Topic: Looking for a service making claims against ico (Read 444 times)

As long as the same people are behind most of those projects then it does not matter how they choose to name the process from which they gather funds we are going to get the same results, scammers will always find a way to get to your money, so I decided some time ago that I will avoid investing in new projects since it is not worth my time, for every good project out there you can tell there are hundreds of projects that are unworthy of your investment and even the project that seems any good does not guarantee you will get profits.

So I have decided to only invest in bitcoin and a few selected coins that have been in the market for a long time and that I know are not going to disappear or being abandoned by their developers.

Sorry,  that's probably a waste of your time. I've seen all they can do, and to be sincere they are not offering any help at all unless you know those that are behind the ico project, which I'm sure you don't because scammers don't show their identity, they always hide it from people, you can only find it out if you do proper research and dig out every information about them and know if they are really what they claim to be. The only thing I can say is that this is an experience, and I do hope that you didn't lose much. Starting from now you will just have to be very careful with everything you do so that you don't fall victim again.

Yes, they are good at finding/hunting scammy ICO but I don't think they provided legal means to go after them outside of this community. Again, we are in a decentralise system, so it's going to be difficult to find those people behind unless they really scam a lot of people and some authorities started to chase them around like Bitconnect.

I'm aint familiar with these kind of services yet its impossible for these scam projects to be traced when they do tend to scam out ICO funds.
If that fraudico.io does the job then its great but now ICO is slowly dying and IEO is the new hype as of this moment when it comes to project funding.

I have not met such a service unfortunately, I also took part in many ICO and did not answer any greetings.The only thing if the project is in the public domain headquarters or team, you can apply through a lawyer if a lot of money invested.

To sue an ICO, you must talk to a lawyer in the jurisdiction of the founders, and see about the viability. Laws differ in all jurisdiction on the subject matter and may just be a waste of time.  Any reputable lawyer will give you at least a 30 minute talk for free - I would have - to just give you an assessment of the viability of the action you seek.

If it's in US, then, I dare to say that it's viable, but it has to do with how the ICO document was written, risk factors, your due diligence and so on. So before you go to a lawyer, gather up all the documents, and arrange them so it will be easy to understand for a legal professional.

Now, here comes my general advice: never invest in an ICO that have no product up. Anyone that want to launch an ICO - also take heed: first you seek angel capital, don't raise from the public. First create a viable alpha or at least beta product, and preferably get in a number of users BEFORE you raise money from the public.   The inverse is true: if you don't know the guys behind the ICO, then don't invest until there is a viable product and you can verify that the guys can actually do the job at hand. If you raise funds, remember: that you expose yourself to risk. Same if you invest into something.
Best way to reduce risk, is to stage the products in multiple roll-outs, and the raise can increase; as an investor, the smaller the raise is the overall risk reduces as an exit scam is less likely.

As for myself, im a software engineer, served as CTO, software architect, lead programmer and so forth for about 30 years. I also have a degree in law, which i don't really use, other than for private or corporate litigation, so I never take on external clients for legal work. So I'm giving this advice in a general manner for both parties.

I am not sure whether that kind sites are available or not but the people around this forum alone can help you in this and can pick out the good ICO for you to invest and to participate and campaigner.

Please go through the topics in this below and you can understand about scam projects around us.
https://bitcointalk.org/index.php?board=83.0

Regulations for the most part are going to be useless, icos make it seem as if they are willing to comply when they force their investors and bounty hunters to go through KYC because that is something that benefits them since they can deny payments to those that do not pass that or they can obtain that information and then they can sell it for a profit, but when regulations that really affects them are passed they are going to ignore it.

And it is not difficult to see how this can happen, a person can create an ico project from the comfort of his own home without having to go through any kind of official channel and as long as that is the case then regulations are not going to be effective against icos.

It's actually useless just to kick away scammers from the forum IF they have already conducted a token sale and run away with everyone money. Most of scammers today are not jut running with money (only stupid scammers use an old way to scam), but stay with their community and start to not delivering their promises to their investors.

vryat you find a similar service. More than half of the ICO did not fulfill their promises to investors, but you cannot prove anything. that is why the ico model was not viable.

I repeat for a long time that until there is a state regulation of ICO, people will continue to lose money. Some people learn,but newcomers constantly come to the market, especially if the rapid growth of bitcoin and other cryptocurrencies follows.

Meeehn ico scams are very big problem in this community that there hasn’t been a solution to. This problem is what keeps on driving newcomers away from the crypto community, because they are afraid that they maybe scammed of their hard-earned money through this. There is nothing you can do now that you have been scammed already.

You just have to be careful next time when choosing an ico. This is one of the reasons why a few have suggested that the government should look into cryptocurrency and start to regulate ,but there have been a heavy opposition on this because of how the community is, they don’t want regulation.

Its just really a complete waste of time and effort yet tracking these scammers wont really be that easy nor impossible at all due to cryptocurrency anonymity and that's why
they do love to lurk due to that matter.Scamming investors without having too much to worry with their identity and its just useless for you to fight back yet that would still consume out
some funds too and might be time consuming investigation.

I guess this is just a waste of time. I don't think there is anything you can do about this, you have been scammed is that you have been scammed, unless there is a way for you to identify those that are behind the scam ICO project, and you can then go for them. But I'm sure that they do hide their identity and there is no way you can tell who they are, most of the times they make use of fake ID. Just take it that you have learned a lesson and not allow the same thing to repeat itself, try to be careful and wise next time you want to invest in an ICO.

Hire suchmoon, icoethics or Marlbarozo. They are alone enough to pick the scammers away from the forum. They can do it all alone without any product you are looking.
These people also having such sites to handle the scammers away from investment, usage, community and etc.  You may find more information about the service you are looking at scam accusation.

Have seen a lot of ICOs that had bounties started at the altcoin section and many ICOs just scammed people of their money but haven't seen any such service you are talking about in this forum. There is a section about scams and accusations thought in this forum but I don't think that would be of any help regarding to your topic. And also adding I have seen people protesting against these scam ICOs and have seen some people lodge compalints against the ICOs, I guess this the only way.

Non service makes claim against ICO, what you ask is like looking for service which makes claim against Cloud Minings, there were petitions filled on change.org by a lot of people against hashocean but seems they took coins and that's all. If anyone claims that he/she can help you in this situation, remember that they are trying to scam you, don't trust such people. The only facts I remember when people recovered from ICO scams, were ICOs under escrow of our forum members.

Nothing like bringing ICO to law will be possible. Except you have come across it before, maybe you could direct op then. Icos are not regulated, this is why adjudication will be nearly impossible if not outrightly impossible.

Therefore, I also suggest op should lock this thread. He has gotten the guide he needed I think so.

What kind of service is this,they will find the scammers and get your money back?

I don't think there is suck kind of service available now to get help with losses,all you can do is find where the projects is originated from and complaint against the people who are in the project team.

I'm seriously interested in seeing how this goes. Just like the mentions above,  the Scam accusation thread have it all. But you can also create a thread and ask those who might have scammed before to provide their proves and links of their claims on that thread.
But in the main time,  do keep us updated on how it go. Won't be an easy battle though. Good luck!

Hope you got the better answers from the forum people buddy. If you are fine with the answers you can lock the thread to stop the further unwanted spams or repeated answers. Hope you take my suggestion too

Good luck with that but I have to say it's almost mission impossible. Lack of regulation and any legal framework at all, problem of juridiction in cyberspace all that makes situation very complicated and hard to solve. Scamers know that and use their advantage. You can try to collect some information and start the process but the chances to recover your money are very small or none.

thank you guys very much!

The most hassle part that's why most people or investors just moved on since they do know that they cant do anything about it and yes each country do have its own jurisdiction towards
ICO's so it means guarantee of being supported isn't still sure and come to think of that each actions and effort made would really need some cash to support.If you can sustain for long process then
its our choice but just to think on how things goes It would be much wiser to move on rather than pushing yourself to make efforts to fight for.

I understand your frustration.

You can honestly take the project involved by law means "IF" they are a registered company on their established countries. But take note that of course that will be a hassle one and you don't know how long will you deal on it. Gather all your scammates in a group (e.g Telegram) and worked together to search for the company profile. Then from that, the hassle way will now begin which is finding a way to seek legal assistance on that county. Take note also that crypto related laws are differ per country so there will be a chance that the output of your effort might not work. And so on..

Im saying that it will really takes time but in the end no good progress at all. I suggest to move on and charge that into your experienced. That's how risky putting money on ICO so I hope you learn from that.

I'm sorry as far as I know there hasn't been any services in the crypto sphere that you describe. And unless government agencies step up and caught the scammers then there's no way  that we can go with the fraudster.

That's why we also preached here to do your own research and always remember that there are big risk involved and once you gave your money to ICO which turn out to be a scam project then most likely your funds cannot be reimbursement or return back.

Prevention is better than cure. This technology is not legally approved in many countries, making tracking scam cases take a lot of time.
It is better to do an in-depth search before making any investment either for an alternative to that site try the following:

Scam Detection Sites: There are many sites where you can report scammers but unfortunately the possibility of tracking is difficult. etherscamdb, Scam Accusations.
contact: https://www.sec.gov/ICO or Report spam texts and nuisance sales calls
Bitcointalk Investigations: your rank must be Jrmember.
The bright side: Bitfinex Recovers Stolen BTC with US Government’s Help and Reimburses Clients

I am not sure about that but here on forum there are some DT members helps the forum to be clean. They usually check the ICO announcements on this forum and verify it. If they really have good team and all things are legit only they can stay in this forum without a red tag. Else those DT will take against them and warn all the forum people to stay from such scammers.
You can check Scam Accusation section to understand how they are finding the scammers and who are all that. Mostly you can these DT members there, they are the making the forum clean and safe in my view. Suchmoon, Marlborozo, Coolcryptowaver and ICOethics. You may find more people by checking it.

it is clear that it is very difficult to make a claim against them.thank you for your sites. but still there is cases about class action.
https://www.forbes.com/sites/michaeldelcastillo/2018/07/25/ico-class-action-lawsuits-are-set-to-double-represent-just-a-tiny-fraction-of-historic-rates/

i am just interested if there is any agencies that specialized on the class action about ico like fraudico.io

It's really a very hard thing to do mate. this is because ICOs are unregulated in most countries so they can easily get away from the hands of the law.
What I have seen thou are websites that have exposed and published scammers.

The whole process of bringing scammers to the law would involved local police in a given area which is even harder if investors from different parts of the world have been scammed.

Here is a couple of them that i know:
- https://icoethics.com
- https://shitcoinoffering.com

yes, i want to bring icos to the law( if it possible of course). some thing like class action

Maybe you could go read threads in this child board, scam accusation.
Or maybe you need to raise your question there. There you could find the answers either just reading through.
https://bitcointalk.org/index.php?board=83.0

Like is there a compensation for them or something?
Or you invested in ICO and got scammed?
You want to bring the icos to law? What do you want really to help your search.

You mean like a service that can help track down the scammers and bring them to the law books.
Sorry I didn't understand what exactly you want.

Hi. Looking for a service like fraudico.io . Some services that gathering people who invested in the scam projects and lost their money.