One of the most important feature of cryptocurrencies is privacy, if done right it's very hard to find the person behind an address, which sadly attracts criminals to crypto. Now, bet fraud is when a person who can directly influence the outcome of some event bets on it, and the privacy features of cryptocurrencies are making it easier. A sportsman can place a huge bet against himself and than just throw the match and take a huge amount of money, and it would be impossible to spot this because betting was done anonymously via cryptocurrencies. Sometimes it's easy to spot that the player is intentionally throwing, in other cases it's almost impossible to tell, also huge bets on weak picks might raise suspicions, but if done right, it might be very hard to spot the fraud.
Do you know any stories about bet frauds committed with cryptocurrencies?
Is there any way to prevent or investigate it?
I haven't still encountered on this kind of frauds since if I do saw some big bets on weak picks and I do normally treat it as an usual thing on this betting world. Whats the point of their throwing? No one would able to place big bets if they aren't sure but yet its gambling that's why we do risk money and the amount we do like. This is the beauty of bitcoin which we can able to place bets without being traced and hide your identity anonymously. Do you know any stories about bet frauds committed with cryptocurrencies?
Is there any way to prevent or investigate it?