SCAM ICOs, what we can do?

[gabbie2010]

There is nothing much we can do than to be conscious of anything that you want to invest your money into. This is cryptocurrency and it is not being regulated which means there is no law in place that will checkmate the activities of projects owners.

That is why every ICO investor should be very conscious of any of their action thus putting whatever investment made at a very high risk, although few years ago during the bullish period of crypto market a lot of ICOs investor made a lot of profits then scam ICOs were very few however with the turn of event vis-a -vis the turn down of the market had prompted many ICOs to capitalized on that situation thus collected investors funds and ran into thin air without trace knowing that cryptos are unregulated.

[1714132047]

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[Genemind]

It's really disappointing that we can't take legal actions against crypto scammers because most of them are using different identities. Most scammers these days used crypto as a way to steal other's earnings so the best thing that we can do is to get rid of ICO's since we can't determine which projects are a scam and which is legit. The only thing that we can do for now is to be careful upon joining ICOs. We have to do a series of research first. Reminding and warning each other here will also be a big help.  

[PavelMed]

For a long time everyone has been saying that ICO is roulette. But still, roulette is for small investors. And is it possible that a large investor will act on his own fear, invest millions in a bubble without knowing anything? So it turns out that every project carries scam.

[btcdie]

We can't punish ico scams because it's the internet world and they use a different identity to have bounty hunters and investors trust them that they are real. For now, all we can do is work together to prevent it from being harmed by other investors and bounty hunters. That's all we can do right now and hopefully the platforms that hold it to make a coin will do the same.

Yups, logical. but in my opinion it can be in the face of ICO scam you mean. at least if we find a scam project, both ICO and the like we can use this forum platform or social media to spread the word about the existence of the scam project, thus minimizing trapped victims. Scammers destroy reputation, therefore all scammers must be destroyed.

[DaveWave]

It's really disappointing that we can't take legal actions against crypto scammers because most of them are using different identities. Most scammers these days used crypto as a way to steal other's earnings so the best thing that we can do is to get rid of ICO's since we can't determine which projects are a scam and which is legit. The only thing that we can do for now is to be careful upon joining ICOs. We have to do a series of research first. Reminding and warning each other here will also be a big help.  

The US so far is the most active government when it comes to filing cases and arresting scammers. Scam coin executives from Onecoin and ATMcoin were arrested and are facing years of jail time. Many crypto card projects that became a thing in the past years are also facing charges. As expected the US SEC also has the highest standard when it comes to giving licenses on crypto related projects and companies. Even the Libra from Facebook is facing heavy pressure from the US government.    

[fuguebtc]

Some ICOs are scam, some are abundant by founders and some fail miserably. Only few gave huge returns to there investors.
Apart from your research, its luck also that matters while you choose an ico for investment.
IEO is solution for ico scam. If you dont wanna take risk and be 100% sure of project legitimacy then IEO is for you. Though I doubt return on IEOs will be under a limit.

[South Park]

Simple way to avoid scam ICO is just ignore them all, actually we can't blame the scammer if we know that is scam. For people who using internet must know about its crime, scamming is one of internet crime. So, we can upgrade our knowledge about ICO and another method for scam. If you hesitate to join in an ICO, just forget them and save your money.

And that is truly the only way to guarantee the safety of your money against those scammers using icos to try to get to your money, I do not really like we have come to this since I really liked the idea of the community backing new projects with their money in order to make them successful, but after years of trying that formula only a handful of coins have become a long term success while the rest of the coins either disappeared or are a complete disappointment.

[Meowth05]

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?

Unfortunately, we can't do something about it like punishing them because cryptocurrency isn't legal yet in some places meaning there's no law that will protect you from this scam project. The only thing I can think of is that before we participate or to engage in their activities we must do some research first or technical analysis that will tell you if it is worth of your time. We tend to be scammed simply because were are only participating without having a single knowledge about the team or what is their development which is totally wrong.

[sapnu]

Simple way to avoid scam ICO is just ignore them all, actually we can't blame the scammer if we know that is scam. For people who using internet must know about its crime, scamming is one of internet crime. So, we can upgrade our knowledge about ICO and another method for scam. If you hesitate to join in an ICO, just forget them and save your money.

I will also ignore such projects instead of bumping them by posting the complaints. Because this kind of scam projects coming to the market and get more negativity or positivity to make themselves famous.
Kindly don't mind to get the the investment on such scam projects without examining the ICO details carefully.

Bumping their threads by accusing them of scam is helpful also, to spread the awareness that no one should further support them or invest to them, and it is everyone's right to speak out for themselves if they got scam by a certain project, the time, efforts, and dedication they had spent on it is no joke.

I'm going to say this again, if we just could predict their ICO if it's going to be a scam or not by examining it, there is no one that's going to complain about being scammed.

There are actually lots of ICOs that are scamming people. But you can obviously check it and can recognize if that is a scam, you have things to consider before joining or investing in some ICO's. The first thing is that you should read the whitepaper of that particular ICO, whitepaper is important because the plan of that particular campaign is all stated there, also their token cap that they need to reach, and also the team itself is stated there. The second one you can consider the bounty manager because there are bounty manager that is not good in terms of trust, some are having red trust because of scamming so if that particular ICO has a red trusted bounty manager, you should think twice if you still want to join or invest to that ICO.

[Darktongue]

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?

I'm sorry that I haven't got any project which one scamming people for 2 years. After long time when admin realize that there no possible to success this project they send funds back. After long time only few projects will be failed. Legit projects doesn't wait for funds, during that time they will start to build at least alpha version. That will help projects to funds rise in bear market.

[letyouearn]

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?

Don't waste your time trying to punish anybody, bro. Use it more wisely. This market gives us possibilities to earn money just because it's still not regulated properly.

[stephanirain]

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?

If we know the real identity of those people behind the team of the project, it will be wise to ban them. Too bad, there is no global law for regulating crimes in cryptocurrency yet, and I don't think there will be one in our time. And since, there is no specific regulations, there is almost nothing we can do. Let this be a harsh lesson for all of us and use it to improve this industry.

[Pinkris128]

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?

It is really unfortunate to see a project fail but it is worst to be scammed and be betrayed ans stolen by those who you thought could be trusted. It did a negative impact in the market and many other ICOs further loss potential investment because of the fear. I hope those people that ran away with the money will never be accepted again in this industry.

[fuer44]

unfortunately there is nothing we can do. You are a deceived investor or an unpaid bounty hunter, we cannot demand anything. Because it is clear that the operation of ICO is not based on national law, so any form of fraud or theft that occurs, there is no guarantee of return. or a very low exchange value after the launch of the token which makes investors lose heavily.

When this happens often, it's because ICO still receives full support from investors. what we can do now is to sort out between the good ico or the scam.

[mey466]

Simple way to avoid scam ICO is just ignore them all, actually we can't blame the scammer if we know that is scam. For people who using internet must know about its crime, scamming is one of internet crime. So, we can upgrade our knowledge about ICO and another method for scam. If you hesitate to join in an ICO, just forget them and save your money.

I will also ignore such projects instead of bumping them by posting the complaints. Because this kind of scam projects coming to the market and get more negativity or positivity to make themselves famous.
Kindly don't mind to get the the investment on such scam projects without examining the ICO details carefully.

Bumping their threads by accusing them of scam is helpful also, to spread the awareness that no one should further support them or invest to them, and it is everyone's right to speak out for themselves if they got scam by a certain project, the time, efforts, and dedication they had spent on it is no joke.

I'm going to say this again, if we just could predict their ICO if it's going to be a scam or not by examining it, there is no one that's going to complain about being scammed.

There are actually lots of ICOs that are scamming people. But you can obviously check it and can recognize if that is a scam, you have things to consider before joining or investing in some ICO's. The first thing is that you should read the whitepaper of that particular ICO, whitepaper is important because the plan of that particular campaign is all stated there, also their token cap that they need to reach, and also the team itself is stated there. The second one you can consider the bounty manager because there are bounty manager that is not good in terms of trust, some are having red trust because of scamming so if that particular ICO has a red trusted bounty manager, you should think twice if you still want to join or invest to that ICO.

What often happens after researching with each other's ability is definitely not all the results are right sometimes misses, honestly I myself have not been good at distinguishing between real or fake projects, if I am good at differentiating maybe I have become rich because I always predict exactly

[adamin1i]

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?

Don't waste your time trying to punish anybody, bro. Use it more wisely. This market gives us possibilities to earn money just because it's still not regulated properly.

scam projects will always be. it is important that people become conscious and have the knowledge to distinguish fake ICOs.

[andriarto]

Simple way to avoid scam ICO is just ignore them all, actually we can't blame the scammer if we know that is scam. For people who using internet must know about its crime, scamming is one of internet crime. So, we can upgrade our knowledge about ICO and another method for scam. If you hesitate to join in an ICO, just forget them and save your money.

I will also ignore such projects instead of bumping them by posting the complaints. Because this kind of scam projects coming to the market and get more negativity or positivity to make themselves famous.
Kindly don't mind to get the the investment on such scam projects without examining the ICO details carefully.

Bumping their threads by accusing them of scam is helpful also, to spread the awareness that no one should further support them or invest to them, and it is everyone's right to speak out for themselves if they got scam by a certain project, the time, efforts, and dedication they had spent on it is no joke.

I'm going to say this again, if we just could predict their ICO if it's going to be a scam or not by examining it, there is no one that's going to complain about being scammed.

There are actually lots of ICOs that are scamming people. But you can obviously check it and can recognize if that is a scam, you have things to consider before joining or investing in some ICO's. The first thing is that you should read the whitepaper of that particular ICO, whitepaper is important because the plan of that particular campaign is all stated there, also their token cap that they need to reach, and also the team itself is stated there. The second one you can consider the bounty manager because there are bounty manager that is not good in terms of trust, some are having red trust because of scamming so if that particular ICO has a red trusted bounty manager, you should think twice if you still want to join or invest to that ICO.

What often happens after researching with each other's ability is definitely not all the results are right sometimes misses, honestly I myself have not been good at distinguishing between real or fake projects, if I am good at differentiating maybe I have become rich because I always predict exactly

fake projects sometimes have a good whitepapper, so many investors will get trapped and they will be trapped. therefore many think that current conditions are conditions that are difficult to predict. so it's not surprising that many investors have lost their capital and stopped in the crypto world

[danielchris]

I think  if we have face that scammer  & get loss big or small amounts. Then we should be  aware & telling about that project who gives us too loss & bycot neccesarily for  people.

[OrangeII]

unfortunately there is nothing we can do. You are a deceived investor or an unpaid bounty hunter, we cannot demand anything. Because it is clear that the operation of ICO is not based on national law, so any form of fraud or theft that occurs, there is no guarantee of return. or a very low exchange value after the launch of the token which makes investors lose heavily.

When this happens often, it's because ICO still receives full support from investors. what we can do now is to sort out between the good ico or the scam.

The current ongoing ICOs are lower than ever and the scam projects usually want to organize the ICO for scamming easily other people. There is an alternative choice- IEO and I doubt the scammers will have access to the well-known exchanges for doing their scam exercise.  The unpaid bounty hunters are the unlucky people who have participated in the bounty campaigns in the bear market. If you ask from the experienced bounty hunters, they will confirm the good sides of being a participant of any bounty campaign in the bull market.

actually not all IEO guarantees that. some IEO also turned into a scam, or dead coin because sometimes the team left the project after the sale was finished, and did not make any development to make the coins return to have a price. honestly, there is nothing we can do about it, so when you have the chance, selling it is the best thing. because of this I sometimes focus on collecting bitcoin or other popular coins.

[anume123]

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?

I don't know also it will continously deadcoins will come, even there are no more ico will come other projects are silently scam and no investors will come.