Crimes involving crypto have risen - page 20.

Lanatsa

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Quote from: DoublerHunter on August 08, 2019, 11:06:04 AM

Quote from: ?? on ??

the crime of using fiat currency had already existed long time, why only on bitcoin did they raise the status of being vigilant?
Currency is only a tool, it all depends on the people themselves Embarrassed

^ Definitely right, even in fiat currency crimes involving has been existed. We could not blame that it has also existed on cryptocurrency which is all of these are a tool that has a value and anyone could having bad intention could commit this kind of crime. This is not new on crypto space, so those who are crypto users are already aware of this so, I think the best way is to report any suspicious activity that involves crypto in making crimes.

Anything that has value can really be linked up with crimes yet we know that people do really do things illegal just for the sake of earning money which had been said it isn't really different from fiat thing.

The only thing here is that it do destroys the image of crypto into those new people who haven't known it yet which in result on having a slow adoption.

DoublerHunter

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Quote from: ?? on ??

the crime of using fiat currency had already existed long time, why only on bitcoin did they raise the status of being vigilant?
Currency is only a tool, it all depends on the people themselves Embarrassed

^ Definitely right, even in fiat currency crimes involving has been existed. We could not blame that it has also existed on cryptocurrency which is all of these are a tool that has a value and anyone could having bad intention could commit this kind of crime. This is not new on crypto space, so those who are crypto users are already aware of this so, I think the best way is to report any suspicious activity that involves crypto in making crimes.

UnruffledST

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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.

It won't, the only way it will decrease is when government command its citizen to increase their personal security, as you see now goverments are doing the opposite, forcing companies to move away from end-to-end encryption so that they can easily spy on their citizens. You will be seeing a lot more cybercrimes coming as governements are frowing upon users securing themselves.

dat.ho12492

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Quote from: Free1bitco.in on August 08, 2019, 12:49:49 AM

Quote from: akram143 on August 07, 2019, 05:29:50 PM

not only in the cryptocurrency crime in this world everything is increasing the crime rate so blaming the cryptocurrency only for the crimes will not give any solution for that so I think we need to make the clear decision before what we do this only makes everyone to be clear minded in the future.

if you look broadly, crime happens every day, even fraud outside crypto. when a security is not so tight, there will be an increase in crime, and it happens in all fields. in terms of cryptocurrency, I think indeed some fraudsters involve crypto for their crimes, but, having experience and information, can make us avoid it.

Experience also cannot help us completely avoid mischievous criminals in this area but it is probably enough to avoid the basic situations, the traps that criminals create, and even if the number of crimes increases in crypto, we still should not think this is too bad news, consider a better aspect, the development of crypto has become so prominent in front of people. Sooner or later, when the crime story spreads, the market will get new capital, and maybe we already know we don't have the wrong choice, we've gone earlier than many people

Muzika

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Quote from: ?? on ??

Quote from: maydna on August 08, 2019, 05:02:31 AM

Quote from: akram143 on August 07, 2019, 05:29:50 PM

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.

not only in the cryptocurrency crime in this world everything is increasing the crime rate so blaming the cryptocurrency only for the crimes will not give any solution for that so I think we need to make the clear decision before what we do this only makes everyone to be clear minded in the future.

Yes, I think the crime using fiat still bigger than the cryptocurrency as the cryptocurrency still a new thing for them. But I admitted that perhaps, the illegal transaction in cryptocurrency has grown than before and that is happening in many countries. But still, we cannot blame the cryptocurrency for the crime because fiat still is the option for the bad people to use for the illegal activity. Perhaps, in the future, we will see the crime using cryptocurrency growth again than today as many people will know what cryptocurrency is.

People weren't not that aware about cryptocurrency for its illegal usage. Crimes were there even before the existence of cryptocurrency, to me fiat usage on crime is bigger than cryptocurrencies. Maybe there were more scams in the name of cryptocurrency, but there is not much of crime associated with it.

It is true that you are saying, but nowadays crimes involving crypto currencies have spread to the world, making it difficult for cryptocurrency to be accepted well in countries around the world. so my hope in the future is that crimes involving the good name of crypto can slowly disappear so that crypto can be viewed favorably in all countries of the world

If you will look on the benefits of cryptocurrency it will really left behind those bad things that can be done, but the transaction of illegal is much heavier than the transaction done by a good one. Those illegal transactions are very wide which is from money laundering to the transaction of drug syndicates that is why it must have regulations to stop those deeds.

maydna

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Quote from: akram143 on August 07, 2019, 05:29:50 PM

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.

not only in the cryptocurrency crime in this world everything is increasing the crime rate so blaming the cryptocurrency only for the crimes will not give any solution for that so I think we need to make the clear decision before what we do this only makes everyone to be clear minded in the future.

Yes, I think the crime using fiat still bigger than the cryptocurrency as the cryptocurrency still a new thing for them. But I admitted that perhaps, the illegal transaction in cryptocurrency has grown than before and that is happening in many countries. But still, we cannot blame the cryptocurrency for the crime because fiat still is the option for the bad people to use for the illegal activity. Perhaps, in the future, we will see the crime using cryptocurrency growth again than today as many people will know what cryptocurrency is.

Free1bitco.in

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Quote from: akram143 on August 07, 2019, 05:29:50 PM

not only in the cryptocurrency crime in this world everything is increasing the crime rate so blaming the cryptocurrency only for the crimes will not give any solution for that so I think we need to make the clear decision before what we do this only makes everyone to be clear minded in the future.

if you look broadly, crime happens every day, even fraud outside crypto. when a security is not so tight, there will be an increase in crime, and it happens in all fields. in terms of cryptocurrency, I think indeed some fraudsters involve crypto for their crimes, but, having experience and information, can make us avoid it.

akram143

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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.

not only in the cryptocurrency crime in this world everything is increasing the crime rate so blaming the cryptocurrency only for the crimes will not give any solution for that so I think we need to make the clear decision before what we do this only makes everyone to be clear minded in the future.

alexcopper

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Have you checked out Ciphertraces' report as well detailing crypto crime? They release a new report every quarter https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

iv4n

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Do you know that in some country using bitcoin is illegal activity? Using bitcoins in anyway, earning, buying or selling, is illegal, therefore you are a criminal if you are doing that in some countries. If you do the same in some countries you can be recognized as visionary.
Growing or smoking weed in some countries can put you in jail for a long time, in some other countries the same thing can be profitable, you can even be on front pages and earn money from that.
Start to question systems all over the world, not all criminals are bad people, they just live in fucked up countries with dictators in charge, or morons, which is the same thing in some way. And people, good or bad, criminals or not, will try to find the best way to finish their job, whatever that job is, and crypto is far better than fiat, so it`s not so strange that more people are getting in.

atjiat

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It seems to me that each of us greatly appreciated the advantages of cryptocurrency, which gave anonymity to its owners. But recently, the situation on the cryptocurrency market and in the world has changed very much in relation to the cryptocurrency. Indeed, the percentage of crime related to cryptocurrency has increased very much, and therefore only real control by the state will be able to somehow fight this phenomenon. Therefore, indeed providing passport data in the future will be the norm, as well as the main and most important condition for each cryptocurrency user.

freedomgo

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Quote from: Spaffin on August 02, 2019, 01:22:40 PM

No one doubted that the attackers were able to use cryptocurrency for their fraud and other crimes. But it seems to me that the government and law enforcement agencies should fight with criminals, and not with cryptocurrency. If there is funding for the underworld, then no one undertakes to ban Fiat, but at the same time for some reason speaks negatively about cryptocurrency.

The government has been fighting illegal activities involving crypto, in fact they are working on preventing it, that's why crypto is getting centralized now and some people are complaining since they are not comfortable with KYC compliance and they thought crypto should be exempted since it's decentralized by nature and anonymity is the main benefit of using it. We are gonna enjoy that benefit but if the return is more crimes, I think we should have to sacrifice that anonymity in order for the crypto to grow and prosper.

Spaffin

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No one doubted that the attackers were able to use cryptocurrency for their fraud and other crimes. But it seems to me that the government and law enforcement agencies should fight with criminals, and not with cryptocurrency. If there is funding for the underworld, then no one undertakes to ban Fiat, but at the same time for some reason speaks negatively about cryptocurrency.

goaldigger

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Quote from: maxreish on July 30, 2019, 09:51:38 PM

The reputation of crypto was really damaged because of this fraudalent acts of criminals. There is a small percentage that they actually catch those who illegally uses crypto but this is the negative side and the risks of using cryptocurrency. Being anonymous, that is the only way the criminals won't be traced.

Though our governments are taking actions about this but the reality is that it is difficult for the transactions to be found who really owns it.

Its not just the recent fraud acts happped but since the bitcoin existed, there are numerous negative things happened to it like hacking, phishing and even turning it into an investment scam which happened in my country last 2 years ago.

Sadly, governments are just taking action if the doer is known. If it is not derermined then there would not be an action by the law and the government.

HELLOFF

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I think that no government can avoid the legalization of cryptocurrency, because it is the abuse of cryptocurrency by the market that will speed up the process of establishing order to avoid fraud, but also oblige many companies that participate in the cryptocurrency market to pay the appropriate taxes.

maxreish

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The reputation of crypto was really damaged because of this fraudalent acts of criminals. There is a small percentage that they actually catch those who illegally uses crypto but this is the negative side and the risks of using cryptocurrency. Being anonymous, that is the only way the criminals won't be traced.

Though our governments are taking actions about this but the reality is that it is difficult for the transactions to be found who really owns it.

Gibreil

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We cannot guarantee that we are safe in cryptocurrency. Remember, we are in online and anytime, we can be a victim. Anytime, it could enter the exchanges and collect all the money. The growth of hacking and crimes using cryptocurrency become rampant. I do not know when the police and government take steps to jail them.

ololajulo

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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.

This figure is mostly from exchange hack ( more than half of the figure). when next u state such information give the source, am sure they will state the criminal cases involved. Most of the exchange hack are inside job and mostly happen to thriving exchanges, they are betraying act. Even fiat can be used to perpetrate crime but does not mean it doesn't have other good use. For an internet invention of 10 years, the vulnerability should be high.

el kaka22

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KYC should not be that much to stop these criminals after all. They could just get their hands on ID of plenty of people and continue money laundering however they hell they want. Just to give you an example of how a bad guy could abuse the system, lets say you are someone as rich as pablo escobar, you have billions of dollars and they are all in cash, don't you think it would be simple to just buy ID from all the Colombians you can probably in thousands of them and than use those ID to just launder your money the way you want without a single worry in the world, you can collect millions of dollars worth bitcoin anytime you want and just store it in some hardware wallet and take it wherever you go.

This way a bad guy who is super rich could potentially get away with 100+ million dollar money laundering without a single problem. He would just cash out whenever he needs money from the hardware wallet.

kaya11

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Quote from: freedomgo on July 22, 2019, 05:46:53 AM

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.

That will improve for sure but it will take time, when market regulation happens, scams will be minimize.

Next time you post the source so you will not violate the forum rules which in your part is Plagiarism.
This is the source https://www.coindesk.com/south-korea-estimates-2-year-losses-from-crypto-crimes-at-2-3-billion for sure.

This could not be avoided, it is in the nature. crypto currency or not still there are corruptions, stealing, money laundering etc. All we could do is to be very vigilant. There should be any problems if we equipped our selves with prior knowledge on how to avoid this things in first place. So I think the ones who have been robbed also has their flaws, they let their guards down in fact when it should be up all the time.

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