Crypto Crime is getting Worse, what do we do?

[Ressurection]

Well there is nothing much that we can do because sometimes i smell something fishy especially when it comes to exchange hackings. Just becareful on the sites that you visit and also never store your funds on exchanges.

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[Herbert2020]

2 things: demand better security from exchanges, or stop using centralized exchanges that control your coins and lose them.

a big percentage of these "frauds" are from exchange hacks (or so called hacks where the exchange fakes it).  so people have to start demanding the exchange to give them some sort of guarantee that can be pursued legally if they lost their coins. so that this can force them into coming up with stronger security instead of their silly methods that can be hacked this easily.
additionally we all have to eventually move on to decentralized exchanges. we are in a decentralized system after all and we have to have everything decentralized specially altcoin exchanges that don't require fiat nonsense and enforced centralization. it will also provide us with a much better privacy.

[rmilly]

I think having proper crypto companies that work on compliance AML like ciphertrace is a good start esp for exchanges. They aren't trying to stear people away from crypto just trying to be more smart

[mrdeposit]

It is impossible to remove these crimes completely. The most talented can accomplish anything in the internet realm. The internet is unlimited. But it is possible to take a little against with the regulations.

[powerman24]

Exchanges should take responsibility for hacking and refund their customers as majority of the most reputable exchanges do. Exchanges are not designed for holding your funds there, we should store our assets on wallets, preferably on hard ones.

[kaya11]

There are so many behind the scenes, under the hood, viable information that are disclosed to investors, traders and to most of us. These tactics includes exchanges themselves, if they want to steal from us they could do it anytime without us noticing. They could use dummies, hackers and hijackers that are either one of their own doings. It is better to keep away your valuables out of reach for them. That is why we should be trusting anyone at all including exchanges when it includes wealth. This cycle of fraud is just repeating, this should be just be stopped. Starting from us, ourselves, we should take more precautions, double our lines of defenses for us to avoid being a victim of theft. Sometimes we take this matter light and that should be change and we must take it seriously.

[BlackFor3st]

We cannot avoid this kind of action as it is part of our community already whether it is crypto currency of fiat, crime is always there.

This happening can be lowered if exchanges will upgrade their securities and scams can be avoid anytime. So what we need is we need to be more careful on what we investing to lessen this kind of happening.

[Supercrypt]

https://news.yahoo.com/cryptocurrency-thefts-fraud-hit-1-211446327.html

In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.

What can we do to help stop these from happening and getting worse?

Nothing much can really be done about this for now but just to strictly embrace the original nature of why cryptocurrency was made by satoshi, which is to be for payment, any company that wishes to join the blockchain industry should simply go and work for the money they wishes to use to execute their project as this is becoming too outrageous now.

We investors should not be giving ourselves headaches over these silly projects, we have been surviving before they came in to existence and we will continue to survive, they are the ones that needs our fund, so the good ones should come up with the ideas that flush the crypto currency of bad projects and scammer, IEO is already playing its role, but we need more than that to curtail this.

[BigBos]

I think things like this cannot be avoided other than being careful. not only on crypto, but almost all businesses also have crimes in it. however, we must be careful when choosing crypto that we will follow. this has often been done since 2013.

[meldrio1]

It is really risky if we put all our funds on exchanges or just holding cryptos... we never know that exchange that we use will be the next victim, hackers nowadays are smart how can they break the security?..

[eternalgloom]

It's actually pretty simple, just don't get scammed.
Most scams happen because people are stupid enough to fall for it.

If something looks too good to be true, it's usually a scam.

Don't keep your coins on any sort of wallet on the web, use either a hardware wallet or a secure desktop wallet.

The chance that someone will break into your computer, without you having downloaded any malicious software, is really really small.
Most scams happen because of mistakes that the victim has made.

[asus09]

https://news.yahoo.com/cryptocurrency-thefts-fraud-hit-1-211446327.html

In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.

What can we do to help stop these from happening and getting worse?

we will never be finished with criminal and scammer problems
this is a problem that we must overcome together and must be supported by many countries
especially big countries like Europe.
and to deal with hackers, this will always be there at any time because in this industry it is very high value

[madfox11]

I don’t keep my cryptocurrency even on top exchanges, all my funds are on a hardware wallet, so I'm not worried about cryptocurrency crimes

[smyslov]

https://news.yahoo.com/cryptocurrency-thefts-fraud-hit-1-211446327.html

In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.

What can we do to help stop these from happening and getting worse?

On exchange, do not store your coins there simple as that and on ICO do not invest in ICO unless you are 100% sure that this is a real project and they have huge potential but so far after 2017, there is no big or huge ICO right now that worthy to pour your money, gone are the days of Waves Ethereum and some other top coins who has done ICO.

[btcyoda]

Well there is nothing much that we can do because sometimes i smell something fishy especially when it comes to exchange hackings. Just becareful on the sites that you visit and also never store your funds on exchanges.

Crypto crimes are kept increasing not only with the exchange hacking but also with the companies who are launching the ICO's. Firstly they seem to very impressive at the beginning of their crowd sales but once they made some good amount of sales then they will start hiding from the community.

[alexsandria]

So bad that this happen and this in my opinion affect the price, i think people never but never should hold large amount on any exchange, if they will withdraw it on their wallet will be more ok, and just send them when they want to trade or to sell. And also who hold good amount of coins should buy a hardware wallet.

Well, basically, there are no reason why people especially, the investors will going to always withdraw their fund on the exchange. On the first place, they need to keep their investment to grow, and for withdrawing it after a profit, they just cut out their opportunity to accumulate more profit. That is why, we couldn't blame the investors but the team behind these.

[thaliaand]

I think one of the options which we can do is not to keep a large amount of funds in centralized exchange. We know that centralized exchanges are more vulnerable to hacking than decentralized exchanges even though the centralized exchange is popular and has a high level of security.

[d1ceplayer]

What we need to do now is to be very careful since we have been hearing this kind of news lately in the Crypto space, this exchanges should learn from what have happened and make sure they provide maximum security for the users of their platform so that this can really work, people are already getting scared of Crypto and we need to show them that Crypto is the best and them leaving Crypto is the worst idea that anyone could actually have at this point in time.

[H0USE]

https://news.yahoo.com/cryptocurrency-thefts-fraud-hit-1-211446327.html

In Q1 alone of 2019 there was $356m in theft of digital currencies from exchanges and scams while losses from fraud hit 851m. This number includes the QuadrigaX scam which accounts to about $134m in total losses.

What can we do to help stop these from happening and getting worse?

i'll guess it is hard to stop scamming from Exchanges when they have already been a centralized exchange, althought many people try to use Decentralized exchange but we can barely accept it when most of them are slow and high fees, so if we want to stop crimes, we better invest in a well known exchange or an exchange with high and clear security so that we can control our asset more careful than other exchanges.

[puertorikosena]

I think every user should pay more attention to security and be more attentive. As for hacking exchanges, the responsibility lies with the team that manages this exchange.