Corrupt people in crypto

[Furious 7]

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.

Especially in this case we know the risk of being in Crypto is clearly higher than others so indeed caution is a good point because we still don't know about everyone's character even looking at the FTX case which was fine in the first place in terms of their reputation being destroyed in a matter of days so we really can't know just from the outside.
I think this is a very good lesson because with this we are aware that we cannot fully believe in something because it can and does happen again and again, especially for the Crypto world.

[sana54210]

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.

Humanity is corrupt from the core, that's the trouble we have. The ones with power wants you to live a certain way, changing and ranging from very low to very high depending on what works for them, but they want to live a different life. Politician who says they are against X could end up doing X thing themselves in secret, and this is everywhere.

Business person that goes out and says "women in workforce is very important to us and should be to everyone" and then not promote a woman and pick a lesser candidate because they are man. That is why corruption will of course be in crypto as well, it's people who use it, and we are corrupt in our core.

[Lida93]

Corruption is inherent in humanity and can't be totally eliminated as there are certain persons amongst the elite class that benefits from it. We may try to control it but definitely can't end it, same can be said of in the cryptocurrency industry, all you need to do is to minimize your level of greed and be calculative in the kind of risk you venture into based on maybe the kind of profit and benefits that accrues to it.

What may be running smoothly from the initial might then be corrupted by a certain few that might got involved in the process and thereby through their act bring an end to it and I think this is the fate of some of these coins.

[coolcoinz]

We can't blame only the thieves and scammers. Some of them can't help it. It's funny that there's so many mentally ill people who are narcissistic sociopaths and compulsive liars in crypto. The late John McAfee was one of them and lately Do Kwon and SBF.
There's a recent interview with SBF on Youtube, you can check it out if you're able to listen to that guy for 20 min, I sure had some difficulties. He's constantly lying, trying to make himself look like he's the victim, like it was all Alameda, like Alameda was a separate entity that did things on its own... He denied having backdoor access to the exchange that allowed him to move funds when all his co-workers said that he had that and the funds were obviously moved by him because he was buying properties left and right. Fucker wanted to act like a poor guy, driving a Toyota, but in the meantime he was buying himself a yacht with stolen money.

[Quidat]

Corruption is inherent in humanity and can't be totally eliminated as there are certain persons amongst the elite class that benefits from it. We may try to control it but definitely can't end it, same can be said of in the cryptocurrency industry, all you need to do is to minimize your level of greed and be calculative in the kind of risk you venture into based on maybe the kind of profit and benefits that accrues to it.

What may be running smoothly from the initial might then be corrupted by a certain few that might got involved in the process and thereby through their act bring an end to it and I think this is the fate of some of these coins.

True, and there's no way on getting rid of it specially into those people who are sitting in the top of the chain or power ranking then pretty sure that they would
really be taking up advantage into their positions just to make or do other benefits and able to snip out some funds or money which is something very typical in todays reality.
We cant really just be surprised on what are the probabilities and as long there are money get involved, no matter what industries we are talking into
whether on crypto or even simply with politics or other industries then there's always corruption attached to it.

[Zilon]

A good investor makes provision for the worst occurrence, Before making an investment there should be a reserve incase it doesn't work out or  incase the project fails . Using all one has to invest in crypto including Bitcoin is a big sign of greed. There should be a plan B incase things get sore. Scammers will never be eradicated from the crypto space. It should be a reminder that where ever success is found opportunist will want to reap from where the never sowed.

I will never blame scammers for taking what is not theirs i will blame the greedy for hoping to get so much from going all in to a project that has no consensus, no structure, no reasonable purpose. I believe the crypto space is forever evolving new opportunities are coming in daily so why risk it all in something that is not certain. keeping the risk affordable will even make an investor more prepared for bigger offers.

[coupable]

A good investor can easily conclude that the crypto field is one of the most dangerous areas for investment, and therefore the profit rate is large. And one of the manifestations of this danger is not only the sharp fluctuation of prices, but also the presence of corrupt people who are ready to deceive you or persuade you to hand them your private keys or sell you false products that are useless, such as those who sell investment advice in private Telegram channels.
Special care must be taken while investing. There is no guarantee of the integrity of individuals in this sector, which takes place most of its activities virtually on the Internet.

[Raflesia]

A good investor can easily conclude that the crypto field is one of the most dangerous areas for investment, and therefore the profit rate is large. And one of the manifestations of this danger is not only the sharp fluctuation of prices, but also the presence of corrupt people who are ready to deceive you or persuade you to hand them your private keys or sell you false products that are useless, such as those who sell investment advice in private Telegram channels.
Special care must be taken while investing. There is no guarantee of the integrity of individuals in this sector, which takes place most of its activities virtually on the Internet.

In fact, they should be aware that this is where a lot of scams are happening, so they should consider what type of investment and coin they want in this case.
The big profit we get is a bonus from us being here, but of course we can't just look at the sweetness because we have to pay attention to the worst possibilities that will happen and of course one of them is fraud like this so we have to always be vigilant so we don't get caught up in something like this.

[Wong Goblog]

Corruption and scam is currently very sad and makes many panic, many large projects have collapsed because of the greed of the developer so as to make the market drop, the Luna and FTX case makes the market continue to drop and we are certainly worried if there is the same case again so that it makes the market continue to continue dim and slowly die.

[BRINIRHA]

Corruption and scam is currently very sad and makes many panic, many large projects have collapsed because of the greed of the developer so as to make the market drop, the Luna and FTX case makes the market continue to drop and we are certainly worried if there is the same case again so that it makes the market continue to continue dim and slowly die.

actually after the FTX bankruptcy we have seen in the near future several other exchanges that have filed for bankruptcy. However, it seems that this has not had much effect and now it seems that crypto players are getting used to such fud news and I think the fear indicator is starting to decrease. and the market is slowly recovering. But I didn't know there would be Fud especially in front there which would make the market go down again.

[panganib999]

It is avoidable when hodlers choose rightly to invest properly and not giving centralised system this chance to always scam them. The point to this is to not give scammers this opportunity, close the loop holes. For exchange you don't leave your coins with the exchange this is why the huge sum of estimated $10 billion was lost in FTZ scam. Another is to invest major in bitcoin because some investors want to buy cheap unit of coins , accumulation of satoshi is more secured.

These crypto projects were the "right fit" so they say when they were at the height of their productivity, now it's dirt cheap and people are calling it a shitcoin despite signs and analyses back then stating these projects are the next big thing in crypto. The thing is there's no real "right fit" project at all, only projects that deliver what they promise and go beyond what they are ought to provide. Analyses could only get you so far, and is always to be taken with a grain of salt no matter how reputable a project is. Doing your own research is still king, because you can't trust anyone more than you can trust yourself and your gut feeling as well as a research and study of market parameters that you yourself have observed.

[Riodarvg]

More problems arise due to human greed and lapses in financial management. Centralized exchanges are very risky. We should not trust any exchanges lightly. We should trust DEX more and store assets in personal wallets.
In the encryption industry, we must have more experience and ability to choose, and we must always remain vigilant and redouble our caution so as not to fall into more difficulties.

[Swordsoffreedom]

A good investor makes provision for the worst occurrence, Before making an investment there should be a reserve incase it doesn't work out or  incase the project fails . Using all one has to invest in crypto including Bitcoin is a big sign of greed. There should be a plan B incase things get sore. Scammers will never be eradicated from the crypto space. It should be a reminder that where ever success is found opportunist will want to reap from where the never sowed.

I will never blame scammers for taking what is not theirs i will blame the greedy for hoping to get so much from going all in to a project that has no consensus, no structure, no reasonable purpose. I believe the crypto space is forever evolving new opportunities are coming in daily so why risk it all in something that is not certain. keeping the risk affordable will even make an investor more prepared for bigger offers.

You are right, it's funny when investors lose money, and they find ways to blame the developers without ever admitting that they are greedy. If they are not greedy, no one can cheat them. If you want high profits, you must accept high risks, if you want to be safe without risk, invest in gold, and don't invest in cryptocurrencies. The market is a battlefield, there are winners and there are losers, so make sure you are ready to invest.

[Semar Mesem]

Cryptocurrencies are indeed the easiest project to develop money, I've heard the story of someone who had a capital of $ 1 million then made a meme token project on the BSC network, long story short in 6 months he was able to get a profit of more than $ 15 million, after the project died he made many more projects.

[Rehan Zakir]

No doubt, there are lot of people's that are always thinking about how to scam with the people's.
There are lot of hackers that have already hacked biggest exchanges of the world such as bitfinex, kucoin, binance, and ftx exchange. Hackers steal millions worth of dollars from exchange. and sell these dollars in market and dump the whole market. So, this is the most ridiculous activity of the crypto market. 

[Bitstar_coin]

There are bad eggs in every sector, no place is free of these type of people. But they seem to be more in crypto because of its decentralized no regulatory system nature. Hence it is upto the investors to do their very best to limit such situations.
If you look at all the events that occur, they all have one thing in common - which is having lots of investors money under their care. Money always come with temptation and a reckless team with so much money under their control will get carried away.

[Lubang Bawah]

No doubt, there are lot of people's that are always thinking about how to scam with the people's.
There are lot of hackers that have already hacked biggest exchanges of the world such as bitfinex, kucoin, binance, and ftx exchange. Hackers steal millions worth of dollars from exchange. and sell these dollars in market and dump the whole market. So, this is the most ridiculous activity of the crypto market. 

According to reports from many sources at this time cryptocurrencies is the second place used for scams, this is what makes many countries worry and make strict regulations, in my country all exchanges must be officially registered so that the site is not registered, it will be banned, p. which is natural because the scam case report from Cryptocurrencies is increasingly massive.

[Leviathan.007]

That's sad to see these happen to the market especially if you consider most of these dramas made people not trust the market like fore and had a bad effect on the market but regardless of that, I see one common thing between all these cases, people lost money in every single drama and that's because of lack of knowledge, for example, people were holding money of ftx and they lost money there because they were trusting that platform and holding their money there also in all the cases the owner paid much less compared to the users they were using these platforms.

[FanEagle]

it's funny when investors lose money, and they find ways to blame the developers without ever admitting that they are greedy. If they are not greedy, no one can cheat them. If you want high profits, you must accept high risks, if you want to be safe without risk, invest in gold, and don't invest in cryptocurrencies. The market is a battlefield, there are winners and there are losers, so make sure you are ready to invest.

Developers are the reason why something goes down, but it is investors to blame for putting their money into something like that. We could separate the two and say that it is both true. Yes, it is the devs of the projects that make mistakes that drop the price, so the investors are not wrong to blame developers for the price drop, that part is true.

However, they do not realize that it is them to blame for putting their money into a project that has a developer which failed eventually, find better developers to trust. So, both the investor and the developer is there to blame in these situations and I believe it will stay that way for a long time.

[Furious 7]

That's sad to see these happen to the market especially if you consider most of these dramas made people not trust the market like fore and had a bad effect on the market but regardless of that, I see one common thing between all these cases, people lost money in every single drama and that's because of lack of knowledge, for example, people were holding money of ftx and they lost money there because they were trusting that platform and holding their money there also in all the cases the owner paid much less compared to the users they were using these platforms.

Actually rather than express disbelief I prefer to remain cautious on this matter.
We know that FTX is one of the surprising things this year and indeed we have to realize that something like this can definitely happen especially for Crypto so we really have to be more careful so we don't fall into abyss like this.
In Crypto there are lots of Scams and we realize that we cannot deny that because indeed what is said is also a lot of evidence but on the other hand we also have to look at the bright side because in Crypto I learned a lot and of course not trusting other people too much is the basic thing what to believe.