Some questions here really hurt my beliefe in humanity.
No, you cannot audit this.
No, you'll not get your money back.
No, they'll not rebuy it.
No, no one will hire lawyers for you.
Yes, they got Million of dollars and they spend it for travelling, cars, real estates and parties.
Yes, you can visit them in Belgrad to see how your money is spend. You'll probably not see Sergey since he has a travelling& enjoy life flatrate financed by your MGO funds.
This project is done. Look at the Sholoms facebook, twitter site. It is basically dead since they got your money. They hired from their perspective some really cheap trolls and an agency that will deal with all the bad recent publicity.
You'll all give up in 1-12 month and then they clean what is left to make them shining for the real world.
The Sholoms, the successful brothers who tried to make the world a better place. They are so kind and generous. This is was will be left apart from a bank account filled with tons of your money and some believers they'll feed with "soon" and make fun about that.
Sorry you feel so down.
I think you wrote an excellent post. What you say about the audit is clear and true. If all ICO mangers and project mangers and project CEOs were bound by terms of agreement to release a balance sheet every month after the ICO until the project goes live along with having multi-signature wallet with ICO funders appointed representative to retrieve funds from the ICO pool, then a lot of this scamming would stop.
How is it possible that on so many occasions the people behind successful ICOs are the very same people that are behind the failed projects?
How is that when the projects fail there is no audit to determine if a scam took place all the while scammers are travelling all over the world enjoying themselves from funds that are dubious. Many of the same people return again and again to launch more and more ICOs as they make free money.
So sad.
Very good post.
The question with these multi-sig walltes is also always the same. Who should be in Control if it?
I think Monero has a pretty good funding system. There is an Idea, funding will be required for this particular idea and only if it is done by someone the funds will be released and everything is very transparent.
But people investing in ICO's are blind like hell.
Its really like this:
Give someone in the Internet all your money and he maybe will do something for that. There is nowhere in the world a system that works like this. Give money before work done. And there is a good reason for that. But idiots in the web make it possible to change it. And ya, make them lose money.
And its okay.
Why? Because idiots are idiots and its natural selection that they lose their money and probably won't attract a woman to reproduce themselfes since they are poor.
Look this Thread here. At the beginning and in between there were a lot of voices who warned. And what these idiot shills did? And now they have nothing except some worthless tokens nobody wants.
