This report is not good for a young developing industry like crypto. It totally paints the industry black and dark. Fraud can't be totally eliminated as it is in other works of life, but this one must be drastically reduced to avoid bad stinks. Regulation-wise and Technology-wise, something must be done to reduce this.
I agree. I think that having a ledger that is technically public allows people to see even though there are transactions being made without the knowledge of what is being purchased, technology will always get better to prove that there will always be bad actors unfortunately. It's how we can stop them early on through these third parties that will help the large money losses
Just like he said, fraud cannot be eliminated, but we can be very careful enough to limit the rate or not even give chances for it to happen. Aside hacking of wallet, scammers will not directly deep hands into our pocket to steal money if we don’t give chance to them, we have been given them chance for too long to sweet talk us into transferring our wealth to them.
We need to be more careful, ensure that whatever project we pick interest in, even if its 1 project in the market, is worth it and would not threaten our investment, the whole chunk of the job is really in our hands because there is nothing the government can do right now to assist, since they are yet to legalize it.
