Do scam ICOs really taken to the court? - page 4.

kaya11

full member

Activity: 1302

Merit: 110

Quote from: ecnalubma on January 13, 2020, 09:29:52 PM

I think only big scam projects are taken to court if its small time projects scammers can easily fly away and thats sad reality. Will never know but its up those victim’s on where they will bring their complaints and charges to bad actors up to what level but maybe some of them just gave up chasing justice.

I hope it could be changed. The way the justice system in the crypto space is just so lame. Most ICO projects have slipped from the shackles of the court. If only this could be solved, I think investors will have more assurance and will feel safe, also they could lead to investing more and projects leading in a successful state.

anjiitem

sr. member

Activity: 784

Merit: 250

Vave.com - Crypto Casino

Quote from: bassbity on January 14, 2020, 01:36:03 AM

Quote from: aioc on January 14, 2020, 01:26:58 AM

Quote from: Maslate on January 13, 2020, 07:41:36 PM

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.

There are ICO's and scam projects that are prosecuted but their number is very small compared to the number of scammers and those who run away with money, one of the reason is, the distance if you are investor from Asia and you invested in a project that is based on Europe you will have to travel and spend your money, and you need more funds to file charges.

That's the hard thing to do if you want to sue, you have to have strong evidence, even if you are a investor with millions of dollars, then I think it needs to be tapped out, even though the cost is very expensive too, but on average now a small investor by a deceptive ICO project becomes difficult too. to sue because it is constrained by costs.
Scamer is currently still on the prowl and difficult to judge because it is difficult to access.

It does require a large enough cost to do so, but for investors who invest in millions of dollars I think they will file a claim against what they have gotten and will report it and try to find evidence they have. But it is indeed difficult to access scammers because some also use false information and not information about themselves so it will be difficult to track these people.

LogitechMouse

legendary

Activity: 2422

Merit: 1036

Chancellor on brink of second bailout for banks

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.

Xxmodded

sr. member

Activity: 2254

Merit: 309

Seabet.io | Crypto-Casino

Quote from: Maslate on January 13, 2020, 07:41:36 PM

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.

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.

OrangeII

hero member

Activity: 2072

Merit: 503

#SWGT PRE-SALE IS LIVE

as far as I know, it is only a case regarding centra. these can be brought to court if they have a clear team and location. some cases like centra seem to be related to escaping by bringing in investor money, so the CEO of the centra is known. some ICOs have fake teams so it is difficult to bring them to court, and others are still making developments to this day even though many people doubt the development of the project.

sana54210

legendary

Activity: 3178

Merit: 1128

Quote from: Maslate on January 13, 2020, 07:41:36 PM

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.

Well, there are a number of ICO projects who were filled in the court for the attempt to scam the investors and most of them are behind bars currently so it makes us feel more secured. As those projects used their real identity so it made easier to catch those project owners and file a case against them but yet there are thousands of scam projects who have ever revealed their real identity and it makes them anonymous and hard to catch.

Perhaps the same scam ICO owners might be re-launching a number of projects to scam the investors by using a lot of advanced techniques which makes it a lot difficult to catch them and file and case against them. I personally was speculating bitconnect and the owners of that specific project were held in court.

angrybirdy

sr. member

Activity: 966

Merit: 276

★Bitvest.io★ Play Plinko or Invest!

Quote from: Pinkris128 on January 14, 2020, 06:40:48 AM

Quote from: Maslate on January 13, 2020, 07:41:36 PM

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.

I don't think scam ICO projects have been taking to the court because cryptocurrency is untraceable that even the team members of the project shows their identities or information about themselves you are still not sure if it is all real, that is why people who got scam have nothing to do about it.

Here are some projects, pleaser refer below

There are also a lot more court cases but currently this is actually the biggest issue lately.

Quote from: Teraboy on January 13, 2020, 08:56:28 PM

Plex coin, diamond ico, bitconnect, ReCoin and many more. It's good to see that those scam busters are aware of that and they wanna take the scam ico to the court and i hope that will be happening in the future.
But the problem is how they can deal with the regulation that is always different in many countries.
Let's say when you are located in US and the scammers are coming from abroad and how can you deal with it? i think that the possibility to make a report to the security exchange commission like SEC and that institution will try to create a call for another country to take any action to that scam ico.

traderethereum

hero member

Activity: 2870

Merit: 574

Quote from: Maslate on January 13, 2020, 07:41:36 PM

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.

I don't think that the government will be easy to catch them as I believe they are run away from their place without anybody knows where they are now living. The project was abandoned, the team is also run away, and I don't think that their team is a real person, and maybe they use a fake identity and photo to convince the investors. I think the government will not publicize the scam ICO or the team that has been scam people to the public, and they will punish that team in secret places.

But in the future, there will be many other scam projects with the fake teams that are trying to trick the investor so the scam people can get the investor's money. We need to be careful to invest in one program or project, and it is better to search for more so we can avoid the scam from them.

Pinkris128

sr. member

Activity: 812

Merit: 262

Quote from: Maslate on January 13, 2020, 07:41:36 PM

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.

I don't think scam ICO projects have been taking to the court because cryptocurrency is untraceable that even the team members of the project shows their identities or information about themselves you are still not sure if it is all real, that is why people who got scam have nothing to do about it.

fuer44

sr. member

Activity: 1638

Merit: 262

so far I have not seen the truth. I even participated in a project that has cheated thousands of people after almost half a year. investors and bounty hunters don't get anything at all, and in their official thread, the manager just says sorry because there is one team that ran off with the money. but there is no confirmation that they are entering legal channels. I think crypto hasn't arrived there, even today it's still considered an asset that isn't legal.

Hallmader

sr. member

Activity: 1123

Merit: 253

I doubt if the numbers are high in terms of scam ICOs that were really brought to court, much less to justice. If there are, only a handful, very tiny fraction compared to the very high incident of scam ICOs. For all we know, scam ICOs are the main reason why the ICO market is now performing terribly.

ice18

hero member

Activity: 2492

Merit: 542

Many investors lost money on SHOPIN ICO last year and recently I found out that the CEO of this ICO has been charged by SEC with Fraud, It just happen that I also joined the bounty of this project before and paid nothing.
https://www.coindesk.com/sec-charges-shopin-ceo-with-fraud-over-unregistered-42m-ico

Bossfidelity

copper member

Activity: 350

Merit: 1

The truth is that several regulations and practices are evolving in the cryptocurrency space and scam ICO's are getting the attention of the law Court especially in their countries of origin. Most countries have a laid down law or regulations on fraud and money laundering and this acts could be used to bring scammers to the book.

Rosilito

sr. member

Activity: 658

Merit: 274

Wish for the rain? Then deal with the mud too.

Quote from: Mia44 on January 13, 2020, 11:50:22 PM

those are actually a handful, there are still a lot of scam projects that have been missed, and the crooks are still free. ICOs are an easy form of crowdfunding but there are no clear rules, investors can hardly get their money back if the project is a scam. So protect yourself before expecting law.

That's not surprising 'cause even the real life such scam cases are being missed. That is why lots of ICOs are just wandering around fooling people they are full of themselves knowing that they won't be held for such unlawful acts. If laws are going to be in effect with this, it would totally be a different game. So, I agree with you man, be cautious before participating the very least we can do.

Baby Dragon

sr. member

Activity: 896

Merit: 272

OWNR - Store all crypto in one app.

Quote from: Pamadar on January 14, 2020, 02:35:43 AM

Quote from: BitDane on January 14, 2020, 02:09:15 AM

There are some that were brought to the court but majority are still free and creating dozens of scam company everyday. The project were probably accused but the persons behind this project just evading it by moving to other countries that has no strict rule about cryptocurrency and ICOs.

Sad truth about those scammers, most of them are still free and still part of newly created projects though they are not revealing their identities but
they just jumped into another team and work with them as there's nothing happened before. Some might face the trial but most are still free and
still doing the same thing.

They are able to manipulate the situation that's why they don't suffer the consequences of their actions, which probably means that they are still capable on doing the same mistake. It should be the reason why we have to be cautious before investing, we have to make sure that it's legit, worth it and profitable because we can't easily say their true intention. Particularly these days that scammers are getting wiser, they will look for opportunity to get the benefits they wanted. We can't change the fact that some new projects are made to deceive and take advantage of people so be careful so you'll not end up falling into their tricks. I just hope that karma finally hits them so they will realize how they affect someone's life and turn it into a miserable one, they deserve to be punished.

JeotQ

member

Activity: 406

Merit: 14

There have been few Crypto thefts that landed criminals into jails but for ICO scams I'm not impressed at all, every little info I've gathered around ICO scams are team run away or part of the team are been apprehended but that will be the last thing you will hear

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: BitDane on January 14, 2020, 02:09:15 AM

There are some that were brought to the court but majority are still free and creating dozens of scam company everyday. The project were probably accused but the persons behind this project just evading it by moving to other countries that has no strict rule about cryptocurrency and ICOs.

Sad truth about those scammers, most of them are still free and still part of newly created projects though they are not revealing their identities but
they just jumped into another team and work with them as there's nothing happened before. Some might face the trial but most are still free and
still doing the same thing.

BitDane

sr. member

Activity: 1372

Merit: 348

There are some that were brought to the court but majority are still free and creating dozens of scam company everyday. The project were probably accused but the persons behind this project just evading it by moving to other countries that has no strict rule about cryptocurrency and ICOs.

NathanJB

sr. member

Activity: 756

Merit: 251

Quote from: Russlenat on January 14, 2020, 01:36:26 AM

The reason why the scams are increasing is because of the lack of regulation, and only few are paying the consequences of their bad actions so the scammers are still confident to do their thing knowing they can get away with it.

I don't agree that the reason why scams are increasing is because of the lack of regulations. Regulations are not needed when a project turning out a scam is being brought into justice. What is needed are people who are filing cases, good lawyers, a number of witnesses, and so on. Scamming money from people is already a crime everywhere in the world. Regulations are not needed for them to be properly prosecuted and sent to jail. The problem is that these scammers have no cases filed against them in court. They are roaming free.

suryana

sr. member

Activity: 1218

Merit: 254

Trphy.io

And also the Titanium project where their Dev has been arrested by the police for using fake Claims. So it is true that if the ICO project commits scam then they will be brought to court by the police. I strongly agree with this method so that there won't be many scams on the ICO project.

Topic: Do scam ICOs really taken to the court? - page 4. (Read 616 times)