Topic: Punishment for ICO for being scammed. - page 5. (Read 922 times)
This would actually be really great but can't happen thanks to one of the best things about crypto which is anonymous transactions. Would be great if a way could be implemented where people behind ICOs only could be identified and have the rest of their crypto transactions remain anonymous
Unfortunately, now there are no laws on which developers of fraudulent ICO projects would be punished. That's why everyone says you should be very cautious about your investments.
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.
Know people running ico by checking their linkedin profile. Check their website if it's legit. These are just some of the points we need to check before investing. it's really hard to tell which one is a scam or not. The only way to ensure you will not get scammed is if checking feedback from people
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 agreed that those ICO's must have a punishment whenever they are proved of doing scam. The manager of that bounty campaign must have a retrust inorder for those bounty hunters to have an idea whether it is good or bad to join that campaign.
the ICOs that get to become scam ICOs are most times not having any valid details as to contact or communicate with them with or identify them. so, getting to sanction them is almost impossible as there is no face or licensed company name to bear the sanction
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?
As I know several countries are developing laws to cover ICO activity and also ICO risks with ICO founders responsibility. So punishment for ICO scammers will be real soon
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 the moment, ICO is not regulated by the legislation, but there are countries where the first steps have already been made for this. The point is to prevent companies from going to ICO if they don't have a sufficient budget and development plan. For the selection of projects, you should analyze the idea, the roadmap, evaluate the realism of plans, study the portfolio of the development team. But even this will not give guarantees that the project will reach the exchange.
As the whole system of cryptocurrency is decentralized and those who are making scam are anonymous,it is quite impossible to find out and punish those who are making scammed ICO.
There have been action taken on some ICO's that have cheated people, but only ico's which are considered to be security are penalized by SEC. These days to get over this problem, most projects do not even do a ICO, they opt for private sales.
I think Cryptocurrency is purely speculating, as there are some very valuable projects, but buddy try to read their whitepapers and ask them about github nowadays is a place where we can see the developers really have their current product, nmun If we are right want to join their project, Github and telegram is the answer for now.
From my perspective i think if anyone goes in a wrong direction he/she must be punished. That's why ICO punished for fraud. I support this because i always being with legality.
There are many con artists out there who are getting away by scamming people and the government is trying to come u ways to track them since they are all anonymous. All we can do is to keep our eyes and ears open and be cautious. Currently, there are no punishments for scammers because the users are all anonymous.
No, till now no such possible ways are found to detect the scammy ICOs right away. We have to be very observant, study all papers thoroughly before investing on any ICOs. No actions are till now taken against the scammy ICOs.
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?
first, its hard to filter and to know if an ico has an intention of scam.and there is really no law or any punishment for that. how are you supposed to get them punish if you are not able to know their public information.
Nothing punishment about scam and fake ico, we have really ready for faced what ico have we joined and invest. Before joining investment on ico project we have filter which one best and good ico to take for investing much money ? not rule and law for owner was scam an ico project because many country have allow for launch an ico project is making illegal transaction and legal protection for costumers have invest on ico project.
One day it will be SEC who will check all new ICOs but i know that already there are plenty projects waiting for licenses and SEC permition for start because a lot of bounty projects stopped doing promotion and selling of tokens
Unfortunately, people can easily deceive other people and go unpunished. At the moment this sphere is not regulated in any way
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?
As far as I know, there is no way to filter ICO or the agency responsible in this regard. in the world of cryptocurrency you are responsible for yourself if something bad happens I think, by the system of trust and so it is clear with whom you are dealing. If a person has a negative reputation (check the account) - then you do not need to participate in his companies))) Those who have too bad reputation, and so they are banned. Well, a new account with positive honesty on this forum is not so easy to get.
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