The perfect solution to scam in the crypto space

[stigmacryptonight]

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

Has anyone implemented this for the ICO? It seems that there are still many ICOs that do not implement this. Because people berestestasi see how good the project going forward. If it's really good, people will invest in the project.

[rizkyhiw]

Indeed, fraud will always be observed by everyone because most people who are in the crypto room are still vulnerable to fraud but can be taught because maybe they are new to this because they want to have extraordinary coins, I will wait for the process to happen and it is indeed too late to regulate everything where there are so many ICOs who are ready to go to the market or even at the development stage, but ICO arrangements must be better to prove the authenticity of the projects they have developed in terms of development teams and clear road maps.

[Nekoma2018]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

These ideas are grate.. but I don't think there will ever be a lasting solution to scams and hacks in the crypto space

[Nekoma2018]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

These ideas are grate.. but I don't think there will ever be a lasting solution to scams and hacks in the crypto space

While this idea may reduce the number of scams and hacks in the crypto space.. these guys will always find a way around to fool investors into thinking they're legit... it's just like how corruption can never be erased from the world's government

[pleci]

That's brilliant and wise idea but I don't think it could literally destroy and stop scams and fraud around the crypto community. Scamming varies in many types and scammers could attack exchanges or even users personally. The best thing that we can do is to start the awareness within ourselves.

I think that method also does not stop fraudsters even though this method is very good but in my opinion if it is not captured by fraudsters it will continue to repeat it. Yes, as you say that fraudsters are different and have thousands of ways to benefit from investor money, one of the most important things is that we have tried the best and the rest we pray that the fraudsters get the same punishment.

[sherenikaw]

Responding to scams and hackers, both are very difficult to avoid.
Who determines ICO regulation? Who guarantees that the ICO will fulfill the regulation? Because the crypto world itself is decentralized. so it's hard to make certain regulations to avoid scams. It is possible if we are the ones who must set the rules when we want to participate in an ICO. It could be by getting to know their member team.

[youdacapt]

So we also need an institution that regulates everything because crypto is a big investment so it requires large institutions to regulate everything, so that with the existence of these institutions, not every project will be built because it has to fulfill various requirements to be able to sell ICO.

[batang_bitcoin]

Responding to scams and hackers, both are very difficult to avoid.
Who determines ICO regulation? Who guarantees that the ICO will fulfill the regulation? Because the crypto world itself is decentralized. so it's hard to make certain regulations to avoid scams. It is possible if we are the ones who must set the rules when we want to participate in an ICO. It could be by getting to know their member team.

SEC will do the job but it's going to be tough for them if these bunch of ICOs keep on coming to them asking for that certain service that they have to validate that ICO. Setting your own rules would be easier but still how can you be sure that the ICO you're investing with your money is going to be a good one? specially in these days that most of the ICOs now are bunch of scammers and you have trust issues  with them since the growth of ico scams came in.

[bonker]

In sometimes if we follow any other kind of tips also to reduce the scam that you are involved in is really difficult so once you have to find the solution you need to be other in all the situation then only it is possible to handle some of the scams easily.

[b3llsf1l3s]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

What I know is that these two things have been implemented a year ago and until now we know that this doesn't change anything. In fact, fraud has often entered crypto news but the perpetrators have not been arrested / processed by the law.

[crispynougat]

This would be a great solution for overcoming hacking that has happened a lot. Regulation of the ICO project should be improved and able to protect investors. Audit with routine and audit results must be informed immediately. So that people will choose a new ICO project can be helped and not stuck in a fake project.

[galundan9]

the situation that often occurs is that there are many cases of an ICO project which ultimately are just a fraud so that it is very detrimental to investors who have invested in them, I think the ICO rules must be in the future so that they can be better and no scam projects which is detrimental, perhaps in the future the government in all countries must immediately take part in this matter so that every ICO project and investor has a clear legal umbrella.

[BitcoinHodler]

unfortunately none of these things are going to work and we have already some experience in each case and seen them not work.
for example regulations that people are nowadays so happy about are only to help the government tax people to only get their share of the money that is changing hands in the unregulated altcoin market otherwise they are not going to police the market to remove the scams.
as for auditing, we have had good cases of things that worked but only for a short while before the auditors turned into scammers as they accepted the bribes by ICO scammers to advertise their scam as a legitimate fundraising.

[baigreen]

This is not a solution to the problem. He is not there yet. An audit or verification of Iso does nothing today. The problem is deeper. Imperfect technology is a threat to the cryptocurrency community. And as we know in the world of technology there is no perfection. So the hacks will continue and deception too. The only thing that we can find a way to reduce the number of such cracks.

[Reid]

Yes and yes.
That could prevent scams.
In fact I have joined an ICO once which is Singapore based and we know how strict they are in that country.
Still, the ICO finished and their project is in pending. It is almost a year by now and they still havent reported any changes with their project.

Now, how could you get away from that? Can you still sue them if they are just saying their project is just pending even though they are not even close to their roadmap?
Thankfully, I didnt invest a lot, but it is still a loss.

[iyah adrian]

I think there is no solution for scam, so I don't think the project should be followed. we must continue to examine further the project. if there is any doubt, it is expected that you will not invest or follow the bounty project, I think it is a waste of time

[Zuxe]

It's difficult to detect a fake or real ICO project. But you can always go on research about the project, and take your time to study and examine it properly so as to avoid any lost of fund when invested. What's more, is that you have to determine if what the project offers is actually unique which could thrive in future.

[GregH37]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

What more regulation do we need other than the one we already have that we are not recognizing because it is not government regulation. We already have the IEO which I believe for now, is not different from ICO but has more security because it is being regulated personally by those who respect the system and policy of blockchain. 

If we leave this regulation to government, then we can as well be welcoming a centralized system because that is what government will do. So it is left for us to embrace IEO for use to avoid being scammed.

For auditing, I think what we need to first solve is the issue of ICO scam and not exchange hacking, exchange hacking can easily be solved and it is in the hands of the developer to do that because we have so many security experts hey can engage to do this.

[warrior.coins22]

A very good and appropriate solution for better and healthier cryptocurrency growth. I always support a real ICO project and have a clear vision. This will at least reduce the way of fraud, and make investors more interested in ICO that has a real future.
Regarding hacking this will be a problem for all of us, because hacking is still circulating today, because I think many intelligent people are misusing their expertise for crime by hacking to get money in a short time.

[kanmo]

Yes, regulation of ICO is the perfect solution to all scams going on in crypto space. Some will come from nowhere to dupe people of their fund and go Scot free because there is no regulation. Once there is regulation of ICOs then this disheartening practices will end.