Cyber Crimes and Crypto

[AlaEhBTC]

Whenever there is money related there is crime and that is happening in the crypto world. Crypto currency is still new, it is still crawling in the dark in terms of security that is why more and more people are taking advantage of it to commit crimes.

[guoyu78]

This is one of the reasons why people has been pushing the sec to approve the ETF, at least if approved, it will still have a way to regulate this because it is really becoming very alarming.

Although it is still not as much as the rate of scam that is going on within other systems, and fiat is even the worst but we don’t have to wait till it gets seriously worst before it is being curtailed, and if also not curtailed, it may make the cryptocurrency industry to start having a declined market because investors will lose trust in the system, but that will not stop people from using it genuinely, especially bitcoin, maybe this is the reason why altcoins are really declining and people are beginning to get fed up with it since that is the major place where all manner of scam is coming from really.

[qweqwe2121]

It is really shocking news but true and almost we have nothing to do in this decentralized ecosystem. Crypto currency is almost decentralized and it is known to all

This is not the first time Cryptocurrency has been used as a Crime field. All illegal transactions they consider safe with Cryptocurrency, such as Drugs, Weapons, and even Money laundering.

[jcarlo]

It is really shocking news but true and almost we have nothing to do in this decentralized ecosystem. Crypto currency is almost decentralized and it is known to all

This is not the first time Cryptocurrency has been used as a Crime field. All illegal transactions they consider safe with Cryptocurrency, such as Drugs, Weapons, and even Money laundering.

Actually this is an abuse of cryptocurrency. Crypto can be used as a store of value and this is a good thing, but can also be used for criminal activities. Everything depends on the user. Therefore, regulations regarding cryptocurrency are needed to prevent criminal actions in the cryptocurrency market

[andika2018]

Crypto used the decentralized system and that is difficult to control it consider anything in the decentralized system will be permanent.
Self regulation doesn't work when it comes to the decentralized ecosystem.
The criminals will not be stopped until all of crypto users will be fully educated about that. It's impossible to control crypto but it's possible to make users will be more educated.

I agree that in order to prevent fraud and misuse of cryptocurrency, it is necessary to educate the users of the cryptocurrency itself. If cryptocurrency users understand security and usage, I think cryptocurrency owners or investors will be more careful in using or storing it.

[guydin]

Yes, unfortunately all these crimes with cryptocurrencies are the dark side of the whole blockchain . But it always happens and there is nothing to be done, this problem must be solved at the level of settlement

Experts are sure that cryptocurrency will become the number one goal of the cybercriminals. They say that the largest part of these crimes is connected with hidden mining. Almost half of the people do not even realize that their computers are used for these attacks. It is mentioned that the number of cyber attacks for cryptocurrencies is constantly growing.

[teddyelwyn]

I would really like to know why people seem to gravitate towards using btc still in the dark web versus say privacy coins. Also super fascinating technology from ciphertrace that can track all of that

[pixie85]

I would really like to know why people seem to gravitate towards using btc still in the dark web versus say privacy coins. Also super fascinating technology from ciphertrace that can track all of that

Because bitcoin is bitcoin - the most accepted and recognized cryptocurrency. Also it's the most stable one.

 Privacy coins are great I agree with you but they are still altcoins. You need a wallet that supports them and you need your partner to also have it and know how to handle this privacy coin. Almost everyone accepts bitcoin first and then try new altcoins.

[Stanlo]

Cyber Criminals Netted $4.3B From Crypto-Related Crime in 2019

All these Criminal Acts is giving Crypto a bad name , i think there should be more measures and controls to be put in place in other to curb such occurence.


https://cointelegraph.com/news/cyber-criminals-netted-43b-from-crypto-related-crime-in-2019-study

Every good technology will always be used in criminal ways no doubt about it,even fiat is facing the same thing so its not a big deal to me,i wonder why crime is not giving fiat bad name when millions of criminals are using fiats as source to fund their organizations,the difference is there is good people and there is bad people its simple as that

[Eildosa]

But you know that's impossible. It will not be possible to regulate crypto, because it is decentralized. We have to pump their cyber literacy to avoid becoming a victim of criminals.

[cryptonewbie]

I do not know how but there has to be a way to curb cybercrime for cryptocurrency to even get a breather not to talk of being regulated. Many people do not take cryptocurrency serious because they do not believe it is secure enough and that perception has stunted its growth over the last few years.

[pixie85]

I do not know how but there has to be a way to curb cybercrime for cryptocurrency to even get a breather not to talk of being regulated. Many people do not take cryptocurrency serious because they do not believe it is secure enough and that perception has stunted its growth over the last few years.

Crypto crime rates aren't higher than fiat money crime rates. Mainstream media like to show crypto in a bad light because it's a novelty that undermines their long trust in their governments and fiat money.

Don't you know that governments control most of their media outlets? There's really not many channels that aren't pushing their own political agenda or the agenda of whoever pays more.

[South Park]

But you know that's impossible. It will not be possible to regulate crypto, because it is decentralized. We have to pump their cyber literacy to avoid becoming a victim of criminals.

This is the only way to diminish the crimes in the market of cryptocurrencies, people are so used to rely in a centralized party that they have forgotten how to protect themselves, this was in fact the main appeal of banks since people were unable to protect their own money but now that we have recovered our independence from banks thanks to bitcoin then we need to do our best to protect our coins, however taking into account what I see I will not be surprised if in the future people once again exchange their freedom for security when they deposit their coins in a bitcoin bank.

[santiPOGI]

There are crimes in any ways even with that FIAT system.
What is great with cryptocurrency is connected to blockchain system which transactions cannot be deleted and stays there forever.
Unlike in the system we have now in every country which can be manipulated.

[key4co.in]

Generally speaking criminal acts can't be entirely prevented, although the rate at which crypto related cyber crimes keep occurring is escalating. Recently, plus token made away with a huge sum of money, I pity the victims. Funny enough even with the awareness, people still fall victim to some scam investment platforms which are obviously ponzi schemes in a bit to double their money (greed).  The worst is hackers doing away with hard earned money of crypto enthusiasts, kidnappers requesting for crypto payments and other crypto related cyber crimes. Some argue that regulations will curb this but I don't think it will have great effect after doing my analysis.

[Duzter]

Crimes happening through cyberspace is there even before the existence of bitcoin and other cryptocurrencies. Over the days after cryptocurrencies into usage criminals have got an easier access. Earlier there were more and more criminal activities that were done in exchange for bitcoin. Over the days its usage on illegal needs and on criminal activities have decreased a lot and the importance as an investment and as an alternate for fiat have increased big.

[Hans Groober]

Cyber Criminals Netted $4.3B From Crypto-Related Crime in 2019

All these Criminal Acts is giving Crypto a bad name , i think there should be more measures and controls to be put in place in other to curb such occurence.


https://cointelegraph.com/news/cyber-criminals-netted-43b-from-crypto-related-crime-in-2019-study

Any area of human life today is susceptible to attacks by cyber criminals. This is due primarily to the fact that computers are very closely entered into our lives.
Cryptocurrencies exist in the computer world, so they are most prone to crypto threats. Here and the usual deception, and hacker attacks and viruses and much more. Be careful and do not neglect your computer security.

[nanaimogold]

Mitigating cyber crime would have been easier if the tenets of cryptocurrency have not been architectured to evade the long arms of the law. Decentralization and blockchain technology makes it difficult to track the digital prints of an offender

[cryptoperkele]

Yes, naturally criminals will use them like they did use cash before. That doesn't make cryptos bad. It just proves that they are good cencorship resistant currencies like cash was. Difference being that this has a way better change to go up in value because it doesn't get printed more and it's borderless.

[jerrison]

Cyber Criminals Netted $4.3B From Crypto-Related Crime in 2019

All these Criminal Acts is giving Crypto a bad name , i think there should be more measures and controls to be put in place in other to curb such occurence.


https://cointelegraph.com/news/cyber-criminals-netted-43b-from-crypto-related-crime-in-2019-study

No matter what people think about crypto, it has come to stay as it has loads of solutions to offer as it is now a global phenomena that people cannot deny. crypto is the best thing that has happened to the technological space and also has given so many investors enough reason to take advantage of investment opportunities. Blockchain is here to stay.