Punishment for ICO scams! - page 8. | Bitcointalksearch.org

shinchan123

full member

Activity: 504

Merit: 100

Quote from: Paha87 on July 18, 2018, 01:40:25 PM

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

Honestly, there's nothing we can do. However, I think if someone would really like to pursue there's a possibility that those who are behind scam ICOs can go to jail for scamming other people's money. This will cost a lot of money, time and effort, since you will need to file a case and also to find all the people who are behind it.

1993jochico

member

Activity: 364

Merit: 46

This year there are lots of ICO's proven that is a scam and some of the most trusted bounty manager get tagged because of them but I never saw or hear a news that those fraud ICO's have caught even 1 of them.

There are lots of victim's including those trusted bounty managers who also dont have any idea that its a scam, I think this will is a lesson for all of us We need to choose a right ICO to invest with also a lesson for those bounty manager to be more strict in choosing what project to promote, we cant blame anyone.

deep4u

sr. member

Activity: 630

Merit: 250

Actually there is way for it but its too much complicated and lengthy process, but before you can process this you need to know actual teams name and address to take legal action against them.

Merkle_Tree

newbie

Activity: 50

Merit: 0

Quote from: Paha87 on July 18, 2018, 01:40:25 PM

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

Penalty: estafa. But still depends on country and if they ever arrested.

luckybar

jr. member

Activity: 62

Merit: 3

Sadly a lot of these scams are in countries that don't have an regulations so its pretty easy for most scammers to get away without any sort of punishment.

Desscount

full member

Activity: 1386

Merit: 101

ComboLabs

Quote from: Paha87 on July 18, 2018, 01:40:25 PM

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

What kind of punishment do you mean? and how to punish those who run away and run away somewhere. the question is, scammers always use false data including their profiles. so do you think?

ponyongie

jr. member

Activity: 174

Merit: 1

Yes, ICO scams should be punished but I don't think there's a way or a law for that. Coz anyone can start an ICO as long as they can build proper marketing strategy and publicity. Let's just accept that investing in ICO should be done with a high risk. That's why we had this "invest what you can afford to lose" coz every ICO, even with a good ICO rating has a possibilies of turning into scam. 😉

aldrin6697

member

Activity: 322

Merit: 11

Its about time to put things in order and legally, there are a lot of scams out there. Someone must create a governing body to regulate the ICOs.

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: unusualfacts30 on August 10, 2018, 07:35:37 AM

Quote from: Paha87 on July 18, 2018, 01:40:25 PM

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

I think government is realizing the dangerous of ico for their citizens and they will be putting in ico regulation of some kind in the near future. until then you have to just wait and stay away if you feel it's too risky for you.

We are already seeing it now gradually where some countries do already make strict implementations or laws that do prohibits about these ICO scams or simply a protection to its citizens itself.
Punishment cant really be put up yet these scammers cant be easily caught out due to almost impossible tracing out transactions. This is why we do see this market being flooded of by those scam projects because they can still move freely.

silviyako

newbie

Activity: 81

Merit: 0

Everything is fake probably even their identities. So how could anyone punish them or even catch them? I don't there has been a case that a scam ico has been punished.

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: Capt00 on August 10, 2018, 08:04:55 AM

Quote from: unusualfacts30 on August 10, 2018, 07:35:37 AM

Quote from: Paha87 on July 18, 2018, 01:40:25 PM

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

I think government is realizing the dangerous of ico for their citizens and they will be putting in ico regulation of some kind in the near future. until then you have to just wait and stay away if you feel it's too risky for you.

That's the reason now most ICO project having a KYC, well, as of now scammers are not punishable because of being anonymous of the team. If you have noticed their team information not all are revealed to their whitepaper. So, it is our responsibility to choose and make it sure not scam project.

That's right, this is why to ask about the legal support of ico will be very helpful. I guess a lot of people are smart i have seen a lot of scam icos have revealed its identity caused there are some ico scam hunters were doing their job very well. I know there was another scam project called phantom.

ityandsyn

member

Activity: 490

Merit: 11

Quote from: Paha87 on July 18, 2018, 01:40:25 PM

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

I think it's very difficult to give sanctions and penalties to these people since we are all anonymous here in crypto industry and no government bodies controlling on us ,though the highest penalty that possible to be impose by the Bitcointalk forum is a total ban of the account of the manager or a lower penalty of negative trust .

Iwillgotothemoon

member

Activity: 171

Merit: 14

You can't punish scammers, unless you supervise the issuance of ICOs and let them pay a deposit, otherwise they can't be supervised. The cryptocurrency is anonymized and therefore cannot be regulated.

Nidhi Bhatia

copper member

Activity: 210

Merit: 0

Till now, there is no rules and regulations to punish ICO scammers. But really they need to punished because they fool around us. many people associated with scam bounty and all are suffer. According to me, there are some fixed amount punishment for all scammers like fine of heavy amount.

asdlolciterquit

hero member

Activity: 1666

Merit: 565

Quote from: jacksonmark30 on August 10, 2018, 06:16:21 AM

Yes, many countries have started to draft regulations on ICOs. Hopefully this will help lessen scams. In addition to that, a project called Menlo One is launching its ICO listing marketplace within the year also to help weed out scams and provide legit projects the funds they need. This is their site and whitepaper: https://www.menlo.one/

do you have any info about which country have started to draft regulations on ICOs?
do you think that we can have something before 2020?

rdny

full member

Activity: 322

Merit: 100

I think these projects are called scams because you were led to believe that they will be successful. But i think lies in the notion that whenever you invest, you will reap something in return. Investing has relative risks and rewards. Investing, even in a normal business does not guarantee you assured profits. The greater the risk, the greater the reward. You can only hope to recover your investment and earn a little profit, but you do not expect that everytime you invest, there will be a profit. There are times that you will encounter some losses.

odessit1377

newbie

Activity: 275

Merit: 0

Click on today's not worked out the legal side of this moment. No one took responsibility for this type of crime, because at the state level, there was no responsibility for such a crime.

Abeycity9917

newbie

Activity: 147

Merit: 0

There is no penalty for now. But there should be to promote the coin for it to have value

Capt00

full member

Activity: 938

Merit: 105

Quote from: unusualfacts30 on August 10, 2018, 07:35:37 AM

Quote from: Paha87 on July 18, 2018, 01:40:25 PM

Hi, everybody. Faced with a lot of fraudulent projects that collected money and quietly left. What sanctions and penalties are applied to them? If you know something, tell us, many will be very interesting to hear)

I think government is realizing the dangerous of ico for their citizens and they will be putting in ico regulation of some kind in the near future. until then you have to just wait and stay away if you feel it's too risky for you.

That's the reason now most ICO project having a KYC, well, as of now scammers are not punishable because of being anonymous of the team. If you have noticed their team information not all are revealed to their whitepaper. So, it is our responsibility to choose and make it sure not scam project.

susila_bai

hero member

Activity: 1260

Merit: 524

This is what almost all big country are started to regulate the laws against the ICO scams, That is what all government are fearing of the fraud and scam of all ICO are doing it. This is the reason why almost most of the country have made illegal to use crypto currency and they have given clear guidance of after regulating it they will start the crypto currency process.

Topic: Punishment for ICO scams! - page 8. (Read 1969 times)