SCAM ICOs, what we can do?

[bittick]

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.

this is not a good step to fight the scam ico. Just try to send a report the regulators where that ico based on and then try to spread more awareness to make people send more and more complaints about that. If you are seeing how SEC was shutdown so many scam icos and that's work.
Just to make sure you are creating a report on the correct institution.

[fauzan Ichsan]

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.

it became one way to break the movement of the fraud project. and in the end many investors will be reluctant about the ico. we can see the impact at this time, where ICOs don't get the trust of investors, and finally they choose IEO to invest, because it's safer, and ICOs die

[Tomcolor]

This is sad moment for everyone investors because in year 2018 and 2019 many scam ico and death coins we doing face. Infact i can say my two friends history their get many loss for fake ico and death coins.

[Vishnu.Reang]

The most logical thing to do under such circumstances is to stay away from the ICOs. As per the latest analysis, more than 95% of the ICOs which are getting listed nowadays either turn out to be scams, or fail to achieve the soft-cap. So why take your chances when the probability of getting a positive ROI is so low? I would just stay out of all ICOs until the situation gets better.

[Durdenkingtyler]

The only thing to to is to learn from history.

We have now seen hundreds of promising ICO's, with many of them having established partnerships, backed by reputable people, team members with Ph.D's and so on.

What does it really mean? Jack shit. Many ICO's have good intentions, but when times get tough they fall through. The problem here is that the company does not really have any incentive to push for success.

Why?

Because the company has already collected years of salary and bonuses through the ICO. They are doing well no matter what happends, the only damage is done to you, the investor.

There still are a few high quality ICO project, but good research is crucial.

[Mumbeeptind1963]

The most logical thing to do under such circumstances is to stay away from the ICOs. As per the latest analysis, more than 95% of the ICOs which are getting listed nowadays either turn out to be scams, or fail to achieve the soft-cap. So why take your chances when the probability of getting a positive ROI is so low? I would just stay out of all ICOs until the situation gets better.

We need to take a deep research in everything, from the team to the advisors as well. Sometimes it is not enough if they have a famous advisor , we need to be sure, ICO/IEO must do an AMA so that people wi see their faces so that we have a proof once they did something wrong.

[Webetcoins]

The most logical thing to do under such circumstances is to stay away from the ICOs. As per the latest analysis, more than 95% of the ICOs which are getting listed nowadays either turn out to be scams, or fail to achieve the soft-cap. So why take your chances when the probability of getting a positive ROI is so low? I would just stay out of all ICOs until the situation gets better.

We need to take a deep research in everything, from the team to the advisors as well. Sometimes it is not enough if they have a famous advisor , we need to be sure, ICO/IEO must do an AMA so that people wi see their faces so that we have a proof once they did something wrong.

Or else we can simply choose more working and beneficial things. This is the fact of present market that almost 80 percent of new projects are scams and the remaining percentages are merely copies of existing blockchain. It is good to explore and test new stuff but only when an investor holds potential coins that will actually secure his future financially. Like the saying goes, old is gold so the best are bitcoin and few altcoins.

[Coroline]

It depends on the choice so you have to know what projects the CEO is running, is it experienced so if you already know it all is not possible to fall into ico scam so be careful in choosing a project

[SummerBliss]

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 think there is an option of making a central authority which can regulate such ICOs and create some reporting as well as some working standards for them but the problem is that such a thing would not be appreciated by people in crypto community as they will feel that this is violating the idea of centralization and this will actually make us much more dependent on that central authority and would make their leaders over powered. I still however feel that such an authority would check abuse of ICOs as they are literally playing and mocking with people's money and nothing else.

[judaspriest]

It depends on the choice so you have to know what projects the CEO is running, is it experienced so if you already know it all is not possible to fall into ico scam so be careful in choosing a project

ICO regulations are very important to keep investor funds safe, only in the United States that regulates them, therefore ICO from America if they don't pass the SEC you have to be careful 80% of the project will end up dead

[Kersh768]

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 totally punish them directly because first of all, scam projects are hard to determine at first because like successful project, they also look pleasing and promising to the eyes to be able to attract potential investors to get into their project. But if we can be able to notice this at first base, of course with tough proof, the best thing we can do is to inform the public so that everyone will be able to be informed about such project so that they can avoid to be victimized by such. Informing others to avoid engaging into such project will be our greatest revenge or punishment that we can do for them not to acquire what they really want from us bounty hunters as well as investors so that at first base, scam projects won't be able to launch their project successfully just for their own sake.

[dubovts]

All we can do, really, about scam ico is spreading the word about them as wide as possible and can make an official complain if we have same jurisdiction with them.

[Vishnu.Reang]

All we can do, really, about scam ico is spreading the word about them as wide as possible and can make an official complain if we have same jurisdiction with them.

Not practical at all. First of all, in most of the cases we will find out that a particular ICO is a scam only when the funding phase is over. And by the time we start taking actions, the promoters might have vanished with whatever money they could accumulate. And once they commit the crime, these people usually move to third world nations, where the law enforcement and judiciary can be bribed. This makes it very difficult for the victims to bring these people to face justice.

[makolz26]

All we can do, really, about scam ico is spreading the word about them as wide as possible and can make an official complain if we have same jurisdiction with them.

Not practical at all. First of all, in most of the cases we will find out that a particular ICO is a scam only when the funding phase is over. And by the time we start taking actions, the promoters might have vanished with whatever money they could accumulate. And once they commit the crime, these people usually move to third world nations, where the law enforcement and judiciary can be bribed. This makes it very difficult for the victims to bring these people to face justice.

Yes, it's not applicable to do, as people can easily say you are scam although you are a legit one, so other people will just think you are creating any 'Fud'. Anyway, maybe we can just a file to the police for them, as spreading to the social media that they were scam will not really work, people tried their many times, but still the founders manages to run and continue the platform.

[jhontwis]

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.

[confreslamp]

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.

[ven7net]

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 answer your question, I suggest paying attention to other industries and you will see that they all went through this path. Yes, of course it is very bad when there is a lot of deception and this is what causes a lot of mistrust. However, on the other hand, crypto projects must go this way, and the community should become smarter and better at choosing projects to participate. All we can do is simply inform the community about the fraud and point out the fraud, so we can limit the work of scammers.

[BuNga_cute]

If we find an ICO scam or even fall victim to an ICO scam, it really can't do much. Just be patient and make it as lessons to be more careful
in choosing ICO projects to be followed. For ICO projects, thats true we must be careful in choosing projects to be followed, by carrying out
investigations in a manner overall projects that will be followed. And follow all ICO social media projects that are really active and crowded with
the media social is usually likely to be a real project. Do not be lazy to follow the development of ICO projects that we  are following, more and
more The active developer is a good sign, that the project might not be a scam.

[DimitrisLodirogas]

There are still too many scammy ico's out there. I wouldn't even trust ico project too much/or instead investigate them to their roots as far as possible. Not trying to tell there aren't legit project out there...

[Jocuserious]

Basically more smart investors already forget ICOs so why you not yet? If you take some bad effect a project then you need to leave and try other one even you need follow their web, developing, roadmap, partnership then simply you can understand. Remember it, a good project community very strong and fast with their developing is very promising improve.