Crypto Scams are a global issue

[ringgo96]

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

even though there is a legal basis, they will still do crime and fraud because they make trouble in the crypto world as their job every day. crime and scam depends on yourself how you secure it and do it. be careful and remain vigilant in acting.

[1715104182]

1715104182

[1715104182]

1715104182

[1715104182]

1715104182

[1715104182]

1715104182

[1715104182]

1715104182

[ausbit]

Yes, cryptocurrency fraud has now become a serious global problem. It arose due to the fact that states are very slow to respond to the emergence of cryptocurrency and its regulation. In cryptocurrency now large sums of money are concentrated and this attracts fraudsters. Fraud has always been a criminal offense, but for so many years the government has been inactive with respect to cryptocurrency fraudsters. This is especially true for ICO projects. So far, only individual countries have prepared bills to regulate the activities of the ICO, but their adoption will take some time.

I believe that the states knows exactly what to do, but I see their silence has deliberate act to frustrate cryptocurrency since they are not in support of it and would also not want to legalize or regulate it.

The SEC knows everything that is happening within the cryptocurrency space but because of their own STO, they decided to keep mute, so that investors will be forced to drop the idea of ICO back to STO, but I am glad that we have lots of individuals who are also crypto lovers and are working so hard to see how this issue of scam can be eliminated, people like Binance with their IEO, and I believe that we will still have other ideas later on.

[Moshaid]

Scam has been one of the traditional issues that has been affecting most people beyond the cryptocurrency sector, this will surely be a big issue and their won't be anything that can be done to it except if the governments legalize it. I am a patriot in seeing cryptocurrency being used globally but I believe more action through the government will strive things up for the betterment of crypto ecosystem.

[NEERAJ ANAND]

yes, every investor is fed up with these scams every day and it can stop only through some regulations applied on this market. Many companies come to the market with fake projects, collect money and disappear. No one can do this after regulations come into effect as he has to follow all rules to start a project.

[uneng]

The lack of laws and regulations increase the risk of scams in crypto currency environment, that is a negative point of decentralization. As the adoption increases, there are serious chances the scams will also increase, becoming a global issue.
On the other hand governments put regulations and create new rules to determine how people will have to use crypto currency, it can help to decrease scams, however it also weak the individual liberties of crypto users. There must be a serious conversation to choose what option is better: more regulations with less scams, or more freedom with more scams.

[tyz]

Crypto scams are just as much a problem as fiat scams. The thing is, such scams are oftentimes very amateurish and you would easily expose them if you would just do a little research and follow good sense. But only very few do that if they are promised an incredible return on their investment. Then most people's brains stop. Greed sets in and possible premonitions and inconsistencies are deliberately faded out. Whoever falls for such scam under such conditions is to blame himself. In reality, there are only very few very good scams. 

[usorin]

The solution for this problem is reglementation. Without them there is no possibility to complain at police regarding stealing from the wallet/exchange/scams and not only.

[playboy654]

Yes the effects are happening for your long time when the Crypto had to be scams in sometimes because everything will affect the development of economy so this type of things will give the thing for the investors to get back that's why I will be a scam affect everything.

[Semosuchi Tesongrato]

Everywhere there is a chance to earn something, you can bet there will'be scams...

[spike420211]

The solution for this problem is reglementation. Without them there is no possibility to complain at police regarding stealing from the wallet/exchange/scams and not only.

This is a cryptocurrency, it is difficult to bring regulation here, it will definitely not work out quickly. In this case, everything will depend on the regulator and its legitimacy.

[omonuyak]

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 p2p system is decentralized and if it has global benefits it most have global problems.  The issues of scam is an epidemic that the cryptocurrency community must handle if we must move forward.  I do believe that we are going to have more coins and projects coming up that are going to handle security issues.

[Botnake]

The solution for this problem is reglementation. Without them there is no possibility to complain at police regarding stealing from the wallet/exchange/scams and not only.

This is a cryptocurrency, it is difficult to bring regulation here, it will definitely not work out quickly. In this case, everything will depend on the regulator and its legitimacy.

With the resources and the power of the government, regulating crypto is not difficult.
True, it might need more time as they have to study and evaluate the market first in order to device a good regulation that will benefit all of us.
I'm expecting a regulation in the future as it's really needed, keep the faith, crypto will improve.

[yusupjatigumilar]

 this has actually been the first time crypto currencies have been born, but at that time the number was still relatively small because at that time the price of crypto currencies was so cheap that few people were interested in having it, as the crypto currency grew until now triggered some people cheat to get a lot of money by fraudulently using crypto currencies. This of course also influences public trust which automatically also affects the price of the crypto currency itself.

[shesheboy]

this has actually been the first time crypto currencies have been born, but at that time the number was still relatively small because at that time the price of crypto currencies was so cheap that few people were interested in having it, as the crypto currency grew until now triggered some people cheat to get a lot of money by fraudulently using crypto currencies. This of course also influences public trust which automatically also affects the price of the crypto currency itself.

But even before where cryptos are not yet popular , the first crypto which was bitcoin is already being used on blackmarkets like deepweb/darknet but eventually when people are starting to recognize crypto , the use of cryptos are starting to change ( from bad to good )  but we cannot deny the fact that there are still crypto user who use thier crypto for shady means .

[South Park]

Scam has been one of the traditional issues that has been affecting most people beyond the cryptocurrency sector, this will surely be a big issue and their won't be anything that can be done to it except if the governments legalize it. I am a patriot in seeing cryptocurrency being used globally but I believe more action through the government will strive things up for the betterment of crypto ecosystem.

Scams happen everywhere but in this market scams can be even more damaging because when you are scammed with fiat there is a small hope that some of the money can be recovered but when you lose your money in crypto the chances of getting it back are very close to zero, many are looking for a solution to all of this but in my opinion they will fail in their efforts since there is no way to lower the amount of scams in the market without relying in a centralized solution.

[DeadCoin]

Any activity causing financial debts, will cause impact on global growth. The act may be so small but when looking at it collecting complete acts that happened worldwide, would remain as an impact to global financial growth.

[7788bitcoin]

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?

Scam is a global issue for a very long time, the majority of the scams takes place online as internet does not have any boundaries and the scammers found a way into the new market and it is not a one off event, scammers will find any opportunity to fool innocent users and awareness is the only option to counter that, most of the victims gets attracted to the high returns and end up loosing their earnings and if they understand that money cannot be attained that easily, the entire scam industry will die down.

[Oilacris]

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?

Scam is a global issue for a very long time, the majority of the scams takes place online as internet does not have any boundaries and the scammers found a way into the new market and it is not a one off event, scammers will find any opportunity to fool innocent users and awareness is the only option to counter that, most of the victims gets attracted to the high returns and end up loosing their earnings and if they understand that money cannot be attained that easily, the entire scam industry will die down.

Scams do exist a long time as long the market or things do involves money and this market is really a good candidate yet we are talking millions and billions here.

This isn't only applicable on crypto market as well on traditional market.Scams would exist yet there are really people who do easily believe on easy money and
hackers do able to bypass out security that's why I can completely say that this wont die down.It can be reduced but wont die completely.

[hahay]

That is why trusted escrow is needed to prevent more scammers, perhaps by having many companies that provide reliable escrow, transactions between countries will be safe and there will be no high anxiety. We are well aware of the very high scammers on the internet and for those who are careless from every transaction that will be made, chances are they will get scammed, one of which must be emphasized is a good awareness and understanding.

[Oceat]

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

Even if there is a government who protect our money, people nowadays will always find a way to scam those who lack of knowledge. If you ever handed a cryptocurrency you should always think your security of it first because you are now the government of your own investment. Stop defending the government because you already know what happens when you leave your money to them.