SCAM ICOs, what we can do?

[iv4n]

We don't know what we can do but still situation if you don't get any good project then you can't jump invest in ICOs. Actually people want follow IEOs service at the running time so why you not yet? Take search a good project with trading roadmap, wp then you can invest.

relying on the whitepaper alone is likely to remain difficult, it all depends on the CEO and the team itself, what we need to do is be careful, don't invest too much money, of course it's very risky

Never relay on just one information from one place, you always need to recheck info you see somewhere on other places, same is with wp. It can be written in hours by some skilled people, it can look like the best possible wp, but in the end it will be just a paper!
What we can do about scams in general is to educate ourselves first, and then to educate others. Just people with knowledge can avoid being trapped, or at least people who know have much more chances to avoid traps, while fools will be trapped by ICO's that have cartoon characters for their developers.

[jameshugo17]

Scam ICOs need attention. Scam you need to understand the project. Scam projects can't hurt you. Nobody's forcibly sending you money. The most important feature of ICOs is that they are transparent. You can check the codes from Github. You can ask more experienced friends. Because after we send the money, unfortunately, there is no solution.

[babicena14]

I've thought about it too many times. But I don't see how we can stop an ICO scam. From the little that depends on us and unfortunately we have nothing we can do about this reality.

[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.

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.

Newbie account status, in my opinion is not related to a scam project because they could have paid people with high ranking to create a thread. All that can be done in this forum is to report a scam so that no more investors enter and be more vigilant. As long as there is no government regulation, I think it is difficult to imprison scammers

[robelneo]

I've thought about it too many times. But I don't see how we can stop an ICO scam. From the little that depends on us and unfortunately we have nothing we can do about this reality.

Of course, we can stop them from creating one after the other, by not investing and supporting them anymore, they can and will create more because people are still supporting them, and as long as there are investors who keep supporting this ICO, there are scam ICO coming in to scam those who cannot and will not do research on these projects.

[Drai]

This seems to be the new trend, many projects do not simply scam exit, some just raise some funds and fail to deliver on their projects and leave their price to go to waste until the investors get tired and just quit pestering them and then they quietly ride into the sunset.

Unfortunately there is nothing we can do to them unless it's a security token and then you could probably report them to the proper authorities or regulation is implemented but is regulation the saviour we think it is?

[naikturun]

If we could do something, we would have done it long ago. Therefore, we can only improve our knowledge and security in order not to get caught by scammers.

That may sound as if we are giving up but we are only recognizing the truth, there is nothing we can do about it because it is a problem way bigger than ourselves, the only solutions that we can implement are individual ones, each person has to decide for themselves what it is the best for them, and if they are fine accepting the huge risk of investing in a scam ico then so be it, but if a person decides that investing in such market is taking a risk that he is not willing to accept then that is fine too.

it's like guessing what will happen in the future, and of course this is impossible.
Some people might take the risk, of course, big profits will be achieved if the project is successful.
and some others prefer to invest in coins that are already in the market.

[kaneki007]

Newbie account status, in my opinion is not related to a scam project because they could have paid people with high ranking to create a thread. All that can be done in this forum is to report a scam so that no more investors enter and be more vigilant. As long as there is no government regulation, I think it is difficult to imprison scammers

I think for now it's not just newbie accounts, now there are many accounts that have high rank, but promote scam projects. It might be that the account is paid for or the team from the scam project buy a bitcointalk account with high rank.

[yohananaomi]

Newbie account status, in my opinion is not related to a scam project because they could have paid people with high ranking to create a thread. All that can be done in this forum is to report a scam so that no more investors enter and be more vigilant. As long as there is no government regulation, I think it is difficult to imprison scammers

I think for now it's not just newbie accounts, now there are many accounts that have high rank, but promote scam projects. It might be that the account is paid for or the team from the scam project buy a bitcointalk account with high rank.

The biggest opportunity is of course clear that novice accounts are very capable of committing fraud but open accounts with high ranks cannot do so, but those with high accounts will be more careful in looking for projects to be marketed. because obviously as a high enough account he did not want his reputation to be destroyed or get a red trust status.
but if someone buys a high account to use as marketing a new project it might be very difficult, but at least not long after that account will be reduced.

[Sendi blackspade team]

Newbie account status, in my opinion is not related to a scam project because they could have paid people with high ranking to create a thread. All that can be done in this forum is to report a scam so that no more investors enter and be more vigilant. As long as there is no government regulation, I think it is difficult to imprison scammers

I think for now it's not just newbie accounts, now there are many accounts that have high rank, but promote scam projects. It might be that the account is paid for or the team from the scam project buy a bitcointalk account with high rank.

Is it an accusation or just your estimation of the project scam? logically if the project has been declared a scam, of course, no one will want to join and support their project. but if that happens there is a project that hasn't been proven to be a scam and many accounts with high rankings join it isn't a problem. because it all depends on how our beliefs and abilities in analyzing the project.

[Divinespark]

Honestly, we have no way to punish them, I hope that the laws of the country will help us to limit future ICO scams, every day I see hundreds of ICO projects. newly created for the purpose of stealing investors' money. A lot of new investors were tricked by ICOs in 2018 and 2019 and this situation has no signs of stopping, it will grow stronger if this market uptrend

[yohananaomi]

Honestly, we have no way to punish them, I hope that the laws of the country will help us to limit future ICO scams, every day I see hundreds of ICO projects. newly created for the purpose of stealing investors' money. A lot of new investors were tricked by ICOs in 2018 and 2019 and this situation has no signs of stopping, it will grow stronger if this market uptrend

I doubt that it will be regulated already by the government. They have no full control on what's going on in the internet. All that they can regulate mostly is how the crypto will be converted to local currency through KYC law and I don't think that's even applicable that much to crypto so there's no point to it. I guess teaching investors not to feed these scams would be the only way to go with.

The current situation is true what the friend said above, indeed crypto is sick and sad because a handful of people who make new projects are not for the purpose of developing but only for a momentary profit. so much loss can make money owners hesitant to invest in other new projects. there is nothing that can be done by the state authorities in this matter apart from ourselves to inform each other that the project controller is the same person that has been done on a scam project. we have to support each other for people who have made scam projects, so that they are announced so that they are no longer supported in their new projects.

[b1boy]

As I would like to think, the motivation behind why it appears as though misleading activities are getting their direction is on the grounds that there's a flood of new individuals into the crypto  currency space every day who are not educated or know too much about crypto  and as a rule will in general gain proficiency with the most difficult way possible in the wake of being scammed severally by the scammers .

[Savemore]

I simply ignoring it, I do not focus on ICOs anymore because I know that I will get scam. If we will know how to avoid it then we can save more money. There are more investments that can give us high returns. We should ignore ICOs because it is not a trend anymore and analysts says that we should be careful in making investment with those shit projects because of the risks.

[South Park]

If we could do something, we would have done it long ago. Therefore, we can only improve our knowledge and security in order not to get caught by scammers.

That may sound as if we are giving up but we are only recognizing the truth, there is nothing we can do about it because it is a problem way bigger than ourselves, the only solutions that we can implement are individual ones, each person has to decide for themselves what it is the best for them, and if they are fine accepting the huge risk of investing in a scam ico then so be it, but if a person decides that investing in such market is taking a risk that he is not willing to accept then that is fine too.

it's like guessing what will happen in the future, and of course this is impossible.
Some people might take the risk, of course, big profits will be achieved if the project is successful.
and some others prefer to invest in coins that are already in the market.

And since that is not an ability I have I prefer to stay away from new coins, limiting your potential profits is not something that attracts investors since they are always thinking about ways to make more money, but sometimes the best thing you can do especially when the market is bearish as it was in 2018 and as it has been during the end of this year is to take a very conservative approach to your coins and only invest in very solid projects, and while my profits are nowhere near what other people have gotten at least I am in a better position than all of those that got scammed by new coins.

[dvmmayowa]

Not really sure what we can do to legally punish them but it's not just the offering ICO alone that already has a bad taste in our mouth, but these scam projects are what really affected the market. This is why STO's and IEO's invented to somehow protect us investors and at the same time, provide more liquidity. Binance are listing promising coins that have real partnerships with existing big companies and not just done verbally, which can translate for the project to be serious/legit. The crypto community have already learned a lot over the past few years and has grown weary of what platforms and projects to trust.

Even if we try regulating it, there are still some projects that appears good initially, operate transparently and even list on big exchanges but along the line, developers and team may decide to get greedy and dump massively, hence abandoning the project.
The more reason why i think initial model offering is the best alternative we have right now.

[lousie9]

it is a world that they have created themselves, so it is not surprising that there are so many fraud projects in the cryptoqurrency industry. we have passed 2 seasons where the ICO project is no longer profitable for investors, there are many problems that occur in this industry. and for me personally no longer investing in ICO projects, I prefer to add a collection of coins that are truly worth the investment according to my research.

[maruf01788]

Smart person always research thousands Times  before investing. Most of ico are scam so many investors leave ico and move to ieo. We should ignored it. I think It is the best punishment for scammer.        

[thesmallgod]

It s hard to say you wanna punish them because many of these scammers run a fake identity meaning it is difficult to trace them. Unfortunately, Scam is still very common but what I have realized is that many investors are now considering other options rather than being scam by the ICO. It was painful to see how retiree was begging the dev to give his money back which means a lot of people sacrifice all that they have just to invest but end up being duped by these ICO developers. I think to be on a safer side, It is advisable to consider taking part in a project that is legally registered in some countries across Europe because according to my findings, many of project from this region that is legally registered and their business registration can be confirmed online don't usually scam investors. The worst to return the money contributed back. Lbx has done that last year

[Sanugarid]

If we could do something, we would have done it long ago. Therefore, we can only improve our knowledge and security in order not to get caught by scammers.

That may sound as if we are giving up but we are only recognizing the truth, there is nothing we can do about it because it is a problem way bigger than ourselves, the only solutions that we can implement are individual ones, each person has to decide for themselves what it is the best for them, and if they are fine accepting the huge risk of investing in a scam ico then so be it, but if a person decides that investing in such market is taking a risk that he is not willing to accept then that is fine too.

it's like guessing what will happen in the future, and of course this is impossible.
Some people might take the risk, of course, big profits will be achieved if the project is successful.
and some others prefer to invest in coins that are already in the market.

And since that is not an ability I have I prefer to stay away from new coins, limiting your potential profits is not something that attracts investors since they are always thinking about ways to make more money, but sometimes the best thing you can do especially when the market is bearish as it was in 2018 and as it has been during the end of this year is to take a very conservative approach to your coins and only invest in very solid projects, and while my profits are nowhere near what other people have gotten at least I am in a better position than all of those that got scammed by new coins.

You have actually nothing to do with that if the ICO is scam. Maybe you can together report the manager itself for being a liar but it is actually part of being a good investor, you should learn from these things and prevent that part to happen again. Scammers are everywhere since we are in a digital world and we are talking about money here that makes investing risky. That is why we should not trust people we dont know because we dont know what their true intention is. But if you study what they really offers maybe you can prove if that is true or a liar. You can report users that are trying to scam you. Information is the key to success especially when you are investing. You should study an learn.