Crimes involving crypto have risen

[wildey]

In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

Not really. Every now and then, I am hearing about fake projects. The scammers have just turned to their attention to the IEOs from the ICOs. Even now there is no dearth of investors who are ready to invest in such shady projects without any proper research or study. In terms of absolute value, I would even say that the theft of funds have increased.

Fake project will always exist.
The fact is that now are eliminated very much compared to previous years. There are many mechanisms that ensure the validity of a project. If someone get scammed after all, then he totally deserves that.

we can be sure that one of the strongest crimes in the crypto world is a scam project. This has become popular since 2017 and is quite increasing for now. even for now quite a lot of investors are hesitant to invest in the new ICO / IEO.

however, this makes many people cautious and do a lot of research before investing. this can be avoided by deeper research on a project. Well, maybe right now there are enough people who can anticipate this. the most important thing is to experience research on all parties involved to avoid fraud in the form of projects.

Well, there are many other crimes, but with caution I think we can avoid that.

[lixer]

In fact, these are statistics, as far as I know, in the middle-end of 2018. But then there was hype, and scam projects were much easier to deceive people.
Now the situation has changed quite a lot and theft of funds has become much less.

This recording is certainly very disadvantaged for many people because it is very visible that the cryptocurrency industry has a risk that is indeed quite large as we now observe where there are many potential scam projects so indeed we ourselves must be careful if interested in investing

People would only need to be careful same way we are being careful with fiat also, because fiat system is the worst when it to scam rate, and we still have many people that still has not got burnt, the way we are careful is also the way we will be careful with crypto investment also. All these are there because it is still a very young system, and as we continue to move further into more development, there will be so many things that will be put in place to control this.

We have already had the implementation of kyc which is already doing its own work, and sooner than later, as government are beginning to accept crypto now, they will also come up with series of idea that would control the misuse of the cryptocurrency for illegal purposes and these figures will reduce.

[EdenHazard]

People would only need to be careful same way we are being careful with fiat also, because fiat system is the worst when it to scam rate, and we still have many people that still has not got burnt, the way we are careful is also the way we will be careful with crypto investment also. All these are there because it is still a very young system, and as we continue to move further into more development, there will be so many things that will be put in place to control this.

We have already had the implementation of kyc which is already doing its own work, and sooner than later, as government are beginning to accept crypto now, they will also come up with series of idea that would control the misuse of the cryptocurrency for illegal purposes and these figures will reduce.

Government  to control cryptocurrency? Lol are you serious supporting this? Sounds like it's against satoshi vision .. it's obviously against cryptocurrency vision itself that supposed to be remain decentralized,  this kind crime issues,  abusing the cryptocurrency technology is something really normal to bring up to the public as an effort for those who don't like cryptocurrency become a mainstream thing.

Ignore this kind issue and stop beating around the Bush guys...

[moonhub]

People would only need to be careful same way we are being careful with fiat also, because fiat system is the worst when it to scam rate, and we still have many people that still has not got burnt, the way we are careful is also the way we will be careful with crypto investment also. All these are there because it is still a very young system, and as we continue to move further into more development, there will be so many things that will be put in place to control this.

We have already had the implementation of kyc which is already doing its own work, and sooner than later, as government are beginning to accept crypto now, they will also come up with series of idea that would control the misuse of the cryptocurrency for illegal purposes and these figures will reduce.

Government  to control cryptocurrency? Lol are you serious supporting this? Sounds like it's against satoshi vision .. it's obviously against cryptocurrency vision itself that supposed to be remain decentralized,  this kind crime issues,  abusing the cryptocurrency technology is something really normal to bring up to the public as an effort for those who don't like cryptocurrency become a mainstream thing.

Ignore this kind issue and stop beating around the Bush guys...

These guys from the government are constantly trying to rake up the crypto for themselves. People do not need a centralized cryptocurrency.

[vian30]

I don't know why this economic activity is called illegal? can anyone help answer it? but there is little explanation that currency is not inherently bad or evil, it is only a tool used for transactions and in humans for what it is used for. Like foot if used kicking people will be a crime but if the feet are to run then it's a good thing, ....

[moonhub]

I don't know why this economic activity is called illegal? can anyone help answer it? but there is little explanation that currency is not inherently bad or evil, it is only a tool used for transactions and in humans for what it is used for. Like foot if used kicking people will be a crime but if the feet are to run then it's a good thing, ....

This is akin to the fact that if terrorists drink water, then it must be banned. That is absurdity. Here you are right.

[hahay]

Wherever there is money or anything of value, there is always someone who tries to get hold of it using illegal systems.
It does not seem to me that this is an exclusive of the crypto. At some point, we certainly can't abolish money because thieves exist

Yes, because crime will at least always be there, therefore there are security forces who are always on guard and all the regulations made at least there will be violations of all of which continue to occur repeatedly. But indeed, when bitcoin or cryptocurrency is increasingly popular, most crimes that occur always involve cryptocurrency there which of course is damaging the image of the cryptocurrency market itself.

[Distinctin]

Wherever there is money or anything of value, there is always someone who tries to get hold of it using illegal systems.
It does not seem to me that this is an exclusive of the crypto. At some point, we certainly can't abolish money because thieves exist

Yes, because crime will at least always be there, therefore there are security forces who are always on guard and all the regulations made at least there will be violations of all of which continue to occur repeatedly. But indeed, when bitcoin or cryptocurrency is increasingly popular, most crimes that occur always involve cryptocurrency there which of course is damaging the image of the cryptocurrency market itself.

The government knows they can't stop the popularity of bitcoin, this is a global currency and a global investment at the same time, therefore the potential to grow fast is very high, I think now we've seen some improvement in regulation as there are already actions to regulate on most countries where crypto is already starting to gain popularity.

I'm confident that we the growth of crypto, regulation are also at place because that is necessary for continues growth, we don't want see the bad image of crypto and at the same time, the government does not also want to see an increase of scams and fraud, so they'll try their best to stop or minimize it.

[samcrypto]

Wherever there is money or anything of value, there is always someone who tries to get hold of it using illegal systems.
It does not seem to me that this is an exclusive of the crypto. At some point, we certainly can't abolish money because thieves exist

Really on point and that’s why government can’t stop cryptocurrency even if there’s a lot of illegal activities having good regulations can lessen that number. Crimes are already part of the society and even government can’t stop that because they do some hidden crimes too so its normal and crypto will still continue.

[breathlessz]

It will indeed be difficult to avoid the occurrence of crime in the cryptocurrency market, due to the absence of rules from governments or world institutions that can give permission regarding any developing projects or investments that currently exist, making oversight of cryptocurrency weak

therefore due to the absence of statutory regulations, criminal acts are rampant, and they cannot be prosecuted. therefore we ourselves must be careful to anticipate criminals who threaten our wallet, and we take full responsibility for it

[Finestream]

It will indeed be difficult to avoid the occurrence of crime in the cryptocurrency market, due to the absence of rules from governments or world institutions that can give permission regarding any developing projects or investments that currently exist, making oversight of cryptocurrency weak

That's something the government has to improve, crypto is already a big thing in this world, it's potential is bright and this will grow in the long run. Government has to be aware of what is happening so they can find a solution to mitigate the risk, most of the victims here are actually newbies who does not have enough knowledge about crypto, in short, they are here because they got scam and they think crypto is a ponzi scheme that would bring overnight process.

With this lack of regulation, it also affect the reputation of the crypto as we cannot stop scammers when they are seeing the popularity of crypto is growing, that only means one thing to them, opportunity to scam.

[JohnBitCo]

I don't know why this economic activity is called illegal? can anyone help answer it? but there is little explanation that currency is not inherently bad or evil, it is only a tool used for transactions and in humans for what it is used for. Like foot if used kicking people will be a crime but if the feet are to run then it's a good thing, ....

The example of the foot does not suit here and crypto currency is entirely a different thing. Why government call it illegal is because they have failed to control it and they will not be able to tax people and regulate the economy if bitcoin becomes the main currency.

[FIFA worldcup]

It will indeed be difficult to avoid the occurrence of crime in the cryptocurrency market, due to the absence of rules from governments or world institutions that can give permission regarding any developing projects or investments that currently exist, making oversight of cryptocurrency weak

I agree that crypto and bitcoin transactions are anonymous, but this does not mean that usage of crypto is only for the crime. It has other advantages too when compare with fiat and therefore the focus should be to utilize the positive aspects of bitcoin and try to find out the ways to minimize the crimes related to crypto.

[freedomgo]

It will indeed be difficult to avoid the occurrence of crime in the cryptocurrency market, due to the absence of rules from governments or world institutions that can give permission regarding any developing projects or investments that currently exist, making oversight of cryptocurrency weak

I agree that crypto and bitcoin transactions are anonymous, but this does not mean that usage of crypto is only for the crime. It has other advantages too when compare with fiat and therefore the focus should be to utilize the positive aspects of bitcoin and try to find out the ways to minimize the crimes related to crypto.

Of course it's not, I believe that majority of the transaction are legal and as crypto has been use by some for their illegal activities, the government are doing an effort to combat illegal activities. They want to regulate the space so they can implement the anti money laundering act which has been rampant in the crypto space, but like I said, when there is a regulation, this will dramatically decrease since they know they can be trace.

Bitcoin is anonymous in the past, but with exchanges now requiring KYC, I don't think one will be able to enjoy that anonymity if he is doing an illegal transaction as the authorities can always dig on that record to trace transactions from a certain person.

[randyboy]

Crypto is already involved in a variety of crimes. so I'm not surprised at that, because it's the same as fiat currency. evil people also use it to steal and use it also for evil. wherever that is really happening. the only difference here today in crypto, that it is easier for us to be aware of the trend of other users due to changes made by other projects. so we can see crypto is not made just for that purpose, it helps us today and I don't see anything bad in it to block it.

[UstadSoleh]

"Nearly 2.7 trillion won ($2.3 billion) have been lost to crimes involving cryptocurrency in the last two years, according to South Korean government data."

where do you see the improvements being made against crypto criminal activity. this can really hurt the price for traders/investors if conditions don't improve.

This condition is very alarming, given that crypto has also decreased from 2018 until now. These crypto users are anonymous, so everyone can do anything, including committing crimes.

By looking at the rising crypto criminals, we must also be more vigilant. Don't easily believe in good results without reviewing it first. So that your digital assets can be secure.

[Finestream]

I don't know why this economic activity is called illegal? can anyone help answer it? but there is little explanation that currency is not inherently bad or evil, it is only a tool used for transactions and in humans for what it is used for. Like foot if used kicking people will be a crime but if the feet are to run then it's a good thing, ....

Because it is not made by a Government and they consider bitcoin as an outsider and cannot be easily monitored by them.

Even if it's not made, they can still regulate it, it's really up to the government but I'm sure they are already looking on bitcoin transaction.
One obvious evidence that they are regulating bitcoin is when we open an account in an exchange, registered or regulated exchanges requires their clients to submit for the KYC requirement before they can use the platform, thing is, the government can't regulate everything at one time, they are starting with the most use platform which is the exchanges.

[Betwrong]

~
Because it is not made by a Government and they consider bitcoin as an outsider and cannot be easily monitored by them.

Bitcoin transactions are called pseudo-anonymous, and for a reason. Law enforcement can trace any of your transactions, and it's just a matter of time when it will be traced to you personally. I believe they need a warrant for this activity, so if you are not a criminal you have nothing to worry about. But for criminals Bitcoin usage is suicide, and that's why BTC is used less and less by them.

You can read more by following the link below:

https://cointelegraph.com/news/bitcoin-no-longer-desirable-option-for-criminals-says-coincorner-ceo

[virasisog]

just a few weeks ago i am watching a popular tv show here in our country ,where they help people who go to their studio to seek assistance and help.
The offender and the victims where invited to appear on television for clarity and to settle things between the said group. Suddenly out of the blue the victim said that the offender invested it their money to Bitcoin. I was shooked and felt offended that people do misconduct and along with this bitcoin is being quoted as a scam.
I hope in the future people will understand the real concept and purpose of cryptocurrency.

[DAVETUN]

Crypto currency crime rate on the increase is a major cause prolonging the bull run since 2017, but I feel the figure is exagerated as I tends to wonder how the data was collated, regulation in the cryptocurrency space is the solution to crime menace.