Crimes involving crypto have risen - page 21.

Leameyer

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Quote from: rose9696 on July 29, 2019, 12:48:23 AM

they will soon find solutions. Because our decentralized market is having a lot of security problems and there are many fraudulent businesses here.
I believe that businesses that operate should be certified by the SEC and through a number of legal documents. Besides, crypto businesses should also be controlled by their daily transactions. That is the only way to prevent scams.

Their only solution is to demand an 2 way security system rom the user although most hacks como over the admin area.
Admins are still dumb enough to use qwerty123.

Naida_BR

member

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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 is normal that criminals use cryptocurrencies in their operations.
They are not so stupid to let this technology go by without using it.
They take advantage of it as it helps doing their job easier.

rose9696

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https://streamies.io/

they will soon find solutions. Because our decentralized market is having a lot of security problems and there are many fraudulent businesses here.
I believe that businesses that operate should be certified by the SEC and through a number of legal documents. Besides, crypto businesses should also be controlled by their daily transactions. That is the only way to prevent scams.

bryant.coleman

legendary

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Quote from: ?? on ??

Thats the hard truth in crypto, everything can be done in private. Almost all illegal activities can be made through crypto in these days. No banks involve its just the seller and buyer.

What you are saying is quite far from the truth.

Cryptocurrencies such as Bitcoin and Ether are not completely anonymous. All the transactions are stored in the Blockchain and with some effort the coins can be traced back to the individual user.

And I don't understand when you say "almost all illegal activities can be made through crypto". You need to understand that cryptocurrency is just a payment medium, just like fiat cash. And its lack of interchangeability makes it unsuitable for crimes such as money laundering.

And one more thing. How can you be sure that the banks are not involved? In case you want to convert crypto to fiat, then you need to involve the banks at some point.

Faxmate

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Quote from: hahay on July 26, 2019, 10:42:39 AM

Quote from: adzino on July 26, 2019, 10:00:43 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.

Crimes existed from the very beginning. People steals fiat money everyday. Did we ever say that "no criminal activities will take place with crypto currencies"? Nope, we never said that. Now people may argue that they are anonymously doing all those illegal activities using crypto currencies. Well, people used to do that same thing before crypto currencies were invented. They used prepaid cards or gift cards to do those illegal activities. It is just that the media starts to exaggerate when it comes to crypto currencies.

Yes that is true, because cryptocurrency itself has become something negative for ordinary people so that when there are crimes involving crypto it will become big by many media. But, when mass adoption continues and there are many people who believe in cryptocurrency, I personally believe such crimes do not have a negative impact on cryptocurrency growth.

Crime and crypto both had no connection because both of then are being done for different purpose we know. Crypto currency is making our life good it has positive change in our life and crime is bring in our life since long from the time when bitcoin was not even invented so bitcoin did not increase the crime in our life.

FanEagle

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Some exchanges are fully regulated, they are still getting hacked. It is not about regulations but more about what can you do after a hacking attempt. You think governments wouldn't want to catch the criminals and take the money back as much as they can and put them in jail? It is even easy to get as much money back as possible by telling the criminals more money they return the less jail time they will get, so the criminal will pay every single cent they have in order to spend less time in jail.

Exchanges also pay taxes a lot, these are millions of dollars worth companies that pay millions of dollars worth tax every single year so if they can stop hacking they would. However when a hacker gets the money it is really hard to catch them, they already know the secrets of crypto by doing something illegal, they are very well aware how to hide their footsteps too.

Mahanton

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Quote from: bernardos on July 27, 2019, 09:24:15 AM

I hate how people are trying to make crypto users the bad guys with excuses like Bitcoin can be used for illegal activities and drug trafficking. Just because we have underground forums trading with Bitcoin or other crypto they are making it look like we are all enemies to economic prosperity.

But they forget all the bank crisis throughout the decades. They forget how drugs are smuggled into the US and paid with $ or the crisis with the Swiss Franc from not so long ago.

Get used to it because that's how sad the reality was.Government will always cover up their own shit and targeting things mainly that do opposes their
likes.

Crimes either crypto or into traditional fiat system will always exist yet money do always get involved but I agree that as of these days they do target out crypto people
to be part of such crime activity without even knowing the truth behind.

MonsterV

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Quote from: adzino on July 26, 2019, 10:00:43 AM

Crimes existed from the very beginning. People steals fiat money everyday. Did we ever say that "no criminal activities will take place with crypto currencies"? Nope, we never said that. Now people may argue that they are anonymously doing all those illegal activities using crypto currencies. Well, people used to do that same thing before crypto currencies were invented. They used prepaid cards or gift cards to do those illegal activities. It is just that the media starts to exaggerate when it comes to crypto currencies.

People who have known Crypto well will not care about the news about the crypto crime. Most beginners will believe what the news media says, so we don't need to worry that the news will make a big change because beginners will not have the power to influence crypto.

Quote from: Rooster101 on July 27, 2019, 04:30:08 AM

Stricter regulations against this kind of crime should be created and enforce to eliminate them and I believe that there are already a group of countries planning to enforce it globally. Cybercriminals have been trying to evade authorities by using the internet and high technologies for so many years now even before the cryptocurrencies exists. The regulation should also focus on identifying possible illegal transactions that made through the exchanges and track them.

It's useless, crime will be difficult to eradicate because evil will never end. Adding strict regulation will only eliminate the basic goal of crypto, which is decentralization. Someone goes to crypto to get freedom from all the annoying rules. Even KYC rules are still many people who object, what if the rules are added to more stringently.

bernardos

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I hate how people are trying to make crypto users the bad guys with excuses like Bitcoin can be used for illegal activities and drug trafficking. Just because we have underground forums trading with Bitcoin or other crypto they are making it look like we are all enemies to economic prosperity.

But they forget all the bank crisis throughout the decades. They forget how drugs are smuggled into the US and paid with $ or the crisis with the Swiss Franc from not so long ago.

fiulpro

hero member

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Well we cannot stop it , infact that only thing we can try is to ourselves not support something like this because at last all change starts from us only.
You should understand that as this industry will grow , so will the crimes , that inevitable.
Countries banning bitcoins just because it is Aiding in criminal day to day lifestyle are just being ridiculous because I think cash is something that actually works way darker than bitcoins and all.
We just need good rules and good implementation .
Rest is just fine.

Darker45

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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.

The figure is really huge but I guess it would be much bigger if steps against cryptocurrency-related crimes are not done. Criminals within the crypto space are also multiplying. That is a given considering that there is also a fast growth of users and therefore wallets, wider adoption of cryptocurrency around the world, etc. The potential victims are also rising in numbers. Therefore, cryptocurrency individuals should also do their part to protect themselves from possible crypto crimes such as hacking.

There must really be an improvement. But it is obvious that crimes committed within the crypto space are harder to track, investigated, and solved than crimes done in the open. This will never be an excuse though.

Rooster101

sr. member

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Stricter regulations against this kind of crime should be created and enforce to eliminate them and I believe that there are already a group of countries planning to enforce it globally. Cybercriminals have been trying to evade authorities by using the internet and high technologies for so many years now even before the cryptocurrencies exists. The regulation should also focus on identifying possible illegal transactions that made through the exchanges and track them.

barbara44

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Quote from: Bitcoin Seller on July 25, 2019, 12:57:41 PM

There is a lot of criminals that deal with drugs and weapons, and they use cryptocurrencies, unfortunately. They find it very convenient and safe. Although a very low percentage really deals with crypto, it has become a problem. First of all, it is the problem for many honest people, who want to work with Bitcoin and altcoins, but their countries, being afraid of crimes, bans crypto.

Many of these crimes are being committed trough some of these exchanges that are well known, and I really wonder what the whole KYC they have been requesting for is all about, what exactly is the function if not for it to help such situations as this. When it comes to all these formalities, they forget decentralized system, but when it comes to taking money from scammer and fraudulent people, they make claim of anonymous system.

If we need to get it right I think there is need to purge the exchanges too because they are abetting some of these criminals in their platform also. Look at Binance that was hacked 41 million dollars, and I am sure it was moved from Binance to another CEX exchanges, but till now, they still could not trace it, so what is the work of KYC?

Barbut

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Quote from: Slow death on July 26, 2019, 10:59:45 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.

This is a big joke. Hyip/ponzi sites have been around for years, imagine how much money these scammers who have run hyip/ponzi sites for all these years must have stolen? and not! until years ago these sites hyip/ponzi preferred fiat. There are also many MLM sites that have stolen a lot of money from people, these are sites that people used Fiat. I saw many PTC sites steal a lot of money from people and they were sites that used Fiat. where was this korean government not to see all this and just talk about bitcoin?

We are still far away from Bernie Madoff! His Ponzi scheme was the biggest scheme ever.
I agree with you Slow Death, this is a big joke! I can`t believe people still fall on this BS! The majority is still ready to swallow everything served, without thinking. Sometimes when I read news about criminals and terrorists using crypto, I get the feeling like criminals didn`t exist before. And people are ready to believe in that!

Slow death

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Leading Crypto Sports Betting & Casino Platform

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 is a big joke. Hyip/ponzi sites have been around for years, imagine how much money these scammers who have run hyip/ponzi sites for all these years must have stolen? and not! until years ago these sites hyip/ponzi preferred fiat. There are also many MLM sites that have stolen a lot of money from people, these are sites that people used Fiat. I saw many PTC sites steal a lot of money from people and they were sites that used Fiat. where was this korean government not to see all this and just talk about bitcoin?

hahay

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Leading Crypto Sports Betting & Casino Platform

Quote from: adzino on July 26, 2019, 10:00:43 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.

Crimes existed from the very beginning. People steals fiat money everyday. Did we ever say that "no criminal activities will take place with crypto currencies"? Nope, we never said that. Now people may argue that they are anonymously doing all those illegal activities using crypto currencies. Well, people used to do that same thing before crypto currencies were invented. They used prepaid cards or gift cards to do those illegal activities. It is just that the media starts to exaggerate when it comes to crypto currencies.

Yes that is true, because cryptocurrency itself has become something negative for ordinary people so that when there are crimes involving crypto it will become big by many media. But, when mass adoption continues and there are many people who believe in cryptocurrency, I personally believe such crimes do not have a negative impact on cryptocurrency growth.

adzino

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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.

Crimes existed from the very beginning. People steals fiat money everyday. Did we ever say that "no criminal activities will take place with crypto currencies"? Nope, we never said that. Now people may argue that they are anonymously doing all those illegal activities using crypto currencies. Well, people used to do that same thing before crypto currencies were invented. They used prepaid cards or gift cards to do those illegal activities. It is just that the media starts to exaggerate when it comes to crypto currencies.

semobo

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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.

I think crimes are always happen in different times that we don't say it is only increases because of cryptocurrency development so that I will not accept these things in all the time but this may be controlled by someone that is the best thing for the Crypto uses.

SirLancelot

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Quote from: microsurfer on July 23, 2019, 08:37:28 AM

A lof of exchanges has been hacked. Thats all due to poor security or low intellect lvl

You think that record given is mainly because of exchanges that were hacked, I am not so sure, I think Binance for now still has the highest stolen fund from their exchange which is about 41 million dollars and I don’t think we have more than 10 exchanges that has been hacked, which means stolen funds through hacking is just little percentage of the scam figure.

To me, I feel where the major money is being stolen from is ICO market, these guys raise so much funds to the tune of millions of dollars and we have hundreds of ICOs that scammer as used to scam people which I believe this is what really constitute the major part of the figure. I just hope something can be done in this regards soon, especially now that we have IEO to curtail this to an extent.

enhu

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Quote from: Bitcoin Seller on July 25, 2019, 12:57:41 PM

Quote from: hatshepsut93 on July 23, 2019, 06:54:14 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.

You are looking at it wrong, crimes involving crypto have dramatically decreased. Back in early days, Silkroad and other darknet markets had a huge portion of Bitcoin's transactions, but in the recent years it was estimated that illegal activity makes up for only 1% of Bitcoin transactions. Similarly with exchange hacks - in 2014 the hack of Mt. Gox had shaken the whole Bitcoin ecosystem, but nowadays millions get stolen from exchanges and no one blinks an eye. So, criminal use is something that we shouldn't worry too much now, Bitcoin is quite big now for it to be just a small drop in the ocean.

There is a lot of criminals that deal with drugs and weapons, and they use cryptocurrencies, unfortunately. They find it very convenient and safe. Although a very low percentage really deals with crypto, it has become a problem. First of all, it is the problem for many honest people, who want to work with Bitcoin and altcoins, but their countries, being afraid of crimes, bans crypto.

Heard just today some criminals in our country are now using BTC in kidnap for ransom. Interesting things happen these days when finally those criminal that usually just work with fiat are now trusting how BTC works. Not totally happy with what they are doing, criminals are becoming technologically incline when it comes to getting away with their criminal deeds.

Topic: Crimes involving crypto have risen - page 21. (Read 7349 times)