Topic: The SEC has started enforcement actions against fraudulent ICOs (Read 515 times)
Better late than never. I've come to treat government agencies as thieves looking for an easy prey. When BTC was worth less and there were less money on the line the SEC didn't care and were slow to act, but when we tripled the value this years suddenly everyone wanted in. The banksters woke up and started threatening, Chinese government did the same, and now the SEC...
October 02, 2017, 09:30:30 AM
According to a new press release from the SEC, two ICOs have been targeted for enforcement actions -- REcoin and the Diamond Reserve Club, which are apparently run by some fraud named Maksim Zaslavskiy. He claimed that $2 - $4 million was raised in the ICOs, when only $300,000 was raised. He also claimed to have a "team of lawyers, professionals, brokers, and accountants" when apparently none had ever been consulted. There is an emergency court order to freeze his assets (but good luck to the victims in recovering the funds)....
See here: https://www.sec.gov/news/press-release/2017-185-0
See here: https://www.sec.gov/news/press-release/2017-185-0
its great news for investor at least they can feel safe because for now, sec will watching the ico and if there are any potential scam ico, they will chase the dev and the teams. it will makes the ico itself have a better project without any worried from the investor. and we can hope that in future, there are no more scam ico although the possibility is always there.
October 02, 2017, 04:29:51 AM
According to a new press release from the SEC, two ICOs have been targeted for enforcement actions -- REcoin and the Diamond Reserve Club, which are apparently run by some fraud named Maksim Zaslavskiy. He claimed that $2 - $4 million was raised in the ICOs, when only $300,000 was raised. He also claimed to have a "team of lawyers, professionals, brokers, and accountants" when apparently none had ever been consulted. There is an emergency court order to freeze his assets (but good luck to the victims in recovering the funds)....
See here: https://www.sec.gov/news/press-release/2017-185-0
See here: https://www.sec.gov/news/press-release/2017-185-0
About time! ICOs should not be used to mask scams! It also tarnishes the image of other ICOs and that it doesn't improve the cryptocurrency economy. People get more afraid in investing into the future if these people just try and scam every single one of the investors. Also, it is totally illegal in all jurisdictions to scam, so they should not be safe because they did it on the internet.
October 02, 2017, 04:20:19 AM
They might get their money back as well, you cannot say.
Well, Zaslavskiy told they offered refunds a while ago. So it is not the point I guess. 
October 02, 2017, 04:02:10 AM
Finally, we can see some official and legal action taking place for the ICOs that has scammed it's users and investors. Finally people will now be able to get some justice now. They might get their money back as well, you cannot say. Let those assholes pay for what they have done ,ruining the hearts and lives of innocent people I swear. But it's the fault of the investors as well. They should have seen it coming.
October 02, 2017, 02:29:36 AM
Why does almost everyone on here think this is a "good thing"?
Typical of stupid people requiring government help to protect stupid people from themselves. How about stupid people pay more taxes, instead of intelligent people paying more taxes to protect stupid people.
Too many socialist fuckwits on this forum. Bugger off, Bitcoin isn't for stupid people.
Typical of stupid people requiring government help to protect stupid people from themselves. How about stupid people pay more taxes, instead of intelligent people paying more taxes to protect stupid people.
Too many socialist fuckwits on this forum. Bugger off, Bitcoin isn't for stupid people.
Why the hostility? Are you running one of these scam ICO's? It is incredibly short sighted to expect people to govern themselves, if they were sheep for the most part of their lives. If ICO's are left unregulated, we will soon have a orgy of scammers, destroying it. < What do you think will happen, if ICO's build up a reputation of being a scammers paradise? >
People will just stop investing in ICO's and all the innovation it might have brought, would go down with it.
Let the governments punish the scammers with huge penalties and clean up the shithole it is turning into now. We hate regulation, but we know governments will not allow it to continue, if it continue like this. You do not have to be a socialist fuckwit, to predict what will happen with ICO's if it is left to go on as it is doing now. ^hmmmmm^
Do you think people will re-invest, if they got burned by several scam ICO's?
October 02, 2017, 01:44:29 AM
I really do pity the gullible victims in this case. However, I believe it is high time they started dropping in hard and using some of these scammers as scape goats. It is long overdue and there should be a huge monitoring on the ICOs since they have thought it to be an easy way to raise funds disguising under a project in the name of ICO. Not so happy it had to get to this though cause situations like this could have been averted but It is just painful how some people cannot just make due research on their own to enable them play safe at least.
October 02, 2017, 01:16:46 AM
This is how it should be. If these fraudulent ICOs are penalized, then countries would not have to ban them as a whole. These scams have been making people wary even of legit ICOs for too long.
As for stupid people needing protection from the government, well... that's just how it is. To me, it's not so much protecting stupid people, it's more of scammers being prosecuted. The world is a better place without them.
As for stupid people needing protection from the government, well... that's just how it is. To me, it's not so much protecting stupid people, it's more of scammers being prosecuted. The world is a better place without them.
It's good because the government has actually given attention to the business dealings and doings of the ICOs, and they've made some actions so that they may further protect its citizens and crypto users. A lot have been already suspicious of ICOs because of the numerous scams, and these regulations may encourage the people to invest again.
If the government do not make any action and regulations are not made, then the scammers would just continue to do about their business because they're not afraid of getting caught. With these regulations and help from the government, it will control and bring justice to these scammers. It's about time that something's to be done about this because a lot have fallen victim to the fraudulent ICOs.
October 01, 2017, 11:44:54 PM
It's good to see that finally some action is being taken on the scam ICO's, at least now countries don't need to follow China's footsteps and adapt more harsh methods like baning all the ICO's.
October 01, 2017, 11:34:46 PM
This is a great step to punish those who are targeting the ICOs whose real purpose is to steal money. That is why today it has a huge impact on crypto industries because the exploiters will be cut short. And that's really going to give us the safe and good investments we can take. Thanks to the SEC and this is what they have done so that our hard-earned money no longer steal anyone
October 01, 2017, 10:49:30 PM
According to a new press release from the SEC, two ICOs have been targeted for enforcement actions -- REcoin and the Diamond Reserve Club, which are apparently run by some fraud named Maksim Zaslavskiy. He claimed that $2 - $4 million was raised in the ICOs, when only $300,000 was raised. He also claimed to have a "team of lawyers, professionals, brokers, and accountants" when apparently none had ever been consulted. There is an emergency court order to freeze his assets (but good luck to the victims in recovering the funds)....
See here: https://www.sec.gov/news/press-release/2017-185-0
See here: https://www.sec.gov/news/press-release/2017-185-0
Good, about time they actually got involved with this sh@!. Ive personally fallen victim of a fraudulent ICO and ended up throwing away a decent chunk of my investing pot.
October 01, 2017, 10:46:20 PM
That's a good thing. If the SEC is concerned about safeguarding our (investor's) interests then it is good by all means. It just means that they are taking the ICO business for serious, accepting it as a form of a business transaction and ready to invest their resources in it.
October 01, 2017, 10:38:35 PM
An ICO works the same way as an initial public offering in that it’s a way for a company to raise money from the public. In a typical ICO, which can last anywhere from a few hours to a few weeks, the company invites people to buy tokens (aka digital coins) to fund a project. These projects involve blockchain software such as Ethereum, which runs across multiple computers in order to create a tamper-proof digital ledger. The software can also be programmed to do things like create so-called smart contracts or make investments. To take part in the ICO, supporters of the project send digital money like bitcoin (or in some cases use credit cards) to a website run by the company and then receive digital tokens in return.
October 01, 2017, 10:25:18 PM
This is how it should be. If these fraudulent ICOs are penalized, then countries would not have to ban them as a whole. These scams have been making people wary even of legit ICOs for too long.
As for stupid people needing protection from the government, well... that's just how it is. To me, it's not so much protecting stupid people, it's more of scammers being prosecuted. The world is a better place without them.
As for stupid people needing protection from the government, well... that's just how it is. To me, it's not so much protecting stupid people, it's more of scammers being prosecuted. The world is a better place without them.
October 01, 2017, 07:29:13 PM
Why does almost everyone on here think this is a "good thing"?
Typical of stupid people requiring government help to protect stupid people from themselves. How about stupid people pay more taxes, instead of intelligent people paying more taxes to protect stupid people.
Too many socialist fuckwits on this forum. Bugger off, Bitcoin isn't for stupid people.
Typical of stupid people requiring government help to protect stupid people from themselves. How about stupid people pay more taxes, instead of intelligent people paying more taxes to protect stupid people.
Too many socialist fuckwits on this forum. Bugger off, Bitcoin isn't for stupid people.
October 01, 2017, 05:47:40 PM
According to a new press release from the SEC, two ICOs have been targeted for enforcement actions -- REcoin and the Diamond Reserve Club, which are apparently run by some fraud named Maksim Zaslavskiy. He claimed that $2 - $4 million was raised in the ICOs, when only $300,000 was raised. He also claimed to have a "team of lawyers, professionals, brokers, and accountants" when apparently none had ever been consulted. There is an emergency court order to freeze his assets (but good luck to the victims in recovering the funds)....
See here: https://www.sec.gov/news/press-release/2017-185-0
See here: https://www.sec.gov/news/press-release/2017-185-0
If this is happening, then its good news after all. Going after them is all that matter and also sending a message to those who have the intention that SEC is watching them as there is no where to hide. Its obvious that they had scam intention from the beginning its a different thing not to raise up to expectations then return funds to the owner. But lying over the calibre of people brought on board, and the amount raised is an obvious intention to commit fraud and they should pay for it.
October 01, 2017, 05:40:45 PM
Well the this is a good thing in this ICOs why? fraudsters is using ICO to scam the customers or the investors and they are spreading like virus and it is hard to trust which is legitimate and which is the fraud ones so, government wants to end this and i support this.
October 01, 2017, 04:50:16 PM
According to a new press release from the SEC, two ICOs have been targeted for enforcement actions -- REcoin and the Diamond Reserve Club, which are apparently run by some fraud named Maksim Zaslavskiy. He claimed that $2 - $4 million was raised in the ICOs, when only $300,000 was raised. He also claimed to have a "team of lawyers, professionals, brokers, and accountants" when apparently none had ever been consulted. There is an emergency court order to freeze his assets (but good luck to the victims in recovering the funds)....
See here: https://www.sec.gov/news/press-release/2017-185-0
Good, the more they manage to crack down on these ICOs and stop people from making tokens at nearly no expense to themselves just so that they can sell a tool for speculation, which is completely forgotten in just a few weeks time, at best, is a good thing. Which I have said many, many times by now on this forum and when talking to other people. Now that the SEC is finally going to start shutting their crap down, it will make sure that ICOs at least try now, and not just operate so that they make money and money only for the devs. See here: https://www.sec.gov/news/press-release/2017-185-0
October 01, 2017, 04:44:40 PM
His name looks Russian... So many Russian scammers in crypto these days.
I was told he is from Ukraine but moved to the USA in the beginning of 90s. So maybe he is an American citizen 
October 01, 2017, 04:44:26 PM
true, the customer is the victim of the impact of the fraud. nice to be learning for ico who just want to cheat the investors, I'm glad if there are institutions that oversee developers like ico
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