Topic: Do scam ICOs really taken to the court? - page 3. (Read 616 times)
Not yet many scammer developer ICO enjoy much money from their scam ICO project, just with few countries really process the scammer of ICO developer where Centra coin owner ever taken to the court in United State, with other many scam project ICO never heard with their cases with court and looks happy after scam many investor with their ICO project.
I saw some of the scam busters in the forum talking about taking the case to the court on scam ICOs, my question is, is it really happening.
Taking these scammers to court by an individual is a huge task as the amount of money you need to spend to fight these scammers will take a huge toll on anyone, i am expecting some government agencies investigating frauds take up these cases. I have not heard anyone taking anyone to court as that is not my area of expertise. 
I bet these cases are vanishingly rare, most people just like to talk about scams and punishment and nobody is trying to do something valuable. And the task is really difficult sometimes, crypto market is like a wild west 
sometimes fraud cases as far as I know are only reported and for court issues it will be difficult to realize because most fraud is done anonymously. and for any report I think it will be difficult to make a detailed report because in the litigation it requires data to reinforce the mistakes made by fraudsters. legendary
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I bet these cases are vanishingly rare, most people just like to talk about scams and punishment and nobody is trying to do something valuable. And the task is really difficult sometimes, crypto market is like a wild west
even though they tried to bring it to court, it seemed like it also required huge funds. I think that things like this can be brought to justice when it is quite clear who the team behind this is, and whereabouts are known. otherwise, it will certainly require a large fee. This is also done by large investors. 
Many of the investors who have been victims of scam ICO campaigns have lost their investment because the ico don't have any identity. And even if they report it to the SEC overseas they probably won't do it as well because they have no lead. especially other scam ICOs that fake the registry in sec, so be careful and if you are not sure of the investment to be entered then do not proceed to prevent victimization.
Form of fraud prevention is the main thing that actually has to be done, because there are still many laws in several countries for crypto not yet available. so experiencing problems can not report fraud ico, because the law is not yet available. maybe in a developed country it might be possible, but are they also registered and recognized and the company is clear. this is also a separate obstacle, correct as colleagues above, prevention is the main thing.Additionally, they do raise the funds onto some cryptocurrency addresses which are never an easy task to track down so it might keep them anonymous. The most advanced step taken against such projects would be busting them but yet catching the owner of that project would be most difficult task.
I bet these cases are vanishingly rare, most people just like to talk about scams and punishment and nobody is trying to do something valuable. And the task is really difficult sometimes, crypto market is like a wild west
If the scam originated from the USA then it is easier to pursue with court cases I think. But if it is outside the USA, I don't think it is that easy as laws are different slightly in other countries.
Many of the investors who have been victims of scam ICO campaigns have lost their investment because the ico don't have any identity. And even if they report it to the SEC overseas they probably won't do it as well because they have no lead. especially other scam ICOs that fake the registry in sec, so be careful and if you are not sure of the investment to be entered then do not proceed to prevent victimization.
Form of fraud prevention is the main thing that actually has to be done, because there are still many laws in several countries for crypto not yet available. so experiencing problems can not report fraud ico, because the law is not yet available. maybe in a developed country it might be possible, but are they also registered and recognized and the company is clear. this is also a separate obstacle, correct as colleagues above, prevention is the main thing. 
Some cases have been to court and about cryptocurrencies as well. The most recent one I found is about Telegram with its ICO.
https://cointelegraph.com/news/court-denies-sec-request-to-make-telegram-reveal-ico-bank-records
It's about the SEC requesting the bank records of Telegram for regulatory purposes and making sure that Telegram has abided to the data privacy laws, both foreign and local privacy laws.
As long as the ICO is a fraud, I think it is being taken into court, especially if there are a lot of affected people.
In the last link below, there's a table where SEC-Crypto cases are listed. Maybe you guys would find it interesting too.
Some researched links with ICO and court:
https://financefeeds.com/maksim-zaslavskiy-gets-18-month-prison-sentence-ico-fraud/
https://financefeeds.com/sec-reveals-details-plexcoin-ico-scam/
https://qz.com/1720295/after-4b-ico-block-ones-24m-sec-settlement-lets-it-keep-building/
https://cointelegraph.com/news/court-denies-sec-request-to-make-telegram-reveal-ico-bank-records
It's about the SEC requesting the bank records of Telegram for regulatory purposes and making sure that Telegram has abided to the data privacy laws, both foreign and local privacy laws.
As long as the ICO is a fraud, I think it is being taken into court, especially if there are a lot of affected people.
In the last link below, there's a table where SEC-Crypto cases are listed. Maybe you guys would find it interesting too.
Some researched links with ICO and court:
https://financefeeds.com/maksim-zaslavskiy-gets-18-month-prison-sentence-ico-fraud/
https://financefeeds.com/sec-reveals-details-plexcoin-ico-scam/
https://qz.com/1720295/after-4b-ico-block-ones-24m-sec-settlement-lets-it-keep-building/
I saw some of the scam busters in the forum talking about taking the case to the court on scam ICOs, my question is, is it really happening.
Can you give me scam ICO that was already taken to the court and teams are being punished?
I know about Centra.. so give me others.
Im not already aware on what happened to those scams that had been bust up and have been taken to the court yet i read up that there were files and legal complaints but i do lost track because when ICO market turns out to be shitty i decided not to look back but im pretty aware with that Centra scam which Mayweather is been tagged up with that one. Can you give me scam ICO that was already taken to the court and teams are being punished?
I know about Centra.. so give me others.
Only those who were involved in major scams have been referred to court but still most of the mid level scam projects get away easily as they remain anonymous and hires the entire team through proxies wherein the the management team will be hired on token basis but the culprits will not reveal their identity. I had been approached for something similar in the past.
In many courts, it is very difficult to consider such cases. There are such countries, for example, Russia where cryptocurrency does not appear in the legal field at all and it is very difficult to initiate a criminal case and bring to justice under any article.
I think it is not only the Russian state that prohibits the circulation of cryptocurrency and scamer not only from that country, many countries have legalized to conduct transactions using cryptocurrency but there are still many who do scam, so the legality of cryptocurrency does not provide guarantees to avoid thieves under the guise of ICO or IEO. 
Some scam ICO projects like Centra, Envion, Plex and of course Bitconnect that raised huge money got the punishment, but that wasn't enough! Most of the scam ICO hasn't gotten any kind of sentences from anywhere! They came, took people's money and no one knows them, totally vanished! I strongly believe these scam ICO ruined the popular sale system in the crypto industry!
Yes. This is one that I just recently read as I tread into the history of ICOs.
First here's the link to what I'd read: https://cryptovest.com/news/celebrity-ico-endorsers-taken-to-court-over-alleged-crypto-scam/
I guess there are even celebrities that even support ICOs in crypto (DJ Khaled and Floyd Mayweather mentioned in the article). It is just saddening that investors were also being deceived by these popular celebs.
First here's the link to what I'd read: https://cryptovest.com/news/celebrity-ico-endorsers-taken-to-court-over-alleged-crypto-scam/
I guess there are even celebrities that even support ICOs in crypto (DJ Khaled and Floyd Mayweather mentioned in the article). It is just saddening that investors were also being deceived by these popular celebs.
I saw some of the scam busters in the forum talking about taking the case to the court on scam ICOs, my question is, is it really happening.
Can you give me scam ICO that was already taken to the court and teams are being punished?
I know about Centra.. so give me others.
Bitcoinect is one of the projects I know. This is the largest scam project in this market and it caused a lot of investors to lose money in the period 2017-2018. And of course they were punished by the laws of the relevant governments. There are still a lot of scam projects in this market and they haven't been brought to court yet, I hope they will one day be legally responsible and we will have some new laws for ICOs and IEO Can you give me scam ICO that was already taken to the court and teams are being punished?
I know about Centra.. so give me others.
There are many scam ICO's that have been taken in the court but because of lack of regulations of crypto, most of them aren't punished.
Bitconnect is one of the worst scam that ever happened to crypto (I disregarded Mt. Gox because it is not scam but it is bankruptcy) but the creators of this coin are now freely doing whatever they want - in short they didn't receive any punishments. Some scam famous ICO scams are Envion and Centra. There are some but it is not a popular one.
Bitconnect is one of the worst scam that ever happened to crypto (I disregarded Mt. Gox because it is not scam but it is bankruptcy) but the creators of this coin are now freely doing whatever they want - in short they didn't receive any punishments. Some scam famous ICO scams are Envion and Centra. There are some but it is not a popular one.
It is sad to know that they are on the edge of receiving the punishment accordingly but been prevented by lack of regulations thus they could escape from it away. The real case isn't about the scam project but the concrete law that needs to exist in order for this frauds be lessen, at least. Because they knew what nightmare are waiting for them ahead.
In many courts, it is very difficult to consider such cases. There are such countries, for example, Russia where cryptocurrency does not appear in the legal field at all and it is very difficult to initiate a criminal case and bring to justice under any article.
Many of the investors who have been victims of scam ICO campaigns have lost their investment because the ico don't have any identity. And even if they report it to the SEC overseas they probably won't do it as well because they have no lead. especially other scam ICOs that fake the registry in sec, so be careful and if you are not sure of the investment to be entered then do not proceed to prevent victimization.
You make me still remember with centra although received from bounty campaign but I made bigger mistake in the world with keep holding centra coin until become scam and delist from binance exchange market, the real problem with centra ICO because the owner look get problem with their country regulation with SEC and make many investor buy with higher price more than $5 each coin but faced with scam coin.
That project is promising at first and could succesfully gather quite the funds but get rekt by the foolish developer and a hard lesson for any people out there who just blindly invest into something not worth it more specifically a project that is so wrong in the perspective of law and regulations.If there's any ICO taken to the court, they must have some strong reasoning that could convince the government to take action into that further and don't expect too much at this point.
it depends on some factors such as the countries and also maybe the business is legally registered. If you check very well, you will see that most ICO that eventually turn to the scam are not legally registered in the country it claims to be operating from and many of them are not from country like Canada, UK, Australia, and other related countries
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