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Cherylstar86

sr. member

Activity: 1484

Merit: 253

Quote from: lili song on November 14, 2017, 04:26:21 AM

Before try to invest, make sure that you've fully observe the ICO project because there is no guarantee that the project will keep running.
Just think before start to invest, cryptocurrency is not ordinary investation, it's a risk investation so you must prepare for lossing rather than winning.
Make sure do not click any unknown link for prevent any malware attempt since criminal getting advance from time to time.

Yes that's absolutely in danger of possible malware attacks so we better be careful and always be safe when checking those link associated with the so called project ICO. Those ico that has signs of scams might have no records on selling histories on ether scan, that's why we really need to check the website or any whitepaper or ann thread discussions. With that ample ways you can determine the actual scenario on how the ether token will be successfully be launched at tradings site or might be a failure.

lili song

hero member

Activity: 980

Merit: 509

Before try to invest, make sure that you've fully observe the ICO project because there is no guarantee that the project will keep running.
Just think before start to invest, cryptocurrency is not ordinary investation, it's a risk investation so you must prepare for lossing rather than winning.
Make sure do not click any unknown link for prevent any malware attempt since criminal getting advance from time to time.

jseverson

hero member

Activity: 1834

Merit: 759

You can't take any legal action unless the country you are in has already passed legislation regulating them. Some countries have already done this, with some even going to the extreme of outright outlawing them.

If you don't live in one of these countries, then I suppose the best you could do is simply spread awareness. ICOs can be legitimate, but the current overwhelming majority are scams that are designed to run away with your money. Just tell it like it is. One less scammed investor a day can add up and go a long way.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

And they are spamming inboxes on bitcointalk. I got an invitation to something called fidget spinner coin or whatever. ETH based coin of course Wink

They will keep making money on it until people learn and start being cautious. The same thing was being done with fake mining hardware companies that asked you to preorder non existing miners and cloud mining companies that made you buy mining power they didn't have. The only way is to ask them for as many personal details as possible and ask them questions about the project or just stay away from new altcoins made by an unknown dev team.

jekjekman

sr. member

Activity: 378

Merit: 250

That is one of the main reasons why some other countries are starting to regulate cryptocurrency exchanges and ICOs because of a huge money that is being involve inside of it and the people who used to invest their hard earned money are being scam by different crypto related investment companies that promises a money in return after they develop something with their ideas.

Almost anyone can really create their very own ICOs though because the laws in here is not that concrete so being vigilant is the number one priority as there are no 100% assurance in everything.

ldah94

full member

Activity: 350

Merit: 102

I believe that this goes beyond the authorities, is a problem that must be solved by the same community of cryptocurrencies, place more restrictive requirements when allowing these airdrops, and have more reasoning from us investors to not leave that they cheat us and make these scammers public

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: greenprateek on November 10, 2017, 10:21:45 PM

It has become a common practice to launch an ethereum token and just dump it .

A new token and a new airdrop is being done every day. A new project is launched, then airdropped. A telegram group is created where all sort of big promises are made. Every one is asked to make donations or buy the coins on etherdelta to support the project and raise the price and when dev feels he just dumps all the remaining coins and vanish.

I just can't forget that evening , when I was having discussion with ethergold dev in their discord group, he made so many promises and I went ahead and bought 1 eth worth coins. Next day morning when I wake up , everything was gone. There was no website, no discord .

Now these guys have started a new thing, they ask for 0.01 or 0.001 eth donation for donation. They call it anti scam check.

Even though the B2X was called off that day, a B2X on ether was launched .

Is there a way to stop this. Can we take any legal action?

If someone takes a legal action against one of these I think it would set an example and this might stop. But I know it will not be easy as there are countries which have no or very week cyber laws. But still I want to do something about this. Lot of newbies get burned due to this. Its bringing bad name to crypto too.

That's the unique thing about the crypto community, everyone is free to propose an idea why everyone is equally free to either accept or ignore them you chose to accept his empty promises. The issue of legality here would be possible if you know the location the individual is resident and also if the crypto currency is developed to the point it can be heard in the court of law at the his place of residence or else, it will just be an endless journey without victory because justice in some other part in the world, is more scare than air.

However, there is a saying that 'prevention is better than cure' and that's where you should focus on rather than the above route. You have seen the way its being done, you have learnt your lessons move on and never fall for such. Create awareness so others won't fall more because for you to have been duped, others have been duped as well.

greenprateek

newbie

Activity: 4

Merit: 0

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