Topic: Punishment for ICO for being scammed. - page 3. (Read 922 times)
So far I know there is no specific way of knowing an ICO scam or not. But you will have so many resources to know in detailed about an ICO. SO doing sufficient study regarding the project, you will be able to know the reliability of any ICO. And till now there is no ruling body established to punish the scam.
The good thing about crypto world is that it is extended all over the world and the bad thing is that it is extended all over the world. Now it can help make it a big industry but at the same time it needs a very heavy strong regulatory authority which in this current situation is not possible. But i believe once the whole world embraces cryptos, then it will get regulated and then scam ICO's will be punished.
It may not result that burdensome to recognise a fraud project, solely confirm the advisors using their social profiles reliably and establish if these look legitimate.
Until the market is legalized in the international market, it is unlikely that something will be changed in this regard. But in any case I am sure that the number of frauds in this direction will gradually decrease.
There's not much you can do about it. You can report them to local authorities ofcourse but pretty unlikely anything will happen.
If a person has a talent, then he will definitely use it, so there's nothing you can do and you can not always track a scam, and in this respect ICO will always be vulnerable!
I think this is more reasons why some regulations have to come in place. Although, not that cryptocurrency should be centralized, but that every ICO should pass through a regulated channel and be duly registered under a body. I think by this, investors will not be afraid of investing. Notwithstanding,there are still wats of identifying scam ICO.
Discipline is inconceivable in ICO on the grounds that in the event that you have appropriate to pick your own so before to contribute you should read the task subtle elements assume it will trick in future you are not get the correct stage. Since numerous people groups are expecting more benefit in Crypto stage so specifically put resources into ICOs are some other exchanging. In any case, each stage is anything but a straightforward in apprentices so we should buckle down in each stage we will procure benefit.
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?
Unfortunately the ICO is not regulated by anyone and the scammers use this opportunity to raise money. I think in a short time will begin to regulate the conduct of the ICO and not allow fraudsters to raise funds.
We are really helpless here. There is no filtering method to filter out the scammed ICO. We will have to find it out by ourselves. You just need to be careful while selecting a project, Go through their website properly and see the team working behind. This may help you to find out the scammed projects.
You just need to have experience on this, you are not going to discover scam icos unless that you see the way that it works and the way that they are scamming the people.
As an example, the fake profiles, the fake telegram joinees, and a lot of other things that are in there
As an example, the fake profiles, the fake telegram joinees, and a lot of other things that are in there
Cryptocurrency industry is changing day by day now we can see few scams, people's are aware now to choose the investment. Earlier it was too easy to scam the people's with many lies about unofficial partnership, fabricated testimonials, dissemination tactics. I think SEC is doing good but it falls under the US judiciary only. There shouldn't be any bodies formed to regulate and approve ICOs as this can lead to corruption and this industry will become more centralised. It is upto us to choose the project and take decision after researching only.
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 think that's what many countries are working on now. They're trying to find mechanisms of trying to get ICOs registered so that they can trace back to any one who scams people of their money. To me I think the punishment will be huge (jail probably), because you can't just scam people outta their money. 
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 don't think it is possible to have some bodies, who will be responsible for it. Unfortunately, everything has its pros and cons. So in crypto cons are great amount of scam. The only thing we can do is be more careful and do researches before investments and also help newbies not to do such mistakes. So as a result it can decrease scam projects.
I think the most appropriate punishment for ICO for being scammed is will coming from law the one who will take care of it,
because i believe they know what the best to do in this situation are.
because i believe they know what the best to do in this situation are.
I think so many people have gotten scammed over the years that eventually it will have to head towards some sort of regulation I really don't like the idea of the govnt getting involved, but if some sort of self regulation showed up that would be awesome maybe a project will be able to develop something of the sort that can actually punish (or better) completely prevent ICO scams there has been too much of that going on in this space it really puts a damper on the whole ICO market....
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?
In this field, law is nothing. Law is under by a government so when the government ban crypto there's no law. In crypto we have only rules and regulations and its up to you if you follow that or not so if you don't want to be scam just be careful to choose ico projects.
Well, the punishment for scammers should be. But for this, the ICO must be secured at the legislative level. Some countries try to punish scammers, but very often they avoid punishment. Now the forum undertook to punish the managers who are conducting fraudulent campaigns. Let's hope that in the near future there will be less scammers.
Unfortunately that's a side effect of decentralization that makes a scammer anonymous and unfindable. Plus there is one more negative thing that is there is no way to find out if an ICO is going to turn out to be a scam or not. That's why some regulation is necessary in the crypto markets.
At first there are no ICO project which accept real money for investing and all investors only can use cryptocurrencies to invest in all ICO project. As I know there are no country has any rule about cryptocurrency so I don't think there is anyway to punish scam ICO project 
. Maybe if you can find them out, you can give them a punch on their face then you'll be sued because of assaulting
. Maybe if you can find them out, you can give them a punch on their face then you'll be sued because of assaulting Jump to: