Punishment for ICO scams! - page 9. | Bitcointalksearch.org

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

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)

They should get what a criminals gets, jail time and give the money back from its investors. We saw Bernie M. did and he was sentence 150 years for his act. Government's shouldn't be lenient and the full hands of the law should be served.

milani

sr. member

Activity: 1092

Merit: 254

It is better to prevent than punish. How can we punish someone in case it is really hard to find these people sometimes, using their fake datum? It would be better to make some control group on this forum that will professionally check the project before the ICO start. And of course try to be more attentive and careful before investing somewhere.

unusualfacts30

hero member

Activity: 1540

Merit: 500

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.

Bezobraznike

sr. member

Activity: 1274

Merit: 261

★Bitvest.io★ Play Plinko or Invest!

Quote from: bituperio on August 10, 2018, 07:14:40 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)

It is no different from any other criminal activity. If the get the money and run, it is a fraud and will be prosecuted. If it is just a bad team and poor business... there are no laws against that I am afraid.

   Before making accusations people should stop and think. Not every failed
ICO is a scam, some of them just didn't have knowledge for realization of their
idea.
   I don't blame them, they had idea but they didn't have enough power to make
it real. Before anyone make any investment should check ICO first. Don't call it
a scam if you didn't earn money in two days
   People doesn't know what is ICO and what is scam, people should learn a lot
before investing money.

Jammypoe

newbie

Activity: 272

Merit: 0

Set any net to catch them, they will glide through it. The system is wired in such a way they the best way to be free from such sad takes is to conduct a background check on any potential ICO one intends to join.

cityhall

jr. member

Activity: 126

Merit: 1

Quote from: louie69 on August 10, 2018, 06:59:57 AM

I had been involved in my previous signature bounty campaign wherein we had finished the campaign for more than 2 months and the bounty manager had just informed it's not his fault and it's the team member's of such ICO's fault since they had left the bounty hunters out of thin air. Therefore, prior to these scam ICO's being accepted by the bitcointalk forum, they should have a contract signing that these ICO should be liable for any shortcomings and should have to pay the bounty hunters token they deserved to have just to be fair since bounty hunters had worked for it.

Agree with you. Maybe they should have to deposit some bitcoin or altcoin to the forum moderator before they can launch their ICOs on this forum.

bituperio

member

Activity: 208

Merit: 13

TRUSTED CARS ICO

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)

It is no different from any other criminal activity. If the get the money and run, it is a fraud and will be prosecuted. If it is just a bad team and poor business... there are no laws against that I am afraid.

louie69

member

Activity: 322

Merit: 12

I had been involved in my previous signature bounty campaign wherein we had finished the campaign for more than 2 months and the bounty manager had just informed it's not his fault and it's the team member's of such ICO's fault since they had left the bounty hunters out of thin air. Therefore, prior to these scam ICO's being accepted by the bitcointalk forum, they should have a contract signing that these ICO should be liable for any shortcomings and should have to pay the bounty hunters token they deserved to have just to be fair since bounty hunters had worked for it.

Everglow

jr. member

Activity: 287

Merit: 6

Just do a carefully research before investing or even participating in bounty campaign of any ICOs. The easiest part is do a research about their team. But ICO now is not governed by the law, it's hard to Punishment them.

nambunamba

member

Activity: 378

Merit: 10

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

Quote from: kingzpro on July 18, 2018, 01:43:07 PM

I think no ico scammer has been brought to justice uptil now but many cointries are busy in setting rules and regulations where only legit ones will be allowed to raise funds and the scammers will be caught and punished.

Yes the protection to investors are really low, Even bitconnect CEO is seems like not getting on jail. We do need a regulation to protect people who invest in cryptocurrency. I believe ETF will be approved by SEC. approvement fro SEC means that they do care and concern with crpyotocurrency and trying to protect the investors from a bubble.

fulled

full member

Activity: 644

Merit: 103

I think for now we just can punish them with social punishment, it simply because many of team project is a fake person, and if they are real person its so difficult to gathering evidances to sue them

takngantuk

full member

Activity: 1024

Merit: 100

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/

good news, I like and support it. hopefully this ICO scam will decrease. and if it is true that all countries are now drafting regulations for the ICO, I am sure there will be a positive impact on Crypto.

Abiodun99

newbie

Activity: 140

Merit: 0

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.

jacksonmark30

newbie

Activity: 91

Merit: 0

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/

Fenderr

jr. member

Activity: 293

Merit: 4

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)

Presently there are no known sanctions and penalties for fraudulent ICO's due to the fact that the industry is highly unregulated at the moment. So it's very easy for fraudsters to get away with almost anything now. When the news about Centra being a scam hit the space and that the devs had been arrested, it brought some hope for sanity in the space. But many scam ICO's go unpunished.

Mohamme

member

Activity: 224

Merit: 10

It is regrettable that there is currently no means of restricting these ICO.
Because so far only the U.S. SEC has begun the arrest of fraudulent ICO projects.

mahvia

copper member

Activity: 226

Merit: 0

who am I to judge. I only flame

Plexcoin has an interesting case going on. just google it and you see some actions going on in Canada and USA. founder was/is? in jail ..

infonik

newbie

Activity: 107

Merit: 0

Tragically, these fraudsters are not subject to any sanctions and punishments, because the current market does not have any legal and departmental supervision, here is like a vegetable market!

kritiana008

jr. member

Activity: 143

Merit: 1

I suppose that scam will be always here and we could not be able to solve this really actual problem. I suggest to be more careful here and to protect yourself from such troulbles with every methodes that you even now only.

redoxet

newbie

Activity: 66

Merit: 0

Fraudulent ICO projects are prosecuted under the law under the criminal code of the Russian Federation, the penalty is up to 20 years in prison.

Topic: Punishment for ICO scams! - page 9. (Read 1969 times)