The biggest Crime in cryptocurrency

[alina345]

If the federal or central banks started carrying cryptocurrency from ICOs instead of cash I could foresee more banks getting "hacked" and essentially robbed in the future.

[Dr.Osh]

The dangers and stalking in the crypto market are always going on and just the carelessness you will pay and lose all. Hackers always attack us to steal information and Bitcoin.

yes, sometimes people forbid storing their assets on an exchanger because of this problem. sometimes this really affects many parties, even that can make a big loss, and make the price down. so many crimes can occur on the internet, and sometimes the biggest crime can be hacking in a market, especially a large market.

[tegarp90]

To avoid crime in the crypto world is indeed difficult, all depends on ourselves, do not be lured by the lure of ICO investment with a very large profit value, sometimes it is a scam. Keep searching first for where you want to invest in the ICO, track the team behind it.

Yeah it's depends in ourself, but if the security system builded with a great barrier, hackers will not able to steal our account.
So, people are must be more careful, and the security should be improved also

[cofinder]

As far as I know the hack of cryptocurrency exchange Mt. Gox remains the biggest one by the largest amount of bitcoins ever stolen. Over 850k bitcoins have been stolen that valued $460 million in 2014. At bitcoin current price, it is around $6.7 billion and its peak price it would cost $17 billion. Cybercriminals are actively hunting for cryptocurrencies inventing highly sophisticated tools and approaches. According to a report by a cryptocurrency intelligence agency, in 2018, hackers stole $1.7 billion worth of cryptocurrency despite the low value of coins. It speaks for the poor security that must be improved. Otherwise, we won’t see mass adoption of the cryptocurrency.

[btc78]

We've heard exchange getting hacked and millions of dollar worth crypto being stolen. 
Last year, Myetherwallet was exposed and hacker penetrated and stole alot.
Scam ICO made away with millions in recent years.
Crypto traders and investors are taking precautions so as to not fall victim. This doesn't guarantee Scam free Crypto space coz right now someone is being scam.

What could be the biggest Crime in cryptocurrency

Actually I don’t give a damn for this kind of issues as for me negative news only brings panic and bad impact to the community so i prefer ignoring such kind of topics ,though recently binance becomes another victim of hacking but I didn’t get the details since I am not interested

If the federal or central banks started carrying cryptocurrency from ICOs instead of cash I could foresee more banks getting "hacked" and essentially robbed in the future.

That’s about soul he in news but reality?we don’t know if there are some inside jobs happening?who should know right?

So what happens in future lies on how the security and assurance maybe

[ghost424]

There are a lot of crimes that revolves around Cryptocurrency. Users of Cryptocurrency are always bothered with being hacked and they are not doing a thing about it. They should stay vigilant when using websites that are not trusted and not properly endorsed. Some crime involves governments and for me, that is one big crime involving Cryptocurrency because not all countries are knowledgeable about Cryptocurrency and it may be possible for users to abuse it in that country. It may be manipulated in a wrong way and might be used to gain more power thru wealth.

[cabron]

As far as I know the hack of cryptocurrency exchange Mt. Gox remains the biggest one by the largest amount of bitcoins ever stolen. Over 850k bitcoins have been stolen that valued $460 million in 2014. At bitcoin current price, it is around $6.7 billion and its peak price it would cost $17 billion. Cybercriminals are actively hunting for cryptocurrencies inventing highly sophisticated tools and approaches. According to a report by a cryptocurrency intelligence agency, in 2018, hackers stole $1.7 billion worth of cryptocurrency despite the low value of coins. It speaks for the poor security that must be improved. Otherwise, we won’t see mass adoption of the cryptocurrency.

So far that's the biggest, the previous Canadian exchange and cryptopia is just a small percentage compare to it. Wait for a little longer, we'll see the biggest in the history that could ever happen, centralization is always going to screw us all and if a famous exchange suddenly get compromised it would be a record breaking. It sometimes happen the least we expect.

[partysaurus]

I can think of a lot of things but the infamous Mt. Gox hack was, for me, the biggest crime made in the cryptoworld. Not only does it expose a lot of flaws and vulnerabilities of the then young cryptocurrency but it also projected the dangers of having to entrust one's funds into a centralized exchange/entity. The next in line would have to be Silk Road, which was operated supposedly by Ross Ulbricht, which, again, informed the world about the possible use of bitcoin in the criminal underworld due to its pseudo-anonymity, hard to trace transactions and its overall qualities which is pretty much helpful in remaining anonymous while transacting with other people.

agree with that think no crime has had such a huge impact as mt gox, it pretty much send btc into a bear market for years. it was insane

[sehoon]

The whole concept of cryptocurrency was decentralization. But when the centralization was brought in. Then the problem begins. Can this be solved tho

The biggest crime in Crypto currencies are the fact that private centralized institutions hijacked the whole experiment and then caused all these problems. Satoshi did not want people to do P2P transactions via 3rd part centralized services, he wanted people to trade 1 on 1.

These centralized services used exploitable code and hackers and thieves quickly realized this and they targeted these vulnerabilities. So Bitcoin was not responsible for these hacks, but rather 3rd party <centralized> services with weak software.  

It can be solved. If only they have better software that could block this kind of things, then we shouldn't have problems even though we have the p2p transactions by the use of 3rd party centralized services. But I would still prefer if people trading in 1 on 1 rather than the p2p thing.

[BlackFor3st]

Scam and hacks are always there even without the presence of crypto currency. Do you think that banks are safe? How many banks have been hacks already.
Anywhere there is always a threat but what is the most important from it, is that the systems are keep on updating just to fight or at least lessen this kind of activity especially in crypto world.

But if we are going to tackle about ICO's then it is the responsibility of the investors if they will fall a victim to it. They cannot blame someone from their actions therefore it is best that they will research all the necessary information first before investing to any ICO's out there.

[uneng]

The biggest crime in crypto currency are the fraudsters claiming they are Satoshi Nakamoto.
Besides that, I think it's hard to find the biggest scam. Fact is that there are a lot os scams in crypto currency and only during the first quadrimester of 2019, thefts, scams, and fraud in crypto space reached to 1,2 billion of dollars! That is a lot of money!

[superscommessebitcoin]

Crimes that can be committed in crypto is hacking exchanges and wallets. This is if you do not take into account the fact that with the help of crypto, funds can be transferred for some other crimes.

[Netnox]

Cryptocurrencies are widely used to sell drugs, guns and porn. There are even marketplaces around the  dark web. They are illegal and at the same time pretty popular. I'm sure that internet drug stores have a huge daily volume of BTC that is passing thru them. Those numbers could be even larger than we've seen on those crypto scam reports and at the same time there should be a lot of creepy stories from the dark web where Bitcoin was used as a source of payment.

Large number of these dark markets have closed down recently. And in some cases, those who were running these sites were arrested and put behind bars. But at the same time, there are a number of normal online stores, from where you can purchase drugs such as Oxycodone and Diamorphine without any sort of prescription. And they accept payments in fiat, and not in crypto.

[uray]

We've heard exchange getting hacked and millions of dollar worth crypto being stolen. 
Last year, Myetherwallet was exposed and hacker penetrated and stole alot.
Scam ICO made away with millions in recent years.
Crypto traders and investors are taking precautions so as to not fall victim. This doesn't guarantee Scam free Crypto space coz right now someone is being scam.

What could be the biggest Crime in cryptocurrency

Never invest in any ICO period how elaborate they could explain about how it solves certain problems unless it is from a well known team with reputation, the wallet and exchange hacks are a thing you have to be aware because your coins are not safe with your not storing it in your own private wallet, so the best thing is to move the coins from exchanges after you are done with your trading and if you can take care and follow those then your investments are safe.

[Adriano2010]

I also think the biggest crime on crypto is when exchanges are hacked and a lot of coins are stolen and people lose money, and the second is the scammers who also steal people money. I think this affect the price of crypto and without them we could have now a bigger price.

[BitBustah]

Nothing will ever top Mt.Gox if you are talking about the amount of bitcoins stolen.

[velive08]

We've heard exchange getting hacked and millions of dollar worth crypto being stolen. 
Last year, Myetherwallet was exposed and hacker penetrated and stole alot.
Scam ICO made away with millions in recent years.
Crypto traders and investors are taking precautions so as to not fall victim. This doesn't guarantee Scam free Crypto space coz right now someone is being scam.

What could be the biggest Crime in cryptocurrency

this includes a crime, hacking is in the category of criminal burglary while the scam is categorized as fraud. if there is a legal entity that can handle this I think it can be resolved and included in the crime in cryptocurrency.

[Rufsilf]

I think as long as there are people who are evil and tries to scam and make easy money, they will be innovating all the way. .

That’s right! Whether we like it or not, those evil people are with us and they are doing everything just to steal from other people. Nowadays, scammers are becoming smarter each and everyday and becoming more creative in doing there thing without being noticed by most people. Thus, we should be very careful when handling our coins most especially on the internet because you’ll never know what will happen, you might be shocked one day when you check your coins have been zeroed out.

[olamidey]

Mt Gox is still a shocker to many. There have been past scams and there will still be Future scams. The major thing is to protect your funds from being hacked. Avoid leaving money on exchanges and don't be greedy. With this, you won't fall for scams.

[Netnox]

Mt Gox is still a shocker to many. There have been past scams and there will still be Future scams. The major thing is to protect your funds from being hacked. Avoid leaving money on exchanges and don't be greedy. With this, you won't fall for scams.

This is being told ever since the 2014 Mt Gox robbery, but crypto users continue to hold money in exchanges. Dozens of exchanges have got hacked since then. I learnt my lesson after losing my money in a few incidents. But the new users are going to hold their BTC and altcoins in these exchanges, until something really catastrophic hits them.