Its expected to happen. When adoption is increasing more and more technologically inclined individuals will keep finding ways to get money out of it. Only here in the forum, there are thousands of scams already happened in the last 10 years of BTC. You'll be counting more of it as soon as libra is up and running. Korean government wouldn't bother counting them.
Topic: Crimes involving crypto have risen - page 8. (Read 7349 times)
Its expected to happen. When adoption is increasing more and more technologically inclined individuals will keep finding ways to get money out of it. Only here in the forum, there are thousands of scams already happened in the last 10 years of BTC. You'll be counting more of it as soon as libra is up and running. Korean government wouldn't bother counting them.
crime has always increased not only in cryptocurrency but also in fiat money transactions. and I don't think we can avoid this because in this world there will always be bad people who want to get money quickly without working. what we need to do is improve our security system. and always be careful in every transaction. and in my opinion news like this does not affect the price of bitcoin. because this news may not necessarily be just an issue.
Crimes involving crypto have risen every year with hundred cases for every year with bitcoin and altcoin, last time SEC have announce with many ICO scam and many exchange hacked and why they reject bitcoin as legal payment, bitcoin need higher security to make investor save with bitcoin investment and for new altcoin give profitable for every investment kinds. Bitcoin have approval for every complaining by investor and give good solution for bitcoin at the future keep from crimes.
it is true that there have been many crimes involving crypto, criminal acts and terrorism. I think this system must be fixed so that investors continue to believe.But now, law enforcement has good knowledge of crypto transactions. They will able to trace via personal email account and the personal phone number. Indeed, Refer to this article. https://www.bbc.com/news/world-50073092
Crimes involving crypto have risen every year with hundred cases for every year with bitcoin and altcoin, last time SEC have announce with many ICO scam and many exchange hacked and why they reject bitcoin as legal payment, bitcoin need higher security to make investor save with bitcoin investment and for new altcoin give profitable for every investment kinds. Bitcoin have approval for every complaining by investor and give good solution for bitcoin at the future keep from crimes.
it is true that there have been many crimes involving crypto, criminal acts and terrorism. I think this system must be fixed so that investors continue to believe.
Crimes involving crypto have risen every year with hundred cases for every year with bitcoin and altcoin, last time SEC have announce with many ICO scam and many exchange hacked and why they reject bitcoin as legal payment, bitcoin need higher security to make investor save with bitcoin investment and for new altcoin give profitable for every investment kinds. Bitcoin have approval for every complaining by investor and give good solution for bitcoin at the future keep from crimes.
"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.
We should be aware the cryptocurrencies can be use in illegal transactions. Cryptocurrencies are now a mode of payment and it is a reality that there are people who use it in a bad way. 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.
Of course, the number of crimes involving cryptocurrency will increase because more people are joining the cryptocurrency community and the more people join the cryptocurrency the more crime you are going to get. People use cryptocurrency as like fiat money these days. there is nothing surprising about this report.
"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.
We should be aware the cryptocurrencies can be use in illegal transactions. Cryptocurrencies are now a mode of payment and it is a reality that there are people who use it in a bad way. 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.
Of course, the number of crimes involving cryptocurrency will increase because more people are joining the cryptocurrency community and the more people join the cryptocurrency the more crime you are going to get. People use cryptocurrency as like fiat money these days. there is nothing surprising about this report.
"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.
We should be aware the cryptocurrencies can be use in illegal transactions. Cryptocurrencies are now a mode of payment and it is a reality that there are people who use it in a bad way. 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.
"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.
We should be aware the cryptocurrencies can be use in illegal transactions. Cryptocurrencies are now a mode of payment and it is a reality that there are people who use it in a bad way. 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.
last years many exchange have stole their bitcoin and altcoin assets because hacker look easy to the weakness of bitcoin
I think you have a misunderstand here about the bitcoin, there is no weakness in bitcoin, if these exchanges were hacked it is because of the security weakness of those exchanges and it has nothing to do with bitcoin and its protocol. Running an exchange is easy but to take care of the security you need to have a proper system and we have not seen that and hence we see many hacks in exchanges.Well... I would agree with you there. There can always be excuses. But if there is some weakness with the Bitcoin algorithm, then it should be applicable to the hundreds of exchanges spread out across the globe. Why only some of the exchanges are hacked, and the others are safe? The answer is that in most of the cases, the hackers gained access as a result of the carelessness of the exchange owners. And in some cases, it was later proved that inside jobs were behind the robbery. To be fair, the digital nature of Bitcoin has made it easier to track the stolen coins. It would have been a different story altogether, if physical cash was stolen from a vault.
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. last years many exchange have stole their bitcoin and altcoin assets because hacker look easy to the weakness of bitcoin
I think you have a misunderstand here about the bitcoin, there is no weakness in bitcoin, if these exchanges were hacked it is because of the security weakness of those exchanges and it has nothing to do with bitcoin and its protocol. Running an exchange is easy but to take care of the security you need to have a proper system and we have not seen that and hence we see many hacks in exchanges. 
~The reason why people rather criminals like to deal in crypto currencies or bitcoin is that they are anonymous which means it is not possible or too difficult to trace out the transactions made with crypto coins. Also, we cannot blame digital currencies for this because there are many people who use technology in good way and then there are those who commit awful acts of theft and robbery. Bitcoin and altcoins are the future.
Criminals still use Bitcoin only because of their ignorance. It's enough to read the news for the past couple of years to see how many of them were caught exactly because they were too confident that they were impossible to catch when using Tor and Bitcoin.
It is impossible to link a Bitcoin address to an individual, unless there are transactions to exchanges (where KYC is enabled) or there is a linkage to fiat currency. In 90% of the cases, the criminals were caught when they were trying to cash out their booty. Nowadays the conmen are not stupid enough to spend the stolen coins in exchanges and most of them go for mixers. But recently I heard that some of the stolen loot from the PLUS token scam was laundered using exchanges such as Huobi and OKEx.
As long as they stay away from fiat and exchanges, it is still very much impossible to catch these criminals. As I said, the problem occurs when they get impatient and tries to cash out.
But they are going to cash out sooner or later, aren't they? They also may try to buy something valuable, like a big house, with BTC and get caught because of that.
But actually I think there are more options of catching criminals using Bitcoin apart from those you mentioned. If it were so easy (just catching those who tried to cash out on an exchange with KYC), why would Europol’s European Cybercrime Centre sign an agreement with New York-Based Chainalysis Inc., who, by their own words, "aims to fight cyber crime by tracking digital identities linked to digital currencies"?
Source:
https://www.reuters.com/article/us-cyber-chainalysis-idUSKCN0VR27H
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.
Weakness of bitcoin still every where and hacker could take the moment to stole many bitcoin and altcoin assets from investor and exchange, last years many exchange have stole their bitcoin and altcoin assets because hacker look easy to the weakness of bitcoin, last yearn almost crime in crypto have risen with many project are scammer with lower price and with many cases the owner have gone and never listed their coin on exchange market, we need change for next year crime in crypto have gone.
"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.
Criminal activity through the use of digital currency is inevitable. There is saying money is the root of evil and it is true. I am sure that there are now many people who using digital currency to make illegal transactions.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.
Cryptocurrency's anonymity is an opportunity for scammers to fool people. It's something that we couldn't control but we can get rid of. I have been scammed before but I have learned from that experience. I have learned to be observant and skeptical in choosing projects and coins. It's just important that we'll do a series of investigation before joining any project or before investing in new altcoins.
That is the very thing we should avoid, to put our funds or assets in exchange and just leave it there, especially if we don't know the capacity of that exchange, or how credible they are, so for better safety, I agree with you we should withdraw our funds immediately after trading or we don't want to trade anymore.
There are many cases from my friend wherein they are holding their funds to a certain exchange and after a month, it's gone and they can't recover anymore.
There are many cases from my friend wherein they are holding their funds to a certain exchange and after a month, it's gone and they can't recover anymore.
Well.. I am saying this out of my own experience. I have lost my coins after the exchanges got hacked. I used to store my Litecoins in Wex.nz, since I didn't had the desktop wallet installed in my laptop for LTC. And when Wex.nz went down, those coins vanished. Now there is no way to recover them, and I lost around $500 worth of coins as a result of that hack.
And when Cryptopia went down, I lost Cryptopia Loss Marker(CLM) tokens worth around $50. Fortunately, I had withdrawn my BTC from that exchange, when they had enabled them for a brief duration. Else I would have lost another $1,500 worth of coins. But many of the users failed to make use of this window and they lost whatever they stored in Cryptopia.
"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.
We should be aware the cryptocurrencies can be use in illegal transactions. Cryptocurrencies are now a mode of payment and it is a reality that there are people who use it in a bad way. 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.
There are now many issues about the involvement of ryptocurrencies in crimes related. I think it is one of the factors why some countries are not regulating it because of its disadvantages.
Your statement is very confusing. How the lack of regulation is going to bring down the crime rate? Although I am not a big supporter of regulation in the world of cryptocurrency, I am not very comfortable with all these scams and ponzis. In order to reduce them, some sort of government involvement is needed. For more than two years, scam ICOs have been causing huge losses to those who are unfortunate to invest in them.
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