Crypto Criminals got balls because no COP or law to tackle them

[ololajulo]

people dont believe a lot of things in this forum because of the distrust, so is this regulations proposal. Scammers are not guilty until and proven so is the process. I think its still the early stage, as scams are being detected and loophole are known so will be  and help the production of effective regulations. A lot of the popular high-end exchanges had broken the law at a time and staying in such a regulated environment like USA ATM is scary to them. Some are moving away and some that wanted are cautioned lately

[AniviaBtc]

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

Wait. You seem to be misguided. Using crypto currencies doesn't mean that you are invulnerable to the law. If you commit a crime, you are a criminal and you will be prosecuted. Doesn't matter if you use fiat currency to commit that crime or crypto currencies. You will still be a law breaker. It is just that finding the criminal becomes a harder task for them if they use crypto currencies.

I tend to agree, actually even in using digital, law is still effective. There is a law created to counter every situation even in crypto. With or without cops, using crypto in illegal activities doesn't mean that you can avoid being apprehended by the law. Once an individual committed a crime, there is always a law that will chase them.

I could not agree more, wrong is wrong even if every one is doing it and right is right even if no one's doing it. Crime is crime and law is law, even here on crypto space law is above us ruling the right thing and then there are authorities that executes it. These criminals were not able to capture because of the anonymity, and lead no where because of complex patterns.

[Pamadar]

There is a law and cops but the problem is we are in the internet which is huge and anonymous so, hackers and scammer can get away without getting caught very easily they can cover their tracks and move to another location and that's it and that makes them very hard to catch anyway, we should be careful to person dealing with and don't fall into scams

It's reality that we need to accept, since there's no regulations and we are working online the chance of becoming a victim is high. Best to make sure
in learning things that can avoid you or lessen the risk of getting into scammers hole. If you know how protect yourself online the chance is slim for
scammers to penetrate you.

Scammers and hackers after successfully hit their victims will just disappear and move to another target.

[xiboothrezi]

I think the main issue here is not the law, but the way crypto hides the scammers identity. We have vpns, mixers, Tor, and other sources that I don't know yet to hide our addresses and identities. The police would have a hard time trying to catch them. They can also hide their scammed assets to other wallets or other coins in order to lose track of the transactions. Scammers are getting confident because of the advancement of our technology and with that, cyber crimes are increasing.

You are right. In the case of cybercrime, the police do require more effort to catch the culprit compared to crime in the real world (which is easily traced). However, that does not mean it can not be done. The proof, in some cases of hacking and fraud under the guise of fundraising, has been successfully revealed by the police. It is also the responsibility of each of them to increase their awareness of all types of fraud that are used by fraudsters, always do analysis before taking any action.

[stephanirain]

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

It will all depends on which state or country you or the scammer lives. In some countries, the internet activities are possible to be traced just like in the movies. There is no anonymity for amateur cyber criminals. For instance, in many Southeast Asian countries are developing and continue updating their cybercrime laws and policies to protect not just their people but also their own economy from everything online.

[Pinkris128]

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

This is the dominant events but it is not entirely true in every place. There are government policies and bodies that aims to police the cyberspace even though it is almost difficult. Such transactions with cryptocurrency are often lead to where the scammers will convert the money he stole into fiat. And when such suspicions rose because that's too much of money to be transferred, investigations will start. The difficult part is to find evidence or else, everything is just an accusation.

[SirLancelot]

You're right OP. Cryptocurrency scammers are hardly being caught. I think some people are getting this wrong; since cryptocurrency is anonymous it is hard to get someone when they scam another person, and that's because there is no means to trace them. If a hacker should hack an exchange and steal the money they can move it to a coin mixer and that way you won't be able to trace them for good.

But, if there were regulation and everyone that wants to make use of cryptocurrency is required to verify their identity, people will be afraid to try such, even hackers because they know that with the information they have given to their wallet provider they will be traced easily.

I saw someone post about someone that was involved in a project that scammed people over $16 million dollars and was caught. Well, that's a different case, those people were caught because they exposed their identity, which is different from the case I have explained above. You cannot start a project and get investors without proving your identity, that's why, sometimes, scammers will try to impersonate someone else.

[Kunotcoin]

In some instances you are right but! each country has its own laws regarding that matter. While some countries has no law covering cryptocurrency related crimes. But i think most countries has a law about scams and frauds that involve money, but most of the enforcers are not aware about it. since it was a cryptocurrency related matter that needs an special attention.That's why i presume that the law was not implemented thoroughly. that's why those fraudster and scammers still continue to wreak havoc in the crypto industry.

[krb91]

Yes, I have been thinking about it- Is there no effective way to police cryptocurrency scams? If culprits can be apprehended and made examples of, it'll serve to dissuade them fast growing population of cryprocurrency scammers. Although I do not support regualtions but there has to be a way to crackdown on such individuals.

[Patrix_1]

The problem is that the majority of crypto community is still against any kind of regulations. If people are not ready to sacrifice anonymity, than we can expect such things to happen any time, because nobody is really after scammers.

[ven7net]

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

I believe that we ourselves should try to identify fraudsters and tell the community about them. Moreover, there are already tools to decorate scammers. For example this forum. Here you can mark a person who conducts fraudulent activities and can warn other participants in this way. Yes, of course, this does not mean that this fraudster will be sent into custody or fined, but still this is better than doing nothing.

[Pearls Before Swine]

It's hard to decipher what Op is talking about exactly, but there are crypto scammers who have gotten caught and have even gone to prison because of it.  Trendon Shavers, Mark Karpeles, and the silk road founder all suffered the consequences of illegal crypto use in one way or another and there might be others that I'm just not able to recall.

But I do agree that a lot of scammers get away with it if bitcoin or another crypto is involved, and it kind of makes sense.  A lot of people who are into crypto want to remain anonymous and don't want to go to law enforcement, which would expose them to scrutiny.  Crypto really gets a bad rap because of its dark market uses, and that's unfair in the extreme but it is what it is. 

[nicecrypto]

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

Exactly, if there are no form of control or regulations the space will be a total chaos, those who are always rooting for privacy and anonymity, it is not that it is a bad thing but what about the disadvantage it will bring, already we have too many scammers in the crypto space, and as long as there is no any control it will be even worse,
There is no way people can have complete freedom and expect things to be normal.

[IvugeoEvolutionCoin]

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

Even if tight regulations come to crypto, scams will still exist that's right. The first way to tackle scam is using one's common sense, knowing how to spot one and avoid it. Regulations will only reduce the scam rate, but not entirely curb it. And mind you, regulations still has its downsides, remember this is crypto and decentralisation should be upheld.

[sockpuppet1911]

I read people's post on this forum saying even if regulations find its way to crypto space scams will never seize to exist and they keep comparing it to real life criminals even when we have COPS ,POLICE FBI, COURTS crime rate is still increasing, well this is my answer to all of you, in crypto space we don't have COPs or Police to hunt down scammers, accepted, but what do you think will happen if there is no cops, police, courts in real life? criminal activities will grow alot with no boundaries, it will be the same thing with crypto space, if there are laws that can jail scammers at least they will start hiding and there will be FEAR, unlike when there is nothing to fear off scammers now, scammers have too much freedom compare to real life criminals where there is something to tackle them.

What an earth are you even talking about? One of the reason for regulations is that it's for making scamming harder by default for criminals.
Because lack of regulations they can't tackle these problems faster, but of course they will investigate some of them.
Regulations are just coming behind, this is state of the art new tech we are dealing with and the law can't keep up.

but what do you think will happen if there is no cops, police, courts in real life?

I am not sure where you are going with this. Just because people are saying that scammers gonna scam doesn't mean that people don't want regulations against them.

[JeffBrad12]

The problem is that the majority of crypto community is still against any kind of regulations. If people are not ready to sacrifice anonymity, than we can expect such things to happen any time, because nobody is really after scammers.

Kinda tough decision considering that people want decentralization but cant take care of their own problem of not being scammed either. Even if we dont want to sacrifice anonymity we’ve lost it anyway due to the KYC implementation in every exchange so if the government make a regulation what will be the differences regarding our privacy anyway? Its the same.

[huu78]

There will be no fraud if people are wiser than what they will take logically. Most people are tempted over the lure of the huge when the reply in logic is not possible. And they took it and it came to pass the deception, which yes they themselves why no more wisely transact in this digital world. They made a post and were outraged at the forum because it has been on the scam by an obscure person.

[Kiefner]

That's right. There are no police in crypto and no one can protect you. That is why everyone says that everyone should observe security measures and protect their funds on their own. After all, no one will help you if you encounter fraud.

[Lagduf]

There will be no fraud if people are wiser than what they will take logically. Most people are tempted over the lure of the huge when the reply in logic is not possible. And they took it and it came to pass the deception, which yes they themselves why no more wisely transact in this digital world. They made a post and were outraged at the forum because it has been on the scam by an obscure person.

You can't just outright blame people for being scammed because they have flawed logic I mean that's such an obvious answer everyone know that's the main reason but we should aswell help them to not being scammed even though that's hard and some people might be dumb enough to just go all in to a dumb project existed. That's the exact reason why there are law and regulation and the same thing actually could work if can be implemented into the ICO and IEO world however that'd take a lot of effort considering some scammers also hiding behind shadow luring stupid people to do stupid things.

[retnoanjani]

That's right. There are no police in crypto and no one can protect you. That is why everyone says that everyone should observe security measures and protect their funds on their own. After all, no one will help you if you encounter fraud.

Although many crimes related to cryptocurrency that have not been revealed, but the police can catch some of them, this is proof.

https://cointelegraph.com/news/police-arrest-alleged-india-head-of-now-defunct-bitconnect-scam
https://cointelegraph.com/news/australian-federal-court-imposes-travel-ban-fund-freeze-on-bitconnect-promoter
the law is not able to arrest everybody because they need evidence before arresting the suspects. As I said before, we have a law but because of technology some scammers are able to cover up their identity thus leading them to freedom. The government should get away from us but the law should stay with us because it could protect us from the criminals.

We must realize that the government must have warned that cryptocurrency is a high-risk investment. Each loss is the responsibility of each, is not most of it also anonymous? The police and the authorities do not remain silent, they will move if the evidence is strong enough. Unfortunately, most fraudsters have tricks that are strong enough to be difficult to uncover.