I guess we are using crypto and that has very minimal "ask it back" option involved so the scams are getting out of hand since they know they can't be forced to pay it back.
Let's assume for a second you want to scam someone in dollars, you ask them to "buy" something and when they do you don't give them that item they "bought", what would happen is that person will call for a chargeback and you will be left with less money than you even intended to steal because there is a cost of chargeback. This is why paypal is not liked by many merchants since anyone can claim chargeback even if they receive the item. Bitcoin or any other coin doesn't have that which creates a problem and that is why scams in crypto world is a lot easier and can be done in bulk because nobody can do anything to stop you.
Topic: Crimes involving crypto have risen - page 18. (Read 7325 times)
Sad but true many people using bitcoin on illegal activities because it's untraceable and safe to transacts without engaging it personally and it's been used mostly on drugs more often thru dark web. This crimes giving crypto a bad name to the industry and taking away good people who are using it for good ways.
It can be done without any traces when they've deal directly from wallets to wallets, this market can be a good place for illegal doers as they can facilitate each transactions directly from one wallet to another, most of those people who are looking for easy access will use this venue to have a hassle free business.
Anonymity is good until you lose your hard-earned money to some faceless character online, one way or the other the crypto market will have to open up to regulation.
There is no relation on being anonymous and losing money online, people loss money online because they lack knowledge about crypto, they fall for investment scam because of greediness, being anonymous is a gift for us since we can enjoy our full privacy, no one would want to comply with the KYC requirement so the exchange or the authority can spy us, but if that's the way to minimize the scams, we have no choice but to comply as we all want this crypto space to grow productively. 
Even now, a very large amount of wealth is being lost on various cryptocurrency scams and hacks. Initially everyone was expecting that the incidence will go down with time, as Bitcoin matures as a global currency. But that is not the case. Scams and hacks remain as prevalent as ever and users continue to lose their hard earned money on them.
Hacking and scam is real, I will not dispute it, but sometimes, most of us makes it easy for these scammers to really scam us, we store our money in exchanges, where they can wake up one day to just turn their backs against us and then steal the coin in our wallet, but we have heard that from people severally that we should never store up our coin on an exchange, but yet, some holders still do thatSecondly, we make use of any wallet that is not popular or familiar, or wallet that are not with private key, I don’t think it would be that easy to scam and offline wallet with private key, and concerning scam which mostly occur on ICO market, still our fault that we desperately make investment, do we have to invest in these ICO’s, what happened to already existing top ICOs?
Even today that BTC price has dip due to this bear market, the crimes involving crypto are still counting. Just recently there were news in my country that gamblers in the casino are kidnapping fellow gamblers for ransom. Its not on the news world wide but news clearly says it involves BTC payments for the release of their victims. I guess they knew how to hide behind wallets.
This happens because criminals do not use bitcoin because of its price but because of its technology.
The blockchain technology is an innovative one that makes their activities happen easier. Because of that, it would be stupid to stop using it and use ordinary fiat money. As long as governments would start to understand that cryptocurrencies bring a lot of benefits, criminals would start using other technologies for their operations. Till then, they will reap all the benefits of making transactions with cryptocurrencies.
Sad but true many people using bitcoin on illegal activities because it's untraceable and safe to transacts without engaging it personally and it's been used mostly on drugs more often thru dark web. This crimes giving crypto a bad name to the industry and taking away good people who are using it for good ways.
I think its quite understandable that crypto scams are such a big hit because usually the people who scam each other are from different countries so its hard to take them to court.
However, considering there are legit MLM business models out there in the world where people sell each other shampoo or whatever to make more money and make them join under their affiliate to make more money and so forth, its easy to realize scams in dollar has never gone away, crypto just made it easier and that is it nothing more.
Dollar related scams and people who steal from each other even from their own pockets are still going around every single day, there are billions of money stolen from people all around the world every single day, conman work is a global market basically, crypto just put it on digital scale that is it.
However, considering there are legit MLM business models out there in the world where people sell each other shampoo or whatever to make more money and make them join under their affiliate to make more money and so forth, its easy to realize scams in dollar has never gone away, crypto just made it easier and that is it nothing more.
Dollar related scams and people who steal from each other even from their own pockets are still going around every single day, there are billions of money stolen from people all around the world every single day, conman work is a global market basically, crypto just put it on digital scale that is it.
Even today that BTC price has dip due to this bear market, the crimes involving crypto are still counting. Just recently there were news in my country that gamblers in the casino are kidnapping fellow gamblers for ransom. Its not on the news world wide but news clearly says it involves BTC payments for the release of their victims. I guess they knew how to hide behind wallets.
Wow it's such a big amount of money. But i'm not really surprised though, because although bitcoin is really great, the characteristic of the cryptocurrency make it easier to be used for criminals, and make criminals use it for bad intention. Not bitcoin fault though, just people using it wrongly. It will be really bad for bitcoin reputation and like you said, it might be bad for the investor or traders because it can affect the price.
Even now, a very large amount of wealth is being lost on various cryptocurrency scams and hacks. Initially everyone was expecting that the incidence will go down with time, as Bitcoin matures as a global currency. But that is not the case. Scams and hacks remain as prevalent as ever and users continue to lose their hard earned money on them.
Crypto popularity have risen too. Its all about it. More people will know about crypto more crimes be there
No, that's not the trend that is happening, the more people will know, the more government will find a solution to prevent or minimize the scams in the crypto space. The previous years that we've seen where there's a lot of scams happening are just part of the history now because going forward slowly the government will be implementing laws and guidelines for people to follow and to punish those who violate it, maybe we haven't feel it yet but sooner as more institutional investments will come, this will make the market more secure as they would not risk their money without assurance. 
Maybe slowly the crime can be minimized because of a regulation from related parties that might help to prevent greater losses. So, crime everywhere and especially in the industry has been around for a long time and continues to increase, but after the survival of this industry to the present and growing for the better, then I'm sure the crime will decrease later on the day due to high awareness.
Anonymity is good until you lose your hard-earned money to some faceless character online, one way or the other the crypto market will have to open up to regulation.
There is no relation on being anonymous and losing money online, people loss money online because they lack knowledge about crypto, they fall for investment scam because of greediness, being anonymous is a gift for us since we can enjoy our full privacy, no one would want to comply with the KYC requirement so the exchange or the authority can spy us, but if that's the way to minimize the scams, we have no choice but to comply as we all want this crypto space to grow productively.
Anonymity is good until you lose your hard-earned money to some faceless character online, one way or the other the crypto market will have to open up to regulation.
there have been many examples of people who lost assets because of their own carelessness. and that happens the most
What about those people who lost thier cryptos inside the exchange because the exchange have been hi jacked ? I dont think thats because of the users carelessness but i dont also think that its the exchange fault because i believe exchanges do whats best to improve thier security because many people are depending on them . its just a mere accident that cant be avoidable .past crimes are more but it should have been lessen as we move forward because people are getting aware or vigilant .
It would be really good if someone can actually think of a project for these kind of criminals, thou it would take a lot of money to be really real.
Why do they need to bother?
It is not that they are impossible to stop, it is just that they are smarter enough than their victims. That is the reason why people should really educate themselves about these crimes, about these scams and these hacks. How would you secure your balances? what you should do? Decetralization is a great thing and obviously, crime would be really connected to it.
People doing crimes are really genious. They used crypto currency for their illigal activities but sadly it will not last for long. Like here in our country ,there are group.of people using crypto in black market just to spread the illigal drugs here but they didn't succeed... Because of decentralized and anonimity they are free to use crypto wherever they want,bad or good they don't care.
I was one day doing a research about this and based on what I’ve got to know, the only way that a problem like this can be solved is when cryptocurrency starts being regulated, that way they can tell where every money is heading and also be trace it and catch the criminals that are involved.
But, people don’t want cryptocurrency to be regulated, that’s another thing, because they believe that they are not meant to be giving out any information about themselves, they just want to stay anonymous and also pay less for transactions and all that. So the only thing they can do now is just to be careful and stop falling for scamming traps that are being led online. If not that, then we will have to opt for regulation as a whole.
Another thing that just came to mind now –all these attacks on cryptocurrency are happening on centralized exchanges, and they are the ones that are getting hacked and losing the money that are being put in their care. Maybe it would be best for people if they stop making use of centralized exchanges and then go for decentralized exchanges cause those ones are more safe than the exchanges that are centralized. The only thing is that decentralized exchanges are difficult to use, but centralized are very easy.
But, people don’t want cryptocurrency to be regulated, that’s another thing, because they believe that they are not meant to be giving out any information about themselves, they just want to stay anonymous and also pay less for transactions and all that. So the only thing they can do now is just to be careful and stop falling for scamming traps that are being led online. If not that, then we will have to opt for regulation as a whole.
Another thing that just came to mind now –all these attacks on cryptocurrency are happening on centralized exchanges, and they are the ones that are getting hacked and losing the money that are being put in their care. Maybe it would be best for people if they stop making use of centralized exchanges and then go for decentralized exchanges cause those ones are more safe than the exchanges that are centralized. The only thing is that decentralized exchanges are difficult to use, but centralized are very easy.
"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.
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.
For me, that's huge money that they are talking about. But most crimes involving cryptocurrency is in investment. There is always a person who will invest his/her money on the things that he/she can't truly understand or lock of knowledge. Bitcoin and another cryptocurrency is just a digital currency; this currency can't work alone; I never heard that bitcoin itself scam a person. But in the bright is it's a trillion of money process legally vs. billion, and I'm sure most of that transaction help a person to change their lives.
"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.
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.
For me, this news in an improvement in the crypto space.
It shows that cryptocurrencies have a competitive advantage over other currencies and criminals are taking benefit of them.
On the other hand, how many money in fiat, are involved in criminal activities in the last two years?
Why don't we have news on that?
Apparently, the amount of money in crypto has risen but I think that the amount of money in fiat is still higher.
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