Who is responsible for fraud projects. doesn't that cause a lot of losses and what punishment is worth.
What do you mean who is responsible, you mean the one that will run after the ICO proved to be a fraud, you can report it in the country where they are operating but it's better to report them while they are still in their ICO stage, because some of them are using fake profiles you will not know who you gonna run after.
Nobody doesn't know whether they are fake people are genuine people, everything seems to be perfect but after rasing, they will become cruel and start cheating people without any developments. Each government should come up different solution for the ICO's.