Topic: Crypto Crime is getting Worse, what do we do? - page 14. (Read 13829 times)
The only thing to keep scam and increasing crime in crypto in check is proper regulations. If there are bodies to actually see to some key areas like ICOs and operations of exchanges, I believe the crime will reduce.
This happens very often, especially lately, because there are a lot of cheaters on the market who are now starting to do very bad things and people just stopped believing in the world of cryptocurrency. Today it is very well felt.
I really hope people don't stop believing in crypto. I do think there will always be bad actors but having security firms like ciphertrace the one mentioned by the report could help catch these sort of actions before they play out. It might also trigger a stronger security that is necessary for crypto companies.
This happens very often, especially lately, because there are a lot of cheaters on the market who are now starting to do very bad things and people just stopped believing in the world of cryptocurrency. Today it is very well felt.
I think one of the options which we can do is not to keep a large amount of funds in centralized exchange. We know that centralized exchanges are more vulnerable to hacking than decentralized exchanges even though the centralized exchange is popular and has a high level of security.
Hacking exchanges is the most profitable way to enrich, as you see even top exchanges keep getting hacked, so stay away from centralized exchanges.
Is there anything we can do when there's no measure in place which will force people to be accountable. We are in a trustless society and everyone must be careful not to fall into antics of scammers because as for now, the system can't protect you from such.
https://news.yahoo.com/cryptocurrency-thefts-fraud-hit-1-211446327.html
In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.
What can we do to help stop these from happening and getting worse?
In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.
What can we do to help stop these from happening and getting worse?
Hacking in crypto can be likened to robbery of banks. If its not possible for banks to stop robbery then I don't think its possible for exchanges to stop hackers from stealing funds. Exchanges just have to explore more ways to secure fund but the truth is that hackers can't be stopped.
The crypto world now where involved a big money and almost absent any legal regulatory is a paradise for different scamers and criminals. Most often they have possibility to make their crimes easy because of victims carefree and reckless behavior. You have to remember nobody protects you but yourself. You should be very careful to protect your funds.
As crypto enthusiasts, I believe it is our duty to inform and acquaint others especially for those people that are new on the crypto industry on the pitfalls
and dangers of being complacent. We should share ideas and techniques that could help us avoid being a victim of such crimes and strive altogether to
become more strong and coherent community to fight those threats to our security.
While I agree that we have a responsibility to spread our knowledge and help newbies to understand the risks inherent to this market the truth is that most of those newbies only begin to look for that information after they got scammed and by then it is too late, then they blame others for their losses when they are the ones that invested in something they did not really understand and did not took the necessary precautions to avoid losing their money. and dangers of being complacent. We should share ideas and techniques that could help us avoid being a victim of such crimes and strive altogether to
become more strong and coherent community to fight those threats to our security.
https://news.yahoo.com/cryptocurrency-thefts-fraud-hit-1-211446327.html
In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.
What can we do to help stop these from happening and getting worse?
In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.
What can we do to help stop these from happening and getting worse?
What we can do is practice better security by using 2FA on exchanges, removing funds from exchanges, using hardware wallets, using antivirus programs, and avoiding phishing scams. Hardware wallets are especially important for those with significant amounts of cryptocurrencies.
What can we do? We can just partially protect ourselves and hope that the big cryptocurrency players will find solutions to this problem.
Cryptocurrency players, who are the crypto players? We are, just that some are bigger than us and if we think of leaving it in the hands of big crypto players, we will remain in this situation for long because some of these players are the ones behind these crimes we are talking about.They are the real perpetrators, because they have the money to create scam ICOS, they have the money to manipulate the market and take from the poor by panicking them. SO we don’t need players, we need ourselves and genuine cryptocurrency users for the ICO space to be clean, imagine that big companies that are well known comes up with their ICO, people will shift attention from these little unknown ones to them.
We need to write a petition to integrate the KYC procedure for developers, because otherwise nothing good will just work out. You understand that if people wanted they would already take responsibility for it.
We will not be able to change this situation at the moment. It is important to understand that any exchange can deceive its community. The best option is to popularize the founders of all exchanges and then we will not have scams. But the problem with hacking wallets will remain as a lot of inattentive people come across fake sites.
Yes you are right, it is getting worst every new day.. As far as i know the cryptocurrency scams caused more than 1 billion of dollar in last 3 years and this is something terrible because we all could get scam in this world and this is making big lack of confidence. We need to be very careful, unfortunately we need to stop invest to an ICO projects and we should need to only use the best exchanges..
What can we do? We can just partially protect ourselves and hope that the big cryptocurrency players will find solutions to this problem.
And that's just because it happened to crypto doesn't mean that it not happening elsewhere outside crypto, scammers are large in numbers in some people pretend to be real for sometimes so as to get you closer and then dupe you, we'll just need a careful jersey to put on to avoid being a victim.
Its true that scammers happen in any market but crypto market still new market. If many scammers in crypto, people will think cryptocurrency is a scam market and not a legit investment. I think government should protect their citizen investment by issuing regulation to prevent more scammers
And that's just because it happened to crypto doesn't mean that it not happening elsewhere outside crypto, scammers are large in numbers in some people pretend to be real for sometimes so as to get you closer and then dupe you, we'll just need a careful jersey to put on to avoid being a victim.
This is really frustrating. In think the best way we can contribute in tackling this issue is by making sure large amount of your assets are offline or in our private wallets. We should stop trusting exchanges to secure our funds, let's assume security of that, I believe this will reduce unwarranted losses.
As crypto enthusiasts, I believe it is our duty to inform and acquaint others especially for those people that are new on the crypto industry on the pitfalls and dangers of being complacent. We should share ideas and techniques that could help us avoid being a victim of such crimes and strive altogether to become more strong and coherent community to fight those threats to our security.
We should not hold our funds on exchanges just when we are trading.
Hardware wallets are the safest place to store our holding.
We should be careful with phishing sites not to be trapped by them.
Hardware wallets are the safest place to store our holding.
We should be careful with phishing sites not to be trapped by them.
Anonymity of crypto is proving to be a major problem in addressing the lots of crypto related crimes since you can hardly trace transactions on the blockchain to a real person.
Transactions can be traced but its hard to know the real owner of the wallet, maybe this is why KYC is invented. The crime everyday is increasing, and this market is also a place to commit a crime, it can be prevented if there’s a regulating body and have a good system to keep this market better.So you're in support of regulating the markets? Crimes do happen on regulated markets as well and regulating doesn't mean there will be no unregulated exchanges for scammers to use.
People should prevent the crimes from happening by ignoring shady projects . Greed and laziness is what helps scammers not KYC or the government.
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