Crimes involving crypto have risen - page 6.

HarmonyA

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Quote from: Paulinerims on July 22, 2019, 05:39:46 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 major reason why prospective investors a d government are skeptical about cryptocurrency revolutionary attributes.
Every positive ideology is attacked by fraudsters, even fiat currency is not exempted from this attacks.
As cryptocurrency is trying to prove itself, so are attackers working to deter people from trying the technology.
Crimes involving cryptocurrency should be considered a major threat to the world financial system.

bobitza

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Currently, fraudulent crimes involving cryptocurrency are on the rise. Cybercriminals are developing new and more sophisticated ways to upset money flow. In 2019, the total amount of damage related to cryptocurrency scams and theft has risen to $ 4.4 billion.You are investing in digital money beware of scams. Protect your money with solid Bitcoin wallets.

Kimonoe

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Quote from: drlukacs on December 17, 2019, 11:47:00 PM

Quote from: Paulinerims on July 22, 2019, 05:39:46 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.

But this is part of the crypto ecosystem. There are many types of scammers and bad people here. Here people often use coins to launder money and their purpose is not to pay too much taxes. and so having more criminals is not worth mentioning. We should be aware of the nature of the market and should have thoughts to protect our assets best.

besides that, crimes in the crypto world are done to eliminate traces of stolen money so that they are not tracked. on the other hand because of the lack of strong laws governing, the criminals seemed to be free with many scam projects that could harm the lives of the crypto world

Assface16678

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Quote from: Sahyadri on December 18, 2019, 02:04:21 AM

Quote from: Finestream on December 17, 2019, 11:39:09 PM

Quote from: drachman on December 17, 2019, 11:32:04 PM

Scammers are taking advantage of digital technologies and not only of cryptocurrencies,.........

They aren't, they are taking advantage on people who does not have enough knowledge and does not know how to manage the risk in investing.
It's correct that technology like blockchain in the crypto has a potential in the future, but when investing, the risk is always here so we need to be careful.

Not all investors lose money, only the weak ones because they don't choose the right investment and they easily panic.

Crimes dont involve loss because of trading. Trading loss is more than legitimate. No one manipulated or scammed you in that case.

These crimes include hacking of exchanges, hacking wallets by making people install viruses, use of phishing websites to get the pvt keys of people.

People are not really comfortable using wallets and exchanges as they are a bit complex. For example, myetherwallet, it is really hard to operate and hackers took advantage of that to hack people. This can only be solved if these wallets become easy to operate or if people get proper education and take proper precaution.

One of the good invention today is the use of blockchain technology because it creates a different coins with has different values, and with the use of cryptocurrency it converts the coin into desired coins what we want, as a tremendous value of the cryptocurrency many people today are using it and tries to invest all of their money on it, but in online world, there is no safe password today because even the hackers are going more intelligently too, and they trying to steal a large amount of money this case has a lot of recorded issue like this, and this is a massive impact about the security of the cryptocurrency and also the wallets they are using, but still this is not the end of the crimes in cryptocurrency. Most likely crimes in crypto commonly happen to the newbies or to the person who is always starting in the use of crypto because they don't have any idea they are prone to the person that is pretending will help them, but they want to do some crime.

go1lo2va3

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I think the problem is highly overrated. Don't get me wrong crimes in crypto is a bad thing and many people lose their money.
However people are talking about it like we don't lose money without crypto/digital currency involved.
I mean we have no statistics of stolen money on streets, but believe me the numbers would scare you even more.
I don't really see the difference between bithumb's hack and "good old" bank robbery

Sahyadri

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Quote from: Finestream on December 17, 2019, 11:39:09 PM

Quote from: drachman on December 17, 2019, 11:32:04 PM

Scammers are taking advantage of digital technologies and not only of cryptocurrencies,.........

They aren't, they are taking advantage on people who does not have enough knowledge and does not know how to manage the risk in investing.
It's correct that technology like blockchain in the crypto has a potential in the future, but when investing, the risk is always here so we need to be careful.

Not all investors lose money, only the weak ones because they don't choose the right investment and they easily panic.

Crimes dont involve loss because of trading. Trading loss is more than legitimate. No one manipulated or scammed you in that case.

These crimes include hacking of exchanges, hacking wallets by making people install viruses, use of phishing websites to get the pvt keys of people.

People are not really comfortable using wallets and exchanges as they are a bit complex. For example, myetherwallet, it is really hard to operate and hackers took advantage of that to hack people. This can only be solved if these wallets become easy to operate or if people get proper education and take proper precaution.

drlukacs

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Quote from: Paulinerims on July 22, 2019, 05:39:46 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.

But this is part of the crypto ecosystem. There are many types of scammers and bad people here. Here people often use coins to launder money and their purpose is not to pay too much taxes. and so having more criminals is not worth mentioning. We should be aware of the nature of the market and should have thoughts to protect our assets best.

Finestream

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Quote from: drachman on December 17, 2019, 11:32:04 PM

Scammers are taking advantage of digital technologies and not only of cryptocurrencies,.........

They aren't, they are taking advantage on people who does not have enough knowledge and does not know how to manage the risk in investing.
It's correct that technology like blockchain in the crypto has a potential in the future, but when investing, the risk is always here so we need to be careful.

Not all investors lose money, only the weak ones because they don't choose the right investment and they easily panic.

drachman

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Quote from: crisanto01 on December 02, 2019, 12:11:19 PM

Quote from: Kevondo on December 02, 2019, 11:39:10 AM

Quote from: Dr.Osh on November 30, 2019, 08:04:10 AM

Quote from: Karmakid on November 29, 2019, 08:35:13 PM

We should get used to this type of happening because even the fiat currencies are involved with crimes. No one can stop the criminals on how they do the transaction because they are getting smarter everyday. Cryptocurrencies have this unique feature where most of the cryptocurrencies available in the market has an anonymity feature so it is not a surprise to see topics like this one.

In fact, even when you use Fiat, it will be used as a tool for crime. do you know why? that's because money is valuable, especially when bitcoin has a large enough value or another cryptocurrency. however, criminals will target something of value, such as gold and other investment tools. Another reason why crypto is targeted as a prime target is that there are many interesting things in crypto, such as anonymous transactions, mixers, and others.

That makes a lot of sense. Criminals will always go after things that really hold some value and with bitcoin, the good thing is the worth keeps on increasing with time so it naturally makes the number one preference of evil minds. To be very honest, these are just smarter than others. Hacking exchanges and snatching bitcoin is not a kid’s game but they utilize all the talent in such hurting activities.

Criminals have taken this opportunity for them to be able to scam people easily as they know that crypto is booming so they used this too, I got caught up with this too, was victim but just a small amount as I just tried it since I was newbie that time, really don't have any idea at all how am I going to do research until I learned so many things, and now cannot be a victim of scam anymore.

Scammers are taking advantage of digital technologies and not only of cryptocurrencies, in the past they needed to be right in front of you to try to scam you, but now a scammer can be a the other side of the world and if you lose your money to them then most likely there is nothing that you can do in order to try to bring that person to justice, but they are not doing this only with bitcoin they are abusing credit cards and all forms of digital payments, the difference is that with those other payments you have a way to get your money back but not in bitcoin.

crisanto01

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Quote from: Kevondo on December 02, 2019, 11:39:10 AM

Quote from: Dr.Osh on November 30, 2019, 08:04:10 AM

Quote from: Karmakid on November 29, 2019, 08:35:13 PM

We should get used to this type of happening because even the fiat currencies are involved with crimes. No one can stop the criminals on how they do the transaction because they are getting smarter everyday. Cryptocurrencies have this unique feature where most of the cryptocurrencies available in the market has an anonymity feature so it is not a surprise to see topics like this one.

In fact, even when you use Fiat, it will be used as a tool for crime. do you know why? that's because money is valuable, especially when bitcoin has a large enough value or another cryptocurrency. however, criminals will target something of value, such as gold and other investment tools. Another reason why crypto is targeted as a prime target is that there are many interesting things in crypto, such as anonymous transactions, mixers, and others.

That makes a lot of sense. Criminals will always go after things that really hold some value and with bitcoin, the good thing is the worth keeps on increasing with time so it naturally makes the number one preference of evil minds. To be very honest, these are just smarter than others. Hacking exchanges and snatching bitcoin is not a kid’s game but they utilize all the talent in such hurting activities.

Criminals have taken this opportunity for them to be able to scam people easily as they know that crypto is booming so they used this too, I got caught up with this too, was victim but just a small amount as I just tried it since I was newbie that time, really don't have any idea at all how am I going to do research until I learned so many things, and now cannot be a victim of scam anymore.

Kevondo

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Quote from: Dr.Osh on November 30, 2019, 08:04:10 AM

Quote from: Karmakid on November 29, 2019, 08:35:13 PM

We should get used to this type of happening because even the fiat currencies are involved with crimes. No one can stop the criminals on how they do the transaction because they are getting smarter everyday. Cryptocurrencies have this unique feature where most of the cryptocurrencies available in the market has an anonymity feature so it is not a surprise to see topics like this one.

In fact, even when you use Fiat, it will be used as a tool for crime. do you know why? that's because money is valuable, especially when bitcoin has a large enough value or another cryptocurrency. however, criminals will target something of value, such as gold and other investment tools. Another reason why crypto is targeted as a prime target is that there are many interesting things in crypto, such as anonymous transactions, mixers, and others.

That makes a lot of sense. Criminals will always go after things that really hold some value and with bitcoin, the good thing is the worth keeps on increasing with time so it naturally makes the number one preference of evil minds. To be very honest, these are just smarter than others. Hacking exchanges and snatching bitcoin is not a kid’s game but they utilize all the talent in such hurting activities.

NewRanger

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Quote from: asus09 on November 30, 2019, 01:32:23 PM

Quote from: Dr.Osh on November 30, 2019, 08:04:10 AM

Quote from: Karmakid on November 29, 2019, 08:35:13 PM

We should get used to this type of happening because even the fiat currencies are involved with crimes. No one can stop the criminals on how they do the transaction because they are getting smarter everyday. Cryptocurrencies have this unique feature where most of the cryptocurrencies available in the market has an anonymity feature so it is not a surprise to see topics like this one.

In fact, even when you use Fiat, it will be used as a tool for crime. do you know why? that's because money is valuable, especially when bitcoin has a large enough value or another cryptocurrency. however, criminals will target something of value, such as gold and other investment tools. Another reason why crypto is targeted as a prime target is that there are many interesting things in crypto, such as anonymous transactions, mixers, and others.

Many cases with crypto like exchange hacked and many investor lost their money by investing with scam ICO and IEO site, after bitcoin become popular with higher price almost crime cases we found every day, many hacker try to get much benefit with make transaction by bitcoin and altcoin to keep safety their data because always hidden information with bitcoin and altcoin asets.

unresponsibility people now occur in market since bitcoin price and altcoin pice increase significantly. Not only hackers but exchanges owner suddenly be bad man when they hold alot of cryptocurrency assetd that worth Millions dollar. It will not stop , in future we will see same case if there is no regulation to exchange.

TastyChillySauce00

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Quote from: silversurfer1958 on November 30, 2019, 06:25:26 AM

Quote from: Paulinerims on July 22, 2019, 05:39:46 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.

wow, this is really an unbelievable number. I think this is because our crypto market is a place that lacks the security and assurance of the law. That's why hackers often want to attack big exchanges to make lots of money and nobody knows when the wallet address is owned. Our crypto market default is risky at the beginning, so we can't avoid this.

Criminality happens everywhere and not just involving bitcoin it just happen that bitcoin is advanced in term of remmitances and could send money in an instant. These criminals could actually send money like using WU and still get over with it because no one know what they are transacting and what they know is the person just sending money to someone else anyway. Nowaday there's the implementation of KYC with purpose to fight scam and money laundering and I think it works quite well but can't entirely eliminate the problem because bitcoin is p2p and people could just do an individual transaction but I guess in the future we'll see some kind of regulation again.

Rana590

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As bitcoin is decentralized, crimes are rising day by day. Government can't track the transaction for decentralization. On black market, the popularity of bitcoin is increasing.

asus09

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Quote from: Dr.Osh on November 30, 2019, 08:04:10 AM

Quote from: Karmakid on November 29, 2019, 08:35:13 PM

We should get used to this type of happening because even the fiat currencies are involved with crimes. No one can stop the criminals on how they do the transaction because they are getting smarter everyday. Cryptocurrencies have this unique feature where most of the cryptocurrencies available in the market has an anonymity feature so it is not a surprise to see topics like this one.

In fact, even when you use Fiat, it will be used as a tool for crime. do you know why? that's because money is valuable, especially when bitcoin has a large enough value or another cryptocurrency. however, criminals will target something of value, such as gold and other investment tools. Another reason why crypto is targeted as a prime target is that there are many interesting things in crypto, such as anonymous transactions, mixers, and others.

Many cases with crypto like exchange hacked and many investor lost their money by investing with scam ICO and IEO site, after bitcoin become popular with higher price almost crime cases we found every day, many hacker try to get much benefit with make transaction by bitcoin and altcoin to keep safety their data because always hidden information with bitcoin and altcoin asets.

Dr.Osh

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Quote from: Karmakid on November 29, 2019, 08:35:13 PM

We should get used to this type of happening because even the fiat currencies are involved with crimes. No one can stop the criminals on how they do the transaction because they are getting smarter everyday. Cryptocurrencies have this unique feature where most of the cryptocurrencies available in the market has an anonymity feature so it is not a surprise to see topics like this one.

In fact, even when you use Fiat, it will be used as a tool for crime. do you know why? that's because money is valuable, especially when bitcoin has a large enough value or another cryptocurrency. however, criminals will target something of value, such as gold and other investment tools. Another reason why crypto is targeted as a prime target is that there are many interesting things in crypto, such as anonymous transactions, mixers, and others.

DevilSlayer

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Quote from: X-ray on November 29, 2019, 07:03:07 PM

Quote from: GreenStox on October 14, 2019, 09:55:32 AM

Quote from: Aying on October 14, 2019, 08:03:58 AM

Hackers and Illegal activities are still improving day by day, how long it will last? It is a long process to done this.. we cant take an action for now if no one will help us to fight it. all we can do is not to risk all of our funds on trading. as we not also control the market. as long as we have some knowledge to avoid it. lets do it. so we cant have big losses.

indeed, there are many crimes that use cryptocurrency as the safest digital currency for extortion because it is not easy to trace and can make the perpetrators of crime free, this is the dark side of cryptocurrency that should not be used for crime.

Truth is, most of the time the extortion for example that involves using malware to lock up the datas that currently happening and most of them uses bitcoin to extort ended up caught by the police. It's not that hard actually to track people who uses bitcoin. The government could just ask some exchange regarding the information of the person and there's even website that will tell you which exchange they are sending the money to by just looking at their address. it's a lot easier than tracking cash money.

There are crook people who using the anonymity of the bitcoin as advantage. They know that the government cannot trace easily their illegal transactions. The mass adoption is happening but there is a bad side of it and it is the increasing of crimes related problem with cryptocurrencies.

silversurfer1958

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Quote from: Paulinerims on July 22, 2019, 05:39:46 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.

wow, this is really an unbelievable number. I think this is because our crypto market is a place that lacks the security and assurance of the law. That's why hackers often want to attack big exchanges to make lots of money and nobody knows when the wallet address is owned. Our crypto market default is risky at the beginning, so we can't avoid this.

Savemore

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Quote from: romero121 on November 29, 2019, 04:55:44 PM

This is where regulation of the cryptocurrency usage gains importance. If the governments have regulated the usage people get more awareness on usage. This will eliminate the scammers who come to trap the newcomers in the name of serving the people who are new to the cryptocurrency network.

When we take into consideration about different crimes that have taken place, surely there will be at least a small mistake being done by the user. This will be used by the scammers, hackers whose only goal is to take away the funds targeted. As of now there is decrease in the number of crimes happening related to cryptocurrency as people are more responsible in handling funds.

The regulations of the government is important in terms of crime related problems. That's why in the senate legalization and regulations are both important concerned and they studying it very carefully before they pass it in the senate. Money laundering is really the reason why regulations are important concerns.

Karmakid

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We should get used to this type of happening because even the fiat currencies are involved with crimes. No one can stop the criminals on how they do the transaction because they are getting smarter everyday. Cryptocurrencies have this unique feature where most of the cryptocurrencies available in the market has an anonymity feature so it is not a surprise to see topics like this one.

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