Hey Sasha, so happy to find this support group, it's great not to feel alone and helpless at these times. I never sued anybody before and also I don't know how successful that would be anyway since they keep pointing to the terms of the token sale and saying we have no rights. Has there been another example of a scam ICO where the funds were recovered? Do you think it could work in our case?
I also hope to find ways to refund my huge investment in the ICO. I believe this can happen with a 50% chance. Yuluxugi posted a list
https://bitcointalksearch.org/topic/nimiq-scam-5093962 where he pointed out that the Initial Token Offer was done by individuals or by a company. The foundation in Switzerland and the KYC was done after the ITO was completed done. So by this, they have done a illegality in the United States according to the laws in the States. They had do done KYC before selling the ITO, not after selling the ITO. Regarding the chance, i mentioned 50% done. There are some costs involved in the process to sue them. I know there had been done some success by SEC and convicted people. Here are some examples of successful ICO refunds:
Paragon (
https://www.chepicap.com/en/news/5310/sec-demands-ico-refunds-what-will-this-mean-for-crypto-.html )
https://www.geekwire.com/2018/sec-orders-cryptocurrency-companies-return-money-ico-investors-ground-breaking-settlement/A pair of cryptocurrency companies have been ordered to offer money back to investors who participated in their initial coin offerings, which should have been registered with federal regulators, marking the latest move in the government’s bid to regulate the often unpredictable and trendy financial market.
The two companies — Paragon Coin and CarrierEQ — came to settlements with the U.S. Securities and Exchange Commission and will each have to pay fines of $250,000. In addition to returning funds to investors, the two companies will have to file financial statements and other documents that give prospective investors a window into the health of the business, a first for an ICO case.
“We have made it clear that companies that issue securities through ICOs are required to comply with existing statutes and rules governing the registration of securities,” Stephanie Avakian, co-director of the SEC’s Enforcement Division said in a statement. “These cases tell those who are considering taking similar actions that we continue to be on the lookout for violations of the federal securities laws with respect to digital assets.”
Paragon, which raised $12 million in a August 2017 ICO, uses blockchain, the de-centralized record keeping technology that is mostly tied to cryptocurrencies, to manage supply chain tracking for the marijuana industry. CarrierEQ, which is also known as Airfox and provides financial services in emerging markets, raised $15 million in an October 2017 ICO.
The SEC orders don’t accuse the firms of fraud, and the companies didn’t admit to or deny the findings in the settlement. The SEC found that the companies’ tokens, the virtual currency used to support the ICOs, should have been registered as securities, or investments that will make returns for investors should the companies be successful.
Blockvest LLC (
https://medium.com/@listoficomarketing/ico-sued-by-sec-for-false-claims-a5774d914f4b )
Centra ICO and Floyd Mayweather (
https://cryptoslate.com/floyd-mayweather-and-dj-khaled-sued-for-involvement-in-centra-ico-scam/ )
So everything is possible. We can also do some steps before suing them to report their SCAM ICO to different journalists and ICO scam websites including
https://tokentops.com/ico/scam/https://deadcoins.com/https://bitcointalksearch.org/topic/list-of-scam-ico-proved-4981560https://icoindex.com/index/scamWe need to report nimiq as a ICO scam to these websites.