A government will first of all be crypto friendly before we will talk about them looking into the areas of crypto education for their citizens. What I know for sure is that they're more focused on the regulation aspect because that is where they generate income from. I believe that most governments don't feel comfortable with a decentralized digital cash like Bitcoin, which they can not fully control, so sensitizing their citizens about the dangers of crypto scams and hacks might not be a priority to them. The way I see it it's in the hands of crypto holders and intending crypto holders to research and equip themselves with the knowledge of cryptocurrency, 570626 how to protect their coins from hacks.
Yes that is right governments are more interested in controlling cryptocurrencies other than teaching people about it. Governments do not like cryptocurrencies like Bitcoin because they can not fully control them. So in my point of view it is very important for people who want to invest in cryptocurrencies so they should learn about them and keep their money safe. Investors can protect themselves from scams hacking and other dangers with learning. People who invest in cryptocurrencies must be careful and find trustworthy information to keep their money safe. 
Topic: When will the government look at this area? - page 3. (Read 864 times)
If crypto exchanges cannot safely store their customer's funds, i don't know how that is the fault of the government, many of these custodial services are regulated and licensed, but it is them that have to do better in terms of security.
However, people should not store their funds in a centralized exchanges to begin with, and then for self custodial hacks, of course that has nothing to do with the government, because you are your own bank in such situations.
First and foremost, we are responsible of our own crypto investment so we must not rely all its safety and security to the centralized exchanges alone. In fact, putting our crypto to centralized exchanges is kind of threat, at least it should be discouraged rather than convincing people to trust centralized exchanges more.However, people should not store their funds in a centralized exchanges to begin with, and then for self custodial hacks, of course that has nothing to do with the government, because you are your own bank in such situations.
However, in these highly increasing crypto fraud cases which targeted the less informed crypto owners, I think the government should also have to do something to reduce these scamming incidents. Either they’ll go for public awareness campaigns or engage with social media platforms to control the crypto fraud cases, that will really do some positive changes in order to lessen this fraudulence, otherwise the people might no longer see the government itself as something useful and helpful.
So what if they are elder people. Learning has no age and when it comes to money, we need to learn it to earn it.
I think the elderly can learn too and if they can then everyone else can too and if they cannot then it's their risk.
By holding bitcoin, we become our own bank and having a bank without proper security will surely invite thieves to steal our money.
That’s true - it’s our responsibility. But you can’t ignore the fact that they are the top targets for scammers. This shows they don’t easily understand why they’re being targeted, so in that sense, they definitely need some help.I think the elderly can learn too and if they can then everyone else can too and if they cannot then it's their risk.
By holding bitcoin, we become our own bank and having a bank without proper security will surely invite thieves to steal our money.
look at the amount scammed.
Bitcoin ATM fraudsters scam seniors out of $110M: report
So what if they are elder people. Learning has no age and when it comes to money, we need to learn it to earn it.
I think the elderly can learn too and if they can then everyone else can too and if they cannot then it's their risk.
By holding bitcoin, we become our own bank and having a bank without proper security will surely invite thieves to steal our money.
That’s true - it’s our responsibility. But you can’t ignore the fact that they are the top targets for scammers. This shows they don’t easily understand why they’re being targeted, so in that sense, they definitely need some help.I think the elderly can learn too and if they can then everyone else can too and if they cannot then it's their risk.
By holding bitcoin, we become our own bank and having a bank without proper security will surely invite thieves to steal our money.
look at the amount scammed.
Bitcoin ATM fraudsters scam seniors out of $110M: report
If crypto exchanges cannot safely store their customer's funds, i don't know how that is the fault of the government, many of these custodial services are regulated and licensed, but it is them that have to do better in terms of security.
However, people should not store their funds in a centralized exchanges to begin with, and then for self custodial hacks, of course that has nothing to do with the government, because you are your own bank in such situations.
However, people should not store their funds in a centralized exchanges to begin with, and then for self custodial hacks, of course that has nothing to do with the government, because you are your own bank in such situations.
So I think that protecting property is a personal responsibility and each of us should learn how to protect our property instead of relying on the government.
This is true, but there are vulnerable people who need help because they don’t know how to protect their property. And this isn’t just about owning crypto and being hacked; sometimes, it’s about scammers using crypto to facilitate hacking or scams.If we want to be protected by the government, we need to obey their regulations, pay our taxes properly...how many of us will do that?
its something out of the context already, not relevant to the topic. 
Frequent hacks is surely a serious issue happening in the crypto industry and the fact that these hacks are increasing every year shows how bad people are at securing their coins.
The only way they can avoid being hacked is by keeping their security at peak and this can only be done if they are tech savvy enough to have a good protection.
The only way they can avoid being hacked is by keeping their security at peak and this can only be done if they are tech savvy enough to have a good protection.
As mentioned in the OP, most of the victims are elderly. Even if you provide them with resources, they tend to prefer simplicity and may remain old school, making it harder for them to adapt and learn. This is one reason some argue that crypto has contributed to an increase in hacking and scams. However, we can’t stop crypto just because of this, as its positive impact far outweighs the negatives.
I’m not sure how the government plans to address this issue, but they need to act, especially since these scams target the hard-earned money of the elderly. Many of these victims lose their life savings, which are often meant for essentials like medicine, rent, and other retirement expenses. With just one wrong move, scammers can take everything from them, leaving them in a vulnerable position. It’s a serious issue that needs attention.
So what if they are elder people. Learning has no age and when it comes to money, we need to learn it to earn it.
I think the elderly can learn too and if they can then everyone else can too and if they cannot then it's their risk.
By holding bitcoin, we become our own bank and having a bank without proper security will surely invite thieves to steal our money.
If the government doesn’t take it seriously, this will become an endless cycle because scammers are constantly innovating their methods, and they often target vulnerable groups like the elderly.
I don't know if you are noticing, but the government system does not talk about these billion-dollar scams that are happening nowadays. However, if someone from another sector seems calm, they work on it but do not pay attention to these billion $ scams that are becoming like this. Are they not paying attention, or are they keeping quiet even after seeing the situation of this scam?When scammers see that no action is being taken against them even after committing scams, they get more opportunities, and they adopt new methods to commit scams and continue to commit scams. Do you think the government system will do anything about this today? They are unwilling to open their mouths about this scam, so how will they act on it? If they do not take action, the rate of scams will continue to increase.
They are actually discussing this issue, but it seems the actions taken so far aren’t enough to significantly reduce the number of scams, or maybe scammers are just increasing and coming up with new types of scams. In fact, there’s some recent news about actions being taken, like this one from the Australian government. It’s a step in the right direction, but it might still take more effort to see a real impact.
https://www.reuters.com/technology/australian-regulator-moves-curtail-criminal-use-cryptocurrency-2024-12-05/
Quote
Dec 6 (Reuters) - Australia's agency for monitoring financial crimes said on Friday it had established an internal cryptocurrency task force to identify and take action against crypto ATM providers that do not comply with the country's anti-money laundering laws.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) said its findings showed cryptocurrency was increasingly being exploited for money laundering, scams and money mule activities.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) said its findings showed cryptocurrency was increasingly being exploited for money laundering, scams and money mule activities.
They’re implementing stricter measures and controls on ATMs because there have been reports in the past of Bitcoin ATMs being used for scams.
https://nypost.com/2024/11/13/us-news/oklahoma-woman-with-parkinsons-disease-duped-out-of-20000-in-bitcoin-scam/
Quote
“She had been coached by this ‘FBI guy’ not to trust anybody and told the teller that she was having her house remodeled and she needed $20,000 — wiped out her entire savings account,” Jamie said.
From there, the scammer told her to go to a liquor store 45 minutes away in Ponca City, Okla. to deposit her savings into a Bitcoin ATM.
From there, the scammer told her to go to a liquor store 45 minutes away in Ponca City, Okla. to deposit her savings into a Bitcoin ATM.
If the government doesn’t take it seriously, this will become an endless cycle because scammers are constantly innovating their methods, and they often target vulnerable groups like the elderly.
I don't know if you are noticing, but the government system does not talk about these billion-dollar scams that are happening nowadays. However, if someone from another sector seems calm, they work on it but do not pay attention to these billion $ scams that are becoming like this. Are they not paying attention, or are they keeping quiet even after seeing the situation of this scam?When scammers see that no action is being taken against them even after committing scams, they get more opportunities, and they adopt new methods to commit scams and continue to commit scams. Do you think the government system will do anything about this today? They are unwilling to open their mouths about this scam, so how will they act on it? If they do not take action, the rate of scams will continue to increase.
I’m not sure how the government plans to address this issue, but they need to act, especially since these scams target the hard-earned money of the elderly. Many of these victims lose their life savings, which are often meant for essentials like medicine, rent, and other retirement expenses. With just one wrong move, scammers can take everything from them, leaving them in a vulnerable position. It’s a serious issue that needs attention.
I don't think the government will take this seriously and will take action because I believe most governments have already warned people not to get involved or not to rush into investing in cryptocurrencies because of the potential risks it brings. But most people ignore and do not pay attention to warnings from the government, many even evade taxes. Most people look down on and ignore the government, people only seek help from the government when they lose money, if you were the government, would you help them?
So I think that protecting property is a personal responsibility and each of us should learn how to protect our property instead of relying on the government.
If we want to be protected by the government, we need to obey their regulations, pay our taxes properly...how many of us will do that?
A government will first of all be crypto friendly before we will talk about them looking into the areas of crypto education for their citizens. What I know for sure is that they're more focused on the regulation aspect because that is where they generate income from. I believe that most governments don't feel comfortable with a decentralized digital cash like Bitcoin, which they can not fully control, so sensitizing their citizens about the dangers of crypto scams and hacks might not be a priority to them. The way I see it it's in the hands of crypto holders and intending crypto holders to research and equip themselves with the knowledge of cryptocurrency, 570626 how to protect their coins from hacks.
What do you want the government to do about the cryptocurrency hacking? Hope you know that some government are not happy the way cryptocurrency is spreading on over the world, because people are now prefer to store their funds on cryptocurrency to hope for a brighter future. We know that if you display your personal details to your family members or your love ones in the environment, they will take advantage of that relationship to hack your wallet to steal your funds in the future, because he or she have the details to have access to your coins in your wallet. If you are waiting for government to find solution to this area of hacking people cryptocurrency in their wallets, I don't think government will do something positive in that aspect, because they pay more attention to centralized currency issues they are controlling in the country than decentralized currency they don't have the power to control.
government will probably tighten the rule more and impose mechanism to rever loses for these hacking incident such as making things difficult for withdrawal and so on, defi might be loosely regulated still but exchange will definitely put more measure.
it's been a problem but good thing is, crypto developers finally realized of such threat and right now there has been rarely case of such hackings, the one that's still running rampant is phishing and scam, but I don't expect this one problem to be solved very soon, it's akin to scam phone call, hard to get rid of.
it's been a problem but good thing is, crypto developers finally realized of such threat and right now there has been rarely case of such hackings, the one that's still running rampant is phishing and scam, but I don't expect this one problem to be solved very soon, it's akin to scam phone call, hard to get rid of.
When you say that most of this happens due to poor security, I then think that it is personal and the government will never step in and solve the issue because, in the first place, they had already given us a warning. That is the very least they can do. It all lies in our hands as holders and investors on how to protect and improve the security of our funds.
It really has a huge negative impact on adaptation. That is why we can't urge people to invest and adopt bitcoin when they never feel safe and comfortable.
I fully agree with you that security is our own responsibility particularly when we invest in cryptocurrencies. Governments can give us warnings and rules but it is up to each of us to take action to protect our money. If we have not having good security can stop people from using cryptocurrencies like Bitcoin. If people do not feel safe investing in Bitcoin they would not use it. So it is very important for investors to make security priority first. So best thing is to use hardware wallet and always use a trusted and up to date device. By doing these things investors can help people trust cryptocurrencies more and use them more widely. It really has a huge negative impact on adaptation. That is why we can't urge people to invest and adopt bitcoin when they never feel safe and comfortable.
Basically, it is already illegal to do this, not like they are using some loophole in the law or something, it's illegal. So if you can find who these people are, you can sue them and they will be jailed. The hard part is that in most cases these hackers are smart to cover their tracks, and our expectation from the governments around the world to figure out who did this because it is not local neither, so all governments have to do it.
Most of our concerns are not about criminals, what they do and kind of legal punishments they will face with eventually. Our main concern is that governments will try to take advantage of criminal activities for discussing, plotting and enforcing more and stricter regulations on Bitcoin and cryptocurrency market, blockchain industry.Their policy changes this way will affect all of us, who are not criminals and don't actually care about criminals. If we can contribute to help reducing criminal activities, help governments to arrest criminals, that's good, but regulations with greater impact on all people are very bad. Governments, unfortunately, will not care about that, if they can have more power and more control against citizens, they will do it.
Basically, it is already illegal to do this, not like they are using some loophole in the law or something, it's illegal. So if you can find who these people are, you can sue them and they will be jailed. The hard part is that in most cases these hackers are smart to cover their tracks, and our expectation from the governments around the world to figure out who did this because it is not local neither, so all governments have to do it.
In the crypto world, someone from X nation could stela from people in 100 different nations, so even if your government chases to find who it is, it could be not in their nation. Trying to make the whole world look for the same person is a difficult task and requires much more than just some scammers and a hacker.
In the crypto world, someone from X nation could stela from people in 100 different nations, so even if your government chases to find who it is, it could be not in their nation. Trying to make the whole world look for the same person is a difficult task and requires much more than just some scammers and a hacker.
Do you think this kind of news could impact Bitcoin adoption in the future? Because if you look at the trends, crypto related crimes has been steadily increasing year by year. Despite governments tightening regulations, it seems like those measures haven’t had much of a positive effect, at least not according to the numbers.
The market and the community have been immune to this kind of news.So, the real question is, how can they educate people to minimize these crimes? Teaching users proper security measures could do more to protect the crypto ecosystem than simply imposing regulations.
They cannot teach them at all times. Awareness should be there but when people and educators are already and they can't help and complement each other, that's when they're hard to help. Even if you have the desire to teach them all, give the tips and ideas on how to avoid scams and hacks but if they are not applying what you teach, that's nothing still. 
I like the idea of knowing this data regarding hacks, but to take it from there to a topic of discussion on the idea that governments or that they should educate about the measures that should be followed, I think it is redundant and taking the idea of discussion out of context, a hack does not necessarily have to do with the imprudence of a user, it has to do with the fact that systems are vulnerable and will always be due to human "error"... therefore, precautions will always have to be taken no matter how experienced you are in the field of security. So do not expect the government to take care of you or expect to do something for you in terms of the security of your assets.
https://www.reuters.com/technology/losses-crypto-hacks-jump-22-bln-2024-report-says-2024-12-19/
Do you think this kind of news could impact Bitcoin adoption in the future? Because if you look at the trends, crypto related crimes has been steadily increasing year by year. Despite governments tightening regulations, it seems like those measures haven’t had much of a positive effect, at least not according to the numbers.
I’ve been in crypto for a while, and news about hacks is still pretty common. Most of the time, these incidents are the user’s fault, like poor security practices. It feels like this is an area governments haven’t fully explored yet.
So, the real question is, how can they educate people to minimize these crimes? Teaching users proper security measures could do more to protect the crypto ecosystem than simply imposing regulations.
You need to know that many of these hackers are not even interested in checking on you but always keeping there eyes on big exchange or crypto firms. Every investor need to be sensitize on how to make sure that there crypto portfolio is safe from possible hack or scam. We ought to take care of our crypto investors so we don't become ignorant of what's happening in the crypto space. More regulations do not mean that there is not be hacking or scams. The regulations is mostly towards Bitcoin operations by crypto firms. Does regulation has any influence on mere users? I don't think so! Quote
Dec 19 (Reuters) - Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday.
The hacking amount exceeded $1 billion for the fourth straight year and the number of incidents rose to 303 from 282 in 2023, it said. Hackers had stolen $1.8 billion in 2023.
The rise in crypto heists comes as bitcoin BTC= jumped 140% this year to surpass $100,000 mark, drawing institutional participation and backing from U.S. President-elect Donald Trump.
The hacking amount exceeded $1 billion for the fourth straight year and the number of incidents rose to 303 from 282 in 2023, it said. Hackers had stolen $1.8 billion in 2023.
The rise in crypto heists comes as bitcoin BTC= jumped 140% this year to surpass $100,000 mark, drawing institutional participation and backing from U.S. President-elect Donald Trump.
Do you think this kind of news could impact Bitcoin adoption in the future? Because if you look at the trends, crypto related crimes has been steadily increasing year by year. Despite governments tightening regulations, it seems like those measures haven’t had much of a positive effect, at least not according to the numbers.
I’ve been in crypto for a while, and news about hacks is still pretty common. Most of the time, these incidents are the user’s fault, like poor security practices. It feels like this is an area governments haven’t fully explored yet.
So, the real question is, how can they educate people to minimize these crimes? Teaching users proper security measures could do more to protect the crypto ecosystem than simply imposing regulations.
More especially,this generation wouldn't want to have any clashes with Bitcoin because they're fully aware of the impact with financial technology and financial advancement.Generally,awareness is what Bitcoin needs most but there's a spark amongst incoming crypto enthusiasts that keeps them wanting to explore more of Bitcoin.
Educating yourself will indeed give people empowerment on how to do things. With how we learn tpday is quite easier than older days. The internet alone will be your bff when it comes to your source of information. But should know how to filter and go to valid sites in order not to deviate from facts.
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