Crypto Scams are a global issue - page 6.

Tungsten-1

sr. member

Activity: 994

Merit: 256

Quote from: BartS on November 04, 2019, 09:53:22 PM

Quote from: Sahyadri on October 31, 2019, 05:01:10 AM

If you look at any payment mechanism which is online and uses phones and internet, the scam rates are pretty high. Because it is easier to get into a device through Trojans or phishing sites and hack a system. Also, it is easier to manipulate people on internet into giving details as digital literacy is there but that efficiently. The situation is worse in crypto because it is more complex and requires understanding of wallets, exchanges and keys which is tough to understand. Moreover, there is no central authority to look after the crimes. This increases the problem.

Many complain about the high level of scams going on in the market but the same is happening with credit cards, hackers are taking advantage of the lack of culture when it comes to online security and they are making themselves rich in this way.

But the problem is even more acute in this market because as we know there is not a central authority that will protect you in the case you lose your coins, we were supposed to take that role and it seems many people are failing at that task.

The problem of scamming of cyber crimes is happening in every kind of market. It is not limited to crypto market only as you said; I believe anything connected to internet is prone to scamming or hacking. We cannot completely stop because even in centralized systems, people get scammed of their plastic money but we can take measures to avoid such mishaps. For crypto, we shall prefer offline wallets, avoid sharing keys with others and avoid talking about your assets on platforms.

Kevondo

sr. member

Activity: 742

Merit: 251

Quote from: Sithara007 on November 05, 2019, 09:43:09 AM

Quote from: BartS on November 04, 2019, 09:53:22 PM

Many complain about the high level of scams going on in the market but the same is happening with credit cards, hackers are taking advantage of the lack of culture when it comes to online security and they are making themselves rich in this way.

But the problem is even more acute in this market because as we know there is not a central authority that will protect you in the case you lose your coins, we were supposed to take that role and it seems many people are failing at that task.

You can't really compare the ICO scams with credit card hacks and all, because nowadays a majority of the ICOs are turning out to be scams. For comparison, in case you are using a credit card, what is the possibility of it getting hacked in a given year? I am not saying that credit card hacks are rare, but when compared to the frequency of scams in the ICO sector, such incidents would look like exceptions.

And during the past several years, the scammers have managed to pull multi-billion USD worth of scams using cryptocurrency. The best example is that of the PLUS Token scam, which is believed to have stolen more than $3 billion from tens of thousands of users. With cryptocurrency scams getting bigger and bigger, it is no longer possible for us to sweep them under the carpet.

Indeed the domains are different and the ways to pull scams are also different. Moreover, I will call the card frauds as hacks, which can not be done by simple developers or common people. In cyber space, the number of ways for committing attacks are more than the defense. All sort of cyber crimes are increasing in number. The safety of individuals is in their own hands. They should not take their actions lightly in digital world.

AicecreaME

sr. member

Activity: 2436

Merit: 455

Quote from: Dr.Osh on November 02, 2019, 10:56:01 AM

Quote from: Ziskinberg on November 01, 2019, 04:06:01 AM

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon?

I will never end as in every investment type in the business world, scammers are just around the corner.
What we have to do is to study first before putting our money, this is what we called, " prevention is better than the cure".

If most investors are not careful and they ensure they have a knowledge before investing, this market will be better.
Scammers will still remain but the scams rate will significantly go down.

Even now there are still so many crimes about crypto. because it covers the whole world, the outlaws out there certainly won't stay quiet to find their prey by mingling and studying this system. Until now all kinds of prevention have been carried out, and are still being developed, so until now we also need to improve our quality in choosing projects, or where we invest in the internet. however, we need to try to be smarter, and better than the con artists in the world.

As technology rises, people are taking the advantages of it, others use it on good things while other use it in bad thing. Cryptocurrency scam is harder to fix than fixing poverty problem, why is that, it is because poverty is only a single problem while scams is a group, authorities might caught some of them but think that there's a lot of scammers and new scammers as the day goes by.

The best thing we could do to counter them is be attentive and increase our awareness by not trusting too fast when transacting online.

panganib999

hero member

Activity: 1750

Merit: 589

Quote from: akeegan on May 02, 2019, 06:39:39 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/

Even now that the global transactions ia not yet accepted and allowed scams and cyber mcirmea are alaready evident and are in fact doing it greatly beause scammers and whoever they are that is behind these schemes are getting smarter and smarter, they evem make it seem legit and not very suspicous so that people would still fall into it.

JC btc

sr. member

Activity: 770

Merit: 253

Quote from: White Christmas on November 05, 2019, 07:03:34 AM

Quote from: akeegan on May 02, 2019, 06:39:39 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?

We all know that their are some countries who are not accepting crypto and they don't have any issues or problem on what the people are getting from the crypto so they don't care about money laundering as long as it is about on crypto. If the government want to lessen the scams and illegal trafficking of the people in the crypto then they must need to accept bitcoin and crypto in their country so that it would be easy to track those people who are doing illegal in the cyber world or crypto world. In order to stop scams and illegal trafficking, we must first know how crypto is working and how the scammers are working in order for us to capture them.

Well, there's different instances in every country, some countries are accepting cryptocurrency as payment, some are not.

Cryptocurrency scams should be global issues, these became the hindrance for crypto to be adopted in all countries, because of this, there is fear, doubt in the government, that they crypto is a big scam, and this will effect the financial system.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: BartS on November 04, 2019, 09:53:22 PM

Many complain about the high level of scams going on in the market but the same is happening with credit cards, hackers are taking advantage of the lack of culture when it comes to online security and they are making themselves rich in this way.

But the problem is even more acute in this market because as we know there is not a central authority that will protect you in the case you lose your coins, we were supposed to take that role and it seems many people are failing at that task.

You can't really compare the ICO scams with credit card hacks and all, because nowadays a majority of the ICOs are turning out to be scams. For comparison, in case you are using a credit card, what is the possibility of it getting hacked in a given year? I am not saying that credit card hacks are rare, but when compared to the frequency of scams in the ICO sector, such incidents would look like exceptions.

And during the past several years, the scammers have managed to pull multi-billion USD worth of scams using cryptocurrency. The best example is that of the PLUS Token scam, which is believed to have stolen more than $3 billion from tens of thousands of users. With cryptocurrency scams getting bigger and bigger, it is no longer possible for us to sweep them under the carpet.

ReiMomo

sr. member

Activity: 2366

Merit: 305

Duelbits - $100k Bonus/week

Quote from: BartS on November 04, 2019, 09:53:22 PM

Quote from: Sahyadri on October 31, 2019, 05:01:10 AM

If you look at any payment mechanism which is online and uses phones and internet, the scam rates are pretty high. Because it is easier to get into a device through Trojans or phishing sites and hack a system. Also, it is easier to manipulate people on internet into giving details as digital literacy is there but that efficiently. The situation is worse in crypto because it is more complex and requires understanding of wallets, exchanges and keys which is tough to understand. Moreover, there is no central authority to look after the crimes. This increases the problem.

Many complain about the high level of scams going on in the market but the same is happening with credit cards, hackers are taking advantage of the lack of culture when it comes to online security and they are making themselves rich in this way.

Absolutely! There are many scammers and hackers right now all over the globe especially here in the crypto world as long as related to the internet and it is a very big problem so all I can suggest is that you must need to be careful. You must only access the trusted sites and don't you even enter untrusted sites to avoid being hacked and scam. So, at least we know that it's a part of our responsibility to be careful our assets into safe. Bad people always wanted an easy money and fool naive people.

White Christmas

sr. member

Activity: 882

Merit: 258

★Bitvest.io★ Play Plinko or Invest!

Quote from: akeegan on May 02, 2019, 06:39:39 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?

We all know that their are some countries who are not accepting crypto and they don't have any issues or problem on what the people are getting from the crypto so they don't care about money laundering as long as it is about on crypto. If the government want to lessen the scams and illegal trafficking of the people in the crypto then they must need to accept bitcoin and crypto in their country so that it would be easy to track those people who are doing illegal in the cyber world or crypto world. In order to stop scams and illegal trafficking, we must first know how crypto is working and how the scammers are working in order for us to capture them.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: Sahyadri on October 31, 2019, 05:01:10 AM

If you look at any payment mechanism which is online and uses phones and internet, the scam rates are pretty high. Because it is easier to get into a device through Trojans or phishing sites and hack a system. Also, it is easier to manipulate people on internet into giving details as digital literacy is there but that efficiently. The situation is worse in crypto because it is more complex and requires understanding of wallets, exchanges and keys which is tough to understand. Moreover, there is no central authority to look after the crimes. This increases the problem.

Many complain about the high level of scams going on in the market but the same is happening with credit cards, hackers are taking advantage of the lack of culture when it comes to online security and they are making themselves rich in this way.

But the problem is even more acute in this market because as we know there is not a central authority that will protect you in the case you lose your coins, we were supposed to take that role and it seems many people are failing at that task.

Dr.Osh

legendary

Activity: 2758

Merit: 1004

Buzz App - Spin wheel, farm rewards

Quote from: Ziskinberg on November 01, 2019, 04:06:01 AM

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon?

I will never end as in every investment type in the business world, scammers are just around the corner.
What we have to do is to study first before putting our money, this is what we called, " prevention is better than the cure".

If most investors are not careful and they ensure they have a knowledge before investing, this market will be better.
Scammers will still remain but the scams rate will significantly go down.

Even now there are still so many crimes about crypto. because it covers the whole world, the outlaws out there certainly won't stay quiet to find their prey by mingling and studying this system. Until now all kinds of prevention have been carried out, and are still being developed, so until now we also need to improve our quality in choosing projects, or where we invest in the internet. however, we need to try to be smarter, and better than the con artists in the world.

Kambal2000

sr. member

Activity: 700

Merit: 257

Quote from: Kevondo on November 02, 2019, 09:47:58 AM

Quote from: Memminger on November 01, 2019, 05:32:18 AM

Quote from: doomistake on November 01, 2019, 03:34:42 AM

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon? Not so sure. as long as their people still using crypto there are corrupt or greedy people because it is money. you know money will bring you to evilness like fiat currency. market is gaining billions and do you think do the jealousy just look like a dream come true? No, because that would make them a way to get money from others just to get rich. as long as money is involved anywhere bad activities will not end.

Scams are not just in cryptocurrency, we don't have to put all the blame on cryptocurrency, greed is human nature, and it is happening every where, in food, in love, in jobs, in gaining positions, and so may other things and most of them are not important at all. People want to have all the things he ought need, but it is just infatuations because it is basically what he "wants".

Scam will continue to exist as long as humanity exist, we are becoming more animals and animals are becoming more human these days.

Also I would like to point out that scams are rampant with fiat as the medium we just tend to give more attention to Bitcoin with regards of this issue. I always thought that there should be a force to put order amongst these people who abuse and take advantage of other people. Legalization of Bitcoin among different countries would be one step in doing so and even more so when the use of BTC would become widespread as we should expect that crimes would also became severe due to certain individuals.

There are organizations in almost every country of the world that deal with cyber criminals. Then there is FBI, NSA and stuff that takes care of criminals and frauds at international level. And do not underestimate them. Hat time is not far when bitcoin will be legalized worldwide. With every passing day, it is becoming famous and governments are talking about it. One last thing, scamming is more to do with stupidity of a person.

That's the main reason why when during the first five years of Bitcoin government can't accept it, they know that it is widely used in illegal activities so it has been hard for them to regulate it and to just warned people that it was illegal. Still now we can't deny the fact it is widely used to scam people thru ICO/HYIP which still up to now has a lot of victims.

Kevondo

sr. member

Activity: 742

Merit: 251

Quote from: Memminger on November 01, 2019, 05:32:18 AM

Quote from: doomistake on November 01, 2019, 03:34:42 AM

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon? Not so sure. as long as their people still using crypto there are corrupt or greedy people because it is money. you know money will bring you to evilness like fiat currency. market is gaining billions and do you think do the jealousy just look like a dream come true? No, because that would make them a way to get money from others just to get rich. as long as money is involved anywhere bad activities will not end.

Scams are not just in cryptocurrency, we don't have to put all the blame on cryptocurrency, greed is human nature, and it is happening every where, in food, in love, in jobs, in gaining positions, and so may other things and most of them are not important at all. People want to have all the things he ought need, but it is just infatuations because it is basically what he "wants".

Scam will continue to exist as long as humanity exist, we are becoming more animals and animals are becoming more human these days.

Also I would like to point out that scams are rampant with fiat as the medium we just tend to give more attention to Bitcoin with regards of this issue. I always thought that there should be a force to put order amongst these people who abuse and take advantage of other people. Legalization of Bitcoin among different countries would be one step in doing so and even more so when the use of BTC would become widespread as we should expect that crimes would also became severe due to certain individuals.

There are organizations in almost every country of the world that deal with cyber criminals. Then there is FBI, NSA and stuff that takes care of criminals and frauds at international level. And do not underestimate them. Hat time is not far when bitcoin will be legalized worldwide. With every passing day, it is becoming famous and governments are talking about it. One last thing, scamming is more to do with stupidity of a person.

daarul50

legendary

Activity: 1596

Merit: 1034

Quote from: ene1980 on October 31, 2019, 09:46:44 AM

Quote from: daarul50 on October 31, 2019, 09:26:41 AM

the scam happens often everywhere not only in crypto currency space.

There is no doubt that there are scams all over the world in difference financial sector but in this space we see that more often and billions of dollars are lost to these scammers which is not a small amount by any means.

Quote from: daarul50 on October 31, 2019, 09:26:41 AM

there is nothing to be scared with the scam attempts as long as you fill your head with deep knowledge about crypto.
there is a lot of effort working on proggress to prevent scams these days , it does not need to stopping you getting involved in the business.

Scammers will improvise with time and they will come up with projects that will attract anyone with deep knowledge too, it is true that you cannot scam anyone with half baked projects but you never know what the future holds, i am not a fan of the ICO world as i have seen many scams and i am not risking my money for these shitty projects, i made my profit with the amount i invested and if i was too greedy to hold for a longer period of time i would have lost everything.

as i stated previously that cryptocurrency is not mature enough , moreover it is much more vulnerable than any financial sector that has been availabe to serve millions people for years , sure you can not compare it.

even in the banks environment where they almost experienced any kind security breach included scam attempts involving bank products , scam happens pretty often , who to blame? the bank? of course not. the same thing applied here in crypto.
stop comparing these two , this is a never ending issue that seems will always exist.

there is a theory that this kind "crypto hacks" issues written in the mainstream media just to kill crypto existence itself.
a makes sense conspiracy isn't it?

Mumbeeptind1963

hero member

Activity: 1190

Merit: 568

Sovryn - Brings DeFi to Bitcoin

Quote from: doomistake on November 01, 2019, 03:34:42 AM

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon? Not so sure. as long as their people still using crypto there are corrupt or greedy people because it is money. you know money will bring you to evilness like fiat currency. market is gaining billions and do you think do the jealousy just look like a dream come true? No, because that would make them a way to get money from others just to get rich. as long as money is involved anywhere bad activities will not end.

Scams are not just in cryptocurrency, we don't have to put all the blame on cryptocurrency, greed is human nature, and it is happening every where, in food, in love, in jobs, in gaining positions, and so may other things and most of them are not important at all. People want to have all the things he ought need, but it is just infatuations because it is basically what he "wants".

Scam will continue to exist as long as humanity exist, we are becoming more animals and animals are becoming more human these days.

They uses cryptocurrency because it is the trend now, many people now are aware that there is a "cryptocurrency" thing that can be found in internet, you may get it for free (like joining in sig camp) , you may invest you money with it (trading), and you may use it to play for poker etc(gambling), that is why scammers easily get victims by using these facts. And we all know that bitcoin is truly used by bad people for illegal transactions because it is not easy to be trace.

Memminger

sr. member

Activity: 540

Merit: 252

Quote from: doomistake on November 01, 2019, 03:34:42 AM

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon? Not so sure. as long as their people still using crypto there are corrupt or greedy people because it is money. you know money will bring you to evilness like fiat currency. market is gaining billions and do you think do the jealousy just look like a dream come true? No, because that would make them a way to get money from others just to get rich. as long as money is involved anywhere bad activities will not end.

Scams are not just in cryptocurrency, we don't have to put all the blame on cryptocurrency, greed is human nature, and it is happening every where, in food, in love, in jobs, in gaining positions, and so may other things and most of them are not important at all. People want to have all the things he ought need, but it is just infatuations because it is basically what he "wants".

Scam will continue to exist as long as humanity exist, we are becoming more animals and animals are becoming more human these days.

Also I would like to point out that scams are rampant with fiat as the medium we just tend to give more attention to Bitcoin with regards of this issue. I always thought that there should be a force to put order amongst these people who abuse and take advantage of other people. Legalization of Bitcoin among different countries would be one step in doing so and even more so when the use of BTC would become widespread as we should expect that crimes would also became severe due to certain individuals.

Ziskinberg

hero member

Activity: 3010

Merit: 666

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon?

I will never end as in every investment type in the business world, scammers are just around the corner.
What we have to do is to study first before putting our money, this is what we called, " prevention is better than the cure".

If most investors are not careful and they ensure they have a knowledge before investing, this market will be better.
Scammers will still remain but the scams rate will significantly go down.

Doell

hero member

Activity: 2156

Merit: 531

Quote from: doomistake on November 01, 2019, 03:34:42 AM

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon? Not so sure. as long as their people still using crypto there are corrupt or greedy people because it is money. you know money will bring you to evilness like fiat currency. market is gaining billions and do you think do the jealousy just look like a dream come true? No, because that would make them a way to get money from others just to get rich. as long as money is involved anywhere bad activities will not end.

Scams are not just in cryptocurrency, we don't have to put all the blame on cryptocurrency, greed is human nature, and it is happening every where, in food, in love, in jobs, in gaining positions, and so may other things and most of them are not important at all. People want to have all the things he ought need, but it is just infatuations because it is basically what he "wants".

Scam will continue to exist as long as humanity exist, we are becoming more animals and animals are becoming more human these days.

yes a greed scammer will always be there until humanity is dead your right mate and scam is a form of their work ,it is difficult to trace if they are smarter than us and core of this problem is the lack of insight understanding that is a factor we are deceived
people will be afraid a scam with crypto because of the anonymous nature ,problem is important insights and experiences so don't experience a scammer

doomistake

hero member

Activity: 1400

Merit: 571

Quote from: Aying on October 31, 2019, 04:42:23 AM

Well, this issue will end soon? Not so sure. as long as their people still using crypto there are corrupt or greedy people because it is money. you know money will bring you to evilness like fiat currency. market is gaining billions and do you think do the jealousy just look like a dream come true? No, because that would make them a way to get money from others just to get rich. as long as money is involved anywhere bad activities will not end.

Scams are not just in cryptocurrency, we don't have to put all the blame on cryptocurrency, greed is human nature, and it is happening every where, in food, in love, in jobs, in gaining positions, and so may other things and most of them are not important at all. People want to have all the things he ought need, but it is just infatuations because it is basically what he "wants".

Scam will continue to exist as long as humanity exist, we are becoming more animals and animals are becoming more human these days.

huige007

sr. member

Activity: 889

Merit: 253

Quote from: owengtam09 on October 31, 2019, 12:39:50 PM

Quote from: akeegan on May 02, 2019, 06:39:39 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/

Scams are now increasing day by day and it's not new already. Cryptocurrencies have no support from governments, and I heard here that some governments (maybe in some countries) don't want to accept cryptocurrencies, I don't think we can get support from them or maybe a compliance company but we already know that there is a lot of scammers out there even here in forum there is a lot, especially with bounties or airdrops so make sure to check it 1st before joining to avoid those scammers than to rely on those compliance company that you are saying. No one will help us but only ourselves.

The history of crime is as old as the human race itself. Scammers, smugglers, thieves and all such people have existed since the beginning. Unlike other crimes, scams become successful due to the stupidity of people. They felt victim to stories and big baits. They fail to see the hidden game. Just to make more money in less time, helps scammers in achieving their missions. Greed and laziness are big problems. I am happy you were smart and saved yourself.

clickerz

hero member

Activity: 1414

Merit: 505

Backed.Finance

Quote from: bitbunnny on October 18, 2019, 07:55:12 AM

Scams have always been an issue but with development of technologies they moved into virtual space. New possibilities for criminals and much easier way to gain illegal profit. Cryptocurrencies user are especialy atractive target. And I'm not talking only about ICO's, it's much larger area.
Awarness is something that needs to be worked on and people needed to know how to protect themselves,how to check necessary facts and recognize potential scam.

Indeed, and this cryptocurrencies scam is new and emerging in scam category. Since this is new and infuses with blockchain technology,some new words... people are attracted to it.In the end, when outcome does not meet what is promised, it become fraud and scam.

Quote from: daarul50 on October 31, 2019, 09:26:41 AM

+1

the scam happens often everywhere not only in crypto currency space.

but yes we do know that cryptocurrency itself is much more vulnerable because its easy-access unregulated system , but the thing is that if you really know what you are doing in crypto , every aspect start from the very basic to the technical , i think you will never get trapped in the scams cycle, cryptocurrency is a wonderful thing ever invented for human kind in the digital era with its high risk involved.

there is nothing to be scared with the scam attempts as long as you fill your head with deep knowledge about crypto.
there is a lot of effort working on progress to prevent scams these days , it does not need to stopping you getting involved in the business.

Education is really important,before anything else, before you invest make a thorough study indeed. Its easy to spot a scam,if yiou take time to analyze them. Dont be carried away by hype, those not so real promisesmostly become scam and at the end of the day you are responsible of your actions.

Topic: Crypto Scams are a global issue - page 6. (Read 4084 times)