Cryptocurrency Scammers Are Making Fortunes By Ripping Off 'Greedy' Investors

[MakeMoneyBtc]

For hackers this area of cryptocurrencies is very profitable because they can steal a lot of bitcoins or other coins without getting caught because cryptocurrencies are impossible to track after they are stolen.
The important thing is what they are going to do further with those bitcoins because they can either run away with them and live a very good life or return some of them to the investors or even donate them to a charity or something.

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[BartS]

Wherever there is money, there are necessarily fraudulent schemes. Unfortunately, bitcoin could not avoid this either. It turned out on the contrary, with the crypto currency even more cases of deceptions. This is because users do not know everything about bitcoin and the attackers use it. Therefore, all owners of bitcoins need to study all known fraud options so as not to get caught!

And the problem with cryptocurrencies is that scams are even more dangerous and the reason for that is when you use fiat like credit or debit cards you have the possibility of getting back your money thanks to the banks blocking the transaction or reverting the funds to you, but in cryptocurrencies this is impossible once a transaction has been confirmed enough times it is impossible to reverse it and due to the anonymity provided by cryptocurrencies it may be impossible to catch the culprit in order to try to get that money back.

[johnnythunder]

Wherever there is money, there are necessarily fraudulent schemes. Unfortunately, bitcoin could not avoid this either. It turned out on the contrary, with the crypto currency even more cases of deceptions. This is because users do not know everything about bitcoin and the attackers use it. People don't only commit fraud with bitcoin but even making use of fiat currency.

[squatz1]

While this is something which is horrible to see, I do think that these hacks and scams are highlighted a lot more by the media (and normal people) because they're happening in crypto. I think that if this was to happen to someone with their normal FIAT, they wouldn't be hitting the news-- because it happens so much no one would even bat an eye or care about the problem.

It really does give us a bad name like this, hoping for this to end.

[loggin]

Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.

It is not always the greed, some get trapped because of their innocence as well.

I have seen posts here saying that one need not learn about bitcoins or any other alt coin as long as one is making money with investment. Such kind of approach may give returns one or two times but will lead to complete failure in long run. You need to research before investing your hard earned money in any project.

[BartS]

While this is something which is horrible to see, I do think that these hacks and scams are highlighted a lot more by the media (and normal people) because they're happening in crypto. I think that if this was to happen to someone with their normal FIAT, they wouldn't be hitting the news-- because it happens so much no one would even bat an eye or care about the problem.

It really does give us a bad name like this, hoping for this to end.

In a way you are right all of these incidents are highlighted by the media because they know this will bring viewers and clicks to their websites, however we cannot deny the truth that the existence of digital money has made for hackers and for thieves in general their lives a lot more easier, now they can steal fortunes from the comforts of their own homes and the risk of getting detected are very low, credit card fraud is rampant right now and I am not very sure that this is going to go down if bitcoin is accepted worldwide in fact I think the problem will go up because now the security will depend on your average person.