Crimes involving crypto have risen

[bitzizzix]

because crypto is growing and increasingly popular inviting criminals to be able to have it in any way because it can make money, especially bitcoin which is very expensive.
if bitcoin continues to be expensive then more and more criminals will have it, and I hate criminals because they will forcibly take what is not their right.

[ShooterXD]

Brazil is crazy!
Some of the scammers were killed by the investors, some are simulating their own death to escape the investors.
Some investors camped at corporate headquarters.
Worst of all, in some cases, the schemes are publicized in the media as advertising as a good investment, with celebrity backing and all.

[Spaffin]

I had no doubt that not only inveterate criminals would want to use cryptocurrency in their atrocities, but those people who wanted to earn a lot of money using cryptocurrency would not be able to resist the temptation, and thirst for profit would be provoked to fraud and other types of crimes  .  Big money always attracts bad guys and the cryptocurrency market is no exception.  I believe that this is another point because of which you need to have some control in the cryptocurrency market so that each user has the opportunity to legal protection of their funds and life.

[Jasad]

Did you remember last bigger crime cases with rasom ware virus using bitcoin as payment purchase? Maybe many people think bad about bitcoin because have use for crime cases and crimes involving crypto have risen every years, we have think positive with cryptocurrency and few peopla want to make bitcoin bad.

[Arsenyo]

We can't blame bitcoin or cryptocurrency for being involved in crimes or terrorism. It is just a tool used by people. The government and law enforcement agencies should fight exactly with criminals, and not with cryptocurrency.

[ReiMomo]

We can't blame bitcoin or cryptocurrency for being involved in crimes or terrorism. It is just a tool used by people. The government and law enforcement agencies should fight exactly with criminals, and not with cryptocurrency.

If the cryptocurrency is the one who is involved in crimes or even terrorism, it is not that easy for the government to fight those criminals and terrorists since it is nearly impossible for them to track the location or the IP address of the sender and receiver of the cryptocurrency. It is a reality that there is always a bad and good usage of something, it is just always depend on the people who uses it.

Well, that's true that crimes involving crypto right now have risen and it is because the government has no access to bitcoin the reason why they can't track every transaction the criminals that have been made eventually in the dark web that most common unknown transactions. The reason also why some countries did not legalize bitcoin and they find it illegal until now.

We can help authorities and government through reporting them if we found out suspicious activities. Criminals are not only on internet there are also physically involved.

[Silberman]

Two reasons for more reports of crypto crimes:

Crypto is bigger news now than it used to be, which means that a crypto crime now is more likely to get reported than say 5 years ago.
Prices are so much higher than they used to be, which makes crypto more valuable and so a bigger target.

What can be done to reduce this? Well, we are already seeing the first stirrings of regulation in the crypto industry. This will help to weed out scam projects. Other types of crime, phishing etc, aren't crypto-specific, and other than regulation can only really be combated by increasing user awareness and adding extra security steps.

Another reason why we hear more news about crimes committed with cryptocurrencies is because governments are trying to scare people away from cryptocurrencies and what better way to do than to report every story related to crypto with all the details possible so people think that the market is filled with scammers and nothing more, there are people in this forum that have traded for years and never got scammed but you do not hear about them in the media, you hear about the newbie that lost everything to a scammer and how this is an indication that this market should be heavily regulated.

[ololajulo]

The popularity of bitcoin is now on the top right? Those criminals are have the idea that they can use bitcoin as their payment method because they knew that it is untraceable. I hope those whose on the top that manages the reputation of bitcoin would do their best to get red of those criminals that using bitcoin for their bad doings.

This is a decentralized system of cryptocurrency and there is no chance for us to get rid of those people who are doing illegal stuff with bitcoin and in fact, bitcoin is not that top tier with it comes to illegal activities because there is already a lot of alt coins that got a better privacy features compare to bitcoin and we don't have a choice but to just cope up with those negativity because it is out of our control.

most of these crimes were wrought through exchanges. It is believed the criminal were from inside exchange team which at any time no exchange had denied. we have stronger anonymous coin that is mainly for dark trading, Interestingly they are not affected in trade volume even with present market situation though there use is limited.

[Hippocrypto]

We can't blame bitcoin or cryptocurrency for being involved in crimes or terrorism. It is just a tool used by people. The government and law enforcement agencies should fight exactly with criminals, and not with cryptocurrency.

Because of cryptocurrency criminal can do it anonymously without being caught by authority due to encrypted transaction of decentralized currency. Government should take actions on these kind of people who always commits crime particular on their cyber activities. Most of these people were scammers and hackers who usually breached the privacy of each individuals, specially with crypto funds.

[Faxmate]

I had no doubt that not only inveterate criminals would want to use cryptocurrency in their atrocities, but those people who wanted to earn a lot of money using cryptocurrency would not be able to resist the temptation, and thirst for profit would be provoked to fraud and other types of crimes  .  Big money always attracts bad guys and the cryptocurrency market is no exception.  I believe that this is another point because of which you need to have some control in the cryptocurrency market so that each user has the opportunity to legal protection of their funds and life.

You remind me of a simple reality, Honey attracts bees. Bitcoin is the juiciest fruit one can have in his whole life in terms of money. There are people in this world who survive by snatching other’s property. But we cannot and should  not blame bitcoin for this. It has been blessing for wise guys. Majority has changed their life with the help of crypto currencies. There are ways to protect digital assets from thieves. Owners merely needs to be smart.

[Sithara007]

Brazil is crazy!
Some of the scammers were killed by the investors, some are simulating their own death to escape the investors.
Some investors camped at corporate headquarters.
Worst of all, in some cases, the schemes are publicized in the media as advertising as a good investment, with celebrity backing and all.

There was a similar incident reported from India as well. Around one month ago, one individual (Abdul Shukoor) was killed by his own associates in the city of Dehra Dun, after he cheated them of close to $70 million in a cryptocurrency scam. As per media reports, he had scammed more than 50,000 people by promising them sky high returns by investing in cryptocurrency.

In third world countries such as India and Brazil, the law enforcement agencies are not prepared enough to deal with crimes involving cryptocurrency. As a result, some of the investors who get cheated will resort to their own ways to get revenge. And this was not an isolated incident. I have read about similar incidents from all around the globe.

Some of the scammers are simulating their own death, as you had posted. A perfect example is that of Gerald Cotten (the owner of the Quadriga CX cryptocurrency exchange). He had used the customer funds for trading and in the end he incurred huge losses, which he was unable to repay.

[Mumbeeptind1963]

Because of its anonymity feature , it is difficult for the legal officer to track it down, just like in many movies now. we can heard bitcoin as their mode of money to use in their illegal operations or when they need some things that they don't want to be track down. Maybe that is one of the reason why government still does not want to legalize  or make it as one of their currency because everyone can use cryptocurrency , everyone can earn without being monitored by the government.

[asus09]

Without cryptocurrency I think crime involving have risen, ist not fair when you fault crypto is make crime every where. Talking about the money always have issue and some big with crime happen if have chance, using bitcoin or altcoin and using money is not care, bitcoin or altcoin never support for using as crimes.

[ivakar]

I wonder how they came to that figures? this is an approximate or average analyst rating I believe, right? so this the question of that rating, how well it done.
And if the whole market were about 1 trln usd at 2017, how it is possible to loose// steal more then the market is?

[KnightElite]

"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.

Criminal activity through the use of digital currency is inevitable. There is saying money is the root of evil and it is true. I am sure that there are now many people who using digital currency to make illegal transactions.

[Cacingkemi]

"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.

Criminal activity through the use of digital currency is inevitable. There is saying money is the root of evil and it is true. I am sure that there are now many people who using digital currency to make illegal transactions.

It cannot be denied that crime against crypto has indeed increased, because cryptocurrency is very easily misused to embezzle money. and of course the increasing number of crimes against crypto is very influential on the movement of market prices and may even reduce its value

[fakefrombot]

I suppose most of crimes are money laundering via cryptocurrency? I think its pretty good since it gives value to cryptocurrency. And do not attack me with messages that I support illegal activities. No, I don't support them. But if somebody wants to launder already dirty money then let's he do this through crypto so that it raise its price.

[Pinkris128]

"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.

They are exaggerating to make the crypto industry the boogeyman, so the mass population will accept to be controlled easier via legislations, taxes, etc... It would have been interesting to give the figures for the fiats currencies. Because we think it's a lot, but if we could compare it with the dollar it would be peanuts! I remember a slogan saying "Create the problem and offer the solution"

Illegal activities with Bitcoin have decreased by more than half over the last 5 years....without Satoshi coming to say "hey! Here is the new regulation to fight the crime"

There are a lot of people get affected because of this..Illegal activities with bitcoin have decreased because of what happen. Crimes are everywhere and not just that, our world and society is full of things that might help to spread some crimes here. Involvement of cryptos in crime is not good to some investors because they will suffer from it.

[Bitcoin Seller]

The popularity of bitcoin is now on the top right? Those criminals are have the idea that they can use bitcoin as their payment method because they knew that it is untraceable. I hope those whose on the top that manages the reputation of bitcoin would do their best to get red of those criminals that using bitcoin for their bad doings.

Crime people prefer to use high anonymity cryptocurrencies, and Monero is their beloved crypto. Dash and Zcash are also in this list of "crypto favorites". Therefore, not Bitcoin but these altcoins, known for their high degree of anonymity, are used by criminals for the sale of drugs, weapons, terrorist financing, and other crimes. However, the percentage of the crime use of crypto is very low.

[JeffBrad12]

The popularity of bitcoin is now on the top right? Those criminals are have the idea that they can use bitcoin as their payment method because they knew that it is untraceable. I hope those whose on the top that manages the reputation of bitcoin would do their best to get red of those criminals that using bitcoin for their bad doings.

Crime people prefer to use high anonymity cryptocurrencies, and Monero is their beloved crypto. Dash and Zcash are also in this list of "crypto favorites". Therefore, not Bitcoin but these altcoins, known for their high degree of anonymity, are used by criminals for the sale of drugs, weapons, terrorist financing, and other crimes. However, the percentage of the crime use of crypto is very low.

Now every exchange where people used to trade their privacy coin is starting to delist any privacy coin it seems that they are running out of space to trade.
The concept of privacy coin is good but if it's attract more problem and criminality then I guess it's better to be removed more specifically if used as a way to do things you mentioned above. If it's what it take anonymous coin should be removed, just like in korea they are starting to do so.