Scam projects, what should we do!

[Litefoxx1698]

This bring us to the question about regulators on crypto market People who against this don't understand that they will clean market from things like this!

[agentx44]

This year we have witnessed many scams projects that we have invest in more than others years.  I think scamming activities is high this year more than others years and I will like to find out the way out of this. Are we going to find solutions for this by developing more security projects? I think we can kick scammers from icos market and if we can not do this governments should come in and help this market.

In my own opinion, even we find solutions for this kind of situation there will be still scam project. Even we ask help to the government they cannot still do anything because they are untrackable. This is the reason why the government of other countries do not accpet cryptocurrency because of this kind of situation.

[pixie85]

This bring us to the question about regulators on crypto market People who against this don't understand that they will clean market from things like this!

They will also bring in more invigilation. You'll never know who has your data collected via KYC process and who he's selling it to. Do you think that there's no scams in a regulated market? Stock exchanges are regulated and there were so many ponzi schemes and scams like the ones by Bernie Madoff and Jordan Belfort.

[Skroojee]

I also agree with the opinion that it is fraudulent projects that lead the cryptocurrency market to devaluation and most of the problems are connected with fraudulent ICOS. It is unlikely that this issue will be resolved on its own. We need help from the government to resolve this issue.

[ssuchy]

I also agree with the opinion that it is fraudulent projects that lead the cryptocurrency market to devaluation and most of the problems are connected with fraudulent ICOS. It is unlikely that this issue will be resolved on its own. We need help from the government to resolve this issue.

today, fraud can be expected everywhere, as well as deception from the state for its citizens. This applies to almost all countries. But the cryptocurrency market is developing quite a lot of fraudulent projects, which are increasingly beginning to steal not only the funds of users of cryptocurrencies, but also personal data, using KYC.

[Supec77]

Carefully study the project, although the scams today on so many competent some things do that people are free to invest money, and then they all throw, you need to here eye after eye,and of course if you do bunty 50 or more companies 100% will Scam projects, as all study will not work for you,and if you are an investor, look at what about this project say professionals that write about it, its rating, the team and all that you can, and then just invest

[Destroyeroff98]

This year we have witnessed many scams projects that we have invest in more than others years.  I think scamming activities is high this year more than others years and I will like to find out the way out of this. Are we going to find solutions for this by developing more security projects? I think we can kick scammers from icos market and if we can not do this governments should come in and help this market.

To deal with scammers is very difficult. If there was a team on the forum that would screen out fraudulent projects. But for this, the Bitcointalk Forum needs a lot of work to do.

[Sacrib]

Year by year number of people that involving with crypto world is increasing.So there are so many type of people coming to crypto world. So i think with this kind of bear markets scam projects can be survive. People will not accept any ico without any analysing.  so i believe this bear market is clearing crypto world from scammers.

As You say.. how cryptos getting more and more mainstream we'll have more and more ppl hoping for easy and "free" money.

[mksundip]

this is certainly a very frightening specter for investors, bounty hunters, and other crypto communities, and this will also have a negative impact on the cryptocurrency market

[Alohadance]

I think that we can't do anything without government. We need official punishment for teams of Scam projects. After it, most of them will disappear. But it should do every government which is probably impossible.

[adolf512]

The problem with fraud projects does exist and this is a sad fact, but I do not think that government intervention can improve the crypto-currency market. There must be some other way out and a solution to this problem.

[Spaffin]

This year we have witnessed many scams projects that we have invest in more than others years.  I think scamming activities is high this year more than others years and I will like to find out the way out of this. Are we going to find solutions for this by developing more security projects? I think we can kick scammers from icos market and if we can not do this governments should come in and help this market.

Here the help of the state is definitely needed. We can not effectively deal with fraud in the ICO, we do not have the capacity of law enforcement agencies for this We can only study the ICO projects more thoroughly and not join them as participants in the ICO generosity campaign so that fraudsters cannot raise funds. In addition, we can interact with information about fraudsters and warn investors about them. In general, this is the pure work of law enforcement. However, to prevent the occurrence of such frauds, states should create appropriate authorities that would check the ICO teams and control the collection and even the targeted use of the funds collected.

[travwill]

We must be a thousand times more attentive and smarter than those who are trying to deceive us. They ALWAYS leave footprints, and we must identify them as soon as possible. It is also very important to distribute any suspicious information.

[Tosin12]

Extra effort on the part of bounty hunters is needed to weed out scam projects, taking a little more time to do background check up for the team and try to find out if the project have a working product can help to determine the ICOs to promote.. On the part of the government, if a panel or commission can be set up to work on how to regulate the crypto business then submit recommendations to the government on what can be done to curb or stop scam projects

[arsenalx420]

I am really very concern that the current year i have seen huge scam project, It really so hard to identify scam project specially for newbies. I think that it is very danger thing of crypto reputation in world widely. So it is the perfect time to action against scammers by authority  unless  it is not possible there any action steps against scam project then so many investor will be facing lose their money from crypto world.

[Troysen]

Openly denounce them is the best thing we can do, since this ecosystem is high risk and not well regulated, there are still no clear rules about certain things, so the best thing we can do is to support each other as a community to denounce these projects and don't let them deceive anyone else.

[SoiledDove]

First and foremost, we must exercise the utmost care. Read up, ask around and Google. Check and double check. You can't be too careful. It's the only way.

[Anatoly339102]

Unfortunately there are a lot of scam projects now. I would like to wish investors to spend more time studying projects, read roadmap. I think sooner or later, governments should regulate ico.

[sergey1301]

Yes, I agree with you. Fraud in ico projects has become much more! 90% ico is a Scam. Before participating in the project, it should be carefully studied.

[Tylev]

This year we have witnessed many scams projects that we have invest in more than others years.  I think scamming activities is high this year more than others years and I will like to find out the way out of this. Are we going to find solutions for this by developing more security projects? I think we can kick scammers from icos market and if we can not do this governments should come in and help this market.

The most effective method of combating fraud in this case is government regulation of ICO projects. Some countries, such as Germany, Japan, Russia, and others, are already developing regulatory acts to regulate the activities of the ICO. However, they are unlikely to come into action in the near future. Considering the fact that the general situation in the cryptocurrency market is very poor now, it will probably be better to suspend our activities as bounty hunters, or very carefully select ICO projects and hope for good luck all the time, since avoiding fraud and other deception ICO commands, such as announcing a KYC check after the end of the ICO, will not succeed anyway.