Bitcoin Forum

Someone close lost his bitcoin to some scammers who posed as an ICO project admin.
We have the wallet address but there's no way on planet earth to trace the fraudster offline.

Don't you think its high time , this is looked into.
There needs to be a way of linking account owners to their offline address .
This would mitigate  in no small measure the prevalence of frauds.

Bitcoin is a semi-anonymous currency, Bitcoin address owners are not explicitly defined but transactions are public.

i am sorry to say this but it is the person's fault for losing money and there is nothing others can do for him. the warnings are there and we have been telling you not to trust ICOs since they are scams but you chose not to listen and give in to your greed.
you gambled and you lost. now learn from that mistake and move on trying not to repeat it again.

I think that person wasn't aware of his own safety or I mean he is not that ready to get into this industry it is because of something wherein he has to blame himself because of his carelessness. I think we need to follow the golden rule which is "If in doubt don't." We need to always check everything we are going to transact most especially to all outgoing transactions. I am new in this industry but I am very careful because I know that transactions are irreversible.

It is possible to trace that person but you will need a lot of money and resources to use so you can catch the theft. Even big exchanges who spent millions of dollars have a hard time catching the culprit but there is no guarantee that the bitcoins will  be returned. So I guess let us just be vigilant and ready make some research and background check before investing on any ICO.

the worst is he trusted a fake admin of the project i wonder how people fall for these type of scam its really easy to tell. i wouldn't say Ico's are scam but he gave his investments to the wrong person. he'll definitely fall for other scam he cant even tell an easy one.

Of all reason why did he trust that person!We all know that scammers will do everything just to steal money from people!Pretending to be an admin why he didn't check on that project

Welcome to the decentralized world of crypto, this is how it works.
If you don't pay attention, you will get eaten.

Quite unfortunate this could happen to anyone but then each project have social media that are properly managed as well as websites to get all necessary information, so why dealing with someone privately. It is fault of your friend though as all needed info must have been stated on the website.

Big price to pay for anonymity vs centralisation.

tracking the owner of a bitcoin purse until now nothing has worked, with whatever fund you track it all will be in vain, even the computer experts in the world have not been able to solve this problem.

Winklevoss had to resort to a special storage facility called the cold wallet. It is an electronic wallet that is not connected to the internet without being activated, so it can be safe from hacker intimidation. It is our great protection that we should learn

It is very important to ensure the security of any account and the main job. If there is no security, Account has no value. It can be hack anytime by hackers. In this case, you need to use various security walts for security. Because define your assignment on security. The stronger your security is, the better you can be.

The unique of cryptocurrency is the anonymous features of it. A lot of people are attracted to bitcoins due to the fact that they can remain secret online and offline with their transactions.

Invest in a new token, in a new rising project it's always risky.
What is this ICO? Can you post the bitcoin address so we can track transactions?

Anyway this is not a question related to bitcoin security. People should made their search before made any investment and not risk with un-secure products.

Yes, this will certainly increase security, but this will reduce popularity, as bitcoin may lose its anonymity.So why do something that negatively affects the whole.

You can trace the bitcoin transactions, but you don't know who owns that bitcoin address.

Mostly ICO's are scam, there are some legit ICO's with a real project, but most of them are fake, if you going to invest your money why not stay invest in bitcoin instead and hold them for a long time then sell or you can invest in other coins that already listed on CMC because if you invest to them I am sure you can make profit if you know how to trade.

For now, those scammers and hackers can use mixer to hide their transaction activity and even professionals couldn't trace it easily so if you are planning to trace them better to stop it immediately because it's a waste of time.

Sometimes they are scary people to keep their own key because they are afraid of losing it. I am sorry to say this but it is the fault of that person for losing money and nothing else can do for him.

That is really so sad. You have to be always be careful about scammer. There are many scammer around us. So always be careful and avoid them.

Yes, this type of frauds are getting increase day by day and even I lost 0.01 BTC to a person who cheated me through craigslist.org where i though i could exchange my bitcoins with some other altcoins. There should be some application or registration process for some big dealers who indulge in exchanging bitcoin and other cryptocurrencies. Localbitcoins.com has come out a big website and the escrow system is really a good system to put into work and i think you should only use this website if you dealing bitcoin with local cash withdrawal.

Bitcoin vaults are actually guaranteed if you are holding your own key. Security is very important to us, especially for those who are holding a large amount of bitcoin. I'm sorry to say this but it's the fault of that person for losing money and nothing else can do for him. you gambled and you lost.

Every users need a security to their self and account to avoid hacking. Nowadays the technology now is hi-tect you can easily access any information that you want to know, you can hack account if you have an information and knowledge about that you need to use various security walts for security and get a hard and strong passwords to didn't lost your account.

To enable the important two-factor authentication security feature in addition to note also whether the provider's wallet provider's security path has a strong login feature and can be sure to be completely secure when we store bitcoins.

It can be done but highly unlikely to be implemented. One of the characteristics of crypto is it's anonymity. You also benefit from this but at the same time, as with your example, it can be your undoing. I believe if the majority is to prevail it would be to retain this as it benefits most people. Too bad most of them are scammers.

It is very difficult to trace the owner of this address. And the only thing we can do is be careful so that it will not be repeated again. We must learn from the mistakes so that we again foolishly.

It is already a risk if you invest in the world of cryptocurrency, so better check a project carefully before you follow the project

in most cases we have to be care with this project of a thing. that was how my friend too was also scammed and made away with his bitcoin. in summary we have to work with multiple hand to know if actually the person is the right person for that projects.

You propose to link data on the owner of the crypto currency to the wallet, and this completely contradicts the principle of the crypto-currency industry. The main advantage of crypto currency is its anonymity. Just be more careful and no one will steal your bitcoins.

Sorry to say that it is the owner's fault. Owner should have been go through the warnings. Trusting the ico's are not a wise decision.

Now a days there are lots of spammers who are are appearing as the ICO project admin. People should check their projects before investing .

This the worst thing of decentralization world. In this world you need to open your eyes or you will surely go through this worst thing.

Well its a nature of reality. If you believe in something without checking you will face a disappointment. I suggest to the newcomers first you should go through the regulation. Learn first then make money.

the security in bitcoin is to have proper understanding about what u are about to enter into because that is what will keep you secure and give you a guideline of what and where you are going  in the project.
 

I think your not referring the bitcoin wallet address but you are referring the Private Key. Bitcoin wallet is really secured if you are holding your private key. Sometimes their are people who are scary to hold their private key because they're afraid to loss it. Securit is important to us especially to those who are hodling big amounts of bitcoin. I will likely to recommend 2FA Authy or Google Authenticator if we are holding mobile wallets.  

security in bitcoin must be very safe, if it is not safe our coins can be collapsed by the coin thieves, use double security so that our coins can be safe, and our coin thieves can steal our coins that have been stored in the wallet.

When there is fraud, it is already a risk, all work must have a risk, depending on our own choosing a good Ico.

I believe that the btc wallet owner must ensure that his wallet address should be on a safe zone. As we all know, there are many hackers around the world and all they will target are those having loopholes and therefore each and every should have to ensure proper safety measure on your btc wallet.

I think it is impossible for you to do that. Better use some security related applications or ledger in order to decrease the chances of getting hacked. Because it is true that there is no way that you can really trace hackers here so all you have to do is stay cautious and be careful of links. Fake ICOs are also popular in cryptocurrency world.

Security is extremely important for both bitcoin and altcoin!
Take the private key, you will lose everything!
Be careful when using personal info and wallet.dat file!

Well we must be aware of those scammers to avoid scam, they have different kinds of techniques just to get what they want, phishing etc. Just be carefull clicking some link that been sent from strangers, be cautios and most of all be wise.

This is actually true. Wallet Address doesn't have any name of it. So we really don't have a way to trace the fraudster.


The only way to link them is through blockchain. There's chainanalysis, but it has a limit as well. If this fraudster uses what we can mixing services, then its really hard for the authorities to track them down. I do hope that this is another lesson we need to learn and very expensive one. Just don't trust anyone, specially ICO because its very prevalent and 90% are all scams.

If you don't take precautionary measures about your accounts then you will become a victim of this scammers and sometimes also hackers.stop communicating to those you don't know,stop entering links that has nothing to do with your concerns from tht you can lessen the opportunities of becoming a victom of this damn people

What do you mean by "traced" trace his wallet address transaction or trace where he is and to know his real identity? you could always trace someone's wallet address transaction in the blockchain, but if what you are going to do is to trace his location then it might be a difficult thing to do, that is not going to work just like that, you are going to need more plans and steps to locate that scammer.

if I think bitcoin itself is seen as a safe asset like gold in developed countries like Japan and Europe and bitcoin has various advantages, especially on the security side, so in my opinion, bitcoin blockchain is almost impossible to hack when we hold the key and store it safely.

All in all, bitcoin is more secure than most existing financial services, including legacy banking platforms like SWIFT, which has been compromised repeatedly by hackers.

Use two-factor authentication for greater security of your tokens. Bitcoin is anonymous, but transactions are visible to everyone.

it was his fault he was a little bit careless, everyone who have been hacked cant do anything about this.

Security on bitcoin is really important especially our wallet account to avoid hacking put your coins into safe place and make a password that hard to guess.

Unfortunately there is no way for your friend to retrieve his money. Once they are gone, they are gone. Investing in ICO's today is very dangerous. It's easy to get scammed.

Everything has some security issue. Don't worry.

It will get better.

Stay sharp.

Well....I think if that should be put in place, then I think bitcoin been anonymous has been jeopardized. I can and should say that bitcoin should remain anonymous because if it doesn't then the whole crypto is in jeopardy.

I would probably suggest 2FA Authy or Google Authenticator if we are holding a wallet. Get your own key, you will lose everything!

First thing you will remember in crypto is the security, because you are investing and we all want to become our investment to be secure. some company or projects offer good and well trusted in talking about security.

Bitcoin or crypto industry is all about self-responsibility and when we call it a system based on decentralization, there is also the responsibility along with the power. One should do some research before taking any decision as we all know that crypto transactions are irreversible.

I think it's impossible for you to return your money. You better forget that money! Because it's true that there is no way for you to track hackers here so all you have to do is stay cautious and be careful of links. Fake ICOs are also popular in the world of cryptocurrency.

You won't be able to know who they are unless you know their exchange wallet address.
When they want to wd the stolen bitcoin, the exchange should have prohibit it so they cannot withdraw either in crypto or fiat.

If you don't learn from others, you learn it hard way. Take it as a lesson and move on.

Learn from that experience and always be careful. There are lots of frauds and scams. We must be cautious enough for every transactions and activities.

one of the characteristics of bitcoin is decentralization, bitcoin users can use it as they wish. other than that it is anonymous. so if it's changed, the characteristics of bitcoin are reduced. and that will affect the user. so in the crypto world you have to be careful. because fraud is around crypto users.

Cryptography controls the creation and transfer of a cryptocurrency, and the protocols underlying bitcoin have proven to be robust. ... Bitcoin exchanges are not regulated by the government, and they generally do not provide enough insurance and security to be used to store money in the same way as a bank.

It wouldn't be decentralized anymore if there's a way to link the owners identity to the wallet address.

Scams are rotating not only in the forum but in the crypto community whereas they are targeting newbies that aren't familiar with their schemes.  Just be responsible of investing your bitcoin and much better if you stop investing to ICOs as most of them are scams today.

I dont think that's a good thing for trading. because they can issue fake certificates. The best way to find an organization as an endorser between transactions. That would probably be best for us to avoid scams.

I can say 70% is currently fraudulent and we must be smart and careful if we want to invest in Ico, we do not encourage everyone not to invest in ico, because I still believe in the ICO project so I still participate in the Bounty campaign , I always hope that the project I follow is ico who is successful, not cheats

security for bitcoin is very important and the wallet that we use, to avoid hacking must be careful when opening the web don't open a fake site, and secure your private key so that no one knows it.

I would say higher than that, probably around 80%-90% are fraudulent and will scam those investors that's why putting money in ICO takes a lot of risks on our part. Bounty campaigns has also risk, what if the bounty is a total scam as well?


I think we also repeat ourselves about protecting our private keys. It is the worst that can happen to everyone, you got phished, hackers took all your tokens and coins. So protect it at all cost.

Every bitcoin transaction can be done and completed without any personal information. Transaction information is still valid but your identity is completely confidential. Because of the bitcoin's anonymity and unmanaged, criminals can use this currency as a trading method. Hackers may be trying to attack multiple bitcoins to steal large amounts of money and money laundering can happen easily.

one of the problems that exist in crypto or bitcoin is a matter of security. often found people lose some coins and money. he learned about hackers who are now very smart. we must always check it.

Alerts are often discussed in this section, and we have told you to analyze the ICO project before you choose it, because there are many ICO scams at this time but you choose not to listen and give in to your greed. If you have been hit by an ICO scam and you lost your money, it is very difficult to find the address of the scam ICO manager.

Crypto-currency and was created to ensure that it was anonymous, of course, and scammers use it to do this or not have to do it. Just need to protect their wallets in different ways, read on the board of advice a lot

The fact is that people, especially those who do not develop much, are accustomed to using currencies, gold, and silver. They do not know much about e-currencies that are not taught by anyone, so they will be less likely to do manual trading and risk fraud

Lol! Probably they send it to someone that they knew personally and 2fa has nothing to do if you're the one who send it. It isn't reversible tho.

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We don't know what actually had happened but we can be certain that OP and his colleague easily trust this guy without further knowledge and assurance. Bitcoin transactions will never be linked nor be centralized as obviously nobody can do that and I'm pretty sure many will disagree thus anonymity and scarcity made bitcoin unique, after all.

not only fraud everywhere but lots of hackers who want to target our bitcoin. so we must always be vigilant and take care of the day to secure our bitcoin assets from theft

We should do some research before making any decision as we all know that the cryptographic transactions are irreversible. Take it as a lesson and continue. So if it changes, the bitcoin's characteristics will decrease. In the crypto world you have to be careful. Cryptography controls the creation and transfer of electronic money, and bitcoin-based protocols have proven to be robust. Bitcoin exchanges are not regulated by the government, and they often do not provide enough insurance and security to be used to store money in the same way as a bank.

Take it as a lesson and continue. Bitcoin is different than it is anonymous and that will affect the user.

It is not only 70% for scammed projects it will sum up to 90%, based on my experiences from investing to bounty hunting 90% of my joined campaigns did not pay. That must be my turning off point towards btc but then again i feel like the remaining 10% will be very great if i continue to which i never get regret of, trying will never be wrong.

the worst is he trusted a fake admin of the project i wonder how people fall for these type of scam its really easy to tell. i wouldn't say Ico's are scam but he gave his investments to the wrong person. he'll definitely fall for other scam he cant even tell an easy one.
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and also sometimes people are very new to this cryptoworld and so they get scammed easily. Nevertheless that shouldn't be an excuse, one needs to be very careful where he spends/gambles his money.

Glad almost all bounty campaign that i already joined they pay, even late or maybe have delay. Because if some project not pay (not include if the project not reach softcap so investor's fund get refunded) when they successed, it will affect for that project in future.

The bitcoin characteristics will be reduced and that will affect the user. because fraud around the crypto user. Bitcoin exchanges are not regulated by the government, and they often do not provide enough insurance and security to be used to store money in the same way as a bank. Phishing not only revolves around the forum but also in the encrypted community while they are targeting new people unfamiliar with their plans. I can say 70% is fraud and we have to be smart and careful if we want to invest in Ico, we do not encourage people not to invest in ico, because I still believe in ICO project because So I'm still involved in the Bounty campaign

Bitcoin will always be decentralized and cannot be change as long gone as the people will support it. The government may create a restriction or regulation but they cannot touch or modify the transaction inside the system of blockchain. 

There is no other person behind losing his money. Only alert to keep his money safe.It can not be touched with anything,where there is no security in your own money.

I think that now Bitcoin is not the safest cryptocurrency, and this is evident from the latest news. However, if you modify this gap, everything will be as it should

in my opinion, this is the policy of using cryptocurrency that is unchangeable! The best way to get rid of the scammers is not to fall for their tricks!

That is very unlikely. But it is best to cooperate with reputable managers and that will help us to avoid fraud. Although salary is less than other projects, we need safety.

Yes, bitcoin need security to the privacy for their important details, bitcoin wallet and also their coins because we don’t know the people have an intention to stab us to get our coins, so be careful and don’t easily especially to the stranger people.

That is the reason the KYC is introduced into cryptocurrency and at that knowing your customers becomes so easy and fast, most icos now requires there investors to go through this process before they can access they Wallet and found in all. And that has helped a lot to help trace account owners since their will have to submit they valid documents.

As much as i support your cause, i think what you are suggesting might just re-write what bitcoin is all about.

Agreed, it is high time that scammers and fraudsters be tracked down and punished, but then, it might just compromise the pseudonymity ideals of bitcoin.

So i guess, until we thought this through as clearly as possible, the best thing to do right now, is to verify (really verify) the person you are transacting with is not a poser nor a scammer. I'm sure there are tell tale signs to pin one. Add an extra care before trusting your bitcoin to anyone especially if it involves ICO funding.

Linking anonymous wallet addresses to people's actual names defeats it's nature of being anonymous. Anyways, wallets are pretty secure and people lose money most of the time because of their own carelessness, like in this case. Just take it as a lesson so it won't happen again.

If desired, the scammer can be found. For this, it is not necessary to use logins. Another thing is that the fraudster may be on the other side of the planet and no one wants to catch him. Whether someone needs it or not depends on the amount of damage.

security plays a very important, you should be carefull about your wallet security.
 That is really so sad. You have to be always be careful about scammer. There are many scammer around us.

it seems to me that everything goes for this and the cryptocurrency market will inevitably somehow be controlled

I think many people will against in if we link our profile to our account because we all know that many people have their privacy so I think it will be problem if we pursue the linking account profile. But, the point is do not trust anyone especially anonymous person and always check their account if they are real admin in their project or ICO.

Well for me i guess you should have or must have a back up key or save it atleast on some note, and don't trust easily that's one of the problem on our nation today but then again security plays an important role on our stuffs that must be protected and should be protected so i think always be wise , and conscious.

Until a bio-identification is introduced at any moment, the steeler can replace the exchange of clipboard

If everyone does not believe in ICO, you and ME cannot be here, I object if you call all ICO fraudulent, because I make a lot of profits from it, but for fraud problems it is due to carelessness and lack of analysis in researching ICO projects that will chosen.

security is very vulnerable is very vulnerable security is wallet and I am not aware of how raw and hopeful this is

bitcoin has always been a wallet and coin security problem often stolen by hackers and others and I realize it must be removed or resisted in a hard way so as not to harm us

security that must be intensified is wallet security which often happens is security that harms our finances and our wallet we must root out hackers hackers

Bitcoin is very unique and special.. many people are interesting to invest because of security purpose, nobody can crack it but everyone can see the transaction.

yes i totally agree with you

lost wallet security because we always active for access at not know some website link, we never looking how more safety of some website for access, many of us always joined airdrop project and give more fake and scam link for us, be careful with scam and fake airdrop project.

There are lots of scammers out there and we need to be very careful especially when sending funds to other people, it's his/her mistake because he just send btc to someone he really don't know meaning he didn't do strict due diligence and there's now way he can recover it because transactions are irreversible.

Only awareness can mitigate this scams, and most of the time awareness only comes when you get scammed first.

It is very important in crypto because it is online business. and transactions are transparency because it is fully based on blockchain technology.

its a crypto currency and need to be transparent. but in bitcoin theirs not authority we should focus on this concern too. 

well what has happened has happened, next time he should be extremely careful before investing in any form of ICO. there are lots of ICOs that are scam, so obserev closely before taking a step to invest in any because you cant recover any funds lost to scammers.

I think its hard to do in cryptocurrency world. We know crypto is decentralized system and everybody can open a wallet without giving any information detail about him.
Its really sad when scam always happen in this market but i am believe more people will more aware about this and they will start researching first before making any investment

In my opinion, it is very difficult to carry out security in the crypto world because even though we maintain our privacy, there are still irresponsible individuals like hackers who will certainly be smarter to track all our privacy. Maybe our crypto will be safe if the fraudsters are aware of what they are doing that is detrimental to others.

Yes it’s a very useful event for the future beca (http://yubster.com)use there have been a lot of scammers in ICO who claim as a team and admin of the ICO project. So don't regret if something like that happens next time I am sure you will be more careful to choose an ICO project so that it won’t happen again.

Bitcoin is a valuable coin, which is well kept in reserve, and has to keep an account for keeping bittacon and keeping its password confidential. If it knows someone else, then they can take it. So the password is kept secret.

bitcoin can make people get rich to invest in it or can make people fall into poverty because they can go bankrupt and as security guards it must be very strict so that people are not easy to take btc

The security system is always penetrated by hackers, with the aim of stealing crypto from penetrated accounts. So, e-wallet security must always be updated, because hackers can enter anywhere. For example, from a scam email or from the internet when browsing accidentally enters hackers' content.

Maybe you can give some address/proof of your transaction so it will be clearer what’s the name of the ICO project deceived you and the name of the scammer who claimed as the admin of the ICO project.
Then for our own bitcoin security we have to research first before making any investment so we don't get scammed. Because that's where we draw conclusions from severa (http://hafana.com)l teams of the ICO projects whether it is safe or not to invest.

Thats why it is very important to know and research first  the  project before joining. Scammers are everywhere, do everything just to steal your coins.  Crypto can make you rich  but it can make you also loose everything if you are not careful. Give time to learn crypto and have knowlèdge about it.

It is true that there is no connection for offline, but I also hope that it can be overcome as soon as possible, and we should remain patient with the price situation that has dropped like this.

Yeah, you are right. Learn from your mistake, lots of people today didnt think what they will do they just go with the flow at the end, they regret on what they do, just dont regret yourself, think in a good way.

it's very difficult, scammers always have many ways to make individual losses, sometimes they manipulate the market. so the market is not balanced.

until today, we can only have difficulty tracking them.

Actually you can track the fraudster wallet address if they sent their coins to the exchange address.
Most exchange requiring KYC to withdraw crypto or fiat currency in the user's account.
So, if you know the fraudster address and where they sent their coin, the exchange owner should know who is the fraudster.

Some people like to have privacy and what are you suggestion would be too much. Better to raise awareness and not get scammed.

There are many scammers in cryptocurrency, that's why we need to take extra cautions before we spend our coins.
I think ICO admin won't message you first in most ICO, you must message them first to avoid any kind of fraud.
Although we cannot trace the fraudster wallet, we can trace their address where they sent if they using ETH network.

ICO project is good if you find the real one.

It is our mistake if we have been scammed by the scammer who posed as ICO admin because it is a basic mistake.
Real admin won't approach you first, therefore we should not give any response to the peoples who approach us as admin.
We need to gain more knowledge about how to secure our coins in cryptocurrency to avoid fraudsters.