Will cryptoccurrency scams fade away with this new blockchain approach?

[haciandaklub]

Over time, cryptocurrency scams have become very popular and also the frequency of them has increased. Cryptocurrency scams are mainly successful mainly because there is no mechanism to check for fraud detection, and once the fraud has occurred, there is little recourse that can be made to recover the funds stolen.

The only way forward to avoid them would be to enforce strong regulation and have offchain identity system like Concordium enforces. This would discourage the malicious actor to be easily identified, since every wallet will be linked to a real world Identity without publicly revealing them.

Making sure to enable 2 factor Authentication and having strong passwords are also some of the common security practices to follow. But making sure we have inbuilt security features like I mentioned earlier would make crypto safe and secure for even the not so technical crowd.

[masterrex]

I agree mate that it is the right time to implement it because in the recent crypto industry turn of events like the Defi craze DEX popularity, etc. which is I believe that already caught the attention and interest of those scam artist and it might be planning already regarding how to do it. if that prevention and security that you mention will be implemented it will help a lot to minimized or avoid those incidents to happen.

[Vladok]

I hop that cheaters will always be, no matter what protection there is, because there are some vulnerabilities in any protection.

[Tnoy30]

I'm sure investors have been frustrated by the days of the ICO. Investors find it frustrating. Because I saw the scamming started right away. From the first stage they have seen the impression of despair and I have also seen many disappointments. So I think scam incidents in cryptocurrency are not easy. So there are no new cases, we don't know what kind of scam will happen next. Because most of the new projects are being successful. But scamming seems to be knocking on our door.

[Tanimariya]

At present, investors are getting less loss due to DeFI and DEX of the cryptocurrency market. Fraud is on the rise, but it could be seen earlier that they would have left the market after running the ICO. But cannot leave the current market. Because they have higher profit margins, they stay in the market in the hope of making more profit. So I think the previous icos used to be fake. But the current ICOs are good. So I think a lot of projects are succeeding right now.

[tervel]

YFI is just one aspect of the growing DeFi bubble. The crypto space exudes mixed feelings on the sector as a whole, which is a normal response to new innovation. The future will tell whether the niche eventually dies or becomes the next big technological advancement.

[sky20]

I hop that cheaters will always be, no matter what protection there is, because there are some vulnerabilities in any protection.

Yes mate i agree with you that cheaters will always appear this is not the fact. The fact is to be careful. We should always have to think that scammer around us and take stapes to protect them.

[Cryptoz]

All of crypto users must be careful and always update the information about the projects they want join. Scams are always everywhere, we cannot make it disappear because it seems like impossible. Scammers are smart people, they are always trying to see the chance to stole crypto coin/token holders. So, it is a warning for all crypto users!!

[Alcor]

Scams and hacking are unlikely to disappear completely from cryptocurrency. However, over time, the mechanisms to combat them will be improved. In addition, it is, after all, crimes and states can and must fight them. It is also possible that a mechanism will be invented in the cryptocurrency itself, which will significantly reduce the opportunities for abuse.

[Joyjoyce0]

Scams and frauds are inherently human attributes. No matter how sophisticate a system may be, those with malicious intentions will always find a way to carry out their semester objectives.

[Renampun]

Scammers will not disappear even if a new blockchain is discovered...
The scammer is a behavior so as long as there is still a chance for them to move, the scammer will not end.

[Noverteno]

Cryptocurrency is very convenient for fraudsters because there is a high degree of anonymity and confidentiality, the Internet connects all participants in the cryptocurrency market and fraudsters from all over the world, and it is very difficult for law enforcement agencies to quickly interact with each other in this rapidly developing area. Scammers are very attracted to the cryptocurrency market also due to the fact that people who do not yet have sufficient knowledge and experience invest large amounts of money here. Therefore, cybercrime is only increasing in scale and the police around the world are clearly lagging behind in the fight against hackers and fraudsters.

[Black ID]

It is true, with more and more good developments in crypto, it has made a lot of scammers take advantage. And this we should be aware of, by providing protection as you mentioned. In my opinion, this is very important and we must do it so that our assets are also safe.

[Quantum X]

Everything that had been said does make sense a lot. The problem is, everytime there is an upgrade for more security and and ways to fight these scammers they they can also find a way always to counterfeit to ride the new system. That means it is very hard to stop them.

[wawan96]

Scammers will always be there forever because many charlatans who really will be rampant everywhere especially cryptocurrency is a place for cheaters in exchange large are still vulnerable to hacker break-ins still occur everywhere these events still occur there is no perfect solution to overcome hackers because there are still many slit.