Crimes involving crypto have risen

[Distinctin]

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.

There's no answer but only regulation, we need some strict regulation with big punishment so scammers will not live freely in the space.
With regulation, we can restore the reputation of the crypto space and we will be able to attract new investors to put their money for the future of crypto.

It has been proven during in the previous years how attractive crypto is when it comes to investment, but this attraction also result to big scams due to lack of knowledge by the investors and the scammers talking advantage on the immaturity of the investors. We can't force people to educate themselves before investing, but we can make this crypto space a better world with less scams happening.

[Kemarit]

How about this one?

(https://github.com/jlopp/physical-bitcoin-attacks)

It's a repository of known Bitcoin attacks. It's a bit scary though as criminals are going on great lengths now to even attack someone on their home, business and stole your cryptos. And that is why it is very important that you don't flaunt yourself outside promoting Bitcoin. Because once you are spotted, criminals will follow you beat you to death just to get your private keys. So just be careful and stay on the quiet side.

[Jating]

How about this one?

(https://github.com/jlopp/physical-bitcoin-attacks)

It's a repository of known Bitcoin attacks. It's a bit scary though as criminals are going on great lengths now to even attack someone on their home, business and stole your cryptos. And that is why it is very important that you don't flaunt yourself outside promoting Bitcoin. Because once you are spotted, criminals will follow you beat you to death just to get your private keys. So just be careful and stay on the quiet side.

This one causes an alarm specially if criminals are going to used bodily harms against us crypto holders. That is why when you are in public, you shouldn't talk about your crypto holdings. Don't wear shirt that screams you are a bitcoin holder.

I make a mistake once of wearing a BTC logo once or twice, and then I realised that I'm putting risk on my life wherever I go. So yes, then flaunt when you go out, and always be attentive and get away as far as you can when you smell that something is not right on that environment.

[fillippone]

A good opsec security is just a part of the equation trying to avoiding crimes involving crypto’s happens to you:

Norwegian bitcoin millionaire jumped down 2 stories from his balcony after man with shotgun broke in to his house. This is why you never tell anyone you own BTC

https://twitter.com/redditbtc/status/1170809574607249409?s=21

[wxxyrqa]

I am sure that criminals are always looking for safe ways to finance themselves, in order to avoid punishment or to leave the field of law enforcement.  I do not exclude that cryptocurrencies are used by cybercriminals in various fields of their activity, but today the most important crimes where cryptocurrency can be involved are money laundering, tax evasion, and bribes paid by bribed officials.

[Barbut]

I am sure that criminals are always looking for safe ways to finance themselves, in order to avoid punishment or to leave the field of law enforcement.  I do not exclude that cryptocurrencies are used by cybercriminals in various fields of their activity, but today the most important crimes where cryptocurrency can be involved are money laundering, tax evasion, and bribes paid by bribed officials.

And who is representing that law enforcement? Criminals in suits, I see it like that. There isn't country that is free from crime, and crime is on all and levels, from bottom to top, you can find them anywhere. Cryptocurrencies can solve some problems in the long run, it can be enough transparent, like governments should be. Only when we achieve that, to have transparency on all levels we can have safer world, cryptos can help in we use it in the right way.

[DAVETUN]

Crime is a global phenomenon in every sector, there are lazy individual out to always take advantage of people, cryptocurrency platform is no exception, thou it is on the increase, sure this value is estimated $2.3 billion  as there are several offline crimes that are not recorded, it is wisdom to ensure you do not flaunt your crypto personality and also ensure you not after freebies that are trap in disguise.

[wattcrypto]

CipherTrace recently published their AML report as well with a pretty alarming number https://ciphertrace.com/q2-2019-cryptocurrency-anti-money-laundering-report/

approximately $4.26 billion in aggregate for 2019

[Finestream]

A good opsec security is just a part of the equation trying to avoiding crimes involving crypto’s happens to you:

Norwegian bitcoin millionaire jumped down 2 stories from his balcony after man with shotgun broke in to his house. This is why you never tell anyone you own BTC

https://twitter.com/redditbtc/status/1170809574607249409?s=21

Good  advise, since it's easier to steal billion of money in BTC that billions of cash in the bank. (robbers are getting smart now)...

Imagine you rob a billionaire in BTC and you can get that billions directly transferred to your, that's the most convenient way of robbing a person and since BTC is not yet fully regulated the robber will be able to launder the money and can even bring that money wherever he will hide.

Even if I only have thousands of dollars in BTC, I'm now telling people I have it, I'm not even making them aware that I am a bitcoiner.

[andriarto]

I am sure that criminals are always looking for safe ways to finance themselves, in order to avoid punishment or to leave the field of law enforcement.  I do not exclude that cryptocurrencies are used by cybercriminals in various fields of their activity, but today the most important crimes where cryptocurrency can be involved are money laundering, tax evasion, and bribes paid by bribed officials.

And who is representing that law enforcement? Criminals in suits, I see it like that. There isn't country that is free from crime, and crime is on all and levels, from bottom to top, you can find them anywhere. Cryptocurrencies can solve some problems in the long run, it can be enough transparent, like governments should be. Only when we achieve that, to have transparency on all levels we can have safer world, cryptos can help in we use it in the right way.

the government system is now starting to use transparency for mutual progress, their system can be accessed by all people so as to minimize budget misuse. and should the crypto have a transparent system, the government can require kyc for security, so that crime is reduced, perhaps because the government's decentralized system is still reluctant to authorize it, because it cannot be controlled

[tonyvo2017]

Yes, currently hackers are active a lot and they target the crypto market. There are many holes where hackers can detect and steal investors' assets.
Therefore, this is a good opportunity for businesses with high security level to be highly appreciated, such as Coinbase, Binance, Okex, ...

[prix]

Yes, currently hackers are active a lot and they target the crypto market. There are many holes where hackers can detect and steal investors' assets.
Therefore, this is a good opportunity for businesses with high security level to be highly appreciated, such as Coinbase, Binance, Okex, ...

Binance? Is this by chance not the exchange from 7k bitcoins were stolen? Which had Viacoin pump due leaked user account credentials? Which leaked kyc documents through third-party?
And after hacking which ledger sales increased?
The Ledger (and other hardware wallets manufacturers) that's who gets the benefits of hacker attacks.

[jdarren]

I also think people are able to track and trace crimes so it's a way of getting a proper measurement. You can't really do that with fiat.

[hahay]

Crime is a global phenomenon in every sector, there are lazy individual out to always take advantage of people, cryptocurrency platform is no exception, thou it is on the increase, sure this value is estimated $2.3 billion  as there are several offline crimes that are not recorded, it is wisdom to ensure you do not flaunt your crypto personality and also ensure you not after freebies that are trap in disguise.

Right, crimes will always be there but what is regrettable is that most crimes will at least involve cryptocurrency as funding or anything related to money and other transactions. It is a bad impact for this industry that makes crimes involving cryptocurrency continue to increase.

[Naughty Princess]

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.

Well, the latter part of your statement talks about the variety of ways cryptocurrency and the Blockchain can be integrated and utilized to help humanity. Crimes associated with financing and money existed years ago even before the creation of cryptocurrency hence cryptocurrency is not actually the cause for financial crimes up-rise but rather the uncontrolled negative intensive taste for money and power of man.

Crime increases because of greediness. And doing crime in crypto world though not easy is also not easy to track by the government. Many utilizes it but some do not know how to take care and make it secure from hackers. There are people who are envy on other but lazy to do it himself.

[bryant.coleman]

90% of the crimes can be prevented if the governments completely legalize the status of the cryptocurrencies and come up with the regulatory framework for the ICOs and the IEOs. Since the legal status of Bitcoin is not clear in a number of nations, victims of scams are afraid to approach the authorities. In case they go to the cops, then they need to give all the details such as the source of income and the Bitcoin transaction logs. Therefore in most cases, many of the victims decide to ignore their losses and move on.

Also, there needs to be better coordination between the governments, as many of the crimes related to cryptocurrency are transnational in nature. For example, recently there was a scam from a Switzerland based team which conned the investors with their Swissborg (CHSB) token. The scale of the scam was massive and they managed to swindle at least $50 million in the form of ETH and BTC. The victims filed a complaint in Switzerland, but it was of limited use as the promoters ( Cyrus Fazel & Co.) had already moved to Sweden (along with their funds).

[jaocoincrypto18]

This shows of how important is the regulation is that all crypto users should fully support the government regulation and implementation so that these stealing activities will be neutralize or eliminated. If the regulation is weak then they should amend it immediately and improve it to make it more accurate to battle these crimes that are using crypto.

[Finestream]

This shows of how important is the regulation is that all crypto users should fully support the government regulation and implementation so that these stealing activities will be neutralize or eliminated. If the regulation is weak then they should amend it immediately and improve it to make it more accurate to battle these crimes that are using crypto.

It's not weak actually, the market is just not fully regulated yet, in the US, the regulation is already good on crypto but in other countries, some are not regulating crypto yet, so the moment they'll start regulating, they could just copy the standard on how US regulate crypto.

I believe it's not hard to regulate crypto if the government are willing to regulate it, and hopefully the big scams that has happened in the past is already enough to call their attention to start regulating the market, they cannot stop it, it's getting more popular and in order to protect the people, they need to be in a regulated market.

[fillippone]

I belieV e it's not hard to regulate crypto if the government are willing to regulate it, and hopefully the big scams that has happened in the past is already enough to call their attention to start regulating the market, they cannot stop it, it's getting more popular and in order to protect the people, they need to be in a regulated market.

Regulating crypto is impossible,
It’s like regulating the internet.
What government can do is regulating what the subject in their very own jurisdiction can do with crypto.
This is very different.

[qwertyup23]

"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.

With the price of bitcoin increasing each day, more and more crimes involving stealing, scamming, or hacking of famous exchanges or wallets of users have been rampant each day. Unfortunately since bitcoin purely exists on the internet, these type of problems are inevitable and may continue to happen in the long-run.

Securing your bitcoins and providing a physical wallet may improve the security against hackers and potential thieves.

I belieV e it's not hard to regulate crypto if the government are willing to regulate it, and hopefully the big scams that has happened in the past is already enough to call their attention to start regulating the market, they cannot stop it, it's getting more popular and in order to protect the people, they need to be in a regulated market.

Regulating crypto is impossible,
It’s like regulating the internet.
What government can do is regulating what the subject in their very own jurisdiction can do with crypto.
This is very different.

This is actually one of the problems of decentralization. Without any agency to protect and provide security, the government cannot intervene and support the system. The most that they can do is to provide security covering the scope of the internet, but not on cryptocurrencies specifically.