SCAM ICOs, what we can do?

[Twinkledoe]

Simply not join ICOs as you say most of ICOs is scam, ( i say most not all).

Actually, that is the very simple solution to these scam ICOs. If investors will stop supporting them, I don't think they will launch their fake projects. But unfortunately, there are still crypto believers that somehow they firmly believe that there are still good projects that they can invest with. But as for me, I have stopped investing in ICOs a long time already. Been screwed twice in these ICOs before. And that were my hard lesson for believing that dev team can fulfil their promises and they will truly implement their objectives.

[safem]

The rate at which scam ICOs have saturated the atmosphere of crypto is something of great concern. A lot of crypto enthusiasts are getting discouraged already from continuing with ICO projects due to high prevalence of scam projects. We do not need to get discouraged because such things do happen in many other businesses transactions too. We need to just keep on researching very well to be sure of the ICO projects we want to partner with. A great work is required of us if we will not be scammed by ICO projects. Though good ICO projects may not really be much, but the fact is that they still exist but it will take serious effort and attention to get them. I think what we can do stop the prevalence of most of these scam ICO projects is to keep educating crypto investors on the need to research well on ICO projects before investing into them.

[Aryleeto]

I have a simple answer, not to be deceived do not participate in the ico, it is better to choose a good exchange and participate in iso, for example gate, binance these exchanges are very good to earn.

[jostorres]

These scams have spread so fast, and the only reason for the rapid spread of the fraud was because of the people blindly trusting and investing in a project and also because of no governing of these scammers. New projects got encouraged with this attitude, resulting in more new scams.

The question that I do ask myself is Who are the people that blindly trust these projects? Are they the same people on this forum or external people that has nothing to-do with this forum because I believe that by now any member of this forum should have been wise enough not to fall victim of some of these projects after the experiences that has been shared and after some of the secrets of these scammers being licked to us every day, so it would really be a sad thing that any for member still fall for them.

I think one of the think that do make those investors fall easily for these projects is the huge reward that they use to entice them which they have to have known by now that it is just a gimmicks to get money from them.

[coiningz]

In general, holders can do nothing with it.
Crypto is a risk and deadprojects is the main reason

[awik p]

Simply not join ICOs as you say most of ICOs is scam, ( i say most not all).

Actually, that is the very simple solution to these scam ICOs. If investors will stop supporting them, I don't think they will launch their fake projects. But unfortunately, there are still crypto believers that somehow they firmly believe that there are still good projects that they can invest with. But as for me, I have stopped investing in ICOs a long time already. Been screwed twice in these ICOs before. And that were my hard lesson for believing that dev team can fulfil their promises and they will truly implement their objectives.

It does seem unfair to investors, but there is nothing we can do until investors lose funds. we can only be careful to choose the project, and the result is that the ICO is currently dead and switches to IEO, which can directly buy tokens on the exchange, so unlike ICO which is still waiting for tokens to be distributed, at least IEO has that advantage

[ohyeahhaha122]

Honestly, every market has its own risks, the top organizations scam has done everything it can to prevent or minimize but, but in the market, it's important for yourself. can you see the truth or not?

[efxtrader]

Simply not join ICOs as you say most of ICOs is scam, ( i say most not all).

Actually, that is the very simple solution to these scam ICOs. If investors will stop supporting them, I don't think they will launch their fake projects. But unfortunately, there are still crypto believers that somehow they firmly believe that there are still good projects that they can invest with. But as for me, I have stopped investing in ICOs a long time already. Been screwed twice in these ICOs before. And that were my hard lesson for believing that dev team can fulfil their promises and they will truly implement their objectives.

At this time, almost ICO has changed to IEO and the sales process through exchangers. This is already a step forward because with the exchanger involved in the sales process, it will avoid the risk of scam, besides the listing process will be faster because it has been negotiated from the start.

[JeromeL]

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

Fraudulent projects specifically register their campaign in offshore zones to avoid punishment by law enforcement agencies.
You have to believe that God will punish them. Fraud is not allowed in the life of normal people. Money can be earned, and honest way, and many people do it.

[taufik123]

The only thing we can do about the scam ICOs is to avoid investing in them. Taking the legal route is not a viable option. A lot many users have tried filing lawsuits against the scammers, but in most cases they shift from one country to another and the legal process gets stagnated. As of now the only viable approach is to spread awareness.

The legal regulations regarding scammers for investment are indeed different in each country. but scammers are smarter to hide their real identities so they don't know and use other people's profiles. The only way is to mark each method they use and spread about the scammers in this forum, so there are no further scammer victims.

[Viscore]

The only thing we can do about the scam ICOs is to avoid investing in them. Taking the legal route is not a viable option. A lot many users have tried filing lawsuits against the scammers, but in most cases they shift from one country to another and the legal process gets stagnated. As of now the only viable approach is to spread awareness.

The legal regulations regarding scammers for investment are indeed different in each country. but scammers are smarter to hide their real identities so they don't know and use other people's profiles. The only way is to mark each method they use and spread about the scammers in this forum, so there are no further scammer victims.

Yes. With the help of this forum, we will all be aware about the identities of those scammers that we need to avoid so that we will not fall as their victims. And having a continuous research too about the ICOs we are going to invest and the team behind the project is also very relevant to come up with a good ICO and pays off with all our capital and efforts. There is no easy thing in this market as everything needs to be worked out.

[mhine07]

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

There is really nothing we can do about this kind of ICO's eversince bitcoin got its peak there are many ICO's that in starts they seem to be good and their projects seems to be successfull when it finish but eventually when they raised enough money they suddenly disappear and leave the project behind.

[The Cryptologist]

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

There aren't that much ICOs in the crypto space and people already shifted to IEOs which some says is where the new scams happen. ICOs scam are not the rampant anymore because investors would likely go to IEO instead of the old ICO. There are still some scams on IEOs but it's not that huge compared to ICOs because people can research which is a trusted exchange to put their money.

[shoreno]

there are legit ico from the start and from the middle but sometimes thier coin can become a deadcoin because investors are not interested  on them anymore .

investors do also want new from time to time and they go for newer projects and then jump again from the other  .

 its not also the fault of investors but sometimes its the developer of the coin because they dont improve their coins anymore  or they already forgot their plans for thier project  .

[bryant.coleman]

there are legit ico from the start and from the middle but sometimes thier coin can become a deadcoin because investors are not interested  on them anymore .
investors do also want new from time to time and they go for newer projects and then jump again from the other  .
 its not also the fault of investors but sometimes its the developer of the coin because they dont improve their coins anymore  or they already forgot their plans for thier project  .

From what I have seen, the vast majority of the ICOs do have very good ideas and planning. The investors get attracted by all this and they pour their hard earned money in to these projects. But once the team gets rich from this money, the development gets a lower priority and in many cases the project becomes dormant. The tokens will start losing their value and in a few months they can lose more than 90% of their exchange rate. Eventually, the tokens will become dormant and they will no longer be actively traded.

The only solution to this, is not to allow any project where the development is not even 50% complete. Nowadays, a lot many of the ICOs go to the market even before the development is started. All they have is a nice white paper, an idea and in some cases a beautifully designed website. Such instances can't be allowed any further. If we want to remove the scam projects, then only those in the later stages of development should be allowed. Else, the funds should be kept in escrow and released only when the project milestones are complete.

[Ozero]

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

To punish scammers you need to know their names and passport details, as well as the country where they live. The community of deceived investors needs to unite and create an organization that would search for fraudsters. But it’s even better to create an organization that would look for scammers among new projects that are just emerging on the cryptocurrency market.

Without the appropriate powers of state law enforcement agencies, such an established structure cannot do anything. In order for the level of cryptocurrency fraud to decline, we can not do without state regulation of ICO activities. It’s not worth inventing a bicycle here. Such international fraud on the Internet, even for law enforcement agencies, will be difficult, public authorities will not cope with such frauds.

[Kemangi]

not us, but scamers have changed everything. they created their own world and their dirty hands have damaged ICO's reputation. ICO is no longer what it used to be, in reality today ICO is no longer an investor's dream.

[litepool.ru]

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

There is no way to get rid of scam ICOs, every day lots of investors are their victims. I hope in the future we will solve this problem

[upyem2k]

The best thing to do is to avoid blind investment in to ICO. We should ensure we read the project's whitepaper and as well research the authenticity of the team. We should avoid and regard any project foresight that seems to good to be true.

[Lanatsa]

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

To punish scammers you need to know their names and passport details, as well as the country where they live. The community of deceived investors needs to unite and create an organization that would search for fraudsters. But it’s even better to create an organization that would look for scammers among new projects that are just emerging on the cryptocurrency market.

Without the appropriate powers of state law enforcement agencies, such an established structure cannot do anything. In order for the level of cryptocurrency fraud to decline, we can not do without state regulation of ICO activities. It’s not worth inventing a bicycle here. Such international fraud on the Internet, even for law enforcement agencies, will be difficult, public authorities will not cope with such frauds.

Due to decentralized aspect of Cryptocurrencies where frauds can really be perfectly be done without even being traced up completely.This is the negative or cons on having a decentralized market where these scammers and frauds do took advantage of such thing.Due to lack of legality or regulation its really hard to fight up our own rights as an investors.Once our money had been taken out by those people then don't expect for such immediate or some actions in terms of retrieval because it would be almost an impossible thing to happen.Lets make up some example with that cybercrime department on our local police stations they cant even or do have a hard time on solving out even a single case that do involves crypto.
As an investor or crypto enthusiast we should be aware on our actions because this is the only way to avoid and lessen up these kind of events for now.