Someone close lost his bitcoin to some scammers who posed as an ICO project admin.
We have the wallet address but there's no way on planet earth to trace the fraudster offline.
This is actually true. Wallet Address doesn't have any name of it. So we really don't have a way to trace the fraudster.
Don't you think its high time , this is looked into.
There needs to be a way of linking account owners to their offline address .
This would mitigate in no small measure the prevalence of frauds.
The only way to link them is through blockchain. There's chainanalysis, but it has a limit as well. If this fraudster uses what we can mixing services, then its really hard for the authorities to track them down. I do hope that this is another lesson we need to learn and very expensive one. Just don't trust anyone, specially ICO because its very prevalent and 90% are all scams.