Crypto Crime is getting Worse, what do we do?

[sctunter]

your money is your own resposibility
nothing we can do again the crime unless we can track and report the person that do scamming to police

[trash321]

There are a lot of opportunities for stopping scammers, the main possibility is compulsory verification in order for investors to understand exactly who they are investing with whom to ask their funds later.

[coinnumber]

There are many ways to limit the rate of scam but it will be difficult to eradicate it totally. We have our roll to play in this by verifying the project we about to invest on, confirm if the team is real, do enough research for the security of your funds. Most of the scam victim is cause by ignorance and greediness once we can work on all will be well.

[Kocret02]

seems to have to have a special body that handles crypto crime, because we know that cryto crime is difficult to handle and this is one of the worst for crypto and users. this can prevent the more severe crime of crypto

[darkangel]

Maybe it's time to call for full regulation. All cryptocurrency exchanges must be registered with SEC and given licence to operate and any scam or loss of fund, the CEO will be made to face prosecution. Having 10 legitimate cryptocurrency exchanges is better than having 100 unscrupulous scam exchanges

[teddyelwyn]

Maybe it's time to call for full regulation. All cryptocurrency exchanges must be registered with SEC and given licence to operate and any scam or loss of fund, the CEO will be made to face prosecution. Having 10 legitimate cryptocurrency exchanges is better than having 100 unscrupulous scam exchanges

i like that idea and agree with you. I think they should be registered and have AML and KYC compliance standards through cyber security third parties like ciphertrace and identity mind or any other respectable companies

[Rapidgator]

Maybe it's time to call for full regulation. All cryptocurrency exchanges must be registered with SEC and given licence to operate and any scam or loss of fund, the CEO will be made to face prosecution. Having 10 legitimate cryptocurrency exchanges is better than having 100 unscrupulous scam exchanges

Okay but what with decentralized exchanges like for example IDEX? These exchanges still need to be regulated?

[Prompyboo]

seems to have to have a special body that handles crypto crime, because we know that cryto crime is difficult to handle and this is one of the worst for crypto and users. this can prevent the more severe crime of crypto

crypto crime is very difficult to track down and almost impossible to find hackers or people who have deceived users

[Goodvin]

We can save our wallets and not leave money for storage on stock exchanges. But exchanges need to develop multi-stage protection for cryptocurrency. Such statistics have a negative effect on the volatility in the cryptocurrency market.

[StatesManG]

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?

what can we do if not to enhance security?  The cryto exchanges should work on their security and enhance it simple

[syamster]

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.

Well I think it is good to keep holding and never exchange your fund at this market situation, I know Richter are so many decentralized exchanges but we will have to be careful, scamming is an issue since technology developed but we are aware of it so better never get trapped and hold, when market will be find exchange your fund with well trusted project.

[adzino]

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?

There is actually nothing much we can do to stop them from scamming. But there is tons of stuffs we can do to save/prevent ourselves from getting scammed. First of all, we need to increase security. Remember, the hackers are always one step ahead of us. So we need to constantly monitor everything, have a team dedicated to these security activity.  We must make sure we know how to keep everything we own as much secure as possible. Don't overlook at any possibilities of vulnerability. Just keep in mind that, scams occur everywhere. Even with fiat currency. Its just the media who likes to highlight every negative aspects of crypto currencies.

[Leah38]

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

[installer]

Unfortunately it is so, but we cannot do something about it, because in my opinion this should be done by major exchanges. They should make hackatons to make our industry more secured for investors that are storing their money there.

[Nolimitz84]

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 think it is difficult for an ordinary user not to become a victim of theft and fraud.First protect your computer from viruses.Then do not tell anyone or anywhere about your private key.And preferably store it on not a computer.It seems to me the most necessary steps of any owner of cryptocurrency.

[adekogbe]

I think Cryptocurrencies can be connected in various speculation so there's a major hazard here. then the wrongdoing will never stop still there's a ton that we can do to less the opportunity about trick or hack like precedent utilize high conceivable venture that can truly develop and confided in effectively like bitcoin and a few altcoins like ethereum then more so examine that like how this will truly functions and in the event that you see new sorts of venture here like new ICO,alts/tokens and all the more at that point utilize some cash that you procure or you got in your trusted for venture officially here still examination that

[Bagaji]

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

Even in the real world, many choose the way of evil than that of Good. In my own opinion, there's nothing much we the community can do becasue most of these scam, or crime are committed by owners of exchanges while others are due to insiders inside the exchange or community. Lets us be vigilant and know when such act id finishing around the world of cryptocurrency.

[South Park]

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?

Since the aim of this market is to be decentralized the only logical thing to do is to learn how to protect yourself from scammers, I know some investors would like to see a more institutionalized response but if we accept that we are going to lose many of the freedoms afforded by this market, so the only solution is to do your best to avoid being scammed, this means that you will need to avoid investing in almost all icos and to only trust in exchanges with the best reputations but even in that case your coins should be there only long enough to make your trade and then you need to send your coins to a wallet that only you control.

[Olatunjex]

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 think regulation is required to stop the hoodlums from running away with innocent souls money, i think there should be a body that new ico or ieo must register physically with before they can go on with any fundraising.

[Oceat]

New investors should know the basic knowledge of securing their cryptocurrency and never ever put those cryptocurrencies in any exchanges. While most exchanges these days are getting hacked slowly, i think it's time for those owners of the exchanges to start working hard about of their security if they don't want to get easily hack.

I wonder how did Binance manage to wipe all of the hackers on their exchanges, most exchanges should follow what these top exchanges are doing.