Crypto Scams are a global issue - page 21.

sirohige

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Quote from: coin-investor on May 04, 2019, 11:24:18 AM

Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

There will always an attempt to scam people using or by cryptocurrency because this is a multi-million dollar industry, and scammers are fully equipt and they are professional enough to make their project looks legit and in compliance with existing laws, so we need some form of regulation, but will not undermine, the cryptocurrency decentralization.

imagine from the beginning of 2018 there were many scam cases that occurred and now the CEOs or founders of the project are still free to roam wherever he wants without clear rules, the perpetrators of the thieves or the scamer should get criminal penalties and there must be regulations clear.

coin-investor

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Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

There will always an attempt to scam people using or by cryptocurrency because this is a multi-million dollar industry, and scammers are fully equipt and they are professional enough to make their project looks legit and in compliance with existing laws, so we need some form of regulation, but will not undermine, the cryptocurrency decentralization.

nur rochid

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Quote from: OrangeSeller on May 04, 2019, 09:08:33 AM

Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

It may and may not be a big issue, it will be a big issue in the sense that when it is becoming a global scam and the government still being adamant in buying into its adoption, it may get out of their control, but I know that a time will come if it really becomes a big threat to the government, they will have no choice but to regulate it.

This crypto scam of a thing going on is really not a favorable one because it does favor us the users in anyway, if government regulates it, it will be more like also operating on a centralized system we have always been, just that their control would not be as much as it is in a centralized system.

of course government policy must be based on a decentralized system, and the rules made provide policies for cryptocurrency to develop. therefore this is what makes the government still calculate it

OrangeSeller

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Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

It may and may not be a big issue, it will be a big issue in the sense that when it is becoming a global scam and the government still being adamant in buying into its adoption, it may get out of their control, but I know that a time will come if it really becomes a big threat to the government, they will have no choice but to regulate it.

This crypto scam of a thing going on is really not a favorable one because it does favor us the users in anyway, if government regulates it, it will be more like also operating on a centralized system we have always been, just that their control would not be as much as it is in a centralized system.

chengha937

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Scam is a global issue even before crypto, I think some is just saying that crypto is all scam since it's done in the internet. And as we all know scam normally happened using the internet thus, most people think it's scam. I think whether it's crypto or not, scam is inevitable because scammers just can't get off their hands to easy money.

Fabienne_ayy

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Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

In the first quarter of this year, cyber thieves, extortionists and scammers attempted a more diverse range of crypto crimes. Huh

geegaw

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Quote from: rijaljun on May 03, 2019, 04:11:33 PM

Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

It is a global issue which the whole world can't fix. Few countries succeed to fight it but others are still struggle to put those scammer into a jail. That's why some countries is banning anything related to crypto, they are just trying to save their people from falling into a scam. I don't think we need more compliance from companies, but we need government to pay more attention to fight this issue.

Indeed, this is a global problem when the crypto field is becoming more and more popular in many countries, that creates opportunities for scammers to take advantage of and make money from new investors. And this issue is really becoming serious over time when many major scams appeared, governments of many countries were forced to participate and there were restrictions on crypto, but these limitations are still not enough, the government really needs stronger rules and measures to manage this issue

altcoinhunter01

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Yes, Crypto scams is a global issue and many investors lost their money through these scams in last one year. A strict ruling is necessary to stop these scams and many countries are working on it to stop all these things.

sana54210

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Quote from: finaleshot2016 on May 02, 2019, 10:22:36 PM

Scams are everywhere and it's very easy to implement a project scam in the cryptocurrency world because it is being done on the internet. The Internet can be used as a tool of scamming people especially when people get attracted to profit. Since then, I encountered a lot of scam projects for not paying the bounty hunters or the participants of the said project. I also participated in debunking a scam project to its lack of proof of legitimacy.

It's a big issue and very hard to be solved since it's being done globally and we can't control it instantly.

It would not have been a difficult thing to control if it was just done over the internet, but the extra security of anonymity attached to blockchain makes it very difficult for them to be known. Its control is really going to be a very difficult one but if governments are willing to adopt and legalize it, they can still control it to some extent.

Most scam are still done via ICOs for now, government can start from there by legalizing it and registering companies that wished to operate using blockchain technology and cryptocurrency, so no project that does not have the stamp of government like the STO should be participated in, there are some situation in the cryptocurrency where the issue of anonymity has to be jettisoned, any ICO that wants to carry out crowd funding, should be ready to face the government.

futile-resistance

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Quote from: Adriano2010 on May 03, 2019, 12:33:26 PM

Indeed this is a huge problem, and a lot of scams, i think most of scammer come to scam on crypto because they are hard to track and to know where are the coins stealed, but i also think people who are in crypto should take more precaution measure and this will reduce scam attemps a lot.

Yes, cryptocurrencies makes it easier for such scammers to scam money and anonymously convert into white money. That might also be the reason behind why most of the illegal works are been supported by cryptocurrency payments. But the peoples in cryptocurrencies should also try to be much more aware about such scams and always take major precautions before getting into any scheme.

Peoples who are experienced rarely have any such issues but what I think is the peoples who newly start into cryptos are the victims of such scams. In the greed to have major profits, people invest into such ponzi schemes and lose their money.

SirLancelot

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Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

As the technique are becoming modern and modern the amount of scams too is rising along. There are a lot of scam minds which are always bending towards evil ways to make profits. There is a need for more and more compliance companies to arise as such scams should be taken much seriously and a strict action should be taken against them.

There actually is not just crypto scam a global issue but we can also see a lot of scams in the centralised world including the scam companies launching their stocks to collect the money and run away. Such scams are actually turning unstoppable so peoples should try to avoid such scams and stay ourselves safe.

Bitkoyns

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Quote from: Botnake on May 04, 2019, 02:35:02 AM

Scams are happening in the crypto market, the more it's getting popular, the more scammers will exist.
This really calls for a big regulation, we cannot live a world like this, we like adoption but we will not get a real one because newbies
will have a high risk of entering their money since they are less educated.
What we can do now is just to educate ourselves, know the market situation and always be cautious on everything.

if there will be no regulations to be release then it will continuously evolving and those people behind will continue doing their illegal job, that is why it is cautious passing KYC because they might used our identity for their illegal works.

maydna

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The scammers will get always around of us and will try to take our money if we are not careful, and it's not just happening in one country, but it's happening in all countries and all places. The target of the thief and the scammers in the cryptocurrency will be on the exchanges and the users as the article said and that means, we need to prevent for that thing happen. We could activate everything to protect our account so the chance to get scam or steal will reduce and we should choose the trust exchanges to help us to protect our coins.

We don't know when we get scam and only with preventing, and we can minimize the chance from being a scam. We need to be serious to protect our account and do everything we can to stay away of them.

Botnake

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Scams are happening in the crypto market, the more it's getting popular, the more scammers will exist.
This really calls for a big regulation, we cannot live a world like this, we like adoption but we will not get a real one because newbies
will have a high risk of entering their money since they are less educated.
What we can do now is just to educate ourselves, know the market situation and always be cautious on everything.

neonshium

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Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

Was there a time that cryptocurrency users were not allowed to transact globally? It had always been a global business except countries where bitcoin and other cryptocurrency has been banned from being used. As long as there is no law against bitcoin or anything cryptocurrency in your country, you're always free to make use of it.

And like you have said ,scam in cryptocurrency is a global issue. And I don't think there is any way that it can be solved, it's left for us to take care of it ourselves and how we can take care of it is by being careful on where our money is going to. If you don't look out for yourself ,then you will get scammed.

Caladonian

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Quote from: CryptoBry on May 03, 2019, 11:45:29 PM

Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

This is the big reasons why countries have to enact their own regulatory laws with regards to the use, trade and exchange of cryptocurrencies so that people can be protected against the evil design of many scammers, hackers, phishers and similar people. These people are right now taking a good residence in the industry and they are using their immense talents and genius in order to fool and trick people to cough money. It is about time that this very industry will do concrete strategies to deal this matter. Scams have to be minimized if not totally eliminated. On personal level, it is our responsibility to be always careful and always be informed.

Those talented scammers needs to be punished, the governing bodies are responsible from each countries to apply certain rules for this type of issues, though it's not clear yet if every countries have this service that implied to pay attentions into crypto related crimes as still most of them are not aware
or not even paying attentions to this matters, till then, it's the trades/investors obligations to protect their money not being penetrated of this evil act
coming from people who loves victimizing holders.

Always take an extra steps in terms of securities of your assets, never to give scammers/hackers a chance to attack you.

Findingnemo

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There is no organization or anything like that were available to punish the scammers,they may get arrested if any complaint were against them and caught by the police on their country other than that no other solution for this,it might not be a big issue once people got much familiar with it.

CryptoBry

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Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

This is the big reasons why countries have to enact their own regulatory laws with regards to the use, trade and exchange of cryptocurrencies so that people can be protected against the evil design of many scammers, hackers, phishers and similar people. These people are right now taking a good residence in the industry and they are using their immense talents and genius in order to fool and trick people to cough money. It is about time that this very industry will do concrete strategies to deal this matter. Scams have to be minimized if not totally eliminated. On personal level, it is our responsibility to be always careful and always be informed.

Muzika

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Quote from: akeegan on May 02, 2019, 07:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

Bitcoin and crypto are engaged globally wherein many people has an idea on how to used this kind of industry in illegal way so as long as there were no good security this will be the threat on this industry even a huge exchange has been the victim of different fraud therefore they should strengthen their security.

BossMacko

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I think if we will only use credible Bitcoin website to buy or sell directly using card or vise versa. You'll know if its a credible Bitcoin website if you Give a little of time to research regarding a Bitcoin website. Scams usually happens between 2 individual trying to transact.

Topic: Crypto Scams are a global issue - page 21. (Read 4065 times)