Topic: SCAM ICOs, what we can do? - page 18. (Read 7295 times)
It's really disappointing that we can't take legal actions against crypto scammers because most of them are using different identities. Most scammers these days used crypto as a way to steal other's earnings so the best thing that we can do is to get rid of ICO's since we can't determine which projects are a scam and which is legit. The only thing that we can do for now is to be careful upon joining ICOs. We have to do a series of research first. Reminding and warning each other here will also be a big help.
There is nothing much we can do than to be conscious of anything that you want to invest your money into. This is cryptocurrency and it is not being regulated which means there is no law in place that will checkmate the activities of projects owners.
That is why every ICO investor should be very conscious of any of their action thus putting whatever investment made at a very high risk, although few years ago during the bullish period of crypto market a lot of ICOs investor made a lot of profits then scam ICOs were very few however with the turn of event vis-a -vis the turn down of the market had prompted many ICOs to capitalized on that situation thus collected investors funds and ran into thin air without trace knowing that cryptos are unregulated.
We can't punish ico scams because it's the internet world and they use a different identity to have bounty hunters and investors trust them that they are real. For now, all we can do is work together to prevent it from being harmed by other investors and bounty hunters. That's all we can do right now and hopefully the platforms that hold it to make a coin will do the same.
The sad truth is that we cannot punish scammers. The projects have no legal documents and are not protected by law, so it is difficult to find and handle scammers. The only thing you can do is watch it and alert the people around so they don't be fooled.
This year funds of few BTC mixer companies have been seized by the police due to the illegal activities and the no-log policy. The terms and conditions of the scam projects look very similar, in my opinion, they copy-paste from each other. There is nothing left to do if the scammers already took funds and closed the site of projects but spreading the information among the different crypto forums can help the next potential victims.What we can do for now is to boycott ICO's and not to participate on them at all, we should also inform our country, friends and relatives not to invest in any ICO anymore, we should not trust it at all, what we should do for now is to just hold top coins in CMC, and choose what's best fit for you.
Since there is no laws and regulations regarding crypto yet, it is hard for the police officers to know and accused those scammers as there are also very least people who are filing a complaint.
The sad truth is that we cannot punish scammers. The projects have no legal documents and are not protected by law, so it is difficult to find and handle scammers. The only thing you can do is watch it and alert the people around so they don't be fooled.
This year funds of few BTC mixer companies have been seized by the police due to the illegal activities and the no-log policy. The terms and conditions of the scam projects look very similar, in my opinion, they copy-paste from each other. There is nothing left to do if the scammers already took funds and closed the site of projects but spreading the information among the different crypto forums can help the next potential victims. Let alone more and more people are deceived by the ICO scam project and therefore they will think not to happen to him a time so that people will run to IEO better and don't be too careless fraud always lurks prey
And this is the danger with the IEOs. What makes you believe that the IEOs are 100% safe? Now even small-sized exchanges are listing dozens of IEOs at the same time. And I have checked the returns from the recent IEOs. Many of the users who have invested in them have incurred losses. There is a chance that they may go up in the future, but these early signs should be worrying for the investors.
There is nothing much we can do than to be conscious of anything that you want to invest your money into. This is cryptocurrency and it is not being regulated which means there is no law in place that will checkmate the activities of projects owners.
The sad truth is that we cannot punish scammers. The projects have no legal documents and are not protected by law, so it is difficult to find and handle scammers. The only thing you can do is watch it and alert the people around so they don't be fooled.
Simple way to avoid scam ICO is just ignore them all, actually we can't blame the scammer if we know that is scam. For people who using internet must know about its crime, scamming is one of internet crime. So, we can upgrade our knowledge about ICO and another method for scam. If you hesitate to join in an ICO, just forget them and save your money.
I will also ignore such projects instead of bumping them by posting the complaints. Because this kind of scam projects coming to the market and get more negativity or positivity to make themselves famous.
Kindly don't mind to get the the investment on such scam projects without examining the ICO details carefully.
Bumping their threads by accusing them of scam is helpful also, to spread the awareness that no one should further support them or invest to them, and it is everyone's right to speak out for themselves if they got scam by a certain project, the time, efforts, and dedication they had spent on it is no joke.
I'm going to say this again, if we just could predict their ICO if it's going to be a scam or not by examining it, there is no one that's going to complain about being scammed.
Is there anything what we can do to punish them?
Yes. Stop joining their bounties which help them lure in the suckers. Stop investing money in their projects no matter how good they look. If people would stop doing those two things, there wouldn't be any problem in the ico world. But there's no way to 'punish' them unless you were able to report a scam to law enforcement, but nobody has done that so far. 
Simple way to avoid scam ICO is just ignore them all, actually we can't blame the scammer if we know that is scam. For people who using internet must know about its crime, scamming is one of internet crime. So, we can upgrade our knowledge about ICO and another method for scam. If you hesitate to join in an ICO, just forget them and save your money.
I will also ignore such projects instead of bumping them by posting the complaints. Because this kind of scam projects coming to the market and get more negativity or positivity to make themselves famous.
Kindly don't mind to get the the investment on such scam projects without examining the ICO details carefully.
That's one of the responsibilities that come in a free market: be very careful and know what you buy.
No idea if anyone cares about anything on these boards, since it's the Altcoin section after all, but I've written a modest guide quite a long time ago, of which I think it's still up-to-date. Feel free to hit the link, join the discussion and add your own point of view to the checklist.
Even though I think the guide is still up-to-date, I must say it seems like the heyday of scams lays behind us. Hopefully my feeling's right.
No idea if anyone cares about anything on these boards, since it's the Altcoin section after all, but I've written a modest guide quite a long time ago, of which I think it's still up-to-date. Feel free to hit the link, join the discussion and add your own point of view to the checklist.
Even though I think the guide is still up-to-date, I must say it seems like the heyday of scams lays behind us. Hopefully my feeling's right.
Simple way to avoid scam ICO is just ignore them all, actually we can't blame the scammer if we know that is scam. For people who using internet must know about its crime, scamming is one of internet crime. So, we can upgrade our knowledge about ICO and another method for scam. If you hesitate to join in an ICO, just forget them and save your money.
Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?
We can't really tell what we can do to punish them because things like this is beyond and out of our control so sadly we can't really guarantee that there could be an action to save the kind of world we want to create here in crypto space butbwe can still do something about not being a victim of scam ICOs and preventing beginners to be scammed by being educated and knowledgeable about this type of scams, then raise awareness about it or giving some tips about careful and wise decision making in terms of choosing ICOs. Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?
There is something we can do for it and that is for us to avoid them, we should be careful with it, and let the investors or users making sure that they know what they are doing and as much as possible to avoid ICO, as some ICO may not be a scam, but most of the team nowadays after ICO doesn't care about the price anymore, they are just after how much they have raised.
And that is about it, this market was created with the ideals of freedom so if someone wants to release their useless coin then we must let them, scammers have abused the nature of the market and cryptocurrencies in general and have stolen the money of hundreds of thousands of investors, but since then we have seen a backlash, no one is interested in investing in those projects and while I am sorry for the few legitimate developers that wanted to create something new the best is that no one invest in icos anymore. 
I don't believe in ICOs and don't invest in them here. I recommend that you also be careful with ICOs. Find out safer places.
There is no doubt that the reputation of the ICOs have taken a hit due to the recent flood of scam projects. Under such circumstances, it can be very tricky to find genuine projects, that can be held for medium to long term. There are good projects out there, which can give good returns in the long term, but we need to do our proper research before choosing to invest in them.
But I agree with your post. If it is not possible to find projects which can give you guaranteed return, it is best to avoid investing in the ICOs. After all, Bitcoin itself is one of the best investment assets available and the next block reward halving is just a few months away. There is going to be a significant boost from the halving event for sure.
Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?
Never its not the world what we want to create.Its true we have seen a lot of scammed project in the near past.We have to research first before doing something .I hope we will have a lots legit project in recent future .I also don't have any idea how we can give some punishment or refund our valuable asset . Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?
Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?
It is on us, if we let these scam ICO's loss or take our money, be wise in choosing the right coin or token from ICO. Not all will be worth to hold or to buy. That's the only thing we can do and think of the project if it is good to be true or the team are capable of doing the job if not find another ICO if you want to invest. Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?
Let alone more and more people are deceived by the ICO scam project and therefore they will think not to happen to him a time so that people will run to IEO better and don't be too careless fraud always lurks prey
And this is the danger with the IEOs. What makes you believe that the IEOs are 100% safe? Now even small-sized exchanges are listing dozens of IEOs at the same time. And I have checked the returns from the recent IEOs. Many of the users who have invested in them have incurred losses. There is a chance that they may go up in the future, but these early signs should be worrying for the investors.
I don't believe in ICOs and don't invest in them here. I recommend that you also be careful with ICOs. Find out safer places.
It is fine if that is your perspective, there are people same with your thought too that doesn't care about ICO's, they prefer just joining bounties as they will not lose some money on it, if the project was scam, then they just lost and wasted their time but not money, so for some people they prefer not to invest especially if you are unsure and not ready for it, then it's really better not to try.
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