What to do if you are deceived?

[kalstarzz]

maybe in the meantime when I was deceived I couldn't do anything, but there were some suggestions from my friends to report it to CIE whether it could work or not. I haven't tried it yet.

[Nastinmel]

I do not think that responsible people can be punished especially in our industry. Spend some time by researching any ICO in what you are going to participate in and within some time you would be able to detect scam projects.

I believe scammers will be punished by the law or karma! But the experience has shown that most projects are really aimed at the honest work, but they lose because of many difficulties and conditions of the market

[dumplingsandsushi]

I've been scammed before, it was Titanium.
It was an ICO that started Dec 2017 and reached their hardcap in jan.
Their token hit exchanges and was worth 3x ICO price with high trading volume and demand.
Everything was looking great.
And then, someone hacked in and "stole" the companies funds.
Lots of controversy and unnanswered questions, but they reissured a newly branded token to all hodlers so it seemd ok.
Then, the ceo, Michael Stollery, gets arrested for fraud and the whole thing gets shut down by sec.

Here's the thing, I actually did my due dilligence beforehand.
I actually did reach out and had some conversations with the devs.
Everything seemed to check out.
Sometimes you just really get screwed over no matter how careful you are.

[fosco333]

I think that this is becoming more and more common lately, so what can we do to ensure that responsible people can be punished?

I think the easiest thing to do is to contact the developers before investing or before you decide to participate in the bounty of this project. You need to contact directly by phone, if it is specified or it is best to go and look at the address indicated on the website, is there really such a company. If this is not possible, but create a theme and ask people to find out if there is such an organization or people.

In general, by any means to identify the identity of these people. As soon as we can add personal identification, these people will not be able to just fool us. Because you can write to them in the police under the article fraud.

The most important thing is that today there is everything necessary in order to really find and punish the people who are deceiving us. I think it's time for us to start doing it, otherwise the ICO may die.

If you have any other suggestions, I will be glad to hear them.

Yeah true. Because many fraud ICO's, investors will afraid and won't come investing and ICO will die someday.
Personally, i think it will be better to make some platform for holding ICO. ICO companies need to submit the KYC of their team.
So, the investors will have a better guarantee that their money won't be scammed because it is the real ICO.

[Outlander]

Thank you for your advice. I will try my best to perform this work before investing. But I am convinced that most of the anonymous ICO projects are scams.

[bezzler]

Being scammed is really painful, but since there is no actual way to give punishment on them who create those scam project. For me i just let it go and tried to fine another project that should be better and it's an honest project.

[Sarisang]

I don't think it's easy to find them because they will run away to the other place and change their identity. We don't know if their profile in the website is the real identity and they can easily to change the status to someone else. I don't want to call them just to make sure they won't trick us because we are in the online life which we don't know who they are.

We should not risk our money to invest in their project if we cannot accept the risk behind of the investment. I am afraid that is what we will get when we want to invest in any of project, and we must understand that only a few projects that still legit.

I agree with you. finding them is not an easy thing to do. even most likely also all identities that they provide on the websites are not themselves and fooling with this on crypto is certainly easy to do.
actually, good research and analysis will be helpful in the selection of ICO and this I think is lost on investors. When it was hit by the scam, had da hope again and make it learning.

[amaterazu]

Identifying a genuine or fake project is certainly very difficult. And when I was hit by fraud, of course, it was a loss for me. But before I decided to join the ICO project I examined it from various aspects. And if the ICO project has a membership that can be contacted as an e-mail, I will definitely contact him.

[MeongElek]

 

Identifying a genuine or fake project is certainly very difficult. And when I was hit by fraud, of course, it was a loss for me. But before I decided to join the ICO project I examined it from various aspects. And if the ICO project has a membership that can be contacted as an e-mail, I will definitely contact him.

Actually, there are many aspects that we must know before joining ICO. This is of course to avoid various frauds. When I will join ICO, I have to know the company's background. When they display via video and other shows about their company, then I will trust it more.

[ethereumhunter]

I think that this is becoming more and more common lately, so what can we do to ensure that responsible people can be punished?

I think the easiest thing to do is to contact the developers before investing or before you decide to participate in the bounty of this project. You need to contact directly by phone, if it is specified or it is best to go and look at the address indicated on the website, is there really such a company. If this is not possible, but create a theme and ask people to find out if there is such an organization or people.

In general, by any means to identify the identity of these people. As soon as we can add personal identification, these people will not be able to just fool us. Because you can write to them in the police under the article fraud.

The most important thing is that today there is everything necessary in order to really find and punish the people who are deceiving us. I think it's time for us to start doing it, otherwise the ICO may die.

If you have any other suggestions, I will be glad to hear them.

Yeah true. Because many fraud ICO's, investors will afraid and won't come investing and ICO will die someday.
Personally, i think it will be better to make some platform for holding ICO. ICO companies need to submit the KYC of their team.
So, the investors will have a better guarantee that their money won't be scammed because it is the real ICO.

I think ICO will not die because ICO is a way to introduce something new to the public and it's a way to attract an investor to invest in the project. I am sure that there still any good project that could survive and continue the project and they will not makes the investor disappointed with the project. This type of project will reach the success someday because they are careful with the project and of course, with the investor too. But I don't deny that right now, there are many ICO becoming a scam because the dev and the team only giving promises without any proves and say be patient.

[dobolspeed3]

What I did when I was fooled. Of course there is nothing we can do about this problem. Because of course this is actually not our will. Therefore, before investing, of course, you are sure and analyze in advance the project you want to invest there. So that nothing happens called fraud.

[maligu]

I have also been deceived. But here is the world of cryptocurrencies. No one will pay for your wrong investment. Although I lost a lot of dollars, I still believe in the future market of cryptocurrencies, so I will not give up support for cryptocurrencies.

[begau]

The best way to protect us is to be careful and always be alert to all very sophisticated scam situations. You can only be limited but I think absolutely impossible. Your perception and vision along wth your senses are important to the success of the projects you participate in.

[candelavan]

Post offended contributor. How many companies have you checked? This problem can be solved only by the platforms themselves, by implementing the function of returning funds.

[elite070]

I think that this is becoming more and more common lately, so what can we do to ensure that responsible people can be punished?

I think the easiest thing to do is to contact the developers before investing or before you decide to participate in the bounty of this project. You need to contact directly by phone, if it is specified or it is best to go and look at the address indicated on the website, is there really such a company. If this is not possible, but create a theme and ask people to find out if there is such an organization or people.

In general, by any means to identify the identity of these people. As soon as we can add personal identification, these people will not be able to just fool us. Because you can write to them in the police under the article fraud.

The most important thing is that today there is everything necessary in order to really find and punish the people who are deceiving us. I think it's time for us to start doing it, otherwise the ICO may die.

If you have any other suggestions, I will be glad to hear them.

I guess quit ahead and support other that is profitable. At the moment it is not that important to choose which is the best but its okay now to be joined in a real one because of the scams.

[KKH84]

What I do if I find a scam project, I will comment on their social accounts, like Facebook or Twitter, I will write that this project is "SCAM" and if they have an application in the Playstore I will give one star and comment "SCAM" as I do on HOWDOO.

[Sum24]

maybe in the meantime when I was deceived I couldn't do anything, but there were some suggestions from my friends to report it to CIE whether it could work or not. I haven't tried it yet.

Right but not only in one but all around the world there are huge number of scammers who are ready to turn our profit into lose by scamming. It’s good to be careful before you invest because a little care can save our future. I have never been deceived but if I ever had to face it I will simply not repeat my mistake again and will investigate before investing in site.

[Evushko]

It would be good if you started such a service, which is engaged in catching fraudsters, and not to do it yourself!

[Altryist]

It would be good if you started such a service, which is engaged in catching fraudsters, and not to do it yourself!

I hope that with the development of the blockchain, there will appear services that will be engaged in catching fraudsters.

[haroldtee]

cheated? a sure thing if you have been exposed to fraud then you have to further improve the situation in the future. to prevent this from happening again.

But do not forget that fraudsters are also improving in order to deceive you. I agree with the author of the post that first of all it is better to learn the team and the despicability of the people who are behind the project.

Just be very diligent with your findings, that is all. The thing like you said is that fraudsters keep looking for new ways to keep upgrading with their deception, so in a way, the best thing is to make sure you are always a step ahead in most cases, and how can you do that? Just make sure you are basically not just looking at the surface, but checking out all the necessary things you need to know and as an investor, never be lazy to keep asking questions until you are fully convinced.