Corrupt people in crypto

[Dunamisx]

There's no doubt about it that we have corruption everywhere and that in cryptocurrency has to do with our level of exposure in identifying those kinds of cryptos that could lead to scam especially when dealing with centralized ones which have not been in existence over years but are seeking to boom their project by traffic hype on investors, they manipulate things to suite others in other to decieve them into investing, by now i think the recent events on scams will make people realizes more need to avoid some coins and also research properly with what they invest into before getting scammed the second time.

[SirLancelot]

I think there's really no new player at all. They're just changing their styles and approach to the market because they've already been here. They know the know-how and stuff so they're stepping on this market quite easily for them and since they've been here before.
While the newbies they are targeting, they've got no idea how they're being done and caught by these people because they've been doing that for so long. We may not be judgmental but when you observe what they've been doing, it's so hard to catch them but when you've seen the similar of what they've done in the past, you'll figure it out.

If the scammers are anonymous and haven't been caught out on the past then they can always return with another new identity once their old scam business have been busted out and not only newbies are affected here but even the people who have been here before or the people who already have experience may still get caught out by their scams if they change their approach because there is also pro crypto players who likes to venture new and risky stuffs thinking that no bad things will happen to them because they already have an experience in this field but they shouldn't be over confident and underestimate the ability of the scammers.

[odunybiz]

In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.

[19Nov16]

Corruption that looks smooth but very promising and big profit is to create a cryptocurrencies project, even the last 5 years trend shows the level of financial crime from Cryptocurrencies continues to increase, it is natural that many exchanges plan to make regulations so as to make investors more confident in cryptocurrencies.

[Kadal Ijo]

In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.

Opportunities for corruption can occur at any time, especially cryptocurrencies, the level of competition is very tight and makes developers sometimes impatient to compete in the market so that the best thing is with corruption, FTX will definitely think that the business they do will be safe and unknown to anyone, unfortunately when a test occurs Small then they just regained consciousness and difficult to refute the facts.

[RealMalatesta]

If the scammers are anonymous and haven't been caught out on the past then they can always return with another new identity once their old scam business have been busted out and not only newbies are affected here but even the people who have been here before or the people who already have experience may still get caught out by their scams if they change their approach because there is also pro crypto players who likes to venture new and risky stuffs thinking that no bad things will happen to them because they already have an experience in this field but they shouldn't be over confident and underestimate the ability of the scammers.

That's what they usually do, they end up scamming people and then get a new name and scam people again. It is clear that if someone realizes they could steal money from others and actually make a profit from it and nothing happens to them, they will keep doing that for a long time.

I hope that we wouldn't see more scammers but as long as there are gullible people who fall for others, we are not going to really get less scammers. Hopefully one day we will see a lot less scammers but it will not be that easy and it will be a ton of issues at the same time. It's not something that can be stopped, and I am guessing that it's going to be a trouble forever.

[Bitstar_coin]

The emphasis should be that people should stop giving centralized exchange the reason to gamble with their money in the first place. if there are fewer funds in cex, there won't be enough to mess around with.
Store your funds in your personal wallet. These people became corrupt because of investors' indifferent attitudes toward risk management.
Imagine somebody putting their life savings in crypto and in one centralized exchange. How smart is that  

[South Park]

If the scammers are anonymous and haven't been caught out on the past then they can always return with another new identity once their old scam business have been busted out and not only newbies are affected here but even the people who have been here before or the people who already have experience may still get caught out by their scams if they change their approach because there is also pro crypto players who likes to venture new and risky stuffs thinking that no bad things will happen to them because they already have an experience in this field but they shouldn't be over confident and underestimate the ability of the scammers.

That's what they usually do, they end up scamming people and then get a new name and scam people again. It is clear that if someone realizes they could steal money from others and actually make a profit from it and nothing happens to them, they will keep doing that for a long time.

I hope that we wouldn't see more scammers but as long as there are gullible people who fall for others, we are not going to really get less scammers. Hopefully one day we will see a lot less scammers but it will not be that easy and it will be a ton of issues at the same time. It's not something that can be stopped, and I am guessing that it's going to be a trouble forever.

Scammers are probably going to keep being a problem for the foreseeable future, and this is because the legal system currently in place makes very difficult to catch them, if an investor is in country A, the scammer is in country B, the project is registered in country C and the money is sent to a bitcoin address then it is a complete nightmare to try to catch the scammer due to the cooperation that will be needed to get to him, and that is if there is an investigation at all because even if the scam reaches millions of dollars most users will lose just a few hundreds dollars, which makes way more expensive for the police to prosecute the crime than the amount of money stolen.

[naira]

A lot of bad incidences happened in crypto community this year including:

1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi

All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?

No one is not greedy when it comes to dealing with large sums of money. After all, they are given the opportunity to control it in a centralized container and we still entrust the assets in it without ever thinking that every single incident will demand that other events be repeated. In the crypto world, you cannot trust anyone to secure assets other than yourself. Because of that greed is in each of us and will never disappear.

This phenomenon has occurred many times and we should have been aware of the risk since it entered a centralized container.

[erep]

Or are these unavoidable ?

Pay attention to the list of coins above, that the list of altcoins is managed by the team and we will experience the worst risk when they are greedy to sell the token allocation from the team wallet. The list of scam coins above is only part of the hundreds of scam coins that scammers create every day, the solution to avoid this problem is that don't invest in altcoins because the main factor for losses experienced from altcoin investments. So if you are involved investing in altcoins you have to be very careful to choose altcoin investments, I only believe in investing in ETH and BNB for the top altcoins.

[Fortify]

A lot of bad incidences happened in crypto community this year including:

All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?

Let's face it, before the drop from 65k Bitcoin looked like the ultimate get rich quick scheme - everyone saw it storming up day after day, month after month, for several years. It was hard to go wrong and these schemes draw in all sorts of shysters and conmen. They had all the evidence they needed, in the form of a graph that trended up for a long time, to convince people that it made a great investment and they were able to skim off a commission in various stages. Obviously it's only when the bubble bursts that we see a vast swathes of people who really had no clue what they were buying and simply got swept up in the hype, unfortunately the greed that drove them in the first place means they will likely find it hard to cut their losses and run on the way down too.

[Furious 7]

In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.

Opportunities for corruption can occur at any time, especially cryptocurrencies, the level of competition is very tight and makes developers sometimes impatient to compete in the market so that the best thing is with corruption, FTX will definitely think that the business they do will be safe and unknown to anyone, unfortunately when a test occurs Small then they just regained consciousness and difficult to refute the facts.

The problem with this is that we know that sometimes what we think is good will surely be misused by some parties and of course this becomes more of a concern so that we continue to be careful because things like this, although not all of them, but will definitely be repeated in future times. is coming so we have to be prepared from the start and not really believe in anything in crypto.

[carlfebz2]

In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.

Opportunities for corruption can occur at any time, especially cryptocurrencies, the level of competition is very tight and makes developers sometimes impatient to compete in the market so that the best thing is with corruption, FTX will definitely think that the business they do will be safe and unknown to anyone, unfortunately when a test occurs Small then they just regained consciousness and difficult to refute the facts.

The problem with this is that we know that sometimes what we think is good will surely be misused by some parties and of course this becomes more of a concern so that we continue to be careful because things like this, although not all of them, but will definitely be repeated in future times. is coming so we have to be prepared from the start and not really believe in anything in crypto.

When we do talk about money then everything could really be changed up in a snap no matter how reputable or known a person or company/platform is which it is really just right that you should be mindful about that risk management.Corruption and frauds or any some sort which is connected to this could really happen on this space and this is why its really that right that you should really know on what you
should gonna do.Make yourself prepared and always consider on taking up investment on which you are really that prepared for whatever things that might happen along the way.
Expect the unexpected yet this had been always the case specially on dealing with this crypto space where everything could possibly happen.

[qwertyup23]

A lot of bad incidences happened in crypto community this year including:

1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi

All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?

I think that the very nature of cryptocurrencies (they exist on the internet) make it a valuable target for scammers due to its immense price in the market. Even if famous exchanges have their security running, they are always a target of scams and malware from hackers.

Now that there are various data about the reputation of exchanges being hacked, the only way to protect yourself is to be proactive. Take all the necessary steps in order to safeguard your cryptocurrencies in your local wallet in an exchange. For example, instead of keeping your BTCs inside an exchange, transfer them into an external storage/wallet for extra layer of security.

[ChiBitCTy]

This is just a very small list, and I do mean VERY SMALL list of names for those whom are corrupt in this space.  I've been around bitcoin since the 2014 days and I've seen it all.  Worst part is, it doesn't seem like people are really learning the lessons they should be from all of this stuff.  FTX is a prime example of people not learning from the Mt Goxx debacle.

When will people wake up?  I think this is why more governance is an okay thing (as long as it's not taken too far).

[Pejoh Asu]

Corruption has become a culture and human greed which is certainly very detrimental, a variety of corruption has occurred and makes many people cry because of loss of money, and the trend of corruption in cryptocurrencies, especially Exchanges is a very dangerous thing, the owner will move assets and then complicate the withdrawal process or try to find mistakes or try to find mistakes or try The user was blocked, and we had to be vigilant because I felt the loss of money in several top exchanges.

[Punakawan]

There's no doubt about it that we have corruption everywhere and that in cryptocurrency has to do with our level of exposure in identifying those kinds of cryptos that could lead to scam especially when dealing with centralized ones which have not been in existence over years but are seeking to boom their project by traffic hype on investors, they manipulate things to suite others in other to decieve them into investing, by now i think the recent events on scams will make people realizes more need to avoid some coins and also research properly with what they invest into before getting scammed the second time.

The most widespread case of scam, of course, is the case of FTX that makes many users lose money, I think this is an important lesson that in our lives we must be very selective and do not really believe in many projects, now maybe we still have a lot of good exchanges but me sure cases like FTX will be repeated again.

[usekevin]

The statement was different one,this applies to all the field.Not only the crypto currency ,they also involve in all the business.I hope you don’t forgot the thing,the price of all the coin is not a stable one.Even the price of bitcoin also not same all the time.People will good interest in the trading will do the trading at all the price.Only this things affect the involvement of new people to the forum and investment.By this the market liquidity will be reduced in the crypto currency trading.

[Ani1985]

Many things are done by fraudsters to get money quickly, ICO or IDO trends are still massive and many projects that have the potential to become scams, it can be said that the FTX case is common in Exchanges, previously there have been many exchanges that have become scams for many reasons such as attacks hackers, hacked and so on.

[G_Besar]

The most widespread case of scam, of course, is the case of FTX that makes many users lose money, I think this is an important lesson that in our lives we must be very selective and do not really believe in many projects, now maybe we still have a lot of good exchanges but me sure cases like FTX will be repeated again.

Cases like what happened to FTX will only happen again if exchange owners can be very greedy and want to run away with other people's money. But I don't think that all crypto exchange owners are greedy because among so many exchanges there must be some good exchanges that are managed by good people in them even though it can't be predicted easily because greed is an intention that comes from someone's heart.