Scammers running free

[Novatech8]

Not until we start seeing crypto scammers get arrested for real many new investors won't join,I have friends that won't join crypto because of scammers running away with ICO funds forever ,no way to arrest them and get the funds out of them,the few news I read about getting some scammers is not enough ,the more there is an effective way the less scammers will harm crypto

[tunapa]

this is one of the major reason why many people want regulation to enforced so that investors will stop losing money to scammers. this is one of the reasons why SEC has come out to try and regulate crypto activities and we have seen the effect of this on the market and also some project owners and left the project and ran away while some have been apprehended, others will soon be caught. this things have changed because of the fear of SEC.

[stfN2128]

Not until we start seeing crypto scammers get arrested for real many new investors won't join,I have friends that won't join crypto because of scammers running away with ICO funds forever ,no way to arrest them and get the funds out of them,the few news I read about getting some scammers is not enough ,the more there is an effective way the less scammers will harm crypto

You don't have to invest in an ICO to join the crypto market. You can also invest in solid / well known coins. so the ico debacle shouldn't be the reason to gain more crypto investors. but you are right, ico scammers should be followed harder and get a fair punishment.

[rijaljun]

It's about legal actions, most of investors let scammers running away for free maybe because they have just invested couple hundred or they think "ah no problem, just a small money". Maybe regulations from each country is needed to prevent scam project getting funded. However, there are still many countries that blinded by fiat and see that cryptocurrency is a garbage or a useless product and end up banning cryptocurrency.

[mrdeposit]

It's about legal actions, most of investors let scammers running away for free maybe because they have just invested couple hundred or they think "ah no problem, just a small money". Maybe regulations from each country is needed to prevent scam project getting funded. However, there are still many countries that blinded by fiat and see that cryptocurrency is a garbage or a useless product and end up banning cryptocurrency.

It is like imagining there would be no murders because of cops. The regulation will calm the situation, but the scammers will continue again. Anyway, if you want to walk around places that are not scam, trading money pairs will be better. Because it is normal to encounter scammers in the decentralized system.

[profitgenerator212]

Not until we start seeing crypto scammers get arrested for real many new investors won't join,I have friends that won't join crypto because of scammers running away with ICO funds forever ,no way to arrest them and get the funds out of them,the few news I read about getting some scammers is not enough ,the more there is an effective way the less scammers will harm crypto

I think Cryptocurrency decentralized nature doesn't really allow relevant authorities to actions on these scammers as much as we would like. Recently, I read in the news that Bitconnect CEO is still facing legal battles after being indicted in ICO scam

[CjMapope]

ugh
why is this in altcoin discussion?
wrong board you cuck
should be rep or meta or something
but definitally not alt discussion
Move your post to proper board by option in bottom left of your OP

[xvids]

I don't think that we could really do anything about it besides we don't even know if the name that they put on their informations is real.
What if the name or picture on their informations are fake and the cops made some move to arrest them,They could arrest some innocent people because of this fake informations.

[burky156]

Yes, and i believe that was the real reason for the big scamming situation in 2018. Think about that, you steal money from the public and no one can stop you or punish you. ı believe that after the first Scam in the blockchain history started this because there was no penaalty for that. After the bad people learn that, they all started to produce scam projects or when they collect money from the people they just ran away with those money.

[jossiel]

Your friends are doing it correctly, they shouldn't invest to something that they doubt and aware of what's the current situation. It is no longer a hidden situation that the ICO market is full of crap projects that are likely to be scam.

Few are probably legitimate projects but they are rare to find because of the vast projects that keep on coming to the crypto market. There are gov't agencies that are following some project developers and would probably sue them.

[bitcoin31]

The only way for them is to die because we don't have any choice they are very harmful to the crypto since last few years ago and until now. That's one od the reason why people are scared to enter to the crypto because they have a lot of scammer that saw in the news and even my friends that I want to invite at the cryptocurrency their mindset is their money will be scammed beacuse their think bitcoin is using to scam people.

[Osayo]

Not until we start seeing crypto scammers get arrested for real many new investors won't join,I have friends that won't join crypto because of scammers running away with ICO funds forever ,no way to arrest them and get the funds out of them,the few news I read about getting some scammers is not enough ,the more there is an effective way the less scammers will harm crypto

It is very easy for scammers to run away with people's funds because there is no central regulator monitoring the activities of cryptocurrency worldwide including any form of token sales.

[ataki]

Without regulations scammers could run away with the funds  and this is the main reason investors lost their trust in ICOs. The new, more trusted  model of investing is through IEOs, where exchanges are supervising the process.

[Little Mouse]

I'm not sure what you really said. Scammers will always be there, no matter what rule/law is applied. You must have done proper analysis before investing your money, it's your money, your responsibility. If people do enough research, they will barely lose or be scammed.

[Teawhalee]

i believe scamming activities has reduced now in cryptocurrency because people are now wiser and things have changed so it will be difficult to perform any type of scamming. SEC will hunt them down.

[Tipstar]

That's none reason to not to invest. Scammers to some extent are being sought after depending on the jurisdiction they belong to. But as we realize the crypto nature, it's largely the investors who should research enough before investing in any project. Crypto was a get rich quick scheme in the past but is not as now.

[ansarose1]

It is so sad that many people are trying to earn in a legal way and then this scammers just do fraudulent things and make scam thingy and just get some other people's money for free. I think there is no law for scammers online, yet they are continuing what they do to make easy money from what they scammed. But i hope they would come such time that scammers can get rid off and be banned forever here.

[patz22]

That's one of the risk in joining crypto specially if you are joining ICOs wherein it is not regulated by law so that means it is hard for us to prosecute those scammers with bags of money. I've been there, cryptassist had a great project but suddenly the devs are gone even the CEO but I am still here trying my luck and using some of my knowledge to earn more in crypto. It is still up to the person if they want to believe or not.

[judeafante]

Not until we start seeing crypto scammers get arrested for real many new investors won't join,I have friends that won't join crypto because of scammers running away with ICO funds forever ,no way to arrest them and get the funds out of them,the few news I read about getting some scammers is not enough ,the more there is an effective way the less scammers will harm crypto

If only we have a governing body that will prosecute these ICO scammers, ICO will be ok and many investors will not shift to IEO or STO all investors wants a safe environment when investing, and they are more than willing to support and pour money in ICO.

[samcrypto]

Not until we start seeing crypto scammers get arrested for real many new investors won't join,I have friends that won't join crypto because of scammers running away with ICO funds forever ,no way to arrest them and get the funds out of them,the few news I read about getting some scammers is not enough ,the more there is an effective way the less scammers will harm crypto

Then try to encourage your friends to invest with bitcoin and other altcoins than to introduce him to fake projects and scam ICO's, he might be missing something if he will only focus on the scam projects. We know that those scammers are there with shitcoins so if you are a wise investors you will put your money on those sure coins that is already in the market. I will not introduce cryptocurrency to my friends on an ICO way because that's a bad side of the market.