Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: haciandaklub on September 28, 2020, 07:35:14 AM
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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.
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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.
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I hop that cheaters will always be, no matter what protection there is, because there are some vulnerabilities in any protection.
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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.
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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.
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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.
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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.
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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!!
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Most likely, there will always be fraud in the crypt, because cheaters always improve their methods of deception, and people will still be guided by their tricks.
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Frankly the rate of scams among crypto startups is very alarming and needs to be checked urgently. I cant say I'm fully in support of government regulations on cryptocurrency but the rate at which crypto startups are deliberately coming out to scam the community is not so cool and needs to be checked urgently.
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Scams who try their luck in the cryptocurrency world will always be there and indeed have to be careful with existing projects, don't choose the wrong choice because it will make you lose.
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People who are criminal minded will always want to cheat others and cryptocurrency is no different but there is need for continuous improvement in blockchain which will boost the confidence of investors
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Until now, fraud from cryptocurrency has always existed.
See the results of the Bounty for KYC which can be taken for personal gain.
Exchange that can simply close without refunding the users.
Airdrop scams to take KYC etc.
So whenever there will always be fraud in the digital world, it's just that we can minimize it by being careful.
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Cryptocurrency scams will almost always exist, since the Internet and anonymity provide fraudsters with a comfortable environment for their activities. Decentralization in cryptocurrency is not able to effectively combat hacking and fraud. The situation can be saved only by the state organizational regulation of this type of activity. This primarily applies to ICO projects and their teams. If the ICO team is registered and verified by the relevant government agencies, the level of fraud will drop dramatically.
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Cryptoccurrrrency scamming won't go away ass long as human still exist. People with rogue can mind will want to cheat the system and rob investors of their money and asset
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There is only one way to overcome frauds and scammers in the crypto currency space, and this can be achieved when you and I decide to always do our own research before investing in any token whatsoever.
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The answer is NEVER.
Why?
Because where there is good thing, there will be always bad thing. This is like two sides of the coin, cannot be separated. We can stop the scams because we cannot rule everyone, we cannot know who they are. And we also cannot know what is behind the scam. Scammers will always exist with their new and new ways of scamming, phishing, and also other deceiving ways to get money from their victims.
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I think it is difficult for cryptocurrency to be free from fraud because cryptocurrency is indeed a Peer to Peer financial system, aka there is no intermediary or escrow.
If the bank has an intermediary between the saver and the borrower, the cryptocurrency does not and this is a difficult obstacle to free the cryptocurrency from fraud.
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Getting rid of crypto scams is not easy as long as there is crypto the number of scammers will increase the higher the crypto market the more scammers will dominate blockchain technology will improve crypto, even if it doesn't fade with the new blockchain system. Transaction arrangements will be simpler and will make it easier to store data it will not be easy for hackers to hack.
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Nah, I think scams will always exist no matter what precautions there might be. It's just in the human nature to want things, but not wanting to work for them :-\
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We cannot secure a decentralized crypto market. If we as a crypto community create regulations that govern how a crypto platform works, it is deviating from the crypto idealists, which are decentralized. No matter how secure we make a security system, there must be a way for hackers to break into the system, because nothing is safe on the internet.
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Commonly, crypto scams will have another whitepaper copy this and share it with the public. Now, most people may also think about it. Scam will be always scam and whatever they do is that we are too worthy to lose it to you. Just keep going to another project except the one in the chainlink
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I believe that fraud can never be eradicated, because fraudsters will always try to make a profit where there is a sufficiently large turnover of funds. In addition, the only thing that can fix this problem is effective resistance, creating not only a system for detection and punishment, but also a security system for the entire cryptocurrency market.
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Among the events, DeFi is currently the most talked about. This involves dex. I think these can improve. But the blockchain will never be able to overtake. The most popular of the blockchain technologies is the greatest. The quality and standard of blockchain technology is much higher. So I think dex will play a role with DeFi to take blockchain technology further.
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The current situation is a bit better for the cryptocurrency market. Bounty condition was particularly bad. The Bounty campaign would not have been successful then. Bounty hunters have suffered the most. Even after running a scandalous project campaign for so long, some managers still think about the ups and downs. I think they should fall. Today, most people in the profession believe in blockchain. Blockchain technology is known as the best technology.
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Everyone might be feel glad because of new upgrade or new product to keep the account secure from scams or hackers but know also that this solution does not stop scammers because everytime there's new upgraded or new projects they always come up with another way to continue their wrong doing.
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While I agree with those who say scammers will always exist, I think more could and should be done to prevent them. On-chain regulations might help but I don't think there will be much improvement until there is proper legal regulation and oversight over new crypto projects.
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Human being has a good reputation for adopting in any situation. Scammers also becoming creative and they always find a new way to scam people. So no matter how hard the security will be some people will scam other people and some people will be scammed very easily. we need to be more responsible first.
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I'm really not sure about this. because as we know that the blockchain is a technology and we can really know how to create our business wee. But in my point of view os about the other people whoa re scamming, they will probably take the decision to tell about his mistakes. but not for here right now
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Scammers will always here and also involved in the projects because scamming people, may be what only they get. Additionally, it is also about the trust of the proejct. once they follow and also ignore about the someone you lpve. I will be think if I really bet you in thiscase
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As long as cryptography will exist, fraudsters will continue to exist. Everything is similar to conventional assets. Whatever the methods of protection, there are craftsmen on them. And it is almost impossible to identify each wallet.
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Yes i think 2FA and other security measures have resulted in less cases of theft and hacks as far as exchange platforms are concerned so i guess this 2FA or something similar should be implemented on all other wallets and services where the coins are stored so that only real owner can access the wallet.
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Scammers will definitely stay and improve their skills depending on the protection against them) The Blockchain will not be able to protect against them completely. This is obvious
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No matter how many platforms come along, blockchain technology will remain. Blockchain technology and prestige far outweigh other platforms. All the cryptocurrencies that are members of the blockchain have improved a lot. So I think block SIM technology scam project may come. But we can't be excited. I think in the future some good methods will be introduced, which will not be able to scamming.
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Definitely any cryptocurrency project that's not genuinely developed we surely fade out of the crypto market especially those cryptocurrency built under the intention of scaming people or self rich people just to enrich themselves for me some of them do come up with funny story before you know it the project is gone.
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Unfortunately, the cryptocurrency sphere is very popular with scammers and there is nothing you can do about it, so you should always carefully study each cryptocurrency company in which you want to invest because scammers are constantly evolving and it is more and more difficult to understand which cryptocurrency company is a scam, so always be careful.
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I think how fraud has been and will be. And this is inevitable. The blockchain comes up with something new and scammers are also on the alert and also come up with something new. Therefore, everything is very complicated here.
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~snip~
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.
I just heard about this project, maybe many projects that are almost similar, but I am interested in reading a little of the team statement on the official website of Concordium.
https://concordium.com/
Concordium methodology
Concordium follows a proven methodology to ensure that our protocols are scientifically based and there are no bugs in the software.
Only one question I have, is the software really bug free?
Because exchanges as large as Binance often lose Bitcoin to hackers.
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Actually, the scammer is smarter than normal people. If people don't be more careful about their activity and can not control their greed then those types of scam activity will not be fade away. In most cases, people get scammed because of their greed. They got traped in scammers after they got high rewards to offer from scammers.
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Actually, scammer getting benefits of the not legal framework for cryptocurrency in some countries, and people join the crypto world every day; there should be instruction publicly to make their wallet secure like 2FA and strong password.
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Sadly enough but as we are used to seeing as days goes by, scamming is a big lucrative business, especially in the cryptospace where there's completely a zero mechanism that checks for the prosecution of any scam related practice. + Day in day out, newbies are coming into the cryptospace looking for better investment opportunities and naively they will eventually fall victim and the cycle contenues like that.
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Hackers may take private keys and 2FA codes by sharing the link with you, but the link is a walware that can retrieve information from any data you store on your computer or mobile device.
Being more careful about storing large amounts of crypto assets is a good thing to avoid scams and hackers who will harm us all
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As per the question you asked in the topic subject , i dont think crypto currency scams will fade away no matter the approach blockchain takes, Remember that this scammer improvise and adapt, so no matter the approach, scammers will always be here but wat i did say is that the rate will reduce if the approach is good.
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The scammers will never disappeared, they will still on the internet trying to hook their victim. We should careful to invest the project, just do your own research before to put your money on them. Be wise, be smart this is the only way to prevent you to victim of scam. Ignore those who offering you to make money easily, just like what I receiving right now about the -- this is spam contact admin to stop spammer -- Geez.. and they were newbies lol..
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Unfortunately, fraud is where there is a lot of money, cryptocurrency is just what hackers need, I would not be against identification if it would help at least a little in catching scammers, but you still need to be as careful as possible and follow the security rules.
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In fact, scaming will always be there. In any case they will never be destroyed. However, we can resist these scaming in various ways. We will always take good steps to protect any of my projects from fraud. We will always make sure that scaming do not attack in the new blockchain.
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Scammer will not fade away, they will do anything to earn by fraud, they're target is always newbie who doesn't know anything about the risk. Always DYOR, don't invest on something you don't know.
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Yes, I think the scandal will fade through the new said transaction. Cryptocurrencies around the world will create better positions. In other words, in order to create new projects, some old blockchain technology will be destroyed. However, it will not work if it is lost in the market. Older projects will lose popularity, newer ones will gain popularity.
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Scams here will always exist, no matter what the rules are. Those Scammers will continue to find ways to deceive the people who are here. We just have to be careful and protect our assets properly, not easily influenced by other people's persuasion so that our money is safe.
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Many people have been familiar with the cryptocurrency market for a long time. There are different types of people in the market. Not everyone can benefit. Sometimes there can be a lot of scam project. This is just normal in the market. There are many good projects in the market. There are many changes in blockchain technology. These are always noticeable.
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Fraud is not going anywhere from us. It will haunt us wherever possible because such is human nature. Where large capitals appear, there appear those who wish to appropriate them for themselves or to snatch at least some part. Unclean people have always been and will be.
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Cryptocurrency is very well suited for scammers. This is anonymity, being in any state using the Internet, a new direction in the financial sphere, which is still weakly controlled and protected by states. In order to lower the level of fraud, it is necessary for the states to legalize the cryptocurrency and the relevant state bodies to register and verify the ICO teams. Whatever new approach to ICO is invented, we cannot defeat fraud in ICO projects without state organizational regulation.
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There is simply no way blockchain fraud is going to end and there is no way we can rule out fraud. It can only be reduced by employing stringent procedures and verification for all intending blockchain projects. A form of regulation has to be introduced into the space to help check this. Only then can fraud be reduced or eradicated.
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Actually, the scammer is smarter than normal people. If people don't be more careful about their activity and can not control their greed then those types of scam activity will not be fade away. In most cases, people get scammed because of their greed. They got traped in scammers after they got high rewards to offer from scammers.
I would add that scammers in any industry develop faster than other people. They come up with new ways to cheat. If fewer people fall for the deception, they come up with another scheme. So there will always be scammers, the main thing is to always be careful.
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Blockchain technology has spread to marketplaces all over the world. A lot of things like that happen. I can say that the incident of scamming is normal. These will continue all over the world. Various plans are implemented around blockchain technology. I think a healthy solution is needed.
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Scams in crypto will continue to increase, because crypto is very young and there is no strict regulation to evaluate and control frauds.
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Scams in crypto will continue to increase, because crypto is very young and there is no strict regulation to evaluate and control frauds.
Agree with you, the Scammers will not disappear but there will be more and more. because the higher the popularity of Crypto, the greater the opportunity, Scammers certainly understand these conditions. We have to be more careful to avoid these scammers.
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Cryptocurrency scam are in many forms and dimension so it may be impossible to fade away just like if nothing is done to monitor every cryptocurrency project that's been developed on daily bases, talking about cryptocurrency scam project can it be fade away have you seen many crypto platform that promoting some crypto airdrops, which I participated in some of the project there end of the day nothing come out of the cryptocurrency project.
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I am quite sure that fraud will not disappear over time in this world of cryptocurrency, and indeed in our life, whatever we do. Fraudsters improve their craft along with the development of technology and technology. They have a good incentive, because very large amounts of money are accumulating in the cryptocurrency market. Therefore, fraud was, is and will be. Only the level of its distribution will change.
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Fraud will not completely disappear, but if the cryptocurrency is legally regulated, scam will definitely decrease. But it will not be possible to fully regulate it by law, because there are various DEX.
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Fraud will not completely disappear, but if the cryptocurrency is legally regulated, scam will definitely decrease. But it will not be possible to fully regulate it by law, because there are various DEX.
I believed the purpose of establishing this type of forum and bitcointalk is to seek for more information on the genuinity of a particular cryptocurrency we want to invest on, the forum had helped a lot of investors to avoid investing on scam profits infact some those coins had been red flagged to prevent would-be investors to avoid them, however even with any latest blockchain technology scammers will always upgrade their skills to scam investors,
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As long as money exists, there will be people who want not to earn it, but to take it away. And no blockchain can prevent this.
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Most of us as bounty hunters or Investors are disappointed by the scams. Even we used to of it. Yes, there must be some system to avoid the scams so that one can not gather guts to scam easily investors and apart from this there should be some criteria need to follow to ensure security so that hackers also not easily access the data.
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Scams in Cryptocurrency will always be there, but maybe scammers will be more careful to make their plans work. Every time there is money collected, the fraudsters will keep looking for ways how they can get it by stealing or whatever
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Cryptocurrency is still an ideal place for scammers. Here you do not need to name your identity, the cryptocurrency has a high degree of anonymity and confidentiality, most states have not yet decided whether to legalize it and under what conditions, which means that law enforcement agencies are forced to remain inactive for now. In addition, it is very difficult even to establish the place of the crime, since the fraudster can be located in any country and anywhere in the world where there is an Internet connection.
Fraud in this area will decrease if states legalize cryptocurrency, but it will always attract fraudsters under any circumstances.
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I think Concordium's approach of linking the wallets offline to an individual is quite commendable however there is a catch. Criminals can tag an innocent person, just like stealing an identity in credit card scams. I think they should get better alternatives
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I don’t think it will help solve this problem globally. It all comes down to the human factor, a stereotype has developed around cryptocurrency that this is easy money. This is what scammers rely on, human stupidity and greed. And this cannot be limited or regulated in any way.
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Regulation of the cryptocurrency market by states can partially help solve the problem of fraud in this industry, but there will always be fraud in this market. Cryptocurrency is a very tasty morsel for all sorts of scammers, since here a high degree of anonymity is combined with the great possibilities of the Internet. You can be anywhere in the world and constantly migrate, which will be a significant obstacle for law enforcement.
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One can expect it can be reduced but scammers will always find a way to scam the people. Whatever the tools we will use but we all know there are always some loopholes and scammers will take benefit of that to scam again. Definitely, regulation attracts more adopters and investors in the crypto market, and To avoid getting hacked avoid downloading from unknown links and should also avoid clicking random links unless you know it's safe to click.
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No one will do this, because the main advantage of the blockchain is anonymity, and identity verification will not bring much results, because attackers will find ways to forge documents and so on.It is better to make a mechanism for tracking transactions during hacking.
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Scams and hacking are unlikely to disappear completely from cryptocurrency. However, over time, the mechanisms to combat them will be improved.
Agree. Scammers and hackers will always exist in crypto space, there is no way to remove them. They even will multiply during the growth in crypto industry, they know more potential victims in crypto. What we can do is to have a better way to avoid them, learn how the scammers usually do their actions. If we always do analysis, we can avoid the scammers' traps, there should be signs of unusual things made by them.
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Scams and hacking are unlikely to disappear completely from cryptocurrency. However, over time, the mechanisms to combat them will be improved.
Agree. Scammers and hackers will always exist in crypto space, there is no way to remove them. They even will multiply during the growth in crypto industry, they know more potential victims in crypto. What we can do is to have a better way to avoid them, learn how the scammers usually do their actions. If we always do analysis, we can avoid the scammers' traps, there should be signs of unusual things made by them.
Its not easy to detect scammers and hackers.
They are smart people with bad attitude.
That always in every where. We shoul be careful to invest and do transaction in crypto.
agree with you, we should have good analysis.
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Scams and hacking are unlikely to disappear completely from cryptocurrency. However, over time, the mechanisms to combat them will be improved.
Agree. Scammers and hackers will always exist in crypto space, there is no way to remove them. They even will multiply during the growth in crypto industry, they know more potential victims in crypto. What we can do is to have a better way to avoid them, learn how the scammers usually do their actions. If we always do analysis, we can avoid the scammers' traps, there should be signs of unusual things made by them.
Its not easy to detect scammers and hackers.
They are smart people with bad attitude.
That always in every where. We shoul be careful to invest and do transaction in crypto.
agree with you, we should have good analysis.
You're right hacker and scammers that steal our asset is smart people with bad attitude.
But don't forget about white hackers.
I think we should be careful to invest, because there are many scammers there.
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I always believe in crypto currency and started to invest on it since 2018.
I think we should have good research before invest, to reduce hacker or scammers, b
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Cryptocurrency is very attractive to scammers and there are many reasons for this. First of all, large sums of money and many inexperienced users of cryptocurrencies are concentrated here. Also, the relative anonymity of each participant in this market and the lack of proper regulation by state bodies play an important role. Fraudsters in this market have very little risk, working on the Internet provides an opportunity to perform their illegal actions from anywhere on our planet where the Internet is available. Therefore, it is very difficult to fight scammers here, and they use this.
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Cryptocurrency is very attractive to scammers and there are many reasons for this. First of all, large sums of money and many inexperienced users of cryptocurrencies are concentrated here. Also, the relative anonymity of each participant in this market and the lack of proper regulation by state bodies play an important role. Fraudsters in this market have very little risk, working on the Internet provides an opportunity to perform their illegal actions from anywhere on our planet where the Internet is available. Therefore, it is very difficult to fight scammers here, and they use this.
Scammers are always be there.
Because crypto is potential assets, we should be careful before invest in crypto currency.
learning do do research before it.
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Talking about scammer, I think It's not only in crypto world.
It will be every where.
We should have own analysis and research before invest in crypto, especially new projects.
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In the crypto world lately, its almost impossible not to fall victim of all the various scams out there and its really thoughtful that initiatives about scam companies like this are set up to rescue people from these crooks. In addition, I would also recommend a licensed fraud analyst who had helped me out in recovering my funds sometimes last year, Dr Suzanne (Saren55 on telegram), she was able to make use of adequate proofs that i provided to enforce this recovery and I was able to get back my loss. Anyways, it was not an easy task but most importantly she got the job done.
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I completely agree with your perspective. Scammers and fraudsters seem to find opportunities in various domains, including the cryptocurrency space, due to the relatively nascent nature of the industry and the vastness of the digital realm. The risk of hacks and security breaches remains a significant concern, and unfortunately, there is no foolproof solution to eradicate these issues entirely. :( (https://bitcoinyorum.com/2023/10/19/pepe-coin-yorum-meme-token-pepe-analiz-ve-fiyat-tahmini-2023-2024-2028-altcoin-analiz-bitcoin-yorum/)
However, it's crucial for the crypto community, as well as the technology and financial sectors, to continue developing and implementing robust security measures, educating users, and promoting responsible practices. By doing so, we can work towards minimizing the risks and vulnerabilities associated with cryptocurrencies and the digital space as a whole. While we may never eliminate scams entirely, we can certainly take steps to reduce their impact and protect users to the best of our abilities.
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Those bastards will always find a way for scum