Topic: Punishment for ICO for being scammed. (Read 922 times)
Nowadays it is very difficult to stop them, because the blockchain technology has lost a lot of privacy and so the anonymous based on it performs its behavior in an unstructured manner.
Cryptographic money industry is changing step by step now we can see few tricks, individuals' know presently to pick the venture. Prior it was too simple to trick the general population's with numerous lies about informal organization, created tributes, scattering strategies. I think SEC is doing great however it falls under the US legal as it were. There shouldn't be any bodies framed to control and favor ICOs as this can prompt defilement and this industry will turn out to be more brought together. It is upto us to pick the undertaking and take choice in the wake of inquiring about as it were.
Is there any posible way to filter who are going to make an ICO to be able to know if there are scam or not? And is there any bodies of law that would be able to punish them once they turn into scam. And what punishment should be given upon committing such the crime?
There is no law created to punish these people for commiting this scams because their identities are often fake. The only thing we can do about it is we should be more careful, be vigilant and we check thoroughly the ICO's legitimacy first before being part of it.
It is hard to get in and find out who exactly is behind the project. They vanished, they gave fake names. They took the money and disappear. Those people will be hardly light to catch. They usually pay attention to details and so they wouldn't be possible to catch. It isn't fair, I know, but there is little we can do about it because there isn't any law about that.
Is there any posible way to filter who are going to make an ICO to be able to know if there are scam or not? And is there any bodies of law that would be able to punish them once they turn into scam. And what punishment should be given upon committing such the crime?
At present, there is no effective supervision of ICO in the market, so there are many ICO frauds, so we must be careful when reinvesting.
I believe that ICO needs a special supervision department, so as to effectively control and supervise the legitimacy and completeness of ICO, so as to attract more investors.
Thats right. No proper regulation right now and anyone can do an ICO even anonymously and raised funds and run with money /btc being scot free. This is being pointed out by several people already and government are doing thier best to formulate rules and accountability about this matter.
Have you heard about DAICO platforms, they work similar like Escrow where the funds are in a secure, 3rd party place and can only accessed if the project delivers? Do you think these would be able to tackle the issues around ICOs you described?
I think Cryptocurrency is absolutely guessing, as there are some extremely important activities, however amigo attempt to peruse their whitepapers and get some information about github these days is where we can see the designers truly have their present item, nmun If we are correct need to join their undertaking, Github and message is the response for the time being.
the cryptocurrency is not denoted close to the hale macrocosm as a agency of pays and accumulation. The control of at breach states are in no rush to penalise the criminals
Is there any posible way to filter who are going to make an ICO to be able to know if there are scam or not? And is there any bodies of law that would be able to punish them once they turn into scam. And what punishment should be given upon committing such the crime?
That is where crypto or let me say ICOs miss it. There is no body or law guilding ICOs, that is why many ICOs are coming on board with the intention of scamming their investors. I wish there would be a regulation to guide the mischief of these ICOs.
It is hard to predict whether ico is a scam or not. It can be well-developed scam. The only obvious feature is that scammers are afraid of publicity, so they will try to avoid meet ups, passing KYC etc.
Also some scams can be found by analysis of transactions
Also some scams can be found by analysis of transactions
This is not feasible, but let's prevent and block the intentions of developers. Currently, I find ICO projects on the NEO platform quite close, most of these ICOs are serious and practical in real life. As a result, many investors believe in joining the ICO projects on the NEO platform
To make sure, in fact, that the ICO team will fall under the influence of the law, will inspect the location of team members. In case you can not find, in fact it's a scarlet flag, and you have to stick to the ICO away. It's still quite easy to forge all the details of ICO, and there is no guaranteed way to recognize whether ICO will turn out to be a scam.
It's difficult to know whether there is a law or not for them, for instance like MMM, they say set out to contribute dauntlessly additionally go for broke, and it truly is a fake, yet at the same time can make MMM second to any settled running lastly trick. For ico alone perhaps we can see their CEO, on the off chance that he has submitted misrepresentation, don't set out to put resources into their new ICO.
There is no administering in that field. ICO is continually flying up without anybody having the capacity to control even from various nations. regions of law taking care of it likewise don't know without a doubt in light of the fact that the ICO itself laden with vulnerability and they didn't try to deal with that kind of thing.
the emergence of the ICO cannot be stopped. even though it was a scam but also difficult to predict. ICO scam can only be reported and given notice of such action and for that, the ICO will not be known and will not be able to be punished.
According to my personal opinion, there should be an authority or some code of ethics in the crypto industry also. Its true that this is a decentralized platform but still there could be a 3rd party body which can be used for ICO regulations. Like if an ICO is verified through that party, the trustworthy is guaranteed kind of procedure. Anyway Keeping that body independent is a very tough task
Right now I don't think there is any punishment for scam ICO since it decentralized and also most of the ICO are not regulated... The major reasons why there won't be punishment for them is that it not been control by the government.
In my opinion, governments should recognize cryptocurrency, and then they should consider ICOs as startups and make ICO rules, otherwise investors will be more at risk than making money from ICOs.
There is no punishment for ICOs that end up being scam as far as I know, what I see here is that we need to try to prevent this, then on this platform we have people calling projects out once there is a suspicion of foul play somewhere, but that has reduced significantly recently. For me prevention is better than cure
The Crypto currency is decentralized and is not controlled or regulated. It is extremely difficult to attract fraudsters to accountability. I believe that those who conduct the ICO need to go through special verification with further criminal responsibility.
Crypto is decentralised and government have not really gotten hold of it that's why they always warn their citizen. Currently, most countries don't regulation yet except out right ban. Thats why ICO that are reviewed by ICO review sites tends to be more legit because the team are already well know, they wouldn't want to scam
Is there any posible way to filter who are going to make an ICO to be able to know if there are scam or not? And is there any bodies of law that would be able to punish them once they turn into scam. And what punishment should be given upon committing such the crime?
I am also agree that some ICO who were turned to be scammed will be punished by the law and also its a good option that there is a punishment for it so people will easily be aware where to invest and its a good move for those legit ICO's because they get less competitors as well .
Yeah it's good to have that as an extra protections for investors the problem is crypto is not centralized that's why its really easy for scammers to
play with investors, they can quickly put up scam ico's allowing people to believe but it turned to scamming investors money without a trace, hope
there's a way tracking them and give them appropriate punishment.
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