Crimes involving crypto have risen

[Ryker1]

Crimes involving crypto have risen every year with hundred cases for every year with bitcoin and altcoin, last time SEC have announce with many ICO scam and many exchange hacked and why they reject bitcoin as legal payment, bitcoin need higher security to make investor save with bitcoin investment and for new altcoin give profitable for every investment kinds. Bitcoin have approval for every complaining by investor and give good solution for bitcoin at the future keep from crimes.

it is true that there have been many crimes involving crypto, criminal acts and terrorism. I think this system must be fixed so that investors continue to believe.

Well, what investors need to be proven? Recently a child's abuse was caught by law enforcement and I think this is a start that some of them afraid of doing illegal activities. Absolutely, Crypto is a great advantage of criminals against the government because they think that they can't track every transaction that criminals made. They don't have access to it the reason why the crimes in crypto are rising this time. Also, drug lords use crypto in their illegal transactions as well.

But now, law enforcement has good knowledge of crypto transactions. They will able to trace via personal email account and the personal phone number. Indeed, Refer to this article. https://www.bbc.com/news/world-50073092

[yulionoo]

crime has always increased not only in cryptocurrency but also in fiat money transactions. and I don't think we can avoid this because in this world there will always be bad people who want to get money quickly without working. what we need to do is improve our security system. and always be careful in every transaction. and in my opinion news like this does not affect the price of bitcoin. because this news may not necessarily be just an issue.

[owengtam09]

Its expected to happen. When adoption is increasing more and more technologically inclined individuals will keep finding ways to get money out of it. Only here in the forum, there are thousands of scams already happened in the last 10 years of BTC. You'll be counting more of it as soon as libra is up and running.  Korean government wouldn't bother counting them.

Yes, there are a lot of scams already here in the forum, especially in airdrops. In that way, we can already prove that there are already crimes involving crypto and every now and then there is not only one scam. Even bounty campaigns, so before joining we should double or triple check the campaign or airdrop 1st before joining to avoid those scammers. For sure there are still here that still joining those scams that's why they are increasing because they know that there will always be someone who will accept their trap.

[Capt00]

crime has always increased not only in cryptocurrency but also in fiat money transactions. and I don't think we can avoid this because in this world there will always be bad people who want to get money quickly without working. what we need to do is improve our security system. and always be careful in every transaction. and in my opinion news like this does not affect the price of bitcoin. because this news may not necessarily be just an issue.

Precisely the point, scam is increasing I think almost everyday, especially that crypto is being popular now so scammers are targeting those new investors who doesn't have much knowledge yet about crypto. Crimes and scams are inevitable whether we like it or not that is why it is very important that we should all be careful in choosing the projects that we want to take part too.

[Meowth05]

"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.

No wonder why there's a lot of crimes in crypto. Crypto has an anonymity mechanism embed on it that is why people are using it in evil deeds.  This is also the reason why some countries are prohibiting the usage of any cryptocurrency in their country. The transaction through this currency cannot be easily traced that is why it is perfect for doing illegal things. Basically, crimes are inevitable especially on crypto and there's nothing we can do about it.

[NewRanger]

Crimes involving crypto have risen every year with hundred cases for every year with bitcoin and altcoin, last time SEC have announce with many ICO scam and many exchange hacked and why they reject bitcoin as legal payment, bitcoin need higher security to make investor save with bitcoin investment and for new altcoin give profitable for every investment kinds. Bitcoin have approval for every complaining by investor and give good solution for bitcoin at the future keep from crimes.

it is true that there have been many crimes involving crypto, criminal acts and terrorism. I think this system must be fixed so that investors continue to believe.

cryptocurrency system no need to be fixed.there is no correlation between crimes and crypto.they just want to take advantages the cryptocurrency anonymity.by doing crime in this market,their identity will not revealed.and ofcourser they freely to repeat their action.and SEC has important role to prevent and reduce risk scamming or fake projects that will harmed investors.

[djsugar]

No regulatory environment is one of the many reason for the rise of crypto crimes. It is easy to enter in cryptocurrency. But understanding the mechanism and technicalities isn't that easy. Hackers exploit this point. BTC is technically a bit advanced. Understanding the use of wallets and which exchanges to trust isn't easy. It is easy to manipulate people. Because of which with more awareness, more people are coming to crypto space and are becoming an easy target for hackers.

[teosanru]

I think crimes and economy both move hand in hand crimes have been prevelant since the biblical era and so has been the Economy. Bitcoin is no different. It does provide extra security and anonymity to its users but it is no guarantee that no negligence would be done on the part of users. Generally hacking are due to phishing and keyloggers which are prevelant due to negligence by consumers. Moreover using btc for criminal activities is also something people also do with fiat. Trillion are spent in fiat on various money laundering and corruption activities. So I think it's nothing new and hilarious that bitcoin too is behaving like a normal currency.

[jets567]

Crypto on its early stage is still evolving for the betterment of everyone but unfortunately these people who have bad intention found holes and take this opportunity to use it on their illegal activities. This criminal activities creates a bad image for crypto in the public which sometimes causes for a new investors to stay away from Crypto but regulators are aware of this criminals that is why they are creating necessary precautions to avoid this in the future.

[ashmodeus]

well, basically its a normal, it's a common thing on human life.
when something new is created, there will always be two sides that are different from each other,
for example , credit card .
for good perseption , its very usefull in daily life
but for negative perseption , well,when your data is known to others people, maybe your bill will swell suddenly.
in crypto also ,
its easy to use, anonim , simple.
no wonder bad people using crypto for negative thing.
and of course it will be continue risen , even more , since popularity of crypto also rising.

[tadpole_bitfrog]

Because cryptocurrencies are a decentralized currency, the user name and the newly created relatively short, it will have a lot of holes, why you have to risk to rob banks, cars, phones. , ... whereas cryptocurrencies are much safer. After this incident, more people will think of cryptocurrencies as fraudulent, unreliable, which is a sad news, I think that cryptocurrencies need to be more secure in transactions to keep users safe , except for greedy and lazy people who like to rob other people of their possessions.

[int03h]

Exchanges they have too much money and the security of these exchanges is not good. In addition, fraudulent cryptocurrency wallet projects in the form of ponzi also bring many risks for investors. In essence, the altcoin's blockchains and Bitcoin;s blockchain are hard to hack, nearly impossible.

[X-ray]

Well, what investors need to be proven? Recently a child's abuse was caught by law enforcement and I think this is a start that some of them afraid of doing illegal activities. Absolutely, Crypto is a great advantage of criminals against the government because they think that they can't track every transaction that criminals made. They don't have access to it the reason why the crimes in crypto are rising this time. Also, drug lords use crypto in their illegal transactions as well.

But now, law enforcement has good knowledge of crypto transactions. They will able to trace via personal email account and the personal phone number. Indeed, Refer to this article. https://www.bbc.com/news/world-50073092

Even the nature of blockchain system is transparent and it saves your transaction forever in the blockchain even the smallest detail (which second you made the trx) I can't see any other reason for all these criminals to use crypto(except anoymous coin) other than stupidity because every exchange nowaday requires kyc and that means cashing out for these criminals is a lot harder than it should be. using crypto for serious criminality is basically setting up a time bomb for yourselves. if they are not caught today they will in the far future.

[AirdropNotifyer]

"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.

I would say ! We only need to improve our minds to prevent from such things.
I think fake ico's are very harmful for crypto mostly peoples hate crypto because they lost their money by investing in ico

[FlightyPouch]

it is true that there have been many crimes involving crypto, criminal acts and terrorism. I think this system must be fixed so that investors continue to believe.

And what is wrong with the system? I don't think there is something wrong or something that needed to be fixed in this system. I don't think the system is the problem, it is the people. Crypto currencies are obviously decentralized, these criminals are "terrorists" are just taking advantage of that, what do you want to be fixed? make it centralized? The problem is the security of these exchanges, not the system.

[milesfull]

Global crypto coverage is growing of course amount of crime is growing too.
There are a lot of scammers in the industry

[dewin]

First thing which comes to my mind about using cryptocurrencies in crimes are money laundering and transactions on darkweb. It was said that from 2019, 829 million dollars in Bitcoin has been spent there. Security system which leaves much to be desired and lack of any regulations are the main reason, nothing will change without these key factors. There are associations set up to prevent such activities for instance Coinfirm, which recently expanded their offer by reclaiming stolen cryptocurrencies. Hope there will be more and more companies in the future like that one, which use blockchain technology to solve serious problems. If you want to know more, you can visit their website: https://www.coinfirm.com

[Yatsan]

it is true that there have been many crimes involving crypto, criminal acts and terrorism. I think this system must be fixed so that investors continue to believe.

And what is wrong with the system? I don't think there is something wrong or something that needed to be fixed in this system. I don't think the system is the problem, it is the people. Crypto currencies are obviously decentralized, these criminals are "terrorists" are just taking advantage of that, what do you want to be fixed? make it centralized? The problem is the security of these exchanges, not the system.

What made the involvement of cryptocurrency with crimes is that, the anonymity attained from using cryptocurrency secures the disclosure of one's information to its system only. You might ask "What information?" not personal infos, only the time,date and amount that is why it is commonly used to pay for international crimes like smuggling of goods obviously to avoid being caught by the authority. There is nothing for us to do with it since the system was born decentralized. But a middle-man (exchanges) can interfere someone elses action under their hand, they have the right to freeze and investigate when something unusual happen especially when talking about long numbers.

[Aikidoka]

Crimes have risen a lot lately and it's not only about bitcoin, it's also involving real money. I meant It's true that there's a lot of illegal things can be done using cryptocurrencies like Bitcoin or monero, which everyone can see that drug dealers using bitcoin in the Darknet marketplaces to buy and sell their drugs or weapons or even hiring some professionals to kill some people. Bitcoin was used cause it's untraceable and secure as well as the transactions are really quick.

[Blackdeath]

Crimes have risen a lot lately and it's not only about bitcoin, it's also involving real money. I meant It's true that there's a lot of illegal things can be done using cryptocurrencies like Bitcoin or monero, which everyone can see that drug dealers using bitcoin in the Darknet marketplaces to buy and sell their drugs or weapons or even hiring some professionals to kill some people. Bitcoin was used cause it's untraceable and secure as well as the transactions are really quick.

Indeed. Crimes involving crypto really have risen because there are a lot of beginners who also wants to buy and invest their money to crypto, that is why a lot of people have become a victim of scams and frauds because they don't have any idea and enough knowledge about it. It is the reason why a lot of countries like China banned bitcoin mining and ICO projects due to increase of scams.