The perfect solution to scam in the crypto space

[Iyanu14]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

You are right, regulation will protect investor from participating in a scam project, contract autit of smart contract is important too, now the question is when will the regulation kick in?

[niisarearning]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

I agree with your point for your first solution its already implemented in the name of IEO . These IEO's are mostly verified with exchanges and atleast it will gauarntte listing . Second auditing most of the token do the auditing before listing into exchange yes regular interval of auditing required for sure.

[Iykecollins]

I think scams can easily be regulated with IEO's than ICO's, at least the exchanges where these IEO's could bring some regulations about amount of tokens that can be traded by a single account to avoid dumps from scam developers on victim investors.

[Genkotsu]

yeah i agree with all of that.
we need more protector of ICO to reduce scam or fraud project.
now, ICO is so bad and full of scammers and how much investor loosing their money because Scam ICO.
i hope that will happen and we can see ICO without scam and fraud again.

[Lexurdania]

I think scams can easily be regulated with IEO's than ICO's, at least the exchanges where these IEO's could bring some regulations about amount of tokens that can be traded by a single account to avoid dumps from scam developers on victim investors.

I dont think IEOs is problem solver. IEOs is differet ICOs and held by exchangers. If we are choosing IEOs from big exchangers, its fine but right now, many exchangers trying held IEOs and i think we should make research first before join IEO in small exchanger

[10BTCaDay]

yeah i agree with all of that.
we need more protector of ICO to reduce scam or fraud project.
now, ICO is so bad and full of scammers and how much investor loosing their money because Scam ICO.
i hope that will happen and we can see ICO without scam and fraud again.

sooner or later this moment will come and we will really see a clean market, but until then we need to be as attentive as possible and if we see a not honest project, we must report it

[Ferris419]

I think STO is the upgraded version of ICO, I mean they are regulated by law! But from the end of the last year haven't seen a single successful STO token in the exchange! That's mean investors are not liking the STO too. The only thing investors accepted is the IEO!

But the smart contract auditing seems a very good suggestion to reduce the hackers!

[DainSLane]

We should have a solution to eliminate those scammers and scam ICO so that the investors they will not afraid of putting their investment and it would be safe, i think the ICO would be register to the government so that scam ICO would not launch in crypto space.

[talkbitcoin]

in a decentralized world the users themselves must fight the scammers instead of relying on third parties and other people to fight their fights. otherwise there is no point in having this market as decentralized and we might as well go trade stocks with centralized brokers.
besides, when you add centralization into a decentralized world each time without fault we end up with corruption.

[okala]

I think scams can easily be regulated with IEO's than ICO's, at least the exchanges where these IEO's could bring some regulations about amount of tokens that can be traded by a single account to avoid dumps from scam developers on victim investors.

How do you mean scam can be regulated through IEO then in the ICO when scam is a general term that can occur at any given time and on any platform, we have scam exchanges what happen if those scam exchange run an IEO will they not scam the investors?

[Chomsy]

SEC will have that big part of regulating these ICOs because they can maintain the number of incoming ICOs and they can check the legitimacy of the makers.

This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

True because of fact checking of the developers so that they are liable if ever they do something shady.

We always talk about this regulation. But my question is, what is SEC actually doing concerning this? Are they taking any action at all cos the crime is just becoming widely spread across the crypto space and this scares most prominent investors.

[lyks15]

The only thing that I can see that can solve the number of scam and fraud is legalization and regularization. The number of fraud case this time is very alarming so that means that criminal is everywhere and your security is in danger. If regularization and legalization will implemented criminals will afraid to do crime or online scam because there will be a law to punish them.

[neonshium]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

You're right but I don't know if it is possible for ICOs to be regulated without cryptocurrencies being regulated as well. But if it as possible, then it would be a very good idea for all of them to be regulated, because they reason why these scammers keeps jumping on crypto investors is because there is no one regulating the field. If it starts being regulated they will all be afraid to try because they know that they can be traced if they try any foolish acts. So you have a pretty good idea about this, although I do know that there are people who are going to kick against it.

[anatolij.shishkin]

The place to look at positive news, new trends and develop the market. Every day we run into the same problem. Yes, we all know that a lot of frauds and where they are not.

[Janna_MaMa]

exactly. if ico can't control scams and hacks, crypto will crash because no one believes in it and worries about when your account can be hacked.

[joseyphil82]

ICO regulation is what we should all be praying for ,I personally think its the only best option to reduce ICO scam on crypto space and return ICO fund raising to its glorious days

[maydna]

I think there is only one way that we can do to prevent the scam in the cryptocurrency which is we must be careful investing in any of ICO or IEO or the altcoin. You don't have to invest if you don't have enough information about the project and it's better you invest in bitcoin only because bitcoin price will increase higher in a long time. Besides that, there is no other way to know which project that could scam us in the future because they still running the project and the scamming can happen in anytime too.

So, only be careful that we can do and we should get as much information as we can about the project so we can choose the right project to invest.

[GGmith]

yes, I agree with you that with crypto rules or auditing their smart contracts are steps to reduce fraud. there have been many fraud cases ico and this is what makes most investors reconsider before investing in ico.

[Samboo]

I think the perfect solution to crypto scams is regulation. The crypto community can introduce regulations themselves, if governments are failing to do so it seems. In fact the market has lack of regulations giving leeway for scammers and hackers to run their business freely. There are many instances of scammers scamming traders and investors openly. Why they can not face punishment? Lets think this issue very seriously.

[Sacramentus]

The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are

1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore

2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month).  Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.

I totally agree with you. Many of us has been kicking against regulation and saying it will not help cryptocurrency and I keep asking them what will, how they plan to fight scam without regulation and yet no good reply because most of them are ignorant. We can't escape regulation to fight the bad ones among us