Post
Topic
Board Altcoin Discussion
Re: Punishment for ICO for being scammed.
by
iconoclast
on 04/07/2018, 13:38:37 UTC
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?
There are a few instances of Scam ICO's being pursued by legal authorities but they are usually only the real high profile ones. The difficulty is that laws and law enforcement tend to be country specific and the Scams work across international borders and the victims are spread all over the globe. So you may get someone that raises $10,000,000 in their ICO but since there might be only a few victims in the country where the ICO was based the Police will often be uninterested in following up on it. The best advice is be very careful what you invest in because if it turns scam chances are you will never see that money again.