Crimes involving crypto have risen

[criza]

Ok, but how many dollars have been involved with illegal activities?  Currency isn't inherently bad or evil, it is just a tool used for transaction and it is on the humans on what it is used for.  A baseball bat isn't good or bat but it can be used for a weapon, now lets ban all baseball bats.....

But, still regulating the use of crypto currency is impossible in the present because of its decentralized nature making it hard to control especially when it have been used unethically. There is still a chance to change it given with time and effort for a better environment for everyone.

[Duzter]

"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.

There have been many attempts from exchanges to prevent hacking, but most have failed.  Because blockchain technology is mostly open source, it is quite easy for hackers to get information.  Therefore, the system security must be more and more advanced.

Hacks are in high number, and this is not because of the open source feature of the blockchain technology. Bugs will be there with each and every application. Hackers will be observing the exchange so closely, and even a small bug could lead to big loss of funds. This is why updation were done regularly by the development teams, along with more competition to find errors and plans to make exchanges and blockchain usage in a much secure manner.

[@prashant]

Scammers are always lurking to attract new holder so it is awareness thing. We have also seen major exchange cracked  and loss of millions of fund so decentralised exchange has slowly becoming top priority. In the future as well we will se hack attempts so this is nothing new , exchanges should increase their security and try to move towards decentralised way and educate current new users about these things.

[Reatim]

Scammers are always lurking to attract new holder so it is awareness thing. We have also seen major exchange cracked  and loss of millions of fund so decentralised exchange has slowly becoming top priority. In the future as well we will se hack attempts so this is nothing new , exchanges should increase their security and try to move towards decentralised way and educate current new users about these things.

well scammersa re only part of crimes that involving crypto,and we should learn many about this and not only scams or hackings.

there are some thread that i have read about Kidnappers Victimizing Crypto people or people closes to cryptonians so be ware of this,and some cases that their houses are ransacked by the criminals .

this is what happen if the popularity of cryptocurrency are also arising ,there are many individuals that get attracted by this bad humans.

what we must do is keep the security,keep not to be tracked and never let people learn our crypto activities unless our trusted one

[aamirsuh]

Unfortunately, this is a natural result. Because as the number of people using bitcoin and similar investment instruments increases, the rate of transmission of crime will increase. Bitcoin is actually one of the most followable projects in this field. However, if it is transferred to highly confidential coins, a different result will be obtained. Zcash and Dash are still the most potential coins.

[Bezobraznike]

Unfortunately, this is a natural result. Because as the number of people using bitcoin and similar investment instruments increases, the rate of transmission of crime will increase. Bitcoin is actually one of the most followable projects in this field. However, if it is transferred to highly confidential coins, a different result will be obtained. Zcash and Dash are still the most potential coins.

   Smarter criminals are using Blockchain for their transactions rather then banks. I agree with you Aamirsuh, natural growth is the reason for
increasing crime rate, more people definitely means more of everything.
   I agree with you about potential of Zcash and Dash, not only them, other private coins have potential for the future too. We need to be aware
that private coins are good for us, but they are good for the criminals too I guess.

[kodtycoon]

Unfortunately, this is a natural result. Because as the number of people using bitcoin and similar investment instruments increases, the rate of transmission of crime will increase. Bitcoin is actually one of the most followable projects in this field. However, if it is transferred to highly confidential coins, a different result will be obtained. Zcash and Dash are still the most potential coins.

   Smarter criminals are using Blockchain for their transactions rather then banks. I agree with you Aamirsuh, natural growth is the reason for
increasing crime rate, more people definitely means more of everything.
   I agree with you about potential of Zcash and Dash, not only them, other private coins have potential for the future too. We need to be aware
that private coins are good for us, but they are good for the criminals too I guess.

growth and improvement do happen naturally but do we only get crimes from it all? is there nothing more positive to be proud of from the growth of the crypto market? i think both of them are increasing simultaneously and we don't need to exaggerate about the increasing crime because on the one hand there is also something worthy of pride for the growth that has continued so far

[desticy]

Crimes will be significantly less if everyone goes over to decentralized blockchain technologies with the ability to track dirty, stolen, or obtained money in any other unfair way.
Of course, this approach contradicts some of the principles of cryptography, but this is not the worst option for stopping the ongoing lawlessness.

[meliodas]

Cryptocurrency crimes are one of the main causes of delay in the mass adoption of cryptocurrency. Imagine educating someone on crypto and then robbing the guy, either by sending assets to the wrong address, hackers, or by investing in dubious crypto-startups. However, in the future sooner or later this will be solved and crypto will become massively adopted.

It is normal to see crimes in any type of currency because to be honest, fiat is the most involved in any crimes because that is where the most transaction takes place. The action that we should do is to educate other people, mostly skeptical, that cryptocurrency is better than that. There is a lot of potential behind cryptocurrency rather than just a tool for crimes.

[X-ray]

   Smarter criminals are using Blockchain for their transactions rather then banks. I agree with you Aamirsuh, natural growth is the reason for
increasing crime rate, more people definitely means more of everything.
   I agree with you about potential of Zcash and Dash, not only them, other private coins have potential for the future too. We need to be aware
that private coins are good for us, but they are good for the criminals too I guess.

To be honest those privacy coin are being abused for criminal activities a lot the bad result outweight the intended purpose to provice true privacy to anyone. Now the delisitng enforced by the government has begin and just waiting for time for all these privacy coins to have a hard time cashing out due to lacking marketplace for it to trade and liquidate. Really unfortunate but that's because the people themselves. That's also why we can't get the good thing without being abused like that.

[Mihaylovic]

"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.

it is really hard for the governments to control the crypto criminal activities. in such an anonymous system, it is really not possible to follow what kind of transfers are going on. i hope they can find a way to manage with this.

[ice098]

"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.

it is really hard for the governments to control the crypto criminal activities. in such an anonymous system, it is really not possible to follow what kind of transfers are going on. i hope they can find a way to manage with this.

It is hard for the government to control the criminal activities inside the crypto world because of the system in which the users IP addresses can be hidden from others and if the criminals use the cryptocurrency as a medium from their transactions, the government or even the police cannot track them. And this is one of the advantages of using cryptocurrency although the crypto team is still falls under the government but the government doesn't have authority to manipulate the crypto world.

[makolz26]

"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.

it is really hard for the governments to control the crypto criminal activities. in such an anonymous system, it is really not possible to follow what kind of transfers are going on. i hope they can find a way to manage with this.

It is hard for the government to control the criminal activities inside the crypto world because of the system in which the users IP addresses can be hidden from others and if the criminals use the cryptocurrency as a medium from their transactions, the government or even the police cannot track them. And this is one of the advantages of using cryptocurrency although the crypto team is still falls under the government but the government doesn't have authority to manipulate the crypto world.

It's really hard especially that they don't have any idea too what Bitcoin or what crypto is, so I must say that our police or the NBI itself should also be aware what it is so that when someone reported that they got scammed by this project at least they can file legal action with them and not just ignoring it because they don't know what to do as well.

[Mihaylovic]

"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.

it is really hard for the governments to control the crypto criminal activities. in such an anonymous system, it is really not possible to follow what kind of transfers are going on. i hope they can find a way to manage with this.

It is hard for the government to control the criminal activities inside the crypto world because of the system in which the users IP addresses can be hidden from others and if the criminals use the cryptocurrency as a medium from their transactions, the government or even the police cannot track them. And this is one of the advantages of using cryptocurrency although the crypto team is still falls under the government but the government doesn't have authority to manipulate the crypto world.

i think there is no any record about ip adresses on blockchain. As you told there is no way to record or track any ip addres in common blockchains. I dunno maybe they develop an alternative blockchain with a tracebility. But the question is, will the users want such a thing? wont they prefer to stay anonymous?

[Debonaire217]

Do we really need a way to make cryptocurrency centralized with full of regulations? With allot of scams and crimes like this arises, it is no doubt we need to adjust either to have regulation or to regulate ourselves to be careful enough to the security measures we need to follow to avoid this anymore and make our market more reputable.

[ubercool]

With ransomware, there was a big black spot on crypto as it was used in ransoms which was in news for days. There are many other examples like this and it's a thing everyone in the community has to think about.

[Sanugarid]

"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"

With ransomware, there was a big black spot on crypto as it was used in ransoms which was in news for days. There are many other examples like this and it's a thing everyone in the community has to think about.

There are many people trying to get some income in the crypto and because of that, they dont think too much what could some possible troubles or problems might happen when they get involved there. With that problem, we have encounter some problems like online crimes like scam activities and illegal activities that other people perform online. But with the help of some tools like ransomware and other application that helping to prevent this kind of activities to happen, we mostly thankful because we are not letting that to spread.

[Peashooter]

"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 is alarming, and these kind of news is one of the factor why do people is still refusing to accept Bitcoin as part od the exchange due to this kind of news and issue which I think is really scary especially for those who for ages just to have this profit, and as a precautionary act we should be more careful in filling up forms online and involving ourselves to anything that is related to Bitcoin transaction since as we know even just using your smartphone you can perform transactions already which we can say that hackers and scammers also evolved themselves to be able to hack smartphones and steal infomation.

[iamsheikhadil]

I think every coin has two sides and if someone uses bitcoin or the technology of Bitcoin for misuse, we should catch the perpretor and give them harsh sentence but in the same way, crime is subjective as well, which can't be a simple reason to not acknowledge and promote a privacy powered currency system like crypto.

[SummerBliss]

This is what you get when you remove a central authority from monetary functions. Bitcoin made everyone responsible for their own funds. But we are so engrained to the traditional monetary system that we always need someone in case of scams or hacks. But because of Bitcoin which isn't really regularized in many countries, the problem can't be solved by a third party. You need to take care and take every possible precautions in keeping your funds safe. Choose trusted wallet and trading sites.