SCAM ICOs, what we can do?

[Chainsmokers]

You know, it's a sad fact and we can't punish or do anything to those scammers.
Because this is a decentralized market, projects without legal documents are still being implemented and investors are still not protected.
That's why we should really have investment knowledge and should invest in a group. It will reduce the risk of investing in fraudulent projects.

Yes it is true, for the time being there really isn't a punishment we can give them. I can conclude that the cryptocurrency market is a free market where anyone can join and participate. And the existence of this scammer makes investors hesitate to invest in a project because those who have had a project that turned into a scam do not want this to be repeated so I think many investors are waiting for the right moment to start investing again.

[South Park]

The issue of scam ICO's is getting more prevalent in recent times. This could be vividly seen in the cryptocurrency space as several ico projects are consistently turning pump and dump tokens. This has reduced the trust people have on the cryptocurrency space and potential investors are shying away from the community.

The issue of scam icos has been in the market for years but it isn't until now when we are seeing the consequences of this, no one that is serious about his money is really interested in those coins anymore because they know the very low chances that such coins have of succeeding, so what we are seeing is a renewed interest in bitcoin but only in bitcoin, even good coins are suffering because investors have lost any confidence that they had in altcoins and after what has happened we cannot really blame them.

[istiak2277]

It will be very difficult when it is an online business. I think its a bunch of people who bring new project run ico gather all the money they could and run away then again they came with another project. People always invest in those projects again and again because of their lack of knowledge. I think experienced investors should tell people about any scam ico or project out there. They can use this platform to do that.

[nekonyun]

Nothing can be done to punish scammers, when ICOs become scams or old coins become dead coins. It won't take long for all the teams, the community to disappear. Like this the scamer ends, there's nothing we can do

[CookieGums]

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 nothing we can do to stop the scam. The only thing we can do is to decrease scam. There is no authority for this. Only banned and giving negative trust is the way but this is not enough. The way is government authority and giving a hard punishment for scammers. So there is no way they can try to scam. Like in real life. There are few scammers, because they are afraid of punishment.

Dead coins is natural because there are lots of altcoins now. Increasing time by time so there is no attention for other coins.

[Tcode53]

Scams are toxic for the blockchain industry and must be stopped. The fact that 90% project will fail due to lack of funds or revenue. The key to avoiding scam ICOs is to do your research. Take note of the red flags, connect the dots, consider what the risks might be, and then decide if it’s worth investing.

[leatutz]

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?

In real world we can't punish any stock broker, so you can't punish this scammer. But you can avoid them by taking help from experts. Most of the bounty campaign is scam even some of them scam after successful funds rise. I hate those scammer who are doing scam more than 1 or more years.

[henrybek3]

How do we stop the scammers? I think the biggest problem in this issue is education. People need to be conscious. Because fraudsters are developing new methods. They say they'il do a great job. The post is a complete failure. We need to do some research.

[ACTrend]

Hey. we can do nothing with them. Make maximum branches here and write reviews about them. But this applies to those projects that we already know. And with new projects we cannot know how it will be. Therefore, we cooperate at our own risk.

[mdzahed134]

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 are no way to punishment for corrupted people's i mean these projects team who guys doing stolen investors money. But we can protect such scam projects to research about core team and their platform is legit or shit. Although a few valuable members highly contributed to detect scam projects. We should just avoid shit projects which are launch in shitty exchanges.                     

[Congyang]

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?

the only way is we are more selective and try deeper when we see a new project. do not be complacent to invest there, and spread it to colleagues or the community if there are projects that seem scam. so they don't get investor funds and fail to cheat

[ilovealtcoins]

No, we don't want to live in a would that full of scams.
But it's the fact that we need to face. The real world is not far different, strangers always try to scam you in some way.
So my only advise is:"don't trust anyone".

[BRODIN]

There are no severe penalties for ico fraud and also no prohibition to invest with an ico project. and this is because there are no crypto rules and the free crypto world. anyone can take part in this industry, maybe to overcome this problem don't put our money in the ico project & don't need to bother with ico anymore.

[Nguyenthanh2391]

ICOs are fooling us. it was just a dead coin with no hope. Everyone, please carefully review your investment. This is a world we don't want to have.

[superstrength]

We might be able to punish them. This scam is well worth the proper punishment. For more than 2 years now people have been cheated but still investing in is really a mistake.

[South Park]

Nothing can be done to punish scammers, when ICOs become scams or old coins become dead coins. It won't take long for all the teams, the community to disappear. Like this the scamer ends, there's nothing we can do

Many of those people knew that they were going to scam their users from the beginning so they hid their identity and when they finally decide to scam their investors they have taken all the necessary steps to do so from the beginning and they have nothing to worry about even if the authorities decide to investigate the case, which leave us with the question about what we should do? And the only logical thing to do is to avoid investing in those projects as long as this remains the case.

[albon]

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.

[Bim abk]

All we can do is to avoid scam project and stay sway from them.
2018-2019 is very difficult for investors and bounty participants.
What we can do now is to help the community to build up a good foundation again and help to detect scams.

fraud will always be there, and so far we can only avoid it because there is no specific treatment to eliminate fraud projects that occur. and as long as there is no handling of fraud then the last resort we must protect ourselves from fraud

[Em00n01]

What we can do is report about them in crypto related sites. Post about them with proof in different social media. Also we can create a thread against them with proof.

[MWesterweele]

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.

The only thing that we can do is to not joining their campaign , we need to research everything first, as we can see  it is easy nowadays to confirm of the people behind that project is real or not. Most of them posting their linkedin accounts you may stalk them. We need not to advertise them , we can only be an accessory to the the crime that they will do.