Crypto Crime is getting Worse, what do we do?

[dabenko]

There several ways we can try to avoid this scam, but until the best comes in, which is regulation, we have to act by ourselves by carrying out personal research before investing into a project and at the same time before using an exchange.
There are lots of exchanges these days that are being lunched, which means we have to be more careful. Not only with the new exchanges, but also with the old ones.

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[alexcopper]

Regulation is going to have to be administered somewhere especially in exchanges with fiat currencies. I think that if they hire cyber security firms that understand and are pro-crypto then it saves a lot of  people's asses

[Nasonn]

Anonymity of crypto is proving to be a major problem in addressing the lots of crypto related crimes since you can hardly trace transactions on the blockchain to a real person.

[salad daging]

is the data valid? if so then it is a very surprising fact, I know this is a very large number even though the scale is also large, it really harms the world and if this is not immediately corrected the crypto impression in the eyes of the world will get worse, there will be many the more rejecting and crypto will make crypto be further from its original function or purpose, which is to be the currency that we can use as payments everywhere

[Dreamchaser21]

Anonymity of crypto is proving to be a major problem in addressing the lots of crypto related crimes since you can hardly trace transactions on the blockchain to a real person.

Transactions can be traced but its hard to know the real owner of the wallet, maybe this is why KYC is invented. The crime everyday is increasing, and this market is also a place to commit a crime, it can be prevented if there’s a regulating body and have a good system to keep this market better.

[efxtrader]

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?

Its really bad because happen in new market like cryptocurrency. If this continuing happen, i think investor could loss their trust on crypto market. New investor should make research first before make investment and its much better to store our coin or token in our own wallet because hackers always want to hack exchanger

[Serco]

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?

Its really bad because happen in new market like cryptocurrency. If this continuing happen, i think investor could loss their trust on crypto market. New investor should make research first before make investment and its much better to store our coin or token in our own wallet because hackers always want to hack exchanger

several months ago since we heard many exchanges hacked , investors prefer take their money from this market although they getting lot of loss.and exchanges now improve their security level by adding new feature to prevent illegal login.and now its look like shows good improvement.

[kynaz]

There's a lot of theft on exchanges, hackings. So sorry for those who lost their assets there. Lots of scam ICOs too. There's nothing we can do about it but doing thorough research on where to trade and invest. As for me, I would rather put my assets in my wallet than leave it on exchange

Keeping the coin in your wallet is of course the safest, but if you want to sell coins you still have to use exchanges because that's where you need liquidity in this market. I think anything can happen to your property and cannot say anything because this market is very risky and we must check carefully when receiving or sending. I personally recommend choosing a hard wallet to ensure the best asset if you have long-term investment needs

[jdarren]

There's a lot of theft on exchanges, hackings. So sorry for those who lost their assets there. Lots of scam ICOs too. There's nothing we can do about it but doing thorough research on where to trade and invest. As for me, I would rather put my assets in my wallet than leave it on exchange

Keeping the coin in your wallet is of course the safest, but if you want to sell coins you still have to use exchanges because that's where you need liquidity in this market. I think anything can happen to your property and cannot say anything because this market is very risky and we must check carefully when receiving or sending. I personally recommend choosing a hard wallet to ensure the best asset if you have long-term investment needs

What are your thoughts on money laundering? Can that still happen outside of exchanges? 

[StarofBTC]

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?

Not rely to the centralized exchange site and DYOR. A lot of the funds have come from the centralized exchange site that getting hacked or something like that and basically that's bullshit. We should move to the decentralized exchange site and that should be the best thing that we can do now

It is very easy to say DYOR when you and I both know that it is not so easy to do, when we say DYOR, what exactly do we always imagine? How else will they do research other than simply basing their judgment on whitepaper, and if  they succeed in communicating with the project team that would have even given them the assurance that they are on the right path, it is not a guarantee that they will still not be scammed.

Scammers nowadays do not have to run  away with your money to get you scam, they come up with great projects and even get listed, but use the strategy of dumping the coins of these fake project don the market , so that people will eventually forget about it.

[lyks15]

This is worst scenario. How investors can attract to invest at bitcoin if that huge number of crime will happen. I think the solution of this problem is regularization and legalization to make some law to punish the crime performer. But I think this will be a long process so while it is not yet implemented you should not invest and not hold too large amount of crypto on your account or wallet.

[o.ogurlu]

I think we should be more careful and do more research for reduce crime in cryptocurrency. We should do research about the projects we want to invest and the team members of those projects. In addition, we need to prefer the safely exchanhes to trade. And most importantly, we should not share the private keys of our own wallets on any platform.

[Ucy]

I don't think it is anywhere close to the crime rate in the real. world.

We should all use decentralized platforms/blockchains more If we want to avod this kind of crime in crypto world

[Fredomago]

Anonymity of crypto is proving to be a major problem in addressing the lots of crypto related crimes since you can hardly trace transactions on the blockchain to a real person.

Transactions can be traced but its hard to know the real owner of the wallet, maybe this is why KYC is invented. The crime everyday is increasing, and this market is also a place to commit a crime, it can be prevented if there’s a regulating body and have a good system to keep this market better.

Regulations will help the investors to prevent being scammed, there's a lots of cases already where scammers dominates and steal people's money,
with good intentions regulations will help giving some breathing for investors who's afraid losing their money.

[lobat999]

These are challenging times for the whole crypto industry and almost everybody are feeling insecure over his/her coin holdings but one thing I would say is that we should arm ourselves with knowledge that will prevent us from being a victim of any type of crypto related crime because by being knowledgeable on anything and everything about crypto and crypto security, I think we could combat this kinds of ill motivated schemes in our own way.

[bering]

Besides high of volatility the theft also another risk investment on crypto but nothing we can do besides more carefull to protect our assets but as the most lost were come from exchange which some of them were got hacked then starting now we have to save our asset not 100% to the exchange again to avoid these happend again and keep it privately to minimize the thefts aiming us

[ccryptopark]

I think we are learning how to handle a new era of transacting. We are lucky to have compliance companies like ciphertrace to help provide these statistics whether they are helping the larger issues at hand or not. At least we can see what needs to be done

[Fuhre]

There is not much I can do, if the Exchange problem is hit by robbery, in my opinion it is the duty of the Exchange to improve the quality of security. and if the problem comes from a scam project, then we have to be more careful when promoting the project, because some investors participate because they are affected by the ads brought by bounty Hunter (Campaign).

[IParn]

Cryptocurrency is developing every day.  Of course she will be better.  I believe that every day she is getting closer to us.  And it can not please me.

[yesyes18]

First of all the only best option we should always keep in mind is to be careful and trust less people as much as possible or trust no one if you wish. With that, you will seriously get yourself protected from these scammers. Moreover, as for the exchanges. I mostly don't believe their hack stories sinve majority of them pull exit scam pkans to leave when they're out of money.