Why we need to stay vigilant

[Vaculin]

This is really what we are as scams and fraud continue to spread even though there is strict implementation of laws. They will just notice it once get some report after people have been scammed already. It is a usual event to happen in the community and the solution for this is an individual judgment if that investment is a scam or not as we don't wait for the SEC or any regulatory body to tell or warn us of the possible scam. As investors, we act first and conclude before putting money into a particular investment as this is our obligation.

[1714704041]

1714704041

[pakhitheboss]

We have seen harsh regulatory policies on crypto service providers and most of them have tried to comply which makes me feel issues like this that could affect the growth and reputation of the crypto industry should be taking seriously rather than just issuing warning.

More scams are happening around the globe using the US dollar or the local fiat currency. Pointing fingers only at cryptocurrency scams and asking for tough regulations won't stop scammers from scamming. The problem lies within those who are using cryptocurrencies for their benefit as most of them believe it is an easy path to becoming financially independent and it is an easy way to become rich in a short time.

Those who believe in such an ideology are the ones who do not have an idea or the knowledge as to how to prevent themselves from becoming a victim of a scam. They are the ones who fall into the trap of scammers because of their greed and the urge to get profits that are not realistic.

The growth and the reputation of the crypto industry are not dependent on such scams. If it was then we won't be discussing it after 15 years of the existence of Bitcoin as most scammers use its name to scam investors. It is an ongoing issue, as Bitcoin adoption goes up we will hear more such scams in the future. The only way to not fall for it is to educate oneself about safeguarding Bitcoin and other cryptocurrencies before investing in them.

[Nangiconference]

We have seen harsh regulatory policies on crypto service providers and most of them have tried to comply which makes me feel issues like this that could affect the growth and reputation of the crypto industry should be taking seriously rather than just issuing warning.

I might not actually get your pints straight but one thing I know that scammers will never rest and that's why anyone coming into the cryptocurrency industry should first be conscious of the risk involved and show safety should his paramount obligation and not that of any exchange or third party and I think that's the major reason why it's always advisable to use any thing related to decentralisation while dealing with cryptocurrency.

[AakZaki]

This is really what we are as scams and fraud continue to spread even though there is strict implementation of laws. They will just notice it once get some report after people have been scammed already. It is a usual event to happen in the community and the solution for this is an individual judgment if that investment is a scam or not as we don't wait for the SEC or any regulatory body to tell or warn us of the possible scam. As investors, we act first and conclude before putting money into a particular investment as this is our obligation.

Don't depend on other people's decisions which are not necessarily correct and of course the research you do yourself will allow us to learn how to assess whether a project is good or not.
Because if you wait for the SEC or other audit bodies, it will still be quite a long time. Usually there are several groups that do have a competent team that checks every new project and this will be a source of information for early adopters who want to enter. look for more references and information about the project you want to take part in. Don't be careless and always be alert to any irregularities in the project.

[Jegileman]

We have seen harsh regulatory policies on crypto service providers and most of them have tried to comply which makes me feel issues like this that could affect the growth and reputation of the crypto industry should be taking seriously rather than just issuing warning.

This is a commendable effort by them and with the large number of user base they have, the news will reach out to many people that needs to know this and be careful about it. The use of negative words or foul words on crypto has been their for long and is not a new thing to all crypto users again. Some of these are caused by the impersonators who are always on set to scam their victims, which can be seen in every space even outside the crypto world. Government taken a harsh stance towards it and exchanges complying is due to the fact that they don’t want its existence or exchanges not getting to operate again and not because some few users use it for illegal act.

[Sandra_hakeem]

Fraud as a form of illicit enrichment was, is and will be. There is no escaping it. I am not saying that fraud should not be fought. But, in addition to fighting it at the state level, people need to learn to rely on their own strength in this area. Before using any services, people should learn to analyze information about the services they want to use. Otherwise, such people will lose their money.

what are the biggest forms of fraudulent activities? Can anyone be compared to what the governs are perpetrating?.. they just wanna put an end to money laundering and other illicit activities, but they don't see anything wrong with their  so-called democracy?..lol
well, they'll always be activities like that going on -- I like the fact that you made it clear that an individual's wallet is solely in his aboard -- and that their carefulness would guarantee it safety.

Sandra 🧑‍🦰

[Vaculin]

This is really what we are as scams and fraud continue to spread even though there is strict implementation of laws. They will just notice it once get some report after people have been scammed already. It is a usual event to happen in the community and the solution for this is an individual judgment if that investment is a scam or not as we don't wait for the SEC or any regulatory body to tell or warn us of the possible scam. As investors, we act first and conclude before putting money into a particular investment as this is our obligation.

Don't depend on other people's decisions which are not necessarily correct and of course the research you do yourself will allow us to learn how to assess whether a project is good or not.
Because if you wait for the SEC or other audit bodies, it will still be quite a long time. Usually there are several groups that do have a competent team that checks every new project and this will be a source of information for early adopters who want to enter. look for more references and information about the project you want to take part in. Don't be careless and always be alert to any irregularities in the project.

It is very unfortunate that it takes too long before a project is prosecuted as a scam while many innocent people have already been scammed. That is why is very important we know how to assess whether a project is a scam or not. But the best thing to do is to stay away from new projects especially when it smells fishy. So many potential projects are still running well, so we don't have a reason to try new ones especially when there are doubts on its legitimacy.

[Jerrycrypto2024]

If I can guess what you are talking about, you meant that regulation can help in making scam not to be possible. This is not just true. No matter how regulated crypto exchanges are, there are still easy ways scammers are using to scam people. Even with fiat, scam is still existing no to talk of bitcoin and other cryptocurrencies. What is the best that you can offer yourself is to learn about how you can avoid scam and hack so that you will not become one of their victims.

I think u Totally agree with you on this saying, though regulattikn will limit certain action of scammers but crypto can't be scam free, everyone who join anything crypto must be vigilant and smart and avoid anything that leads to scam mostly area quick rich and unverifiable investment and buy of coin that is not sure of the value and having no good team,white paper, in fact anything shiltcoin and altcoin you know is not possible to succeed. Avoid display of personal details and some KYC in most of the exchange that work like mirages or shadow which act as scammer hub.

[ultrloa]

This is really what we are as scams and fraud continue to spread even though there is strict implementation of laws. They will just notice it once get some report after people have been scammed already. It is a usual event to happen in the community and the solution for this is an individual judgment if that investment is a scam or not as we don't wait for the SEC or any regulatory body to tell or warn us of the possible scam. As investors, we act first and conclude before putting money into a particular investment as this is our obligation.

Don't depend on other people's decisions which are not necessarily correct and of course the research you do yourself will allow us to learn how to assess whether a project is good or not.
Because if you wait for the SEC or other audit bodies, it will still be quite a long time. Usually there are several groups that do have a competent team that checks every new project and this will be a source of information for early adopters who want to enter. look for more references and information about the project you want to take part in. Don't be careless and always be alert to any irregularities in the project.

It is very unfortunate that it takes too long before a project is prosecuted as a scam while many innocent people have already been scammed. That is why is very important we know how to assess whether a project is a scam or not. But the best thing to do is to stay away from new projects especially when it smells fishy. So many potential projects are still running well, so we don't have a reason to try new ones especially when there are doubts on its legitimacy.

Because they planned it well so they can get a lot of money from people and they always pretend to be a good platform. That's why it take so long for people to notice that they are scam or people just didn't see it until the scam has been executed that's important to know that we should never trust anything regardless on how reputable they are.

There are so many good platform which turn out to be a scam so much better not to think about depositing a large amount on any of those or if we can't avoid this to happen then we  make sure to withdraw our funds so that we can avoid those any unwanted possibilities to lose our capital and we can make sure that we are safe from scams.

[Mpamaegbu]

~snipped~

I might not actually get your pints straight but one thing I know that scammers will never rest and that's why anyone coming into the cryptocurrency industry should first be conscious of the risk involved and show safety should his paramount obligation and not that of any exchange or third party and I think that's the major reason why it's always advisable to use any thing related to decentralisation while dealing with cryptocurrency.

Risk isn't of cryptocurrency alone. It's with everything man does, though the intensity differs. Remember, whether with decentralization or centraliszation, scam will still happen if one isn't careful or watchful when dealing with others. For me, the greater part of our security lies with us and not with an app. If only people who've their vital crypto wallets loaded with funds and information on their phones will become weary of links they click. It will help them. Those who are less experienced can be deceived into clicking on malware and the end result will be that they get hacked and may not know where what hit them came from.

[Rustam Meraj]

This is really what we are as scams and fraud continue to spread even though there is strict implementation of laws. They will just notice it once get some report after people have been scammed already. It is a usual event to happen in the community and the solution for this is an individual judgment if that investment is a scam or not as we don't wait for the SEC or any regulatory body to tell or warn us of the possible scam. As investors, we act first and conclude before putting money into a particular investment as this is our obligation.

I don't think people should only trust their own judgment when deciding if an investment is a scam. It's smart to be careful and do research before investing. It's also important to have groups like the SEC that can protect investors from scams. These groups have the knowledge and tools to find scams that regular people might miss. If people only trust themselves, they could fall for tricky scams that are hard to spot. It's good for investors to be careful but it's also important for groups like the SEC to watch over investments and make sure everyone is treated fairly.

[Dunamisx]

This is really what we are as scams and fraud continue to spread even though there is strict implementation of laws. They will just notice it once get some report after people have been scammed already. It is a usual event to happen in the community and the solution for this is an individual judgment if that investment is a scam or not as we don't wait for the SEC or any regulatory body to tell or warn us of the possible scam. As investors, we act first and conclude before putting money into a particular investment as this is our obligation.

I don't think people should only trust their own judgment when deciding if an investment is a scam. It's smart to be careful and do research before investing. It's also important to have groups like the SEC that can protect investors from scams. These groups have the knowledge and tools to find scams that regular people might miss. If people only trust themselves, they could fall for tricky scams that are hard to spot. It's good for investors to be careful but it's also important for groups like the SEC to watch over investments and make sure everyone is treated fairly.

You're right, we need to take efforts in making research and consultations about whatever we wanted to venture into, this will give us more expositions about them before we go deeper, many of the things we see only that  turned scam doesn't first appear that same way, we cant rely only on our own efforts in this, we need to depend on the public opinions as a collective contributions on what they have to say concerning them before we made our own conclusion also.

[SlowPP]

If I can guess what you are talking about, you meant that regulation can help in making scam not to be possible. This is not just true. No matter how regulated crypto exchanges are, there are still easy ways scammers are using to scam people. Even with fiat, scam is still existing no to talk of bitcoin and other cryptocurrencies. What is the best that you can offer yourself is to learn about how you can avoid scam and hack so that you will not become one of their victims.

 I agree with you motion and motives,no matter how vigilant someone's he/she most surely be victim one-day anybody who wants to adopt or invest in any cryptocurrency or Bitcoin must be vigilant there alot of ways scammers and fraudster do there things nowadays there alot of many ways for one another to fall victim despite being vigilant In what he do,we just need to take time and alot of dedication to go for more research before investing anything ,there are many platforms and websites full of scams.

[pinggoki]

Fraud as a form of illicit enrichment was, is and will be. There is no escaping it. I am not saying that fraud should not be fought. But, in addition to fighting it at the state level, people need to learn to rely on their own strength in this area. Before using any services, people should learn to analyze information about the services they want to use. Otherwise, such people will lose their money.

The problem with being vigilant is that you need to be knowledgeable in the field at the bare minimum and at the least know the most common fraud and schemes that are present out there and the problem arises from the fact that most people don't like to learn new things or they find safety talk and awareness presentations as boring so there's not a lot enthusiasm about this kind of stuff, average people only want entertainment and safety talks and information drives about this kind of things are not in that category, there are some outliers that will be interested but those few, only about 1 of them that have attended that information drive will remember the important stuff that's been talked about.

[Uhwuchukwu53]

Fraud as a form of illicit enrichment was, is and will be. There is no escaping it. I am not saying that fraud should not be fought. But, in addition to fighting it at the state level, people need to learn to rely on their own strength in this area. Before using any services, people should learn to analyze information about the services they want to use. Otherwise, such people will lose their money.

The problem with being vigilant is that you need to be knowledgeable in the field at the bare minimum and at the least know the most common fraud and schemes that are present out there and the problem arises from the fact that most people don't like to learn new things or they find safety talk and awareness presentations as boring so there's not a lot enthusiasm about this kind of stuff, average people only want entertainment and safety talks and information drives about this kind of things are not in that category, there are some outliers that will be interested but those few, only about 1 of them that have attended that information drive will remember the important stuff that's been talked about.

The truth lies as you have said most people don't desire to learn new things but in the case if fraud or scammers they are always discovery and bringing new tactics of defrauding people. One thing that is basic about this control that make it unrealistic all the time is that it starts from human heart and the mind construction can't be determined by face, many are destined to defrauding no matter the economy or government policy even at the victim level of know most can't escape because many fraudster or scammers engage in magical or diabolical means of operations, the control it policy of the government and individual knowledge only reduce some occurance but can't eliminate it totally, but advancing in knowledge just as the fraudster bring in new tactics help not falling quick prey.

[Hyphen(-)]

We have seen harsh regulatory policies on crypto service providers and most of them have tried to comply which makes me feel issues like this that could affect the growth and reputation of the crypto industry should be taking seriously rather than just issuing warning.

Almost all these type of fraudulent practices are associated to cryptocurrency because that’s the new place where newbies are always putting hop on to make some money or save their money without third party. Because of such scams, governments are not willing to accept Bitcoin and cryptocurrencies as legal tender because they will always wants to be safe with their citizens, even though they have their selfish interests for not accepting Bitcoin and crypto, they will be using these fraudulent practices as reason for not accepting Bitcoin.

[Bushdark]

I was scanning through some news update on coin telegraph and discovered Hong kong SFC have issued warning to some imposter website defrauding innocent newbies.  https://cointelegraph.com/news/hong-kong-sfc-warning-impersonator-crypto-exchange-mexc
The action is commendable but I feel more  is needed to be done than warning cos this may be the reason we have been seeing the use of  'Scam' key words associated to crypto exchanges trending on social media.

We have seen harsh regulatory policies on crypto service providers and most of them have tried to comply which makes me feel issues like this that could affect the growth and reputation of the crypto industry should be taking seriously rather than just issuing warning.

There are many exchanges that are real scammers and they easily lock customers accounts for no reason. Using such an exchange could make us lose our funds if we don't know what we are doing. This is why it is good for us to ask questions or do our own research about good exchanges and the ones that is supported in our region. It is not good for us to blindly start using exchange without a thorough research on how to make sure we don't because victim of locked account or hack.

[Zanab247]

Scammers are everywhere in the whole world, but you can easily identify them in the social media when ever they come to you in the internet because they always look forward to give you some things that will make you feel they are not scammers but if you go deeper in their past history you will know that they are scammers.

Newbies always fall victim easy for all those scammers, upon all the expose they used to exposed scammers in this forum and they will go to social media and lose their coins to strangers because, that is the best place scammers use to catch the newbies with fake transaction that is not real but just to make them believe in their system.

[Zoomic]

Scammers are everywhere in the whole world, but you can easily identify them in the social media when ever they come to you in the internet because they always look forward to give you some things that will make you feel they are not scammers but if you go deeper in their past history you will know that they are scammers.

Newbies always fall victim easy for all those scammers, upon all the expose they used to exposed scammers in this forum and they will go to social media and lose their coins to strangers because, that is the best place scammers use to catch the newbies with fake transaction that is not real but just to make them believe in their system.

These are the reasons we (not just newbies because no one is safe) need to be extremely vigilant because these scammers are not relenting any time soon. With the way the security of our funds are at stake, it is safer to work with reliable and reputable exchanges and crypto service providers we already know. These scammers will always come up with juicy offers and that will tempt us to dump whatever we already believe in and go for there's. Stick to what you already know if you are not convinced of any mouth watering offer made to you by strangers.

The security agencies are trying their best to uncover these scammers and their modes of operation. It is now left for us to be up to date with the recent happenings around us so we do not fall victim out of ignorance. Never ignore security tips and information relating to crypto. The problem with most of us is that we do not pay attention to little details which can save us from disaster.

[bayu7adi]

But the steps taken by investors or spenders who want to make a profit must also be wise. Relying on the government to handle every crime certainly cannot be completely trusted, because each person's money is safer with their own responsibility. Many investors are less careful about spending their money on people they don't fully trust. It's true, there are several projects with an anonymous concept and making a lot of money for investors. But it is quite dangerous if it becomes more popular.

Even some of the top coins currently have clarity regarding the ins and outs of their developers, so one of the reasons why someone can be deceived is relying too much on the government to eradicate crime, even though they themselves are not careful in spending their money on investment.