Crypto Scams are a global issue

[Argoo]

This crypto scams might be the reason why some group of countries called G20 are planning to create a global regulation to prevent illegal use of cryptocurrencies. Cryptocurrency scams are still increasing around the world and these perpetrators are mosly using social media and other online mediums to victimize people. This global issue can be solve if all countries cooperates and create a common global stand to combat crypto scams.

Most likely, it will be so. States alone will not be able to deal with global fraud on the Internet. In order to successfully combat such fraud, common efforts, common rules and, if possible, a single center for coordinating such efforts and sharing information are needed.
In any case, the activity of the ICO should be administered to check the ICO team for the likelihood of fraud and it should be run by the local government authorities of each state.

[usorin]

Stealing from exchange there are not many measures that one client can take, perhaps don't deposit coins in exchange if you dont use them. Regarding the scams, it should be made a black list with the team members involved in those campaigns and it should be made public.

[goldreset]

Scams are everywhere and it's very easy to implement a project scam in the cryptocurrency world because it is being done on the internet. The Internet can be used as a tool of scamming people especially when people get attracted to profit. Since then, I encountered a lot of scam projects for not paying the bounty hunters or the participants of the said project. I also participated in debunking a scam project to its lack of proof of legitimacy.

It's a big issue and very hard to be solved since it's being done globally and we can't control it instantly.

Negative stigma is very inherent in the world of cryptocurrency, and until now that is why some countries do not legalize crypto as a means of transaction but only in the commodity futures category.

Also because in the world, there isn't really much money to go around. Banks to Banks and those 3 big boys, its all about passing around paper with signatures on them. that's it. now this similar stuff is coming forth digitally.

[GregH37]

Scam is a global issue even before crypto, I think some is just saying that crypto is all scam since it's done in the internet. And as we all know scam normally happened using the internet thus, most people think it's scam. I think whether it's crypto or not, scam is inevitable because scammers just can't get off their hands to easy money.

Those other means of scamming you talked about, which I agree with you that it had been in existence and happening globally before the invention of cryptocurrency is not so easy to get away with like cryptocurrency scam, I have never for once heard that crypto scammer got apprehended, it is so easy for them to walk away freely, your friend could even be the scammer and you may never know for life.

Something just had to be done about this really, before the smaller countries starts using it to accumulate the wealth of bigger countries through their citizens, it’s possible.

[Bitcotalk]

Now that crypto is allowing us to transact globally I am questioning if we are going  to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

The system is transparent and countries are established entities.
Scams usually happen when the scammer is anonymous or they try to raise funds through an ICO.
Neither or the latest will ever a country do, especially another respected country. However, I would agree that we need more compliance if we want to see the system work flawlessly.

What kind of compliance are you talking about? I think the only that we can be able to solve the issues of scanners being in the cryptocurrency community is by accepting regulation. If not that,  then I don't think there is any other way we will be able to sort out this problem of having scanners everywhere in this community, and we will all just he on our own.

Cryptocurrency was meant to give us freedom,  so when you're making use of cryptocurrency, if you get scammed you have no one to blame for it except for yourself, cause you're the one in charge. If cryptocurrency starts getting regulated, I believe it will be very easy to fish out these scammers.

[Thanasis]

Scams are everywhere and it's very easy to implement a project scam in the cryptocurrency world because it is being done on the internet. The Internet can be used as a tool of scamming people especially when people get attracted to profit. Since then, I encountered a lot of scam projects for not paying the bounty hunters or the participants of the said project. I also participated in debunking a scam project to its lack of proof of legitimacy.

It's a big issue and very hard to be solved since it's being done globally and we can't control it instantly.

Negative stigma is very inherent in the world of cryptocurrency, and until now that is why some countries do not legalize crypto as a means of transaction but only in the commodity futures category.

Also because in the world, there isn't really much money to go around. Banks to Banks and those 3 big boys, its all about passing around paper with signatures on them. that's it. now this similar stuff is coming forth digitally.

Decentralized cryptos cannot be printed above the cap values so once it reaches maximum availability then people have to use only the available cryptos but the value will greatly oncrease when the demand gets higher so we already have a perfect system to restrict the paper money but not many people still don't get why we need crypto currencies.

[Valhalaa]

crypto scams is global issue? I don't think that's right because from the beginning when all the simple systems were scamming, everyone was looking for loopholes in order to get excess profits because now the modern era is still fraudulent with crypto masking, I think all must be alert from all sides and secure their wallets only people who do not want to learn from mistakes will not get up and learn what has happened in their lives

[Lanatsa]

You do realize that scams are a global issue irrespective of whether it is related to crypto or not, don't you op? The thing that everybody needs to understand is that no matter what happens, scams will always happen.

However, these scams can decrease by a huge extent if we properly secure all of our assets in the best way possible.

Most of us aware that crypto is just scapegoat for the criminality, but the government can used this reason to banned crypto, I think something need to be done so it will be easier for government to accept, for now we need to keep on introduce and asked people to used it for positive things, because its decentralised we only can suggest, we don't have any power to verdict

Eventually cryptos existence doesn't really tend to being legalized or do ask out permission with the government yet its decentralized and that's the main factor
why government wont easily able to adopt it.Some might have positive insights but most of them are still on neutral or on negative ones but it doesn't really
matter at all yet sooner or later crypto would really be a big part on the future yet we know the potential and the benefit that it gives.

[kaya11]

As of now it is still untouched and left alone, but it the near future we there will be too much to bear, maybe the governments of each countries will be holding more attention and may a group of cyber security teams will be created just to investigate crytpo scams alone. I believe that time is the time where crypto will mostly be legalize and used as a main currency for each countries.

[Vaskiy]

As of now it is still untouched and left alone, but it the near future we there will be too much to bear, maybe the governments of each countries will be holding more attention and may a group of cyber security teams will be created just to investigate crytpo scams alone. I believe that time is the time where crypto will mostly be legalize and used as a main currency for each countries.

Agreed, compared to the past now we've got more users and the same will continue with a large number of users in the global market. Even now the scams happening with bitcoin is big, so when the market gets much widened surely it'll serve as a global issue with governments having their own teams to investigate. Right now as most of the countries stay neutral governments won't take responsibility on scams.

[Pattart]

The same scams have been going on since the internet started.  Its true that scammers prefer crypto because people have no way to reverse the transaction but I don't believe there are more scammers because of crypto.

If there's scammers is not because crypto is the best place for them, it's just so happened that they so wanted to take opportunities inside this market, as given equal opportunities scammers tend to take advantage of those services that Bitcoin provide to them.

Yeah crypto didn't officially give a place to the scammer, they came because they were used to doing it on fiat or elsewhere,
so when they found a new place they would do it there. Scam is a global issue, and we must fight together, not blame Crypto itself

[MakeMoneyBtc]

Scams and illegal transactions are being completed every second all around the world and definitely cryptocurrencies are not the reason for that. Of course, some of those scammers have moved to using cryptocurrencies for their illegal transactions but this doesn't mean crypto is what first triggered them to do that scam in the first place.

[Google+]

Scams and illegal transactions are being completed every second all around the world and definitely cryptocurrencies are not the reason for that. Of course, some of those scammers have moved to using cryptocurrencies for their illegal transactions but this doesn't mean crypto is what first triggered them to do that scam in the first place.

indeed cryptocurrency can be used as one of the good payment alternatives but nowadays many scammers use cryptocurrency as a place to do money laundering and erase their history.

[ecnalubma]

People should be more educated about cryptocurrency, scams do happen everyday we cannot remove it from the society unless we protect ourselves from it. We should know the standards in dealing cryptocurrency or else we are the list of victims lists.

[akiho yoshizawa]

People should be more educated about cryptocurrency, scams do happen everyday we cannot remove it from the society unless we protect ourselves from it. We should know the standards in dealing cryptocurrency or else we are the list of victims lists.

only strict rules that can eliminate cryptocurrency fraud from the public, if there are rules for punishments for fraudsters, I think slowly it will be able to reduce
ourselves also have to guard not to because the lure of a big bonus is finally deceived because the case often happens and people who want to quickly get money are the many victims without seeing the risk

[hahahafr]

The number of scam projects circulating the cryptosphere is overwhelming and sometimes beats my understading. I guess it's high time since we have some ICO regulatory body who regulates the number of ICOs that are launched and also check its legitimacy.

[Polar91]

People should be more educated about cryptocurrency, scams do happen everyday we cannot remove it from the society unless we protect ourselves from it. We should know the standards in dealing cryptocurrency or else we are the list of victims lists.

Indeed. The main problem why crypto scams are continuously occuring is because of those victims who doesn't have enough knowledge how cryptocurrency works and what kind of investment they should avoid. People get easily fooled due to greediness in earning money.

[passwordnow]

Scammers are looking for another way to scam and this is why others are shifting into crypto's. This doesn't mean that crypto is a scam and this is the misinformation that's circulating to the people that just heard crypto for few times. What would be the possible solution for these scams? being vigilant on whom you are transacting with. No one will ever be scammed if you will not allow the scammer to scam you. KYC is already implemented in some exchanges that has been required by their local government.

[andriarto]

People should be more educated about cryptocurrency, scams do happen everyday we cannot remove it from the society unless we protect ourselves from it. We should know the standards in dealing cryptocurrency or else we are the list of victims lists.

Indeed. The main problem why crypto scams are continuously occuring is because of those victims who doesn't have enough knowledge how cryptocurrency works and what kind of investment they should avoid. People get easily fooled due to greediness in earning money.

besides that there is no firm legal basis for cryptocurrency from the government. this is what is used by fraudsters to carry out their evil actions because there is no punishment, even though this is a crime

[dark1234]

Scammers enter empty space which is a weakness of cryptocurrency ...
and being careful is an absolute thing
and possible Scammers in cryptocurrency due to lack of government support retention in all countries of the world and many newcomers who act carelessly in dealing with transaction cryptocurrency and this is the empty space used by Scammers