
but i little suprises,big project never using that system,
i just know ABYSS so far.

[Qiuyue201]

I see a lot of fake ICOs that are on this forum and have taken a lot of casualties.
many investors lose their money.
they offer tempting benefits but in the end they cheat and it's clearly against the law.
how can they get away with this forum and this will make crypto electability destroyed.
sometimes I ask whether there is a legal legal umbrella to protect investors where they complain and whether there are legal sanctions for those fraudsters.
and I want to see your opinions and solutions about this.

There was no solution because there was no any regulation that regulated the development of icos. remember all of these money are holding directly by these icos creators. As far as i know the fact that if there was a project that change its roadmap and it can be considered as a scam dude.
So many project has been doing this thing.

[gbale]

I see a lot of fake ICOs that are on this forum and have taken a lot of casualties.
many investors lose their money.
they offer tempting benefits but in the end they cheat and it's clearly against the law.
how can they get away with this forum and this will make crypto electability destroyed.
sometimes I ask whether there is a legal legal umbrella to protect investors where they complain and whether there are legal sanctions for those fraudsters.
and I want to see your opinions and solutions about this.

well
interesting
as far i know ,
forum have no special actions about such things.
of course on forum have special person to judging something like that,
but , u know , since a millions ico come ,
its very hard to finding them one by one.
btw, dont judge to forum, because that not 100% mistake from forum
actually the point about it just from investor self, i guess.
research and research before joining , about profit ,
we can talk if their project success,

I do not blame the forum and instead I invite you to find the best solution for the progress of this forum and the crypto world.

[krassy]

It is necessary to develop a system of reliability , which will allow to exclude a number of unfair projects from the list of investors, will save our money and trust to the scheme of ICO. Perhaps it will be a KYC for projects, in which the project representative must register himself before posting announcements about the project on this forum and conduct their ICO.

[Psec]

This is the problem we are having in this industry, ICO is not regulated and there is no legal backing for it. This why an investor must be very careful before investing his hard earned money in thin air.

[Crypdon]

There is no protection and there are no sanctions which is why they call it the wild wild west. People invest at their own risk, even if the ICO project team are unverified. Entrade is a verified company so you can invest there with confidence

[seo-maestro]

I trust ICO's WhitePaper only if I know some people in the developers or leading team and their abilities. If I don't know anybody in the team I skip project and don't read WhitePaper because there are too many scam ICOs now.

[bney]

Yes, it can be changed according to the rising os funds. If the investors and community weak the project can be totally dead. so if your going to join Ico  you must find a better project  

[auroboros]

I think everyone hopes like that, but it is not an easy thing, we all still have difficulties in detecting ICO scams earlier and the law for criminals about crypto currency is still very minimal, and this is what criminals use to gain profits from crypto currency, believe everyone hopes like that, and I'm sure there will someday be a security revolution against crypto currency business

[Tigerw]

I think everyone hopes like that, but it is not an easy thing, we all still have difficulties in detecting ICO scams earlier and the law for criminals about crypto currency is still very minimal, and this is what criminals use to gain profits from crypto currency, believe everyone hopes like that, and I'm sure there will someday be a security revolution against crypto currency business

It seems to me that the documentation provided by the developers must be paid attention in two ways, since we must be sure of the accuracy of the information provided by the developers of the project.

[JuliaJi]

every whitepaper what I read impress me, it so promissing and perfect, but reality is not so good in 90 % times

[agustina2]

I see a lot of fake ICOs that are on this forum and have taken a lot of casualties.
many investors lose their money.
they offer tempting benefits but in the end they cheat and it's clearly against the law.
how can they get away with this forum and this will make crypto electability destroyed.
sometimes I ask whether there is a legal legal umbrella to protect investors where they complain and whether there are legal sanctions for those fraudsters.
and I want to see your opinions and solutions about this.

There are ICOS that is registered by SEC. If the investors itself take care of minimizing the risks then they can considered those ICOs who are on these regulations. If case of a failed one, those projects are bound to returned the money of their investors because that is part of the law.

But in reality, investors are just throwing away money without proper research. In case of scam, they are left with lots of question in their head.