Some coins host an IPO for a coin, and release the coin, but never use the funds to develop it. Is there anything that can be done for this?
For example. SysCoin did an IPO, but I doubt we will see any developments from them. So can they be legally challenged to refund the money?
Or releasing the coin , frees them from any liability ?
You can't just do anything for the ipos. Some people I know simply gamble with the coins they get from the IPOs trying to sell the after the coins is pumped and then trashed. In the other side, I have invested just 1 btc in Ethereum just to help them develop the project even if the coins I got are undervalued at least I have helped them to move forward.