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Topic: A new form of cheating teams ICO - page 3. (Read 853 times)

jr. member
Activity: 112
Merit: 2
November 11, 2018, 01:34:56 PM
#33
You're wrong. Because almost all projects indicate such an item. The team can change the rules at any time. What does this mean? That the law of law does not help here.

I'm sorry but KYC is such a sensitive item as it involves doling out personalized documents to unknown online entities whose real intentions with those documents can not known. While I agree that the bounty manager reserves the right to change the rules at any time, I'm still of the opinion that bounties should state it ab initio as a requirement for participation and claim of earnings.
sr. member
Activity: 532
Merit: 250
The Exchange for EOS Community
November 11, 2018, 12:49:30 PM
#32

The ICO teams are now applying to bounty hunters a new form of fraud, with which something needs to be done - this is an unspecified earlier test of KYC after the end of the ICO.

As a lawyer, I can say that the conditions for joining the ICO generosity campaign are in fact one of the types of contracts with so-called implicit, that is, silent actions. The fact that we further fill out their form of accession means that we have agreed to their terms of the contract.

In any contract there are so-called essential terms of the contract, which must always be specified. If at least one of them is not specified, the agreement on the decision of the court may be invalidated. The contract price, that is, the amount payable to bounty hunters, is one of the essential conditions of the contract and must be clearly stated. If it can change, it should be indicated in what cases and by how much. Otherwise, such a contract will be invalid. If in the terms of accession it is only generally indicated that any conditions may be changed, then such a piece of paper cannot be recognized as a contract and will in any case be illegal.

If the contract is made and executed, one of the parties is not entitled to declare additional substantial payment terms that were not previously agreed

In this case, this should be considered an ordinary fraud, and the ICO team should bear the material, and in the case of the intention of such actions, the criminal liability for fraud, that is, the seizure of another's property by deception or abuse of trust.

What do you think we need to do in this case with such fraud?

"As a lawyer" you should use more justified wordings than "I can say". Provide us codes of laws you rely on.
Also this is not new type of fraud(if we can call it so) and there is nothing anyone can do about it still. Maybe you got fresh solution??
jr. member
Activity: 266
Merit: 1
November 11, 2018, 11:39:21 AM
#31
Fighting fraud in ico projects is meaningless. Since it all happens on a voluntary basis. All investors seem to me to know and realize that investing in new projects is risky. So they are aimed at collecting money. There are no well-developed tools for tracking and punishing people who deliberately create a company with the purpose of subsequent deception of investors. There are no institutions of punishment and tracking. Since all coins are decentralized. And not protected by the law of any state.
member
Activity: 284
Merit: 10
The Exchange for EOS Community
November 11, 2018, 11:26:18 AM
#30

The ICO teams are now applying to bounty hunters a new form of fraud, with which something needs to be done - this is an unspecified earlier test of KYC after the end of the ICO.

As a lawyer, I can say that the conditions for joining the ICO generosity campaign are in fact one of the types of contracts with so-called implicit, that is, silent actions. The fact that we further fill out their form of accession means that we have agreed to their terms of the contract.

In any contract there are so-called essential terms of the contract, which must always be specified. If at least one of them is not specified, the agreement on the decision of the court may be invalidated. The contract price, that is, the amount payable to bounty hunters, is one of the essential conditions of the contract and must be clearly stated. If it can change, it should be indicated in what cases and by how much. Otherwise, such a contract will be invalid. If in the terms of accession it is only generally indicated that any conditions may be changed, then such a piece of paper cannot be recognized as a contract and will in any case be illegal.

If the contract is made and executed, one of the parties is not entitled to declare additional substantial payment terms that were not previously agreed

In this case, this should be considered an ordinary fraud, and the ICO team should bear the material, and in the case of the intention of such actions, the criminal liability for fraud, that is, the seizure of another's property by deception or abuse of trust.

What do you think we need to do in this case with such fraud?


kyc's must not be required for bounty hunters because we are an extension of the projects marketing arm to promote the product and we are not customers. i am voting for more strict ico projects. they must be regulated.
member
Activity: 292
Merit: 11
November 11, 2018, 11:23:16 AM
#29
Why participate in a project where KYC is required, if you also doubt the legality of the ICO and its team. I always pass by such projects, as my reputation and time are more important! Wink
hero member
Activity: 924
Merit: 500
November 11, 2018, 11:19:47 AM
#28

The ICO teams are now applying to bounty hunters a new form of fraud, with which something needs to be done - this is an unspecified earlier test of KYC after the end of the ICO.

As a lawyer, I can say that the conditions for joining the ICO generosity campaign are in fact one of the types of contracts with so-called implicit, that is, silent actions. The fact that we further fill out their form of accession means that we have agreed to their terms of the contract.

In any contract there are so-called essential terms of the contract, which must always be specified. If at least one of them is not specified, the agreement on the decision of the court may be invalidated. The contract price, that is, the amount payable to bounty hunters, is one of the essential conditions of the contract and must be clearly stated. If it can change, it should be indicated in what cases and by how much. Otherwise, such a contract will be invalid. If in the terms of accession it is only generally indicated that any conditions may be changed, then such a piece of paper cannot be recognized as a contract and will in any case be illegal.

If the contract is made and executed, one of the parties is not entitled to declare additional substantial payment terms that were not previously agreed

In this case, this should be considered an ordinary fraud, and the ICO team should bear the material, and in the case of the intention of such actions, the criminal liability for fraud, that is, the seizure of another's property by deception or abuse of trust.

What do you think we need to do in this case with such fraud?

If they pay the promised amount of tokens, it is not a scam. I know that lot of people here care about their identities, but you cant fight with it. These things are ereqired by governments, not because ICOs invent it.
sr. member
Activity: 714
Merit: 251
November 11, 2018, 11:16:58 AM
#27
Kyc is like two sides of a coin, where on the one hand it is used to avoid fraudsters who try to make a profit, on the other hand if it falls into the hands of irresponsible people, it will be misused
We never know until a project that requires Kyc to turn into fraud or legal
Most of the projects that require KYC are scam, and they will have bad intentions with our information. I have always suspected they would take action to buy our information to make more profit
member
Activity: 658
Merit: 13
November 11, 2018, 11:11:28 AM
#26
if it does require KYC, participants should be notified from the start. I personally have no problem with or without KYC, but telling participants to do KYC when the campaign ends is like a lie and I don't like it. but apart from all that the bounty participants were always harmed. if we reject KYC we don't pay.
sr. member
Activity: 588
Merit: 254
November 11, 2018, 11:10:26 AM
#25
I think KYC for bounty hunters puts more emphasis on preventing the use of multiple accounts, even though it doesn't really matter, but at least can reduce these actions, I myself still agree with KYC use as long as the conditions they want are not too complicated, and the rights of every bounty hunter to choose if indeed KYC is very risky towards privacy, then choose bounties that do not use KYC, because even if they use KYC, they do not guarantee their project runs well
full member
Activity: 271
Merit: 100
November 11, 2018, 11:00:00 AM
#24
You're wrong. Because almost all projects indicate such an item. The team can change the rules at any time. What does this mean? That the law of law does not help here.
The team has been putting the agreement if the team can change the rules anytime as they want. Remember about the contract is undercontrol by the team and so many times the boun participants are getting scammed by them all. it's the fact and i can't be denied.
member
Activity: 448
Merit: 11
November 11, 2018, 10:59:10 AM
#23
Kyc is like two sides of a coin, where on the one hand it is used to avoid fraudsters who try to make a profit, on the other hand if it falls into the hands of irresponsible people, it will be misused
We never know until a project that requires Kyc to turn into fraud or legal
full member
Activity: 770
Merit: 102
Matrix Built On An Ethereum Smart Contract
November 11, 2018, 10:51:29 AM
#22
Though there is no legal requirement for KYC for bounties for KYC AML reasons since no payment for tokens actually takes place. It has nonetheless become ubiquitous as ICO's try to weed out the increased incidence of people signing up to bounties using multiple identities. I would say that if you are not prepared to identify yourself you should probably not do anymore bounties.
full member
Activity: 373
Merit: 100
November 11, 2018, 10:35:27 AM
#21
Now I find that bounty hunters are on the weak side. Bounty hunters have no legal rights to protect them. The project team and the bounty manager can unconditionally modify the rules and extend the bounty time. This market needs regulation to ensure that the rights of bounty hunters are protected.


That should be materialized to protect the bounty hunters, it seems that due to a bear market, many Ico are doing this kind strategy to give difficulties to the hunters and backing out.
full member
Activity: 448
Merit: 100
November 11, 2018, 10:12:31 AM
#20
Now I find that bounty hunters are on the weak side. Bounty hunters have no legal rights to protect them. The project team and the bounty manager can unconditionally modify the rules and extend the bounty time. This market needs regulation to ensure that the rights of bounty hunters are protected.

member
Activity: 332
Merit: 10
November 11, 2018, 10:08:49 AM
#19
Of course announcement of kyc after ico is unfair and illegal. But for now there's nothing we can do. This should be absolutely obligatory to define and announce whether kyc is compulsory or not before ico starts.
member
Activity: 1120
Merit: 30
Bisq Market Day - March 20th 2023
November 11, 2018, 10:03:12 AM
#18
KYC should be specify before the start of the bounty campaign else the sudden change of the law do not stand; which is tactically fraud in legal terms. Let all bounty hunters rise up with one voice to fight for their right. Observing KYC when many of these campaigns are scam with dead token is awkward, lets go back to the former when all laws (ie) terms and conditions are spent out before the start of the bounty campaign.
full member
Activity: 415
Merit: 100
November 11, 2018, 10:00:06 AM
#17

The ICO teams are now applying to bounty hunters a new form of fraud, with which something needs to be done - this is an unspecified earlier test of KYC after the end of the ICO.

As a lawyer, I can say that the conditions for joining the ICO generosity campaign are in fact one of the types of contracts with so-called implicit, that is, silent actions. The fact that we further fill out their form of accession means that we have agreed to their terms of the contract.

In any contract there are so-called essential terms of the contract, which must always be specified. If at least one of them is not specified, the agreement on the decision of the court may be invalidated. The contract price, that is, the amount payable to bounty hunters, is one of the essential conditions of the contract and must be clearly stated. If it can change, it should be indicated in what cases and by how much. Otherwise, such a contract will be invalid. If in the terms of accession it is only generally indicated that any conditions may be changed, then such a piece of paper cannot be recognized as a contract and will in any case be illegal.

If the contract is made and executed, one of the parties is not entitled to declare additional substantial payment terms that were not previously agreed

In this case, this should be considered an ordinary fraud, and the ICO team should bear the material, and in the case of the intention of such actions, the criminal liability for fraud, that is, the seizure of another's property by deception or abuse of trust.

What do you think we need to do in this case with such fraud?


Unfortunately very few ICOs have any legal personnel at such an early stage and overlook such things. And at the same time there is little that can be done to stop it. I just submit to the fact that if I have to do some KYC then I will but it's still an annoyance and something I would much rather not do but at the end of the ICO the power is always with them instead of the bounty hunters. We don't fill in the form, we don't get paid.  Sad
member
Activity: 546
Merit: 11
November 11, 2018, 09:57:17 AM
#16
If the project team cuts the bounty pool for no good reason, then Yes it is a scam.
member
Activity: 392
Merit: 10
November 11, 2018, 09:41:43 AM
#15
I propose to the author, as a lawyer, to file the first lawsuit on the basis of the above stated thought. This will be a rather extraordinary case in a court case that can bring you great fame.
And now all your non-obedience absolutely nothing. As long as ico will not pass the hard registration and their tokens will not be recognized as a security, I will not be any kind of kyc
jr. member
Activity: 252
Merit: 1
“The Protocol for the Audience Economy”
November 11, 2018, 09:32:39 AM
#14
Thanks for this, I agree with what you are saying. This is most definitely a form of contract. I think projects will keep trying their best to get around things like this. Regulation needs to come to this space fast
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