Do scam ICOs really taken to the court? - page 5.

Bttzed03

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Quote from: Teraboy on January 13, 2020, 07:56:28 PM

Plex coin, diamond ico, bitconnect, ReCoin and many more.

Adding Confido to the list.

Here are some links for references

Quote from: Maslate on January 13, 2020, 06:41:36 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.

What I read mostly is the other way around. These busted ICO scams are the ones threatening the scam busters with lawsuits Grin

Russlenat

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There are scam ICOs that are prosecuted but that's only few of them compared to the total number of ICOs in the market.
Based on what I read way back, there's an article that says 90% of the ICO are scams, so if those will be taken to the court, we won't surely see it growing.

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.

bassbity

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Quote from: aioc on January 14, 2020, 12:26:58 AM

Quote from: Maslate on January 13, 2020, 06:41:36 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.

nicolas1979

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We know about scam ICO but I'm sure no one can taken into court because regulation problems. ICO, STO, IEO is free event and there's no guarantee about profit and safety, that's our responsibility. Government still built protection system under cyber crime section that can be hope to solve scam problem. We can make report into law enforcement but they can't do nothing. Let's hope 2020 every government will release more powerful regulation for scam issue, if happen I believe it will bring positive impact into crypto progress in safety side.

aioc

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Quote from: Maslate on January 13, 2020, 06:41:36 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.

btc_angela

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Quote from: o48o on January 13, 2020, 08:05:50 PM

Quote from: Maslate on January 13, 2020, 06:41:36 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.

Not all of them obviously, the high profile cases when there's lot's of money involved. Envion mining comes in mind for starters. They really should make some hard example cases to scare the people who could try those again.

Yes, maybe those high profile cases, but majority of scam projects are not taken to the court because we all know that the people behind the project just hides in some country with the money or worst just re invent themselves to try and scam more money out of unsuspecting victims here. I'm not sure about Onecoin though, I haven't seen any latest update about that scam project.

NathanJB

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Quote from: Maslate on January 13, 2020, 06:41:36 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 heard about Centra also. Have you heard about Titanium? I guess the developers of that scam project were also taken to court and even jailed. I am not sure though. But I've read about that in the news more than a year ago. But the sad truth is that most of these scammers are still around and probably involved in other scam projects again.

Dpat

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The real matter is who will take the responsibility of authority to take the scammer to the court. As, you know these concepts are decentralised and anonymous. The investor who are making investment in the ICO they are the only responsible of their investment so nobody take the legal action. But, some countries are restricted these kind of investment passed the law regarding the cryptocurrency to regulate these. So, only those countries may take the responsibility to take the court.

Beparanf

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Quote from: crisanto01 on January 13, 2020, 11:28:36 PM

Since ICO was just new and crypto don't much regulated in our government that's why it is so hard for now to sue scammers as they can just run away and it is hard to prove sometimes how they took our money. And not all investors are taking legal action, some just don't mind and just move on, that's why scammers are confident that they can just easily run away.

If there will be number of victim who will take a stand to sue them, to report and to explain how they got scam,this companies have tendency to be in jail. However it will really depend on what country they are located same with where country the people they get scammed as each countries have different say regarding crypto investment.

CjMapope

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Quote from: Maslate on January 13, 2020, 06:41:36 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.

they DO end up in court, but the RESULTS are usually more then underwhelming Sad

by the time the justice system does its shit, the coins have been stashed, nothing is in FIAT. Theres nothing to recover, and the criminals just wait for the heat to leave
Sadly, the court system is not setup for cryptocurrencies, and even if scammers are caught, they are NEVER really punished harshly
BUT: if you run a blackmarket website it seems you will get life w/o parole....

crisanto01

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Since ICO was just new and crypto don't much regulated in our government that's why it is so hard for now to sue scammers as they can just run away and it is hard to prove sometimes how they took our money. And not all investors are taking legal action, some just don't mind and just move on, that's why scammers are confident that they can just easily run away.

Adriano2010

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Yes it happen because some of them are real registered and can be checked the identity of the team behind that ICOs and is good that finally this happen and they will bu judged, i hope investors will recover money from these scams. I also heard the news last week about on ICO dev that has been arrested.

$crypto$

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Indeed, there has been a lot of ICO blowing on this forum, in fact it often happens that it takes victims to easily run away with investors' money.
I have heard the news that there have been several reports of ICO fraud, but until now I have not found a report about a scamer who has been tried or has been in prison even I have not seen the article, is that just nonsense?
Well, the Centra project also, I think, is not clear whether the CEO is on trial or not.

Mia44

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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.

iamaruf

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Quote from: Maslate on January 13, 2020, 06:41:36 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.

Few members already mentioned names but I also Add Centra teach. This coin also scammed their investors.Later the was punished by their government.Also want to add bitgrail,though thia is not coin/token.It's Exchanger.But as far I know after hacking,In Italy the case was running.that's why I can say that Scam Icos really taken to the court.

TastyChillySauce00

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Quote from: Sithara007 on January 13, 2020, 09:02:18 PM

If that option was as easy as you are saying, then we would have already done that, right? I am someone who got scammed in the ICO sector. There are millions more like me. But I had no option other than forgetting about my losses and moving on, as taking legal action against these criminals is not very easy. I have closely followed the legal action initiated against similar scammers during 2013-14 period. In none of the cases, an outcome has been achieved. Even the victims of Mt Gox hack of 2014 are still waiting for their compensation.

Bitter truth, only a few out of thousands scams involving ICO, exchanges and many more out there could be taken to court and that also involves tremendous effort to gather the evidences as well as tracing the scammers which usually flee overseas with the money. Mt Gox I assume is among the massive scam that is attracting the authorities' attention meanwhile there are so many scams out there unrevealed and yeah, there's nothing we can do about it. Taking it to court might not necessarily guarantees reimbursement but instead might just further add to our losses or in other word, not worth it.

AbuBhakar

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Quote from: ecnalubma on January 13, 2020, 08:29:52 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.

Some were to good to execute telling they got bankrupt and they can't no longer operate. It will depend on how strict their government in operating crypto projects. If their not very particular in it especially if not many reported them, they don't give it a damn care as they think it is our decision to invest in them that's the risk of investing we do.

Sithara007

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If that option was as easy as you are saying, then we would have already done that, right? I am someone who got scammed in the ICO sector. There are millions more like me. But I had no option other than forgetting about my losses and moving on, as taking legal action against these criminals is not very easy. I have closely followed the legal action initiated against similar scammers during 2013-14 period. In none of the cases, an outcome has been achieved. Even the victims of Mt Gox hack of 2014 are still waiting for their compensation.

Aabcde

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Yes, usually ico that uses the original profile will be processed. Sometimes it is reportedly not reaching us. But I'm sure someone will report it.
When I searched on Google there were indeed many cases of ico scam imprisoned but there was no mention of the project. Just mention the name of the person, maybe it's the CEO.

ecnalubma

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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.

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