Topic: What is the fate of Scammers if bitcoin later becomes a traceable Currency. - page 8. (Read 2195 times)

I also believe that the anonymity in crypto is quite high, so people who cheat are certain they manipulate when making transactions. may be tracked but need accuracy and access to be able to track the transactions made, and certainly requires special handling with experts

It’s not a matter of tracking down a scammer or not. Even if they are tracked, even if they are found, this will be only a separate episode. This is not a solution to the problem.

The fraud system itself will not disappear with the capture of any number of these characters. The system itself, contributing to the spread of bitcoin theft, is based on the fact that you "have a safe key" in which the money is.

The key is your concern and your fraud problems.

For this reason, an alternative to key technologies is proposed - keyless technologies. But, so far, few people perceive it, everyone is waiting for the "thunder to strike." Who is creative, see here:
https://bitcointalksearch.org/topic/keyless-encryption-and-passwordless-authentication-5204368

You hide the key. This works well when you do not need to use bitcoin.

Then, when you use bitcoin, you send the key hash - to some server. The fraudster does not need your key in its original form. He needs this particular key hash. Because the server does not know your key, it knows the key hash.
Further, the scammer makes a phishing attack, receives a key hash, and all your money is almost certainly lost.

Yes, a modern phishing attack provides the same encryption between the client and the phishing server as the original server. Therefore, if they managed to attack you, it means that you will exchange encryption keys with a phishing site, so you have established a “secure” communication channel, but with a phishing site, and pass the hash of your key on it.
It's all.
Woo a la.
And what was the point of storing it in a hardware wallet if it was stolen at the time of its use?

Not convincing? Here are the facts from today.

[10:27, 12/08/2019]
According to the annual Security Intelligence Report prepared by Microsoft, the number of phishing attacks in recent years has grown three and a half times.

What happened?
Are there more nonchalant people or are scammers working better?
Try to answer this question.

Customers of banks, payment systems and telecom operators are increasingly becoming victims of phishers. Internet fraudsters gain access to confidential user data (logins, passwords and plastic cards), directing potential victims to fake sites and services.
Check here:
 https://www.microsoft.com/securityinsights/

Obviously, if you have a key "from the safe where the money is", they will always hunt for this key.

This is a phenomenon. And you need to fight with the phenomenon, not with the fraudster. 2 new ones will always come to the local 1 caught fraudster.
 
Hardware wallets are also subject to hacking, unfortunately.
Everyone knows this information:

Cyber-experts from Wallet.fail discovered a number of vulnerabilities in the Trezor and Ledger hardware cryptocurrency wallets. As a result, they managed to carry out a series of successful wallet attacks during the Chaos Communication Congress in Leipzig.

Experts said that vulnerabilities lie in software and hardware, firmware, software architecture and web interface.

During the demo attacks, the Wallet.fail team managed to extract the PIN and mnemonic core from RAM Trezor, remotely sign the transaction and crack the Ledger Nano S bootloader, and intercept the Ledger Blue PIN.

Really, you need to close your eyes to these facts, and continue to convince yourself of the absolute safety of "wallets" and key obsolete technologies?

I think the problem is not that scam transactions can't be traced (because they can be) but the thing is that once a person is scammed there is little help available because the transaction can't be reversed unlike with PayPal or any traditional means of doing it. However, even if Bitcoin can be revered, still scammers are known to be innovative, creative and very intelligent they can easily devise ways and means for the benefit of their "craft and business" making scamming one of the most known ways of making money online.

After reading so many replies on how we can trace back the owner of addresses, I hope you have understood the concept on how Bitcoin works. There are still ways to be anonymous and transact but its too hard with present technology.

Bitcoin is not anonymous, in fact every transaction that you make can be traced on the blockchain, so it's already traceable. The only thing here is, while they can trace the transaction to the address, tracing the address to the individual might require some sort of authority. Exchanges now have KYC in place, so if government entities want to trace a suspicious address to the individual, they can actually do so.

What OP does mean is not traceable by what address, but by person, which is by reality, is almost impossible to happen. By now, the bitcoin network and community has grown into size that is unmanageable and untracable, even if they try to implement KYC to every exchange, people would always find a way. If they had thought of if right from the start, then maybe it could happen. But conditions right now doesn't give hope for governments to make their surveillance to its users.

Unless they could possibly extract information such as personal information from exchanges associated with the accounts of a person violating any legal laws. But in this case, they couldn't possibly do that, because of the exchange itself any data privacy act that supports the release of any personal information of a person. What they could do in a case is to try to develop a system where an IP addresses could be detected based on the wallet address.

What if the question is just like this, "What is the fate of Bitcoiners if it becomes a traceable currency?"

They may not trace the source of origin when doing some transaction but they can identify what addresses are moving funds and it is easy to tag them once they entered the exchanges to pass the KYC.

Anyway, back to your topic. The idea that I wrote is just the same as what you think even though Bitcoin is a decentralized cryptocurrency but the fact that all of the information is showed to the public except with our private keys.

In any business where it smells of money, there are scammers. Large fraudsters are known to a narrow circle of specialists. Usually they don’t even try to catch them. There is such an opportunity, it’s all about whether you have the right software, because there is always a trace - this is the scam computer’s IP, this is the geography of accessing the Internet and then it's a matter of technology.

Minor scammers are almost unknown. Unlike their victims, they are inventive. They are not stupid, otherwise they are caught. Every petty swindler dreams of becoming big. Therefore he invents. And we are sitting and watching. We are not inventing anything. We are waiting for unwanted guests to come to us.

Hardware wallets are already breaking. Fraudsters - evolving, and ordinary people let fat. This is always the case, nothing new, whatever crypto-technology would come up with for us, we are not able to withstand the attack.

It can actually be traced, there wouldn't be services like mixers if it cant be traced. There are many scammers who were caught because of the feature but the real big scammers like exchanges that turned scam and did an exit scam are usually the big fish that might not even face trail. Those are the bigger ones that in the real world can buy juries.

Personally, I think it will mean bad news for scammers, once Bitcoin becomes tradeable.
 It will be easy to track and persecute them for the evil acts they have done.
 But I have a question, isn't it's untraceable nature what makes btc better than the fiat?

Bitcoin can always be tracked, but if you don't exchange BTC for Fiat money no one can track and know your identity. If we use a centralized exchange of identity the scammers can be found, but I think they wouldn't be foolish to use their true identities.

You speak correctly. Sometimes own beliefs are not enough. If there is no fact of fraud or rather an evidence, you can't prove anything. This is a very difficult deal.

Fiat has had this since it was created and there still scammers even after the trace them.  Your topic is pointless.
Even if you trace someone who you say is a scammer it's still your claim. You still have to prove it in the eyes of the law and it is a long and painful process. Better just hire someone to break the persons knee caps and take what they owe you. This is what scammers deserve. The damn cowards.

Just to be absolutely sure you understand. The police sometimes know someone is a murderer and the murderer knows they know but they can do nothing without proper proof and things. Sometimes you just have to wait around for them to commit another crime and catch them in the act.

Scammers in this crypto ecosystem will always find a way to scam people in as much that Bitcoin or the entire cryptocurrencies become traceable. scammers usually explore on people who either have no knowledge or ignorant on how the entire crypto space. Scammers do not target experts in the crypto ecosystem. They are always looking for the vulnerable ones in the ecosystem.  Bitcoin being traceable will not really solve the problem of scam. Scammers will always be around so far as there are ignorant people among us..

Before answering this question, I want you to answer me that before 2009 (When there was no bitcoins), were there no scams ? There were scams and people used fiat currency to scam even though it was traceable. Bitcoin have only helped the evil minded people who existed even before the invention of bitcoins. Those scammer will continue to exists even if bitcoins becomes traceable.

Bitcoin has grown without Headquarters and Central offices and I think people will no longer use bitcoin for investment if it comes with regulation that actually controls bitcoin.

And the scam accidents will be reduced but it will not go away, there are many things that need to change one with the government's acceptance of bitcoin. But this is unlikely to happen especially in countries like China.

tracking only includes complicated algorithms, and scammers are quite adept at biasing it.

even in fiat which has been very easy to handle every transaction tracking is still easily fooled. Bitcoin is more complicated if it has entered the laundry / mixing process. it's not like fiat which only manipulates user data. Simply put it will only reduce the number of frauds, but the next target will be bigger and more structured.

Yes Bitcoin transactions can be traced. In this digital world nothing is impossible, a few firms has built software that can be tracked to help law against  illegal  earnings  or transaction. Can be traced through bitcoin address you get all the history of transaction. 

Figuratively it is traceable, by which the addresses can be expose happen to be connected to each other but things like that could be negative or positive action. Like me, I've created many account on coinbase already because of lost emails, cellphone number and passwords which is more likely to trace by wallet explorer. I think what the OP really meant is, is there really a way to name these hackers? or trace accounts to whom it belongs.