Crimes involving crypto have risen - page 9.

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Quote from: doomistake on October 13, 2019, 12:09:00 AM

Quote from: yurekaa on October 11, 2019, 03:48:22 AM

this is the negative side cryptocurrency is often used for crime. we cannot avoid it. and if left unchecked will affect the market. the security system should be improved more. and maybe we do need regulations so that people who commit these crimes can be punished. so that if there are regulations it is possible that crime like this can be minimized.

For some additional important information that you should know, fiat is the most used currency in everything, you name it, and that includes crimes and other illegal activities even it's already being regulated by the Government. You see, the blame shouldn't be in cryptocurrency or fiat, it is us who made the choice, on where we are going to use our possessions.

Cryptocurrencies being use in illegal things will not affect the market, and the system that you were saying has nothing to do with it, blockchain is completely perfect that is why criminals preferred to use it than fiat.

You mean the anonymous being of crypto has taken advantage by these criminals? Actually this isn't a good excuse for them, because the exploitation of the system was generally driven towards crypto, which the one involved with this cannot be traced directly. Maybe there's somebody whose ignoring this issues arising. Illegal activities related to crypto needs to be eliminated, to lessen the occurrence and government should take action on this concerns.

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Quote from: yurekaa on October 11, 2019, 03:48:22 AM

this is the negative side cryptocurrency is often used for crime. we cannot avoid it. and if left unchecked will affect the market. the security system should be improved more. and maybe we do need regulations so that people who commit these crimes can be punished. so that if there are regulations it is possible that crime like this can be minimized.

For some additional important information that you should know, fiat is the most used currency in everything, you name it, and that includes crimes and other illegal activities even it's already being regulated by the Government. You see, the blame shouldn't be in cryptocurrency or fiat, it is us who made the choice, on where we are going to use our possessions.

Cryptocurrencies being use in illegal things will not affect the market, and the system that you were saying has nothing to do with it, blockchain is completely perfect that is why criminals preferred to use it than fiat.

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Quote from: Betwrong on October 12, 2019, 11:50:07 AM

Quote from: Tungsten-1 on October 06, 2019, 01:11:18 PM

~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.

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Quote from: Tungsten-1 on October 06, 2019, 01:11:18 PM

~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.

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Quote from: bryant.coleman on October 11, 2019, 11:22:47 PM

Quote from: asus09 on October 11, 2019, 10:04:13 PM

This yeas become most crimes involving crypto have risen because with many exchange market cases hacked, many coin stole on wallet by hacker. Low safety for an exchange market or other wallet address keep hold their coin assets make many investor look worry will safety invest or hold our asset in wallet, how to make bitcoin and altcoin balance safety and where have to hold?

No one should store their coins in exchange wallets for extended durations. And this is applicable to everyone, including the traders. If you want to trade, then deposit your coins in the exchange wallets, trade them and then withdraw the coins immediately after the trade is done. I would prefer the DEX sites, but in many cases DEX sites don't have the liquidity that the major exchanges provide to the users. Always keep in mind that there is not a single exchange that is 100% safe from the hackers. Binance was hacked earlier this year, and before that they were claiming that no hacker would be able to steal coins from their wallets.

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.

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Quote from: asus09 on October 11, 2019, 10:04:13 PM

This yeas become most crimes involving crypto have risen because with many exchange market cases hacked, many coin stole on wallet by hacker. Low safety for an exchange market or other wallet address keep hold their coin assets make many investor look worry will safety invest or hold our asset in wallet, how to make bitcoin and altcoin balance safety and where have to hold?

No one should store their coins in exchange wallets for extended durations. And this is applicable to everyone, including the traders. If you want to trade, then deposit your coins in the exchange wallets, trade them and then withdraw the coins immediately after the trade is done. I would prefer the DEX sites, but in many cases DEX sites don't have the liquidity that the major exchanges provide to the users. Always keep in mind that there is not a single exchange that is 100% safe from the hackers. Binance was hacked earlier this year, and before that they were claiming that no hacker would be able to steal coins from their wallets.

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Quote from: yurekaa on October 11, 2019, 03:48:22 AM

this is the negative side cryptocurrency is often used for crime. we cannot avoid it. and if left unchecked will affect the market. the security system should be improved more. and maybe we do need regulations so that people who commit these crimes can be punished. so that if there are regulations it is possible that crime like this can be minimized.

maybe it's one of the weaknesses of cryptocurrency because every user has their own freedom so it's easy to invite crimes involving cryptocurrency. there is no problem if there are special rules regarding the use of cryrocurrency, most importantly these rules are only to increase security and do not limit the freedom of users to conduct various transactions.

the use of transaction tools cannot be separated from things like this. even we know that out there too many who use dollars, or fiat as a means of illegal transactions or other crimes. many attempts were made by great people in this matter to continue to reduce the crime involved in crypto or not. however, the thing that needs to be understood is, the bad people out there will definitely try to do evil by utilizing crypto when they have the chance. moreover, everyone can use this, and the transactions are also anonymous.

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This yeas become most crimes involving crypto have risen because with many exchange market cases hacked, many coin stole on wallet by hacker. Low safety for an exchange market or other wallet address keep hold their coin assets make many investor look worry will safety invest or hold our asset in wallet, how to make bitcoin and altcoin balance safety and where have to hold?

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Quote from: djselery on October 11, 2019, 08:18:32 AM

Unfortunately, cryptocurrency is already used largely by scammers, terrorists, and money launders for a long time, and it is hard to find a solution for this issue, because crypto is decentralized and it is almost out of control. On the other side, fiat is also used for crimes and illegal purposes, and a long time before the creation of Bitcoin. So I believe its depending on the intentions of people not on the type of currencies used.

More and more of these cases and there should be rules globally to be able to provide rules there are institutions that control the existence of ICOs or IEOs and investment platforms because with these controls can prevent fraudulent actions that can indeed occur,specifically, each country oversees the development of cryptocurrency

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Quote from: djselery on October 11, 2019, 08:18:32 AM

Unfortunately, cryptocurrency is already used largely by scammers, terrorists, and money launders for a long time, and it is hard to find a solution for this issue, because crypto is decentralized and it is almost out of control. On the other side, fiat is also used for crimes and illegal purposes, and a long time before the creation of Bitcoin. So I believe its depending on the intentions of people not on the type of currencies used.

Who told you this? Ever since Bitcoin was created in 2009, there have been only a few isolated incidents linking the cryptocurrency with terrorism, and that too by individuals acting on their own. None of the organized groups have used Bitcoin for their terror funding purpose during the last 10 years, probably because there are better methods available for them. The same with money laundering as well. It is not that easy to launder money using BTC.

However, one domain in which Bitcoin has gained a lot of popularity is with online scams. Due to the anonymity it offers, a lot of scammers have been able to steal money from the users using Bitcoin. They are being helped by a deadly combination of greed, lack of knowledge about the industry and a lack of regulation in the market by the government agencies.

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Quote from: yurekaa on October 11, 2019, 03:48:22 AM

this is the negative side cryptocurrency is often used for crime. we cannot avoid it. and if left unchecked will affect the market. the security system should be improved more. and maybe we do need regulations so that people who commit these crimes can be punished. so that if there are regulations it is possible that crime like this can be minimized.

Point of correction. Cryptocurrency is not often used for crime for it creates new income with new job opportunities and crime has been in existence before the creation of cryptocurrency. However, the IEO system is enough to limit new project scam and the regulation system in the other hand wont bring the right solution for it can also be abuse/manipulate.

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Unfortunately, cryptocurrency is already used largely by scammers, terrorists, and money launders for a long time, and it is hard to find a solution for this issue, because crypto is decentralized and it is almost out of control. On the other side, fiat is also used for crimes and illegal purposes, and a long time before the creation of Bitcoin. So I believe its depending on the intentions of people not on the type of currencies used.

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this is the negative side cryptocurrency is often used for crime. we cannot avoid it. and if left unchecked will affect the market. the security system should be improved more. and maybe we do need regulations so that people who commit these crimes can be punished. so that if there are regulations it is possible that crime like this can be minimized.

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Quote from: Ayiranorea on October 10, 2019, 05:33:59 PM

by this time we can hear about lot of ponzi schemes striking the market as it is easy to get investors. Important reason, lot of new people get into cryptocurrency usage by this time than other time.

I'm not expecting they will have as many victims like in the past, people are already matured now and they have learn from their past mistakes.
Crimes have risen but the good thing is that the market is slowly getting regulated, before we can open an account in a exchange without KYC but now, most of them already requires us to comply especially those big exchanges.

ICO which is the root cause of most scam projects are already dead, we have IEO now which people are very confident investing using this platform and although it was not able to generate a big number of crowdsale but the success rate is good.

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Quote from: Vishnu.Reang on October 08, 2019, 02:28:08 AM

Quote from: hulla on October 07, 2019, 08:17:37 AM

I'm not surprised this is happening now because it something that usually replicate but I don't know if you guys notice that every time Bitcoin halving is approaching crypto crime rate always increase because that's the moment most crypto theft hunt for their prey.
My advise to you guys is to be more careful.

How the incidence of crypto crime (wallet hacks, ponzi investment schemes.etc) can be influenced by the block reward halving? I have to disagree with you on that. You can claim that the incidence increases when the exchange rates go up. But how can you link the block reward halving with a rise in crime rate? There is no logic behind such an argument.

I believe he have stated it in such a way, when block halving takes place there will be confirmed growth. This easily grabs the attention of all levels of people, by this time we can hear about lot of ponzi schemes striking the market as it is easy to get investors. Important reason, lot of new people get into cryptocurrency usage by this time than other time.

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Quote from: desticy on October 10, 2019, 04:05:18 PM

Quote from: Google+ on October 07, 2019, 07:58:15 AM

I think this crime uses cryptocurrency as money laundering because it is usually the result of theft and extortion using digital currencies as it happened some time ago there was a virus that spread quickly and had to give some bitcoin to be able to unlock the files that were affected by the virus.

Money laundering is a very old human practice, this type of crime exists in any country where there is at least some kind of crime plus a banking system or a casino, in other words, a resource through which there is a constant flow of money, along with clean money, dirty money also get into this stream. Cryptocurrency can not be called an ideal place for money laundering, because as it turned out, even Bitcoin is not completely anonymous.

Most of the crime has been done using cryptocurrency on these days, they can be anonymous by having transactions using it. But we cant deny that fiat is also being used to illegal activities. Illegal activities are done in any form where there is a money and as long as they can make a transaction. They will do anything to do it anonymously and crypto is one of the ways they have found. Crypto has been using in illegal activities even before, it is the digital money they use to make transactions in the blackmarket.

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Quote from: Google+ on October 07, 2019, 07:58:15 AM

I think this crime uses cryptocurrency as money laundering because it is usually the result of theft and extortion using digital currencies as it happened some time ago there was a virus that spread quickly and had to give some bitcoin to be able to unlock the files that were affected by the virus.

Money laundering is a very old human practice, this type of crime exists in any country where there is at least some kind of crime plus a banking system or a casino, in other words, a resource through which there is a constant flow of money, along with clean money, dirty money also get into this stream. Cryptocurrency can not be called an ideal place for money laundering, because as it turned out, even Bitcoin is not completely anonymous.

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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 will badly affect the price of bitcoin if these things persist. We know that a single news can affect the credibility of bitcoin. Maybe this was happening because there are a lot of people becoming interested to the opportunity that cryptocurrencies can give. One of these was its anonymity features and its ability to pump and dump. Also, Bitcoin was actually use for illegal transactions before in deepweb before it goes viral. Not surprisingly, it was involved with such activities.

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This issue is very argumental and disputed, Things could have happened but there is also some of the exaggerations behind this scene, I think many of us don't know how much money we are losing from our economy by several illegal acts and loundering so it doesn't mean that all fiat money is bad and it should be banned. so I admit that cryptocurrency is being involved with several types of crimes because not having any regulation, But I question is that every Fiat money is also involved with crimes that come from proper regulation practice so you can't blame only for cryptocurrency involving in crimes. Whatever the case is, Crime is a crime, which should be prohibited from any platform and create a good treatment regarding this issue.

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Quote from: nasipadang on October 08, 2019, 10:01:15 AM

That is why cryptocurrency is still considered a double-edged knife, where its anonymity makes us free to make transactions, while on the other hand anonymity can be used by bad people for criminal acts. Crime in the digital world is inseparable from digital currency, ransomware is one of the cases that had caused a ruckus. Cryptocurrency is very easy to use, payment or redemption via bitcoin is very easy to encounter in criminal acts, because bitcoin is not easy to track and how to use it is very easy, only here is bitcoin as a tool and we cannot blame cryptocurrency.

Yeah agree Bitcoin is hard to tracked. Many criminal who know about cryptocurrency taken advantage about it.
But now the exchange get some regulation in every country, they need verification for registration.
So i think we don't too anonymous in transactions.
I don't get how they criminal person can payout to fiat Huh

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