Crimes involving crypto have risen - page 17.

EdenHazard

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Quote from: lixer on August 27, 2019, 01:57:33 AM

People would only need to be careful same way we are being careful with fiat also, because fiat system is the worst when it to scam rate, and we still have many people that still has not got burnt, the way we are careful is also the way we will be careful with crypto investment also. All these are there because it is still a very young system, and as we continue to move further into more development, there will be so many things that will be put in place to control this.

We have already had the implementation of kyc which is already doing its own work, and sooner than later, as government are beginning to accept crypto now, they will also come up with series of idea that would control the misuse of the cryptocurrency for illegal purposes and these figures will reduce.

Government to control cryptocurrency? Lol are you serious supporting this? Sounds like it's against satoshi vision .. it's obviously against cryptocurrency vision itself that supposed to be remain decentralized, this kind crime issues, abusing the cryptocurrency technology is something really normal to bring up to the public as an effort for those who don't like cryptocurrency become a mainstream thing.

Ignore this kind issue and stop beating around the Bush guys...

lixer

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Quote from: spike420211 on August 20, 2019, 05:44:54 PM

In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

This recording is certainly very disadvantaged for many people because it is very visible that the cryptocurrency industry has a risk that is indeed quite large as we now observe where there are many potential scam projects so indeed we ourselves must be careful if interested in investing

People would only need to be careful same way we are being careful with fiat also, because fiat system is the worst when it to scam rate, and we still have many people that still has not got burnt, the way we are careful is also the way we will be careful with crypto investment also. All these are there because it is still a very young system, and as we continue to move further into more development, there will be so many things that will be put in place to control this.

We have already had the implementation of kyc which is already doing its own work, and sooner than later, as government are beginning to accept crypto now, they will also come up with series of idea that would control the misuse of the cryptocurrency for illegal purposes and these figures will reduce.

wildey

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Quote from: Naida_BR on August 25, 2019, 04:50:31 AM

Quote from: Vishnu.Reang on August 24, 2019, 11:10:13 PM

Quote from: spike420211 on August 20, 2019, 05:44:54 PM

In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

Not really. Every now and then, I am hearing about fake projects. The scammers have just turned to their attention to the IEOs from the ICOs. Even now there is no dearth of investors who are ready to invest in such shady projects without any proper research or study. In terms of absolute value, I would even say that the theft of funds have increased.

Fake project will always exist.
The fact is that now are eliminated very much compared to previous years. There are many mechanisms that ensure the validity of a project. If someone get scammed after all, then he totally deserves that.

we can be sure that one of the strongest crimes in the crypto world is a scam project. This has become popular since 2017 and is quite increasing for now. even for now quite a lot of investors are hesitant to invest in the new ICO / IEO.

however, this makes many people cautious and do a lot of research before investing. this can be avoided by deeper research on a project. Well, maybe right now there are enough people who can anticipate this. the most important thing is to experience research on all parties involved to avoid fraud in the form of projects.

Well, there are many other crimes, but with caution I think we can avoid that.

sinta23

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DogData

This is due to the fact that crypto has not yet been paid much attention by each country. and fraud under the guise of investment or Development projects up to now still cannot be overcome. while the greater demand for each country should provide an opinion on cryptocurrency that they must formulate rules so that people can feel comfortable

Janation

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Quote from: gantez on August 24, 2019, 12:29:20 PM

2017 and last year was really a breeding year for ICO scam. It was really a time that scammers made money off people. It is unfortunate and I hope we don't experience such huge scam anymore.

Why do we need to blame this to these ICO scams?

I know that there are a lot of people wanting to earn money through people falling victim into scams and the reason why they are falling into these scams because we lack information, we lack knowledge about these sites. If we have the knowledge, if we have the information regarding these scams, these ploys they made, we will be able to prevent ourselves from being scammed.

Naida_BR

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Quote from: Vishnu.Reang on August 24, 2019, 11:10:13 PM

Quote from: spike420211 on August 20, 2019, 05:44:54 PM

In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

Not really. Every now and then, I am hearing about fake projects. The scammers have just turned to their attention to the IEOs from the ICOs. Even now there is no dearth of investors who are ready to invest in such shady projects without any proper research or study. In terms of absolute value, I would even say that the theft of funds have increased.

Fake project will always exist.
The fact is that now are eliminated very much compared to previous years. There are many mechanisms that ensure the validity of a project. If someone get scammed after all, then he totally deserves that.

Vishnu.Reang

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Quote from: spike420211 on August 20, 2019, 05:44:54 PM

In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

Not really. Every now and then, I am hearing about fake projects. The scammers have just turned to their attention to the IEOs from the ICOs. Even now there is no dearth of investors who are ready to invest in such shady projects without any proper research or study. In terms of absolute value, I would even say that the theft of funds have increased.

gantez

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2017 and last year was really a breeding year for ICO scam. It was really a time that scammers made money off people. It is unfortunate and I hope we don't experience such huge scam anymore.

Vishnu.Reang

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Quote from: Distinctin on August 24, 2019, 05:47:58 AM

This is the sad truth of ICO in 2017.
Shocking no one, study finds almost 80 percent of ICOs are scams

That's definitely the reason why the market pump and resulted to a big correction in 2018, those scammers started to sell their assets after they saw the opportunity to get a good ROI. The last ICO success was only brought by the hype of BTC's bull run, or should we say the FOMO.

Th first stages of ICO was good, we have a lot of legit projects that until now are still in exchange with good liquidity, but as it grows, scammers sees it an opportunity of them to ride and they had the success that time at the expense of the newbie investors who rush to invest without making a research.

The Bitcoin community should also bear some amount of blame for these scams. The community did nothing when all these ICOs went on with their fund-raising campaigns, despite the shady intentions of the ICO promoters. The majority even opposed regulations. Even here at Bitcointalk, it is very easy to start ANN/Bounty threads, to advertise the ICOs.

Distinctin

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Quote from: Distinctin on August 22, 2019, 09:52:38 PM

Quote from: travwill on August 21, 2019, 01:00:14 PM

Without regulation, this issue cannot be resolved. As we can see, the SEC continues its movement on cryptocurrency projects by filing a lawsuit for those who have committed crimes,
which means the figure announced above may well turn out to be less because some of the funds can be returned after some time.

Funds to be return, that's less likely to happen, maybe this people will go to jail but the money will not be return.
What the SEC are doing now is they are cracking the old scams, that is a good solution but there is a better solution to that, which is the prevention.

They should set a strict rules especially on crowd funding as most victims in the past came from that kind of fund raising, and hopefully it's not only the US who are strict when it comes to crypto regulation, but also the other countries.

I agree scam in the last few years involving ICO projects that collected millions of dollars from many people around the world are very alarming every government must imposed a high penalty if they try to runaway and left many investors many scammers are still at-large today and no case filed while the victims are still suffering financially.

This is the sad truth of ICO in 2017.
Shocking no one, study finds almost 80 percent of ICOs are scams

That's definitely the reason why the market pump and resulted to a big correction in 2018, those scammers started to sell their assets after they saw the opportunity to get a good ROI. The last ICO success was only brought by the hype of BTC's bull run, or should we say the FOMO.

Th first stages of ICO was good, we have a lot of legit projects that until now are still in exchange with good liquidity, but as it grows, scammers sees it an opportunity of them to ride and they had the success that time at the expense of the newbie investors who rush to invest without making a research.

Distinctin

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No dream is too big and no dreamer is too small

Quote from: travwill on August 21, 2019, 01:00:14 PM

Without regulation, this issue cannot be resolved. As we can see, the SEC continues its movement on cryptocurrency projects by filing a lawsuit for those who have committed crimes,
which means the figure announced above may well turn out to be less because some of the funds can be returned after some time.

Funds to be return, that's less likely to happen, maybe this people will go to jail but the money will not be return.
What the SEC are doing now is they are cracking the old scams, that is a good solution but there is a better solution to that, which is the prevention.

They should set a strict rules especially on crowd funding as most victims in the past came from that kind of fund raising, and hopefully it's not only the US who are strict when it comes to crypto regulation, but also the other countries.

Georgfree

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Quote from: Paulinerims on July 22, 2019, 04:39:46 AM

"Nearly 2.7 trillion won ($2.3 billion) have been lost to crimes involving cryptocurrency in the last two years, according to South Korean government data."

where do you see the improvements being made against crypto criminal activity. this can really hurt the price for traders/investors if conditions don't improve.

If you look at the history, you can see that even because of the usual currency, huge financial crimes were committed. And cryptocurrency is currently little regulated and, accordingly, crime will exist.

travwill

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Without regulation, this issue cannot be resolved. As we can see, the SEC continues its movement on cryptocurrency projects by filing a lawsuit for those who have committed crimes,
which means the figure announced above may well turn out to be less because some of the funds can be returned after some time.

Lanatsa

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Quote from: spike420211 on August 20, 2019, 05:44:54 PM

In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

Yes,its lesser but the damage been done is still big where losing up multi or hundred millions of dollars because of exchange hacks and also to those not reported ICO scams that do still exist as of today.

Its true that when that 2017 situation where the entire crypto market is being hyped up, lots of frauds and scams do happen thru ICO and all sorts of swindling like on Hyip/Ponzi sites.

reality18

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Quote from: Paulinerims on July 22, 2019, 04:39:46 AM

"Nearly 2.7 trillion won ($2.3 billion) have been lost to crimes involving cryptocurrency in the last two years, according to South Korean government data."

where do you see the improvements being made against crypto criminal activity. this can really hurt the price for traders/investors if conditions don't improve.

Interesting, such a huge amount. Cryptocurrency was not invented to support crime but bad people use it in a bad way. With the upcoming KYC and Anti-money Laundering required from cryptocurrency users on exchange platforms, there will be reduction is cryptocurrency associated crimes.

spike420211

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In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

Schirer

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This kind of information was also posted in news section of forum with correct references. Which OP also should have done here.

The main thing is that there is no real sources of this information. It is not clear how this information was calculated.

BITDV

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Now crimes involving crypto, before crypto come crimes involving money, before money come crimes involving gold / silver. Crime is crime, whatever methods it will be always crime, and crime always around us. There is no relation between crypto and crime, which means no crypto no crime.

Improvement on security is also researched by everyone, let say there is KYC to minimize money laundry, corruption, etc. Cold wallet, to store your crypto wealth offline and decentralized. Until now crypto researcher is still looking for the best way to make improvements and regulations.

Let say about "Regulation", many people don't agree with this one and better to say "If you want regulations so use traditional way / other methods". But in the other side those who say that also worry if their crypto wealth is not secure. IMO, it's too narrow minded if you think Regulations just like that.

Bit funny while decentralized with regulations, but it also needed

jostorres

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Quote from: ?? on ??

crime will always be there, but it is true, if there are regulations from the government, it can at least reduce the number of crimes that occur. with the weak legal protection as it is today, it makes the perpetrators of crime seem free to move harming others

All that is needed is just for government to set up an agency specially with highly intelligent forces that will go after those scammers who think because cryptocurrency is anonymous, they can use the system to perpetrate evils.

Yes, satoshi is highly smart, but satoshi cannot be the only smartest person, we still have some smarter ones that will find a way to be able to still trace those scammers through their transaction, just that it will require highly intelligent security team, but then we need government to be willing to get involve in crypto, not like this one they keep fighting it often because of the little disadvantage it brings to them which this can also be control, and then we ourselves, if we really want regulation, are we ready for it? And are we ready to accept the rules?

OrangeII

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sometimes, some people take advantage of bitcoin transactions that are very difficult to track, because it makes it easy for them to make transactions. I just read an article from Nytimes, which says that terrorists are starting to use bitcoin. you might be able to read it here

https://www.nytimes.com/2019/08/18/technology/terrorists-bitcoin.html

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