SCAM ICOs, what we can do?

[Ezravdb]

Some ways to punish scam project. do not support their Bounty program the reason is that currently all Bounty projects always have participants who support promoting, I think we all need awareness in supporting a project and don't trust quickly in an ICO project. browse and analysis on each project of course it will punish the scam project because no one supports doing promotion.

[biddicoin]

ICO or IEOs unfortunately cause huge scams. Even if there is no fraud, they can still suffer great damage. Because a person who invests in IEO can lose 90% of his money. Okay, a project is working. However lost !! The team cannot manage the project. Or he doesn't.

ICO and IEO are very different
IEO is more reliable to invest bcz just small of them is a scam, although ICO is most of them scam

investors already know about this scam incident, that's why proportion to investing in ICO drastically decrease
I think it would make ICO going to end. just matter of time

[Sebas.tian]

Basically nothing we can do to thebm as a sign of punishment but, investor's should be very much careful with their investment. Knowing fully well that; most of these icos and ieos where out to scam potential investors of their funds. The only punishment we can give to them is: ensure to research into the project you intend to invest.

[Sebas.tian]

Crypto currencies are mostly decentralised and one of the biggest disadvantages is the fact, that nothing is trackable. People are getting scammed every single day and the majority of our community still prefers no regulations.

To the best of my knowledge the community have accepted that it be regulated. The fact that the system is decentralized shouldn't be used as an advantage to scam the gullible in this community. We should be ready for the worst as time is far fetching for the bitcoin halves which attract more scammers to the community.

[kesmex]

Crypto currencies are mostly decentralised and one of the biggest disadvantages is the fact, that nothing is trackable. People are getting scammed every single day and the majority of our community still prefers no regulations.

if a poll is held in this thread I think it will be better, does the crypto community want regulations on ICO or ICO without regulation? would be very interesting to watch

[seoincorporation]

Basically nothing we can do to thebm as a sign of punishment but, investor's should be very much careful with their investment. Knowing fully well that; most of these icos and ieos where out to scam potential investors of their funds. The only punishment we can give to them is: ensure to research into the project you intend to invest.

True, at this point all people have seen how most of the ICOs end in a scam. This is why they should be responsible of their own actions. But if you want some laws to fight against them i have bad news for you. We will have to wait a long time for it because ICOs arent regulated at all in the globe.

[nanaimogold]

Basically nothing we can do to thebm as a sign of punishment but, investor's should be very much careful with their investment. Knowing fully well that; most of these icos and ieos where out to scam potential investors of their funds. The only punishment we can give to them is: ensure to research into the project you intend to invest.

Basically, I think IEO eliminated most of the inherent problems of ICOs. And there's nothing much that can be done about it than stop participating in ICOs for a proven and safer investment fund raising models like IEO and STOs. The Crypto environment is still young and we are all learning daily to make it better

[heidikim]

If you want to escape from frauds. You can join IEOs that are organized by large Exchanges. Because at least you'll get a coin for your money. It is also certain that it will be processed in Exchange. Of course you can experience big declines.

[lobo13hf]

Crypto currencies are mostly decentralised and one of the biggest disadvantages is the fact, that nothing is trackable. People are getting scammed every single day and the majority of our community still prefers no regulations.

if a poll is held in this thread I think it will be better, does the crypto community want regulations on ICO or ICO without regulation? would be very interesting to watch

Crypto community wants to see a simple regulation that can be implemented into the ICO or IEO to make the scammer must verify its identity before they can create an ico. that's the only regulation is needed by crypto community right now. The answer is yes cryptocommunty does it.

[X-ray]

Crypto currencies are mostly decentralised and one of the biggest disadvantages is the fact, that nothing is trackable. People are getting scammed every single day and the majority of our community still prefers no regulations.

if a poll is held in this thread I think it will be better, does the crypto community want regulations on ICO or ICO without regulation? would be very interesting to watch

Even if the whole community wants regulation, who's going to regulate? crypto users coming from different part of the world with different government and they have their own regulation which im sure already cover things like ICO. We also need some kind of organization that enforce the regulation if there's any and it seems just not possible. in the future we'll just stick with the already existing government regulation.

[LbtalkL]

In 2 years in my stay here on bitcointalk I encountered so many scam/fraud projects but I didn't hear one of them get punished. Because most of them have fake info's, fake team, etc. and there is no way to trace it. In the first place as an investor, we need to investigate before investing anything It is our job to review each project legitimacy I think that is everyone doing now that is why ICO is not interesting anymore even legit projects fail because investors are more cretic and careful right now.

[joshua123]

ICO or IEOs unfortunately cause huge scams. Even if there is no fraud, they can still suffer great damage. Because a person who invests in IEO can lose 90% of his money. Okay, a project is working. However lost !! The team cannot manage the project. Or he doesn't.

How can you be sure about that? IEO can be also a game changer for investor. Remember the first trend of IEO when it started? Lots of people gaining from it and can even win 5x to 10x of their investment and could be more. The only problem here is the other projects which cause down fall for IEO which is held by other exchange that copy launchpad of Binance.

[setialovers]

In 2 years in my stay here on bitcointalk I encountered so many scam/fraud projects but I didn't hear one of them get punished. Because most of them have fake info's, fake team, etc. and there is no way to trace it. In the first place as an investor, we need to investigate before investing anything It is our job to review each project legitimacy I think that is everyone doing now that is why ICO is not interesting anymore even legit projects fail because investors are more cretic and careful right now.

It is difficult to punish scammers because there is no clear regulation. In my opinion, members of this forum have actually given warnings by giving signs that a project is a scam but sometimes there are still victims.

[d3nz]

In 2 years in my stay here on bitcointalk I encountered so many scam/fraud projects but I didn't hear one of them get punished. Because most of them have fake info's, fake team, etc. and there is no way to trace it. In the first place as an investor, we need to investigate before investing anything It is our job to review each project legitimacy I think that is everyone doing now that is why ICO is not interesting anymore even legit projects fail because investors are more cretic and careful right now.

It is difficult to punish scammers because there is no clear regulation. In my opinion, members of this forum have actually given warnings by giving signs that a project is a scam but sometimes there are still victims.

That is correct because some people who create thread about the project are newbie account and even thou we report the account about their scam project it cannot do anything since they are not using  an upper rank which will not affect the real creator.

Therefore, wr can only make another thread or report this scam project to the admin. And this will make new investor to avoid this scam project and avoid spreading it.

[devillnj2.1]

I also dont know how to punish those scammers,  im also a victim of scam ico,  but i learned a lot from those experiences i hope you too, if you still want to invest what i suggest to you is to try ieo from binance,  or other legit and big exchanger.

[Itsmylife]

ICO or IEOs unfortunately cause huge scams. Even if there is no fraud, they can still suffer great damage. Because a person who invests in IEO can lose 90% of his money. Okay, a project is working. However lost !! The team cannot manage the project. Or he doesn't.

How can you be sure about that? IEO can be also a game changer for investor. Remember the first trend of IEO when it started? Lots of people gaining from it and can even win 5x to 10x of their investment and could be more. The only problem here is the other projects which cause down fall for IEO which is held by other exchange that copy launchpad of Binance.

Perhaps he was talking about IEO projects organized by small exchange sites, which require small fees to organize IEO.

[Magkirap]

I also dont know how to punish those scammers,  im also a victim of scam ico,  but i learned a lot from those experiences i hope you too, if you still want to invest what i suggest to you is to try ieo from binance,  or other legit and big exchanger.

The best way to punish those scammers is to ignore them, to be not entertained by anyone in the crypto world because that's their first objective to be known by someone so that they can scam that certain individual. Same with you man i also got scammed by ICO projects and after that i raise my standards about projects and do lots of research before investing so that it won't happen again.

[walerikus]

You can just use filtering like this one https://cryptoslate.com/cryptos/proof-of-work/

[TinaK]

We don't need to do anything with them just we need to be careful and choose the write project value planning to to investor participate on their bounty project.
There are separate board and some DT members in this forum trying to create awareness among the forum users to stay away from the scammers.

[South Park]

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?

We cannot punish them if they hide their identity, but the poor reputation for their ICO by simply exposing them everywhere and warning people about them, is a fatal blow to their project, I think ICOs have so far become a haven for scammers to collect people's money and steal it, We do not find an explicit solution to stop them, but educating people about not investing in new ICOs projects that do not contain a real team or whitepaper is the ideal solution to stop the scammers from deceiving investors.

This is the only thing that we can actually do, we cannot change the fact that the market of icos is full of scammers, and we lack the means to recover the money that scammers get from their victims so our only option is to spread the news to the newbies about the current state of the ico market and why it is a bad idea to invest in it because most likely they are going to lose any money that they have and they are not going to have any kind of method to recover that money.