Crypto Criminals got balls because no COP or law to tackle them

BlackFor3st

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

There is still justice in crypto space especially if the hacker will be traced, he will surely be sentenced and jailed. But if the hackers will be able to hide all of it's footprints after the attack then no one can pursue him.

But it's not easy to be a hacker, as there are different type of hackers also. Black hat for criminal activities and white hat that test the security of your website or fight the black hat hackers attempt.

fuer44

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

of course, all countries in the world also have their own laws and rules. there is customary law, there is also state law. everything is arranged so that its citizens can live with discipline and obey the rules. Likewise with crypto, without any restrictions or legal restrictions, there are no rules and verdicts for violators, then life in the crypto world will still be like this forever. new projects, scams, and theft. if there is a cyber team that oversees this industry, I think every crime or unnatural activity that occurs in the crypto world, can definitely be traced.

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Quote from: retnoanjani on November 18, 2019, 06:31:11 PM

We must realize that the government must have warned that cryptocurrency is a high-risk investment. Each loss is the responsibility of each, is not most of it also anonymous?

Every loss is any market is owned by the investor and no government will share those losses Tongue

, the government will regulate to collect tax because they need the profit you make and not because they care for your investment to be secure, there are not much truly anonymous coins if that is what you are tell here.

Quote from: retnoanjani on November 18, 2019, 06:31:11 PM

The police and the authorities do not remain silent, they will move if the evidence is strong enough. Unfortunately, most fraudsters have tricks that are strong enough to be difficult to uncover.

If the transaction is done through bitcoin or any blockchain based coin then they can be traced and will be caught.

retnoanjani

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Quote from: Kiefner on November 18, 2019, 06:09:45 PM

That's right. There are no police in crypto and no one can protect you. That is why everyone says that everyone should observe security measures and protect their funds on their own. After all, no one will help you if you encounter fraud.

Although many crimes related to cryptocurrency that have not been revealed, but the police can catch some of them, this is proof.

Quote from: DaMut on October 12, 2019, 06:59:57 AM

https://cointelegraph.com/news/police-arrest-alleged-india-head-of-now-defunct-bitconnect-scam
https://cointelegraph.com/news/australian-federal-court-imposes-travel-ban-fund-freeze-on-bitconnect-promoter
the law is not able to arrest everybody because they need evidence before arresting the suspects. As I said before, we have a law but because of technology some scammers are able to cover up their identity thus leading them to freedom. The government should get away from us but the law should stay with us because it could protect us from the criminals.

We must realize that the government must have warned that cryptocurrency is a high-risk investment. Each loss is the responsibility of each, is not most of it also anonymous? The police and the authorities do not remain silent, they will move if the evidence is strong enough. Unfortunately, most fraudsters have tricks that are strong enough to be difficult to uncover.

Lagduf

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Quote from: huu78 on November 18, 2019, 05:57:12 PM

There will be no fraud if people are wiser than what they will take logically. Most people are tempted over the lure of the huge when the reply in logic is not possible. And they took it and it came to pass the deception, which yes they themselves why no more wisely transact in this digital world. They made a post and were outraged at the forum because it has been on the scam by an obscure person.

You can't just outright blame people for being scammed because they have flawed logic I mean that's such an obvious answer everyone know that's the main reason but we should aswell help them to not being scammed even though that's hard and some people might be dumb enough to just go all in to a dumb project existed. That's the exact reason why there are law and regulation and the same thing actually could work if can be implemented into the ICO and IEO world however that'd take a lot of effort considering some scammers also hiding behind shadow luring stupid people to do stupid things.

Kiefner

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That's right. There are no police in crypto and no one can protect you. That is why everyone says that everyone should observe security measures and protect their funds on their own. After all, no one will help you if you encounter fraud.

huu78

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There will be no fraud if people are wiser than what they will take logically. Most people are tempted over the lure of the huge when the reply in logic is not possible. And they took it and it came to pass the deception, which yes they themselves why no more wisely transact in this digital world. They made a post and were outraged at the forum because it has been on the scam by an obscure person.

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Quote from: Patrix_1 on November 18, 2019, 01:38:52 PM

The problem is that the majority of crypto community is still against any kind of regulations. If people are not ready to sacrifice anonymity, than we can expect such things to happen any time, because nobody is really after scammers.

Kinda tough decision considering that people want decentralization but cant take care of their own problem of not being scammed either. Even if we dont want to sacrifice anonymity we’ve lost it anyway due to the KYC implementation in every exchange so if the government make a regulation what will be the differences regarding our privacy anyway? Its the same.

sockpuppet1911

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

What an earth are you even talking about? One of the reason for regulations is that it's for making scamming harder by default for criminals.
Because lack of regulations they can't tackle these problems faster, but of course they will investigate some of them.
Regulations are just coming behind, this is state of the art new tech we are dealing with and the law can't keep up.

Quote

but what do you think will happen if there is no cops, police, courts in real life?

I am not sure where you are going with this. Just because people are saying that scammers gonna scam doesn't mean that people don't want regulations against them.

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

Even if tight regulations come to crypto, scams will still exist that's right. The first way to tackle scam is using one's common sense, knowing how to spot one and avoid it. Regulations will only reduce the scam rate, but not entirely curb it. And mind you, regulations still has its downsides, remember this is crypto and decentralisation should be upheld.

nicecrypto

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

Exactly, if there are no form of control or regulations the space will be a total chaos, those who are always rooting for privacy and anonymity, it is not that it is a bad thing but what about the disadvantage it will bring, already we have too many scammers in the crypto space, and as long as there is no any control it will be even worse,
There is no way people can have complete freedom and expect things to be normal.

Pearls Before Swine

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It's hard to decipher what Op is talking about exactly, but there are crypto scammers who have gotten caught and have even gone to prison because of it. Trendon Shavers, Mark Karpeles, and the silk road founder all suffered the consequences of illegal crypto use in one way or another and there might be others that I'm just not able to recall.

But I do agree that a lot of scammers get away with it if bitcoin or another crypto is involved, and it kind of makes sense. A lot of people who are into crypto want to remain anonymous and don't want to go to law enforcement, which would expose them to scrutiny. Crypto really gets a bad rap because of its dark market uses, and that's unfair in the extreme but it is what it is.

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

I believe that we ourselves should try to identify fraudsters and tell the community about them. Moreover, there are already tools to decorate scammers. For example this forum. Here you can mark a person who conducts fraudulent activities and can warn other participants in this way. Yes, of course, this does not mean that this fraudster will be sent into custody or fined, but still this is better than doing nothing.

Patrix_1

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The problem is that the majority of crypto community is still against any kind of regulations. If people are not ready to sacrifice anonymity, than we can expect such things to happen any time, because nobody is really after scammers.

krb91

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Yes, I have been thinking about it- Is there no effective way to police cryptocurrency scams? If culprits can be apprehended and made examples of, it'll serve to dissuade them fast growing population of cryprocurrency scammers. Although I do not support regualtions but there has to be a way to crackdown on such individuals.

Kunotcoin

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In some instances you are right but! each country has its own laws regarding that matter. While some countries has no law covering cryptocurrency related crimes. But i think most countries has a law about scams and frauds that involve money, but most of the enforcers are not aware about it. since it was a cryptocurrency related matter that needs an special attention.That's why i presume that the law was not implemented thoroughly. that's why those fraudster and scammers still continue to wreak havoc in the crypto industry.

SirLancelot

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You're right OP. Cryptocurrency scammers are hardly being caught. I think some people are getting this wrong; since cryptocurrency is anonymous it is hard to get someone when they scam another person, and that's because there is no means to trace them. If a hacker should hack an exchange and steal the money they can move it to a coin mixer and that way you won't be able to trace them for good.

But, if there were regulation and everyone that wants to make use of cryptocurrency is required to verify their identity, people will be afraid to try such, even hackers because they know that with the information they have given to their wallet provider they will be traced easily.

I saw someone post about someone that was involved in a project that scammed people over $16 million dollars and was caught. Well, that's a different case, those people were caught because they exposed their identity, which is different from the case I have explained above. You cannot start a project and get investors without proving your identity, that's why, sometimes, scammers will try to impersonate someone else.

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

This is the dominant events but it is not entirely true in every place. There are government policies and bodies that aims to police the cyberspace even though it is almost difficult. Such transactions with cryptocurrency are often lead to where the scammers will convert the money he stole into fiat. And when such suspicions rose because that's too much of money to be transferred, investigations will start. The difficult part is to find evidence or else, everything is just an accusation.

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Quote from: VDraci on October 12, 2019, 05:36:05 AM

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

It will all depends on which state or country you or the scammer lives. In some countries, the internet activities are possible to be traced just like in the movies. There is no anonymity for amateur cyber criminals. For instance, in many Southeast Asian countries are developing and continue updating their cybercrime laws and policies to protect not just their people but also their own economy from everything online.

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Quote from: meanwords on November 05, 2019, 08:38:44 PM

I think the main issue here is not the law, but the way crypto hides the scammers identity. We have vpns, mixers, Tor, and other sources that I don't know yet to hide our addresses and identities. The police would have a hard time trying to catch them. They can also hide their scammed assets to other wallets or other coins in order to lose track of the transactions. Scammers are getting confident because of the advancement of our technology and with that, cyber crimes are increasing.

You are right. In the case of cybercrime, the police do require more effort to catch the culprit compared to crime in the real world (which is easily traced). However, that does not mean it can not be done. The proof, in some cases of hacking and fraud under the guise of fundraising, has been successfully revealed by the police. It is also the responsibility of each of them to increase their awareness of all types of fraud that are used by fraudsters, always do analysis before taking any action.

Topic: Crypto Criminals got balls because no COP or law to tackle them (Read 1336 times)