Corrupt people in crypto - page 4. | Bitcointalksearch.org

RealMalatesta

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Quote from: SirLancelot on November 28, 2022, 10:58:52 AM

If the scammers are anonymous and haven't been caught out on the past then they can always return with another new identity once their old scam business have been busted out and not only newbies are affected here but even the people who have been here before or the people who already have experience may still get caught out by their scams if they change their approach because there is also pro crypto players who likes to venture new and risky stuffs thinking that no bad things will happen to them because they already have an experience in this field but they shouldn't be over confident and underestimate the ability of the scammers.

That's what they usually do, they end up scamming people and then get a new name and scam people again. It is clear that if someone realizes they could steal money from others and actually make a profit from it and nothing happens to them, they will keep doing that for a long time.

I hope that we wouldn't see more scammers but as long as there are gullible people who fall for others, we are not going to really get less scammers. Hopefully one day we will see a lot less scammers but it will not be that easy and it will be a ton of issues at the same time. It's not something that can be stopped, and I am guessing that it's going to be a trouble forever.

Kadal Ijo

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Quote from: odunybiz on November 28, 2022, 07:10:30 PM

In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.

Opportunities for corruption can occur at any time, especially cryptocurrencies, the level of competition is very tight and makes developers sometimes impatient to compete in the market so that the best thing is with corruption, FTX will definitely think that the business they do will be safe and unknown to anyone, unfortunately when a test occurs Small then they just regained consciousness and difficult to refute the facts.

19Nov16

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Corruption that looks smooth but very promising and big profit is to create a cryptocurrencies project, even the last 5 years trend shows the level of financial crime from Cryptocurrencies continues to increase, it is natural that many exchanges plan to make regulations so as to make investors more confident in cryptocurrencies.

odunybiz

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In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.

SirLancelot

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Quote from: blockman on November 27, 2022, 08:06:08 PM

I think there's really no new player at all. They're just changing their styles and approach to the market because they've already been here. They know the know-how and stuff so they're stepping on this market quite easily for them and since they've been here before.
While the newbies they are targeting, they've got no idea how they're being done and caught by these people because they've been doing that for so long. We may not be judgmental but when you observe what they've been doing, it's so hard to catch them but when you've seen the similar of what they've done in the past, you'll figure it out.

If the scammers are anonymous and haven't been caught out on the past then they can always return with another new identity once their old scam business have been busted out and not only newbies are affected here but even the people who have been here before or the people who already have experience may still get caught out by their scams if they change their approach because there is also pro crypto players who likes to venture new and risky stuffs thinking that no bad things will happen to them because they already have an experience in this field but they shouldn't be over confident and underestimate the ability of the scammers.

Dunamisx

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There's no doubt about it that we have corruption everywhere and that in cryptocurrency has to do with our level of exposure in identifying those kinds of cryptos that could lead to scam especially when dealing with centralized ones which have not been in existence over years but are seeking to boom their project by traffic hype on investors, they manipulate things to suite others in other to decieve them into investing, by now i think the recent events on scams will make people realizes more need to avoid some coins and also research properly with what they invest into before getting scammed the second time.

Kakmakr

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It is very difficult for the developers of these projects to prevent criminals from misusing their platforms. Scammers and criminals will target all platforms, if there are money involved.

This weekend someone told me about a weather App that had a built in "Chat" service... that were infiltrated by a drug syndicate and they were using coded messages to buy and sell drugs in that chat.

I think the developers can only wait for it to happen and then "block" those users when it is reported to them or the moderators. Sad

adiksau0414

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If money is involved, we can't guarantee individual who are into the project won't be corrupt. Even though, these project might have its own goal in dominating in their fields but mishandling of the project might end up in the wrong path. We can say that each of everyone of us have its own greed, but its up to us how to control to be a bigger greed. Not only in crypto who have corrupt individual; in our jobs, government, in our community, etc.

CageMabok

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Quote from: Lubang Bawah on November 28, 2022, 05:54:53 AM

The scam project certainly cannot be stopped, all we can do is take action immediately if there are suspicious things, for example if within a few days the price continues to decline and the existence of suspicious transactions such as a very large volume of transactions then we better sell it immediately, the possibility of developers Having the biggest stock is the seller.

What you say will be easier to find out if what we have is a new altcoin where there is not much transaction volume in the market. Whereas in altcoins that are already popular or in the example of Bitcoin for example, I think it will be a little difficult to know because old altcoins that are popular are always very large in volume in the market. Likewise, the volume in Bitcoin is always very large in all markets. It will be difficult to know who is actually selling in large quantities, because accusing without more accurate evidence is a mistake.

arwin100

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Quote from: rat03gopoh on November 28, 2022, 06:19:27 AM

Quote from: Reid on November 27, 2022, 05:12:25 PM

But investors who are just jumping from one hype to another are the ~~ones who should be careful on this kind of corrupted projects as how you said it.~~

Greedy people don't really like stable incomes, they prefer to be put their risk like this. At certain moments of hype, I think greedy people get together and just race to grab each other.

Natural reaction of people towards they see and they always think what they saw on some people is true that's why many fall from the promises created by those scam platforms and they used the emotions of people to deceive them. This is why its important to develop to enhance our common sense on everything since this can help us to think more clear and find good answers towards things we want to do but we don't know where to start from.

posi

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Quote from: gunhell16 on November 27, 2022, 11:25:17 PM

Quote from: krishnaverma on November 21, 2022, 08:24:38 AM

A lot of bad incidences happened in crypto community this year including:

1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi

All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?

Greedy and wild people will not disappear, because greed is a part of every individual's lifestyle. The easy thing to do is to avoid falling victim to this scandal.

So no matter what bad things are happening this year 2022 in this industry, all we can do is double the caution and be smart with every coin or token we choose to buy to hold it long term or short term so as not to get stuck our possessions in any of the exchange platform whether it is centralized or decentralized, just simple as that.

We are also greedy people, so we cannot say that we should find a way to stop those greedy people. Greed is a part of being human, where there are people there is greed.

If OP can't stand the cruelty these altcoin projects bring, you still have the option to avoid all of this, invest in bitcoin and use a non-custodial wallet, you will avoid all these scams. In case you can't do it, you should prepare for the risks that you may encounter, don't ask the greedy to leave the market while we are also greedy.

rat03gopoh

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Quote from: Reid on November 27, 2022, 05:12:25 PM

But investors who are just jumping from one hype to another are the ~~ones who should be careful on this kind of corrupted projects as how you said it.~~

Greedy people don't really like stable incomes, they prefer to be put their risk like this. At certain moments of hype, I think greedy people get together and just race to grab each other.

Lubang Bawah

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Quote from: Reid on November 27, 2022, 05:12:25 PM

There had been less trust even before. Those who can take the courageous risk and be patient are the ones left in the crypto field.
But investors who are just jumping from one hype to another are the ones who should be careful on this kind of corrupted projects as how you said it.

How to stop them? You cannot. If you will have the knowledge initially about their scam attempts, then you could warn people but stopping them by yourself or just one group cannot be done. The market will be the judge if they are to become dust.

The scam project certainly cannot be stopped, all we can do is take action immediately if there are suspicious things, for example if within a few days the price continues to decline and the existence of suspicious transactions such as a very large volume of transactions then we better sell it immediately, the possibility of developers Having the biggest stock is the seller.

gunhell16

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Quote from: krishnaverma on November 21, 2022, 08:24:38 AM

A lot of bad incidences happened in crypto community this year including:

1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi

All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?

Greedy and wild people will not disappear, because greed is a part of every individual's lifestyle. The easy thing to do is to avoid falling victim to this scandal.

So no matter what bad things are happening this year 2022 in this industry, all we can do is double the caution and be smart with every coin or token we choose to buy to hold it long term or short term so as not to get stuck our possessions in any of the exchange platform whether it is centralized or decentralized, just simple as that.

blockman

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Quote from: n0ne on November 27, 2022, 06:41:53 PM

Quote from: blockman on November 27, 2022, 06:37:09 PM

This is a risky market and it's true that there's even lesser trust before because everyone thinks that bitcoin is an internet money scam and whatsoever they can think of it negatively. Now, that it's gotten big and more wide reach to investors worldwide, there's still the thinking about it for being bad and with all of these companies that are having their exit, it's hard to see that they'll be gone forever because eventually, there will be a new one.

Market is young, as said when someone takes an exit new player makes his entry. In a trust based market we can't complaint anyone to be wrong or right. We've taken to move on a high risk investment, and so should be our thoughts.

We can't be judgemental on specific person to be corrupt, each and everyone is responsible for the transition of a common man to a corrupt man. This happens when we expect things to happen good always without understanding what is happening around us.

I think there's really no new player at all. They're just changing their styles and approach to the market because they've already been here. They know the know-how and stuff so they're stepping on this market quite easily for them and since they've been here before.
While the newbies they are targeting, they've got no idea how they're being done and caught by these people because they've been doing that for so long. We may not be judgmental but when you observe what they've been doing, it's so hard to catch them but when you've seen the similar of what they've done in the past, you'll figure it out.

n0ne

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Quote from: blockman on November 27, 2022, 06:37:09 PM

Quote from: Reid on November 27, 2022, 05:12:25 PM

There had been less trust even before. Those who can take the courageous risk and be patient are the ones left in the crypto field.
But investors who are just jumping from one hype to another are the ones who should be careful on this kind of corrupted projects as how you said it.

This is a risky market and it's true that there's even lesser trust before because everyone thinks that bitcoin is an internet money scam and whatsoever they can think of it negatively. Now, that it's gotten big and more wide reach to investors worldwide, there's still the thinking about it for being bad and with all of these companies that are having their exit, it's hard to see that they'll be gone forever because eventually, there will be a new one.

Market is young, as said when someone takes an exit new player makes his entry. In a trust based market we can't complaint anyone to be wrong or right. We've taken to move on a high risk investment, and so should be our thoughts.

We can't be judgemental on specific person to be corrupt, each and everyone is responsible for the transition of a common man to a corrupt man. This happens when we expect things to happen good always without understanding what is happening around us.

blockman

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Quote from: Reid on November 27, 2022, 05:12:25 PM

There had been less trust even before. Those who can take the courageous risk and be patient are the ones left in the crypto field.
But investors who are just jumping from one hype to another are the ones who should be careful on this kind of corrupted projects as how you said it.

This is a risky market and it's true that there's even lesser trust before because everyone thinks that bitcoin is an internet money scam and whatsoever they can think of it negatively. Now, that it's gotten big and more wide reach to investors worldwide, there's still the thinking about it for being bad and with all of these companies that are having their exit, it's hard to see that they'll be gone forever because eventually, there will be a new one.

Reid

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There had been less trust even before. Those who can take the courageous risk and be patient are the ones left in the crypto field.
But investors who are just jumping from one hype to another are the ones who should be careful on this kind of corrupted projects as how you said it.

How to stop them? You cannot. If you will have the knowledge initially about their scam attempts, then you could warn people but stopping them by yourself or just one group cannot be done. The market will be the judge if they are to become dust.

sana54210

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Quote from: Charles-Tim on November 22, 2022, 04:47:52 AM

All these are happening because people is changing what crypto supposed to be, how Satoshi left it for them, coins transactions supposed to be trustless in a way you do not have to depend on any centralized service, but see all what you named, they are centralized services, nothing like noncustodial wallet or decentralized exchange like Bisq mentioned. If you trust someone, the person can disappoint you, which was what FTX started.

Unfortunately, there is a "need" for a centralized system surround the decentralized world. Well, simply because just look how to turn your fiat into crypto and crypto into fiat and you will see the easy part. Maybe the trading world could go into DEX and maybe that will help the decentralization, with FTX then we could start that but what about Luna? That wasn't centralized and yet still ended up like that, because some people found how much money was needed to take out all the cash.

So, there is no way to avoid any loss, there will be some loss, we just need to make sure we are spread around thinly enough that one big deal wouldn't take away all our money.

crwth

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Isn't it that it's corrupt people in general? Many people are so blinded by greed that they are desperate to get more and more and are unsatisfied with what they already have. We will have that risk if we stay in centralized exchanges and support projects with sketchy or too-good-to-be-true backgrounds.

We can never prevent those incidents because it will be knowing whether or not they have planned it. It's hard because that will be within their control, not ours.

It's best to protect what we have and continue having plans for ourselves. It's what you can control.

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