Bitcoin Forum

It is known that on the internet we can see multiple scams referring to cryptocurrencies, such as ICOs or signal programs for traders. For this reason, the signature of the well-known platform called CipherTrace has taken the liberty of announcing the “Defenders League” program by playing the role of an antibiotic for this problem that is becoming more and more frequent on the internet.

This program consists of providing a preparation and cryptographic tools to investigate and learn more scams related to cryptocurrencies. It is for this reason that CipherTrace has announced partnerships with the Middlebury Institute in London and the Blockchain Acceleration Foundation (BAF).

According to CipherTrace The cost of robberies, scams and fraud had already reached more than $ 4 billion by the end of the third quarter of 2019, emphasizing the urgent need for adequate solutions to be brought to the market to combat cryptocrime and protect individual investors . Jefferies said:
"Together, the collaborating entities will train students with training and tools to investigate cases of scam and fraud related to cryptography, helping to make the crypto economy safer for everyone."

However, it is known that there are measures to protect against scams, nowadays it is very easy even for a scammer to get into our accounts and steal them, simply by clicking on where they shouldn't be.

What do you think of this measure to prevent scams with cryptocurrencies?

 Have you ever been scammed with cryptocurrencies, how was it?

https://cointelegraph.com/news/sec-requests-telegram-banking-data-as-new-evidence-emerges

I'm not advocating crime, but has anyone ever seen a report that shows the estimated value of how many theft involving Hyip/ponzi sites have? What is the value of theft involving hyip/ponzi sites? Credit cards are also theft targets, this is not just a problem of the crypto world, it is a general problem. If there is money or anything of value, then scammers will be around. In the case of the crypto world people need to do more research on the projects that will invest money.

I would say it's a great initiative by CipherTrace. The volume of crypto related scams and thefts are rising at an alarming rate and has to be stopped at any cost because these scams/frauds are indeed spreading negativity about cryptos worldwide and that's not a good thing to have! It certainly calls for a team of trained blockchain professionals specializing in fighting scams. It is very similar in a way when we have seen a rise to the "cyber crime professionals" from the beginning of this decade! Now every company houses a team of such professionals for their own sake!

What surprises me is that, there is no mention of such program in Ciphertrace website. Neither the same can be found in the website of Middlebury Institute in London. What all I am getting is the link of various crypto related websites. Can you please redirect us to a proper address where the details of this programs can be fetched?

There are hackers everywhere, only that it is more common in these cases because we talk about ICOs, fraudulent airdrops on telegram, it is much easier to steal when the victim presses a link. and yes you should carefully review what to click, and what project you want to belong but some may be very well prepared with credible budgets but they are still scams, I say that the line is very thin, it is better be recommended by a person who verifies that the project is real

Though they might be doing this out of good will, tracing the transactions can only go so far as due to privacy technologies like Coin Join. I'm personally more for educating the masses as to prevent hackings and scams in the first place; pretty much the "prevention is better than cure" approach.

Good luck to them regardless.

that agreement is being developed, as for the page I think it is under maintenance, when available I inform you

I am agree with you bro. This is not about the cyber world only but also in real world. Crimes is totally may occur everywhere we have to be careful and be an observant to avoid in involving this crimes like scams schemes and hacked accounts coz we are the one's who is responsible in every action that we take and we are the one's who to blame whenever if we involve in hacking or scams.

I was once scammed by an ICO project and it took all my money in just 8 months. I am quite sorry because I do not have analytical knowledge about ICO projects and their actions. Fraudulent projects will often show signs of delay, failure to meet the set goals and especially not paying attention to the price of the token. fraudulent projects will have that in common and after the capital mobilization is over, they are also silenced and not develop any further. That's what I've ever tasted.

In my view, I think the majority of the known (and yes also the unknown ones) scammers are now doing business using cryptocurrency and this is a big shame because these are the people that are putting down the good name of this industry down. We should really be doing something on this, we can all contribute something no matter how small in giving warning to as many people as possible especially the newbies never to be a part of the statistics. We should be encouraging CipherTrace to maybe have a good tool that social media users can use in detecting scams and sharing the warning to their friends in just one click. Maybe Facebook should also adopt something of a scam detection and warning system. I pity the many victims and future victims of the many schemes out to get the hard-earned money of the people.

I just hope this is a legitimate information, and not scammers trying out another method using the name of this website and institute respectively. I don't know how long they have been working on this, if they actually are, but this attempt to try and investigate and recover cryptocurrencies after they have been stolen may be a difficult endeavour.
I second this, prevention is a more feasible idea in preventing crypto scams, as for detecting and recovering them when the deed is already done, that is on a totally different level of difficulty and I don't know how it'll work.

So are we supposed to install some kind of ciphertrace program to antibiotic ourselves? Trust another centralized platform to take care of us?

Scams cost people money in crypto because mainly centralized companies are being careless and not practicing proper security. Of course, users are to blame also for putting money on exchanges so better teach people to keep their own wallets first.

Yes i encourage this idea because the scams are now more frequent and it has a negative impact on crypto and bitcointalk is a live proof many people has lost their crypto by investing in ico's that turned out to be scams.

You really don't need some kind of fancy superhero league to train people in crypto scams. Crypto scams are totally the same as any other normal scam.

Teach people how to fish, not how to fish for a particular fish. Teach them basic personal internet security. Get people to improve their habits online and it will apply to crypto.

How do you tell people about private keys if they still use "password" as their password, for example?

Pretty much like what a regulatory board would do, but these time, there are trainees specialized for a specific market, and not the general economic business market. If they could pull this off, then we might be at the brink of a paradigm shift, wherein people and the government would trust cryptocurrencies more, which would eventually give way to easier adoption.

in scams there will definitely not be comprehensive data, because there is fraud that removes traces and also people who are deceived do not report it. but with this amount of data I think there will be progress to count the cases of recorded fraud, because there will be a new method in dealing with it that can be measured again the following year, will it decrease or increase.

The only scams I've been a victim of is of exchanges going bust taking my coins with it.

I've learned how to detect the possibility of exchanges going bust though: they usually hike withdrawal fees in a bid to get you to keep your coins on the exchange. And they usually offer things like lending or "safe boxes" where you can earn "interest" on your coins. Those things are also designed to get you to keep your coins on the platform, and is a sign they don't quite have enough for redemptions if everyone withdrew their coins.

People don't need to know everything. We need tools such as hardware wallets making it easy for people to safely transact without exposing their private key somehow.

In the end, it's impossible to not make people fall for scams as even scams become more refined and look less scammy. What helps to curb down on scams is to not chase yield left and right when you have to send someone else your money. If there isn't a viable trustless way to make money, there will be huge risk to anything you do.

From being scammed by banksters in the legacy system to being scammed by someone sitting at home waiting for you to bite. Same outcome. ::)

For me this is a good idea. Cryptocurrency scams are really rampant and since crypto is decentralized we don't know where to report these scams. These trained students are great help to solve problems like this. Its better to detect it before it can grow or spread.

Maybe it's possible but it will be too difficult particularly these days that scammers are getting wiser, they are capable on doing anything for the sake of money. They are seeking for various of ways to deceive and take advantage of people. They will surely search for an opportunity to scam people who doesn't have any idea to secured their funds and people can be easily derived by words and promises. It's the reason why we should be cautious before making any decision because one mistake can change everything and we are responsible to suffer the consequences of our actions. Well everything is risky, it's up to you on how you will manage and handle things to overcome the possible problems that you may encounter like scams and hacks issues. It's an amazing idea, i'm looking forward to see more information regarding that.

It is very obvious that scams in cryptocurrency world or even the projects that are promoting by some people are getting bad in terms of it's image and other related stuff just because of the past projects that had been happening right now. It is very great to know especially for us who are very rampant to be a victim of scam projects that there are some students who are training in order to become good in terms of analysis and analyzing if the project are scam or not. If they will be able to say if the project is scam or not then probably it would be less our dillema in terms of picking a project that we will invest in or promoting.

It is really good to know that there are students who studies about how to know if a project is a scam. Actually is very to know if a campaign or project is a scam because if it is a fake website you can easily identified by checking the link. All you have to do is to read the link and as I suggest always bookmark the link on order for you to have a reference and compare it to the mysterious link if there is any.

It is true that the issue of scam and theft target is a general phenomenon but it is no longer news that most crime committed through card theft can be trace and almost daily we hear of people being convicted of these crimes but scam emanated from crypto-investment and trading are difficult to trace and that is the reason most of those ICO Scammers are not caught. ones they scam investors, they delete and change the name of their telegram page and nobody heard from them again. Most HYIP/PONZI schemes are now using crypto as payment options to avoid them being caught

Most big crypto scams happen on centralized platforms.. But crypto is about decentralization or "be your own bank".  There are safe paths to follow in crypto world... If you venture out of the paths and something bad happens, whom do you blame? Probably better to use the govt-regulated exchanges and hope they compensate you quickly if something bad happens.
I haven't really be scammed before except for exchange hack, ignoring kyc & not able to withdraw my coins, and and an unpleasant experience with a failed crypto service (my first time of using Bitcoin/crypto). All three happened on centralized platforms.   I don't really save too much on centralized/custodial platforms. 

 I have been "scammed" multiple times on centralized (both crypto & non-crypto) platforms in a short period of time (within 5 years, I think ) compared to being scammed on decentralized platforms.

It is impossible to track all crypto fraud schemes because they become more complicated every day.

scammers will victimized as long as there are willing victims and that is the reality,we knew how risky crypto investing is and that is why we must required ourselves to make differ research fist before letting our money enter this market.

the problem is ,people are too greedy to expect income in short ways then this is why scammers success on this area.

Most of the time, scam is happening personally, if the scammers or group of scammers will work in a large scale basis, then studies and methodologies could work to detect it, but the hardest part is when someone innocent of being scammed becomes a victim of a scammer in which no other person or community could interfere. These kind of scamming is evident on social media platforms wherein, the risk is to accept a deal without further study. To prevent it, everyone should be trained to be knowledgeable about detecting scams and to avoid it.

Estoy de acuerdo. Cada persona que administra este tipo de cuentas, que trabaja con criptomonedas, no solo debe conocerlas, sino también aprender a proteger su privacidad, saber qué URL puede estar defectuosa, saber cómo analizarla antes de ingresar. Todos deben tener la responsabilidad de proteger su identidad.

Precisely. As long as there is something worth stealing there will be some scum who wants to steal it. People who support "fall" for HYIP/Ponzi are assholes and deserve to lose what they invested that is how they learn and stop being stupid. Some never learn and will fall over and over for it. People with so much greed are ruining the crypto world by giving support to crime which only encourages more of it. After all if no one entertained the scammers there would be none left.

Old post, but just in case you still want the info:

https://ciphertrace.com/defenders-league/