most "hacks" of bitcoin history have actually been the app developers or the CEX website owners deciding to retire to paradise and claim 'we been haxxed', then running off to a non extradition country
the result of such is regulators then implement barriers of entry for CEX sites where they need to audit themselves and show a certain level of competence running an exchange ethically
as for the dodgy wallet apps, well thats more of the arena of google play and applestore to moderate and ban any apps that cause user grievance
only a few contenders actually had governments step in (btc-e, mtgox, ftx)
Topic: When will the government look at this area? - page 5. (Read 814 times)
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.
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.
Education goes on everyday and you don't need the government to do that. Using this forum as a microcosm, we have regular updates on latest firmware to avoid and habits to adopt. Government regulation is aimed at gaining control, not protecting you. If the government want to run a campaign or event to teach people how to safely hold their coins, I'm sure they will do it along promoting their centralized exchange and claim it to the safest place to hold your coins.
So, I don't think people should wait from the movement by government because they're mostly too late and sometime they do it for their own gains.
It's more like a problem of not using the devices properly since they use it to watch short videos.
So, I don't think people should wait from the movement by government because they're mostly too late and sometime they do it for their own gains.
It's more like a problem of not using the devices properly since they use it to watch short videos.
The space is all about learning things yourself and being in control of most things by yourself.
And it should stay that way, in my opinion.
If the government want to run a campaign or event to teach people how to safely hold their coins, I'm sure they will do it along promoting their centralized exchange and claim it to the safest place to hold your coins.
So, I don't think people should wait from the movement by government because they're mostly too late and sometime they do it for their own gains.
It's more like a problem of not using the devices properly since they use it to watch short videos.
So, I don't think people should wait from the movement by government because they're mostly too late and sometime they do it for their own gains.
It's more like a problem of not using the devices properly since they use it to watch short videos.
Bitcoin is inevitable at the moment; adoption will happen no matter what. What the government failed to do is create awareness about security measures. What they have concentrated on until now is trying to collect taxes, discourage people from using it with heavy taxes, and strike regulations for crypto service providers such as exchanges.
I believe the main reason for this is people at the place of policy making are not capable of understanding the technology so they think it's gonna fade, maybe it need a generation to make changes at that level.
I believe the main reason for this is people at the place of policy making are not capable of understanding the technology so they think it's gonna fade, maybe it need a generation to make changes at that level.
I do think the case is how they view Bitcoin and crypto, it's mainly used by them currently for investments by the big guys, and why do they need to teach people something in that case?
They've got the machine going already, why bother with small nitpicks like security and awareness for the common folk?
Bitcoin is inevitable at the moment; adoption will happen no matter what. What the government failed to do is create awareness about security measures. What they have concentrated on until now is trying to collect taxes, discourage people from using it with heavy taxes, and strike regulations for crypto service providers such as exchanges.
I believe the main reason for this is people at the place of policy making are not capable of understanding the technology so they think it's gonna fade, maybe it need a generation to make changes at that level.
I believe the main reason for this is people at the place of policy making are not capable of understanding the technology so they think it's gonna fade, maybe it need a generation to make changes at that level.
The fact that scams are still growing shows that the government hasn’t implemented effective measures to minimize them.
I’ve even shared news about this before, probably involving one of the victims from the $2 billion total scammed this year.
=== $20,000 in Bitcoin stolen from a woman with Parkinson’s disease
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’ve even shared news about this before, probably involving one of the victims from the $2 billion total scammed this year.
=== $20,000 in Bitcoin stolen from a woman with Parkinson’s disease
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.
You know, it's already like that.
Scammers are going to scam, and we are going to hate them, but they will always be in the space - it's just a new era people need to adapt in.
And once this threshold is in the past, there will be fewer of them, and the scams will adapt too - becoming more coggy and hard to notice at first.
Why are you expecting government to step in? They will probably mess up more by bringing in some unrealistic regulations which will affect every type of users more than a hacking incident! To be honest, government won't be bothered about such hacking incidents unless some big corporates are affected by it. They simply don't have any such infrastructure to pinpoint and identify a crypto hacker. They will need help from outside agencies like Chainanalysis etc.
The education here is more important on how to keep our cryptos safe and secure. Again government is not much worried about it because the Banks will not allow them to do it. That's a huge lobby going on in the background.
The education here is more important on how to keep our cryptos safe and secure. Again government is not much worried about it because the Banks will not allow them to do it. That's a huge lobby going on in the background.
The fact that scams are still growing shows that the government hasn’t implemented effective measures to minimize them.
I’ve even shared news about this before, probably involving one of the victims from the $2 billion total scammed this year.
=== $20,000 in Bitcoin stolen from a woman with Parkinson’s disease
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’ve even shared news about this before, probably involving one of the victims from the $2 billion total scammed this year.
=== $20,000 in Bitcoin stolen from a woman with Parkinson’s disease
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.
Do you think governments would try to teach the people about what could be done to avoid such cases?
At the very least, they should focus on educating people. It doesn’t have to be manual teaching, they can create programs or campaigns to help these common groups of victims avoid falling for scams. The growing number of scams resulting in billions of dollars lost, it’s clear something needs to be done. Even simple awareness programs can make a big difference, because ignoring this issue only allows it to get worse.
Maybe you are right, and I think there are already not-profit / non-gov organizations or groups that are trying to do what you describe there, which is great, don't get me wrong - but the day the government would hop on on this track - lots of time would pass already. And I don't see it happening in the near future, simply because the government views the usage of crypto / Bitcoin as an investment tool currently, not something that would be an alternative for the common people.
Do you think governments would try to teach the people about what could be done to avoid such cases?
At the very least, they should focus on educating people. It doesn’t have to be manual teaching, they can create programs or campaigns to help these common groups of victims avoid falling for scams. The growing number of scams resulting in billions of dollars lost, it’s clear something needs to be done. Even simple awareness programs can make a big difference, because ignoring this issue only allows it to get worse.
Do you think governments would try to teach the people about what could be done to avoid such cases?
They would probably try to regulate / ban things outright first (what they already do, in my opinion), and only when this option would expire for good or be resolved for them in their minds (I do think it would happen in the years to come), they would MAYBE try to make things differently and cooperate with the crypto space and teaching about it more.
They would probably try to regulate / ban things outright first (what they already do, in my opinion), and only when this option would expire for good or be resolved for them in their minds (I do think it would happen in the years to come), they would MAYBE try to make things differently and cooperate with the crypto space and teaching about it more.
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.
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.
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