Topic: [2018-03-02] $9 Million a Day Is Lost in Cryptocurrency Scams - page 2. (Read 225 times)
Those figures are really damning indeed. And this is the main argument of those governments who are anti-crypto. Remember China? they suddenly turn their backs because they wanted to protect its citizens from all scams that's been going around. However, we should enjoy and exercise our freedom to invest here. If we are going to be scam, then so be it. Let that be a lessons for all of us, and really a expensive one. But I don't think that you will make the same mistakes twice. As for the hackers and criminals, then we have to own the responsibility to really protect all our funds in a exchanges or even in your own wallet. By now everyone should be aware how to protect our selves from those thieves. If we do our part, then I'm sure that we will not be another victim here.
In the time it takes you to read this sentence, $850 will have been lost to cryptocurrency scams. In the time it takes to complete this article, that figure will have risen to $17,000. Phishing; fraud; theft; hacking; it’s all rife. In the first two months of 2018, there were 22 separate scams involving thefts of $400,000 or more. Put it all together and that equates to an average of $9.1 million a day. Oh, and that doesn’t include 2018’s outliers – Coincheck, Bitconnect, and Bitgrail. Otherwise, the total would actually stand at $23 million a day.
There’s a Scammer Born Every Minute
Welcome to 2018, where $1.36 billion has already been stolen by cryptocurrency scammers, and we’re only 59 days into the year. Even when the big three of Coincheck, Bitconnect, and Bitgrail are removed from the equation, that figure stands at a hefty $542 million. If that trend were to continue for the remainder of the year, hackers, scammers, and fraudsters would pocket $3.25 billion, which is the GDP of a small African nation. That figure sounds damning, and is one that cryptocurrency exponents will be swift to seize upon.
A little context then. One of the best things about the cryptocurrency space is its transparency. This is a principle which doesn’t just apply to blockchains – it applies to the entire ecosystem. Publications such as news.Bitcoin.com, together with many more, while happy to report positive developments, have no qualms about disclosing the negative side of cryptocurrency. The good, the bad, and the ugly are all publicized, firstly because it’s relevant, and secondly because this knowledge helps readers defend themselves against similar scams.
It would be great to see the number of cryptocurrency thefts drop to $4 million a day, then $1 million and eventually zero, but realistically that’s not going to happen. The best that can be hoped for is a reduction in the amount lost to scammers. You don’t have to be smart to trade cryptocurrencies, but doing so will almost certainly make you smarter. The average crypto holder is more aware of security threats, both cyber and physical, and more inclined to question everything. You might one day sell your bitcoin, but you’re unlikely to ever disable your 2FA. That’s what a good grounding in the crypto trenches does.
See more: https://news.bitcoin.com/9-million-day-lost-cryptocurrency-scams/
There’s a Scammer Born Every Minute
Welcome to 2018, where $1.36 billion has already been stolen by cryptocurrency scammers, and we’re only 59 days into the year. Even when the big three of Coincheck, Bitconnect, and Bitgrail are removed from the equation, that figure stands at a hefty $542 million. If that trend were to continue for the remainder of the year, hackers, scammers, and fraudsters would pocket $3.25 billion, which is the GDP of a small African nation. That figure sounds damning, and is one that cryptocurrency exponents will be swift to seize upon.
A little context then. One of the best things about the cryptocurrency space is its transparency. This is a principle which doesn’t just apply to blockchains – it applies to the entire ecosystem. Publications such as news.Bitcoin.com, together with many more, while happy to report positive developments, have no qualms about disclosing the negative side of cryptocurrency. The good, the bad, and the ugly are all publicized, firstly because it’s relevant, and secondly because this knowledge helps readers defend themselves against similar scams.
It would be great to see the number of cryptocurrency thefts drop to $4 million a day, then $1 million and eventually zero, but realistically that’s not going to happen. The best that can be hoped for is a reduction in the amount lost to scammers. You don’t have to be smart to trade cryptocurrencies, but doing so will almost certainly make you smarter. The average crypto holder is more aware of security threats, both cyber and physical, and more inclined to question everything. You might one day sell your bitcoin, but you’re unlikely to ever disable your 2FA. That’s what a good grounding in the crypto trenches does.
See more: https://news.bitcoin.com/9-million-day-lost-cryptocurrency-scams/
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