The perfect solution to scam in the crypto space

[shoreno]

I think the perfect solution to crypto scams is regulation.

Ico is an example of a regulated business but why most ico are scams?  My point is that regulation cant handle the scams . Regultion can infact bring negative effects to the crypto space as it kills the purpose of being anonymous .

We can combat scams if we start on our self  .dont just join and join projects or business that you dont know because scammers wont grow if no one will get scammed  . Dont act like you are noob or dumb if you know that your smart  . Teach noobs and less knowledgable people so that they can also be aware

[waitforme]

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

To reduce the risk of investing, only invest in projects that make capital calls through the IEO. Received by the exchanges, these projects need to pass verification, thus minimizing risks for investors. Or ICO projects are protected by celebrities or have clear information about the development team.

[hamster fat]

You have to get experience in avoiding scam projects and that's it. I hope you guys will find a solution and would stop investing money in shady projects.

[Mata Kripto]

both ways are good steps to reduce fraud but not entirely successful, even if crypto rules are implemented it will most likely have a major impact on the market because we know that the cryptoqurrency world is anonymous and there will definitely be pros and kotra. so I don't think there is a perfect solution to reduce fraud except just for ourselves, they always grow and won't stop tricking us. and we as users can only be vigilant and avoid when seeing suspicious projects.

[AltcoinsBattle]

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.

Yes, we can follow certain rules and encourage others to do so. But will everyone follow this? When the time comes for a big volatility in the market, many newcomers will come. All that they see is Xss under the influence of the FOMO. How we can they be make listen to reason in this case?
Automatic auditing and code checking can be a good solution.

[veekky]

There is no solution at the moment, but you can still find solution by yourself. All what you need is to be careful and let other people know about scam actions of ICOs

[Kwansimaa]

To me best knowledge, to reduce scam in the crypto space, we need just regulation to fulfill that. Many are the mass out there who are willing to join the crypto industry but due to no regulation and risk of being scammed, these mass out there have chosen not to join the industry. If there is regulation and scam is reduced, I think majority of the mass out there will join the crypto industry to increase the market volume.

[el kaka22]

There is no perfect solution for scams, if a person wants to scam you and you are willing to believe him they will always find a way to scam you. I know people who got scammed with some ponzi scheme or mlm and they still believed it as well, like I could see from a mile away that they were scammed yet they were unable to see it from inside. That is why even after getting scammed some people will not accept that and you will be capable of scamming people.

By the way, when I say my friends didn't realize they were scammed they were in it from fiat as well so it exists in fiat world too as much as in crypto so there is no reason to be worried. Scammers will exists without a limit and doesn't matter what currency it is, it could be crypto or dollar or euro and anyone could still be scammed.

[Akoldi_ibk]

ICO regulation and smart contract auditing like you stated will help to check and reduce scam rate. But there is no perfect approach to solve this problem. The reason is because scammers are not dwelling on a single approach too. They are becoming super crafty in their wicked acts and will tend to go to any length to suck their victims dry. Safety still begins with individual.

[Ken_terrance]

I don't have much to say about the smart contract auditing because I don't know if it will work but over all I know that regulations will starve scammers ,I think its the perfect solution to crypto scammers

[jcumins]

I agree with the author, the situation only worsens. I think that emergence of IEO instead of ICO can help to solve problems with projects swindlers because the exchanges carefully choose new projects for the IEO. With breakings of purses everything is much more difficult, it is necessary to be very attentive.

[Averim]

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 think there should be changed the bitcointalk policy, i mean they have all the ip's so they can easily find out the identify of the people behind scams for at least give some info about it.

[aioc]

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.

It is too late to do regulation in the ICO investors are shifting to IEO, because it is the one with good regulation, why we need to do regulation in ICO when we already have one in IEO it has strict regulation and strict compliance IEO will close down ICO that's for sure.

[Delilonia1]

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 this. Any on who suspects that an individual is involved in a shady business should also raise an alarm so that other cryptonaires will be guided and not fall into the hands of scammers, posing as though they are legit

[xOdiumNostrumx]

Such an underwhelming bump of the thread haha, but regarding the theme of the actual topic, past few years were much worse when it comes to scams imo, as there was plenty of dump money on the market for grabs, now people learned their lessons and tend to stay away from shady projects.

[imoet]

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.

The solution above are good. It will make the scammers will think twice to make their bad project. People will not get upset anymore. The crypto world will be clean from unreal projects. It will not easy and take a quite long time but the crypto world will get people trust again.

[cudora]

The problem is that the majority of crypto community is still against any kind of regulations. They would rather stay anonymous and live will all those scam projects, to avoid regulations in crypto world. I do not get this approach and believe we should finally do this step.

[jazmuzika217]

I think the security is always in our hand. We don't need any application. All we know that the number of scams are continue to increase and getting worst. The safest thing to do is to make your every transactions and your private keys or password private. And do not open unknown link specially asking your personal info like password because they can get your account. Always observe because everything is possible in crypto industry.

[Cike_Dati]

You have to get experience in avoiding scam projects and that's it. I hope you guys will find a solution and would stop investing money in shady projects.

[cytpoway121]

A very good solution; but most investor won’t agree

The basic principles of trading is to invest and make profit; which is why most investors don’t care about the project; they dump once in profit.

Now that there’s both ico and ieo and ito and others; how will regulation work ? Who will centralize the nature of blockchain ?

Because blockchain to me is decentraliZation