Punishment for ICO for being scammed. - page 9.

haroldtee

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Quote from: hakertajniak on June 20, 2018, 05:40:10 AM

Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

Yeah, there should be a kind of punishment for project who scammed many investors to prevent it more.
I think you can know the ICO is scam or not by their community management. Therefore, you must join their channel or social media to find out.

Probably regulation is going to end up playing that part but for now, it is a dead end for any scam project to receive any form of punishment since it is an unregulated space. Nevertheless, we have heard of the like of Centra owners being charged for fraud after months of listing on exchanges and even Binance, while later finding out they ended up deceiving investors by claiming what was not available. Well, I believe that is a start! For now however, due diligence is the way to go.

Sky_Flower

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While there is no regulatory entities that would be involved in fraudulent ICO. We have to wait for the crypto market to become completely legal.

robelneo

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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 we do not have right now, and of course, we could have one that will and can monitor this scam Ico, because they are vain in our industry and they should be stopped once and for all. but since this is decentralized and anonymous and everything here are unregulated we just do our own research and share your research.

taiwww

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

You do realise that we are taking about the crypto projects which are based on the blockchain and the only thing here on the earth thats unregulated and still working with full scale. I think its impossible to track down such people with scam intentions. Because if they are willing to scam the project then they fake everything since the first day, whether it is ID proof, contract addresses, smart contract, ICO roadmaps, white paper and almost every thing thats need in it. I dont think we can even track them to punish them.

JaoBadjap

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

Filtering ICO's are not yet possible at this moment. We could never know at first. however the thing is we could investigate ICO that we are interested at, we could do some research and really check them out. but it wont really assures if its legitimate or just a scheme.
Well it depends on the country of origin of the Scam. On the law that can be applied. And the governments that wanted to get involved on pursuing scam ICO.
And in my country scam, are only life time imprisonment. we dont have death penalty at the moment though.

vova.andreyan.94

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The way to punish scammers ICO yet is not and most likely will not be, otherwise just 70% of projects will immediately disappear!

PeterCarlos

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

this is a bad situation, Fruad is higly prohibited. don't know of a better punishment than to arrest every individual invovled in running the scam project and refund back funds to thier investors. but this may never be possible, crypto is Decentralized. its Tricky..

Btcepenbob

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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 this is the biggest issue right now. There is no authority that could hold up justice inorder to penalize those who are stableshing fake or scam ICO.

mazdafunsun

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

This is something that starts to become more actual right now because SEC ir getting more and more interested in ICOs and going after those who have mislead and maybe made nad ICo with purpose to scam. As far as investors it will be a long time till they know if they will recive thier funds back. Examples of SEC going after ICOs are CENTRA , TBAR, ShipChain, I do not mind that thet are going after the rotten apples, but if they atrt to abuse every ICO, it will be shakeup of ICO world indeed.

kenmobility

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

hmmmm...this was something i wished was possible after been scammed when i newly entered into crypto space, i had wished they were a body or bodies that scrutinizes things and vets every new project that proposes to embark on ICO with the view to protecting potential investors from scammers that claim to have projects to deliver and later run away with people's funds.

goku1525

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Quote from: kingvirtus09 on June 20, 2018, 07:07:16 AM

Cryptocurrency is purely speculated, few projects are really worth it! but buddy try to read their whitepaper and ask them about github this is the place to be where you can see developers are really have thier product. In case you really want to join their project. Github and telegram is the answer.

This is good requirement or regulation in this technology in order to not commit scams like in bounty and ICO projects. I think if this may happen they will afraid to launched a project because of punishment to occured.

kingvirtus09

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Cryptocurrency is purely speculated, few projects are really worth it! but buddy try to read their whitepaper and ask them about github this is the place to be where you can see developers are really have thier product. In case you really want to join their project. Github and telegram is the answer.

mongkie

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

since the whole cryptoworld is unregulated because it is decentralize, it is impossible to apprehend a scam ico but each country can ban icos but not regulation is fitted now to punish icos risk on your own.

hakertajniak

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YOUC | John McAfee Supports

Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

Yeah, there should be a kind of punishment for project who scammed many investors to prevent it more.
I think you can know the ICO is scam or not by their community management. Therefore, you must join their channel or social media to find out.

warwar

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Quote from: kriticko29 on June 19, 2018, 06:35:59 PM

Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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 an IP address ban should be applied to those scammers to prevent them on scamming others. And also they should be noted as a fraud team member of a scam ICO so that others will be aware of their fault and wrong doings.

Ip ban is just like light punishment, sort of cheating on a game and gives you an.ip ban. Mostly it should be in physical, like saying breaking a law regarding about scamming people, though now I havent heard any scam ico that has been solved by law enforcement who trying to accuse them to imprisonment. Now I think there is no punishments, you just need to evade those teams that you know that scam you

ofounz98712

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I think the cryptocurrency market is not perfect now. There will certainly be such an intermediary guarantee company in the future. But it also means that the coin you are investing is not a scattered coin, or you have to pay to follow the trading rules such as the tax.

kriticko29

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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 an IP address ban should be applied to those scammers to prevent them on scamming others. And also they should be noted as a fraud team member of a scam ICO so that others will be aware of their fault and wrong doings.

emmaong12

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It's fraud, years in prison if caught.

thesmallgod

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Quote from: totoy4741 on June 18, 2018, 03:40:04 AM

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?

depending on the country of the origin. of course there are bodies that prosecute people for scam and I believe it is in every country but tacing online scam using law available in the country where the ICO is located is another problem. cyber crime is one of the most difficult crime to trace especially when cryptocurrency promote anonymity. while few ICO may tell you where their company is being registered, many of them will not even want investors to know their address so you may not try to check if truely they are registered.

omfg.xekcep

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As far as I know there is no any organization, committee or laws which might able punish participants of crypto market. It is a wrong situation because there are many occurrences of fraud. I think that we must discuss this theme to attract an attention of the founders and major participants of the crypto industry to solve this problem.

Topic: Punishment for ICO for being scammed. - page 9. (Read 922 times)