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Topic: legal action against scamming ponzis - page 2. (Read 2580 times)

member
Activity: 109
Merit: 10
August 28, 2015, 06:25:13 AM
#6
If many people have invested small amounts of bitcoins into a company that was not what the investor was expecting. Could these people get together and take legal action against the company if they could fund the legal fees through amounts smaller than their investments.

Nope, because most of those ponzis would be run by an anonymous person. There also have been lots of other scams in the bitcoin world , but its not easy to take legal action unless you know the real identity of the person running it.
You may be able to track the ip and remove posessions (including the servers!)
The owner of the domain name can be traced!

Altough it's not that simple, you CAN buy TLD's anonymously (well... I know a couple company's that require your name and address, but never verify said information PLUS they accept bitcoin as a payment method)...
With hosting: the same deal... There are a couple VPS resellers that don't rely verify your entered identity, and accept bitcoin as payment...

Don't get me wrong: i hate scammers and chances are pretty good they fucked up at least once (it's enough to forget turning on your VPN when logging in on a server to get your real IP in a log somewhere)... So it's basically a good idear to check their domain registrar and hosting provider for a real IP, but a smart scammer would probably cover his tracks, no Huh
copper member
Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
August 28, 2015, 05:51:19 AM
#5
If many people have invested small amounts of bitcoins into a company that was not what the investor was expecting. Could these people get together and take legal action against the company if they could fund the legal fees through amounts smaller than their investments.

Nope, because most of those ponzis would be run by an anonymous person. There also have been lots of other scams in the bitcoin world , but its not easy to take legal action unless you know the real identity of the person running it.
You may be able to track the ip and remove posessions (including the servers!)
The owner of the domain name can be traced!
sr. member
Activity: 336
Merit: 251
August 28, 2015, 02:42:30 AM
#4
If you know the person then yes you can take legal action.

Guess the deciding factor will be the amounts involved. Taking legal action like this will not be cheap and it will most probably cost you a couple of thousand before you even get started. Firstly you will have to get hold of everybody who invested there in order to get a group together for a class action type of case. That alone will already set you back quite a bit.

You will then need to get a lawyer that knows and understand bitcoin and the ecosystem it operates in and he/she will most probably require a substantial upfront payment from you and or the group of people.

So it all depends on what you are willing to spend. You can sue somebody for a dollar if you want to and if you are willing to pay the cost.
legendary
Activity: 2058
Merit: 1015
August 27, 2015, 11:17:58 PM
#3
Why not if you know their identity.
hero member
Activity: 574
Merit: 500
August 27, 2015, 04:04:26 PM
#2
If many people have invested small amounts of bitcoins into a company that was not what the investor was expecting. Could these people get together and take legal action against the company if they could fund the legal fees through amounts smaller than their investments.

Nope, because most of those ponzis would be run by an anonymous person. There also have been lots of other scams in the bitcoin world , but its not easy to take legal action unless you know the real identity of the person running it.
copper member
Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
August 27, 2015, 09:32:27 AM
#1
If many people have invested small amounts of bitcoins into a company that was not what the investor was expecting. Could these people get together and take legal action against the company if they could fund the legal fees through amounts smaller than their investments.
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