Scammers running free

[fuer44]

lately there are so many ico scammers who run away without any responsibility. they have been following their project for months, and when asked about the update from ico, they actually said the project was dead. at that time, there was no hope.

[andika2018]

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

Indeed scammers make many people afraid to invest in the cryptocurrency market. But if they do research first before investing, it is less likely to participate in a scam project. Hopefully the government will issue a regulation that can punish scammers

[BennyK]

Scammers are running free after duping investors, traders, holders in crypto because it is a free market and has not got the full backing of the governments. For this reason, investors must be their own securities, stay alert and avoid all means of getting victimized by scammers. Don't be too greedy to follow enticing offers sent through emails. Some of these mails may be containing files that are used to phish the documents and log in wallet details of investors.

[thesmallgod]

Well, this is the part of the challenges facing investment in cryptocurrency. Ever since I joined crypto investment business, I have never seen or hear how scammers are arrested and jail for defrauding people and this is the reason why there has been increase in the scamming rate because a lot of scammers think this is the best way to scam people by creating fake ICO with fake team. Even I have come accross project that are registered in some international countries turning to scam also. Until we make scammers to start fearing creation of fake scam project. thing might not change

[libert19]

I have friends that won't join crypto because of scammers running away with ICO funds forever

Nice argument. If they have problem with ICOs then don't participate in them, what's that to do with crypto. Most of these scammers can be avoided by awareness.

[Augustyusuf]

until now, most ICO project event is filled by scammer, it make investor and new investor think ten times before invest their money, and it made crypto more suffer.

[Chikito]

Can the ico scamer be caught by the police?
some scamers managed to raise funds and run, this became a big question after the thieves managed to become rich people and took investor funds.

Yes they can be jail when you report on police office.
don't forget to bought proof and to be sure that ICO you are report are scamed people not by issue.

[StatesManG]

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

depending on the country the scammer is located and how the country treats such people or how the country react to such crime. You know in US they take scammers as a very serious crime and will not waste time to prosecute them. So if some countries take this very likely,  then you would see a different approach.

[freedomgo]

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

depending on the country the scammer is located and how the country treats such people or how the country react to such crime. You know in US they take scammers as a very serious crime and will not waste time to prosecute them. So if some countries take this very likely,  then you would see a different approach.

But most of the projects in ICO are not in the US, there are only few projects like CENTRA that was considered as they violated the law in the US, and they got jailed IIRC, so other projects are now smarter, they learn from the big mistake of CENTRA and they run their project in different country where crypto regulation is still lax.

[criket]

Yes they can be jail when you report on police office.
don't forget to bought proof and to be sure that ICO you are report are scamed people not by issue.

the problem is that, if the document provided is fake then we won't be able to do anything. nobody knows who they are and who. it would be very difficult to find them.

[TeamCyr]

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

What about @Zooko who is milking all the ZCASH fork projects and creating free coins in each and selling them down to zero? BTCZ, BZE, VOT, HUSH, ZCL, BTCP all being sold off to zero satoshi.

[Chikito]

This is the sad thing about this one. When fake ICOs launched and scam people, we cannot do anything but rather report it to the community and warn others not to invest in it. Sadly, those scammers can easily get away with the money they gathered without no trace of their personal life.

Experience and knoledge are everything, scamer have both it. when caught by people, they can change profil and replacing another project and do trying to scaming again. this is cyrcle situation.

[vanjava]

scammers are indeed a special concern for crypto in the future. the need for learning and knowledge so as not to join and participate in investments that are scam. always be careful and choose a convincing investment.

[Ronaldcoin2017]

Well i think there are still so many scammer that are running freely after they do scam to others, specially in crypto, in crypto there are so many ways for scammer to earn by doing a lot of scam things. That is why we need to be more careful and watch our moves in order for us to find a ways to detect a scammer.

[cafee_orange]

this is due to the lack of strict regulations so that they are free to run when committing fraud, Cryptocurrency needs a power in a rule, so that it has a hard effect on everyone who tries to commit fraud and steal investor funds.

[fortunecrypto]

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

Still going on, the scamming and there is not stopping on these scammers, bounty hunters and investors should do due diligence, this is the time to be more careful and to be wiser and to learn a lot, if they are making progress so are we, this is what happens to the unregulated market, they can do whatever they want.

[freedomgo]

this is due to the lack of strict regulations so that they are free to run when committing fraud, Cryptocurrency needs a power in a rule, so that it has a hard effect on everyone who tries to commit fraud and steal investor funds.

I guess the scam rate now is getting lower, AFAIK, most scams are from ICO but since investors have found IEO a better way to invest than ICO, so those random teams who will just create to scam will not be able to attract investors again.

[zzortyx]

At first there was a good ICO popularity and good earnings there. Then in this area came a lot of scams and investors began to lose their money. Now the popularity of iCO has fallen so it has become more difficult for scammers. Many investors turned their attention to IEO.

[Nhebu]

If there's a good opportunity scammers are nowhere. Its not surprising, even in the real market have also opportunist and syndicates. I don't think about scammers, I am concerned more for the people who became victims of scam. They can't file a complaint against them. Who were to be blamed? Are the scammers or the poor security?

[daniel2023]

Once bitten twice shy. It is not only you that have those that are scared of ICOs because of one or two investment in scammer project. I think, tougher rules or penalty should be applied on ICO to scare these project scammers out of crypto space.