Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: troll on June 08, 2018, 06:56:06 PM
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
The answer to number one questions. When one is defrauded in a fiat account, you seek the bank assistance but if that fail to materialize, you consider it lost forever and move on with your live.
Number two,
Cryptocurrency payments are untraceable and anonymous, and if one is defrauded of entire cryptos, you unfortunately become empty forver but you can carry-on your life and start all over again.
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With your first question, i think the bank can help trace the person who emptied it but if your crypto wallet is emptied by a fraudster, i think that will be the end of your hard earned money since your wallet is owned and managed by only you
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With the issue of your bank account been hacked by a fraudsters. I believe the bank has a way to retrieve it for you. And even if they are able to do so they will surely pay you
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If the fiat account is stolen you can report to the bank and the police. if your crypto can only lock the account crypto.
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For number one there is a chance to recover but in number two is a kind of entering into the needle's eye because everyone is anonymous.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Hello, i think you have your answers.
I'm agree with many person here.
For the bank, you can contact assistance.
For the crypto, you can do absolutely nothing because it's anonymous...
Crypto is more safe if you take precaution. 8)
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if you get hacked your bank account the bank should assume the fraud because it is up to them to ensure the security of your funds.
If on the other hand you are hacked your crypto wallet there will be no way to recover the funds, it is the very principle of the blockchain ( set apart at ethereum ahah)
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If you have stolen money not through your fault, which were on the bank account, then the responsibility for this lies with the bank. You can apply to the bank so that he can reimburse you for losses and, in case of refusal to apply to the court. You will win this claim if you correctly document everything.
If something happens to your crypto currency in your wallet, the whole risk of losing money lies solely with you. In this case, you yourself are a bank.
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If someone stole your money on your bank account, probably the bank should do action to know where your money is or why your money loss, and help you the best way they can do. But when your crypto wallet loss. All you need to do is to make a new one . Because our crypto wallet is on our hands. We should be more careful and protect it the best way we can do. because it's too hard to put your account back when it loss.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
The answers to these questions are not good for cryptocurrency.
If our bank account is hacked, then in the absence of our fault, the bank administration must compensate us for material damage.
If our cryptocurrency wallet is hacked, the entire risk of losing money lies only with ourselves. In the future, we will be able to contact the police on the fact of theft, but the success of the investigation of this category of crimes has always been very low.
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Maybe you do not know, there are many ways to help you top up VTC Pay e-wallet with BIDV bank account. However, each reload method has its own advantages and disadvantages, and is especially different in transaction costs.
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Although with e-wallets and digital banking, users can track and manipulate on mobile applications, but with digital banking, users can use all the features of an authentic bank. not just transactions and payments like e-wallets.
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In either case, you cannot get your funds back in case you get defrauded. Unless we consider your ability to find someone to blame on the bank. Cryptocurrency stole your money at a much lower rate than banks. Unless you do it with your own hands.
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If our bank account is hacked, then in the absence of our fault, the bank administration must compensate us for material damage.
If our cryptocurrency wallet is hacked, the entire risk of losing money lies only with ourselves. In the future, we will be able to contact the police on the fact of theft, but the success of the investigation of this category of crimes has always been very low.
True, there are always positives and negatives to bank accounts and wallets. The answer above is only one that banks and wallets must always support each others
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If the Fiat bank account is emptied by a fraudster, it will be under the full control of the bank officer and will be supervised by the police. The central government will try to get it out of control but in the case of crypto it is not possible. It is not under anyone's control, the owner himself. In that case, if lost, the chances of getting back are much lower.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
You can report this to the bank and notify the bank that you are being cheated, bank members can freeze the bank account but there are several requirements that must be passed, because the bank also has complicated regulations, they will not provide information on the amount of money from the account a crook before you make a police report.
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
If the crypto wallet I have is an exchange wallet, then I will immediately contact Customer service, but if my funds are lost in my personal crypto wallet, then I will be silent because it is my fault, because it is very difficult to trace the address of a crypto wallet that does not have complete data such as banking
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1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
If the Fiat Bank account is emptied by a fraudster, of course, we can report it to the bank.
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
However, if the crypto wallet is emptied by scammers, we can contact support. Of course, the support team also cannot return our money, because the developer does not save the private key. And it is also difficult to ascertain the platform source of the wallet.
Therefore, every wallet platform developed by a particular team always gets a message to keep the private key safe.
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1. Report it to the bank manager that you lost all your funds because of the fraudster they will take an action and there is possibility to recover your money.
2. That is impossible to recover, there is no person has the power to recover your cryptos and you can not trace them although you can trace the address but you can not trace where they withdraw or to convert Fiat.
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Bank accounts and crypto wallets are similar in nature to storing money and you can access to know your balance on many different devices and the risk only happens when you forget your password. password or lose your phone
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Bank accounts and crypto wallets are secured to varying degrees. The level of security depends on the type of wallet you use (desktop, mobile, online, paper, hardware) and service provider.
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maybe this is one of the weaknesses of a cryptocurrency wallet, namely if all our assets are taken by a fraudster then what we do is surrender, when this happens in your bank account you can report it to the bank.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Fiat bank obviously was being categorized at centralized or regulated business in which means if you have a problem issues under their jurisdiction you can inform them about it then if they ignore your concern admit or accept to yourself that you lose your money, while in cryptocurrency once it's gone, that means it cannot be returned due to each transaction are always anonymous dude.
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For number 1. This is impossible if the fault comes from you, ofcourse banks will investigate on this case, whether you are being hacked on the inside cause if its your doing why you got hacked bank have no liability on that.
Same goes for number 2, 100% that if someone emptied your wallet, you will not get any refund especially the crypto is for decentralized approach.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Both stages, recovery impossible.but banking system recovery pretty possible but in cryptocurrencies wallet hacking, recovery impossible.
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I think Tracing your Fiat Bank account is easier than your cryptocurrency wallet. The initiations of transaction ID for tour fiat can lead to really persons account unlike cryptocurrency where the txID can lead to anonymous
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A hacked fiat bank account can be traced by the bank itself hence your fund has 70% chance of being returned but with crypto wallet, if you're careless enough to leave your fund vulnerable then it's lost forever and no choice but to start all over again.
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There is not yet a clear way to catch a fraudster or hacker who stolen the coins out of your crypto wallet. Although some big exchanges and projects have tracked down and took some of their coins back but for common people it is not possible yet. For banks there are obviously ways to track the person or the bank will pay you.
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With a bank account, the victim can appeal and wait for the adjudication of the court & the bank. Police can easily find transaction information from your account and find the identity of the thief.
With crypto wallets: no one will help you unless the value of the scam is huge. If a thief doesn't proceed to use or convert your crypto to fiat, it will be very difficult to find him. An IP address probably won't help much in this case.
Even in the recent 1400 BTC theft, the only solution is that Binance will blacklist the thief's account, and the police still can't do anything more.
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If the actual bank account is full of a lot of security, then I have a much better bank account. In this way people can deposit anything with a lot of faith. You will not face any person in a bank account if the bank is very good and strong. Wallet on the other hand it is done with your low security. It can lose anything right now at any time. You have no security. So from my wallet to bank account is much better.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Basically bank account wallets is more secure than cryptocurrency wallet because if any hackers hacked my bank account, but I can easily get actions against them but cryptocurrency wallet hacked, we can't do nothing against hackers.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Basically bank account wallets is more secure than cryptocurrency wallet because if any hackers hacked my bank account, but I can easily get actions against them but cryptocurrency wallet hacked, we can't do nothing against hackers.
In any case, there are positive and negative sides of a bank account and a virtual wallet. If fraudsters steal your money from a bank account, the bank is obliged to compensate for the loss. If your electronic wallet with cryptocurrency is hacked, then these will only be your problems.
On the other hand, many want to get away from the constant supervision of our accounts by banks and governments and have a cryptocurrency that no one can trace. Here the choice is ours.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
two different things that will happen but will be the same solution, only maybe a different way of handling.
1. If in my country the theft of the bank will be borne by the state if indeed it is due to corruption or bankruptcy, but if there is no compensation for his own fault.
2. If your wallet is tampered with, you will not get anything, aka it just disappears, but if the exchanger experiences there may be a replacement.
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For question number 1, we can contact the bank and the police and provide the right reasons and how the best solution is to handle the situation.
For question number 2, we can't do anything about it, because cryptocurrency cannot be interfered with by any party, so when you lose your digital assets you should just let it go. Don't contact police, because they won't help you.
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If your bank account was hacked or have been encountered with an authorized withdrawal, You should seek assistance with the Bank, and the Bank officers will investigate the incident if it's your fault or it is the Bank lapses, and If the Bank finds out that it's your own lapses, I guess you were not been compensated. The same as the cryptocurrency wallet if your account was hacked because of your own negligence it's all your fault and the wallet provider is not obliged to return your money because it's your fault.
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If your money gone from your bank account due to bank faults then you will have the right to defend yourself and get your money back from the bank. But in crypto there is no way you can do that. But crypto is safer than a bank as long as you are very careful and you are the only person who holds your privet key.
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If indeed we lose money or crypto assets because of fraudsters, then they will never come back again. Unless we might use the police to trace who the fraud is in a fiat bank. But in crypto we can't do that.
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If indeed we lose money or crypto assets because of fraudsters, then they will never come back again. Unless we might use the police to trace who the fraud is in a fiat bank. But in crypto we can't do that.
Yes, there are always weaknesses and strengths in every system but I believe that banks cannot be closed because they are still needed, the best thing is the synergy between the two.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Basically bank account wallets is more secure than cryptocurrency wallet because if any hackers hacked my bank account, but I can easily get actions against them but cryptocurrency wallet hacked, we can't do nothing against hackers.
Bank systems have been around for many years, so security providers have become more specialized and sophisticated.Also, financial institutions have large budgets which they can invest in their infrastructure security. In reality, blockchain technology is still in its infancy.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Basically bank account wallets is more secure than cryptocurrency wallet because if any hackers hacked my bank account, but I can easily get actions against them but cryptocurrency wallet hacked, we can't do nothing against hackers.
Bank systems have been around for many years, so security providers have become more specialized and sophisticated.Also, financial institutions have large budgets which they can invest in their infrastructure security. In reality, blockchain technology is still in its infancy.
The bank's security system should always be up to date and the most sophisticated because if you still use an outdated security system, hackers will have time to learn about the systems used by banks and moreover it will weaken the bank's security system. implementing blockchain technology can indeed be the right choice.
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When you think about it, if your bank account is tampered with by a fraudster there is always a way out to track your funds and recover it. There are ways the bank can track the transaction and the details of the fraudster will be revealed and there is a high probability of recovery your funds but I can't say same about losing your funds to fraudsters in your crypto wallet. Blockchain is fully decentralized it almost impossible to recover funds lost to fraudsters.
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A country's economic systems are maintained by central banks and banking services and systems which is very much important and effective in whole economic balanced. It a government support but cryptocurrencies are the opposite system of banking, it has no centralized tendency, banks always hate cryptocurrencies due to low amount of transactions system. But now or letter cryptocurrencies replace banking systems.
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Bank account is secure and security provide by the bank if the account is lost then you can regain it by applying to the bank but your wallet's security is your hand. If you make a mistake then your wallet will be finished. So i think wallet is risky then bank account.
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of course cryptocurrency can be said to be a threat to bank accounts because so far cryptocurrency wallets have been widely used and many people prefer to store their assets in electric wallets without using a bank account.
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Bank and cryptocurrencies are two opposite side in world cryptocurrencies market and global economic systems. Banking system always hate bitcoin in developing and poor countries. Poor and developing countries government and central bank hate bitcoin as their transactions systems hampers ..but bitcoin friendly countries government organization already permit bitcoin as their transactions systems.
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If you lose money in the bank, the bank will of course help because it is their responsibility to safeguard customers' money. But if our money is lost or stolen in a crypto wallet? it's self-responsibility.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Question number one when our money is in our bank account and our money runs out of fraud. The first thing is to report to the bank so we can track down who has taken our money. If we had made a report to the police station. I think our money will also be hard to come back to, as long as these fraudsters don't get caught.
The second question of saving money in the form of Crypto assets does have a very big risk. And if our money or our crypto assets are lost, it's hard for our money to come back again and may never come back. All Crypto users are anonymous and we can't do much. My advice is to be careful with your assets and keep your keywords well and create them with words that are hard to memorize.
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A wallet is made to store cryptocurrencies and operate with them, that is, in a wallet we can operate with Bitcoin, Ethereum, Dash and as many cryptocurrencies.On the other hand, bank accounts only allow storing and operating fiat money, that is: euros, dollars, pesos, etc.
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I think if it is lost then there's nothing you can do about it. Better to be very careful in your money because when it's gone from your account your chance of retrieving it is too low and the pressure is hard to handle.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
If my money in my back account get stolen by fraudsters, I can quickly ask for the banks assistance and recover it, since the banks are operating on a centralized system,there's a possibility that I might get it back, cis the money can be traced, but if it's in crypto, well I will just say goodbye to it, cus it's a decentralized system, there's no body I can report to, to get my crypto back, it's gone and gone forever. But still crypto wallets over bank accounts ;).
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These are two different systems and you can find a fraudster everywhere. This alone may require a lot of effort. The Bank and the police are looking for Fiat money, and only you will be looking for cryptocurrency.
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I prefer for bank with all my money rather than converting to crypto and store it on wallets. bank is very safe and most reliable of all storage.
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When a fund is lost in a bank account it can still be trace to the account its been transfer to, as to the bank account that the money is been transfer to can be seen, but the information as to the wallet can be gotten, which can be gotten when its from a bank account.
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When a fund is lost in a bank account it can still be trace to the account its been transfer to, as to the bank account that the money is been transfer to can be seen, but the information as to the wallet can be gotten, which can be gotten when its from a bank account.
indeed although it can track it, it is a national scale, but when I lost it on an international scale I was sure the bank account would not take care of it, while for security I think it is more to use a wallet that can be integrated with many servers.
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When a fund is lost in a bank account it can still be trace to the account its been transfer to, as to the bank account that the money is been transfer to can be seen, but the information as to the wallet can be gotten, which can be gotten when its from a bank account.
indeed although it can track it, it is a national scale, but when I lost it on an international scale I was sure the bank account would not take care of it, while for security I think it is more to use a wallet that can be integrated with many servers.
unfortunately what you say is true because maybe it is better to use a cryptocurrency-based international wallet because so far only using such a wallet can be used anywhere without having to fear losing.
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When a fund is lost in a bank account it can still be trace to the account its been transfer to, as to the bank account that the money is been transfer to can be seen, but the information as to the wallet can be gotten, which can be gotten when its from a bank account.
I think it happens because bank accounts are not decentralized, meaning that not all servers in all countries have the data so that when you lose the data, you can't backup automatically.
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Fraud for credit card problems in banks is easy to detect because the bank's financial system is centralized, where transaction data is easy to trace because the bank's KYC is complete and centralized.
Fraud in cryptocurrency is very difficult to track down because the system is not centralized, even Bitcoin fraud since 2013 until now cannot be disclosed because the Bitcoin sending is included in the Mixer which can anonymize the Bitcoin recipient.
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With your first question, i think the bank can help trace the person who emptied it but if your crypto wallet is emptied by a fraudster, i think that will be the end of your hard earned money since your wallet is owned and managed by only you
I agree with you. Absolutely right.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
Second question, I answer that get back cryptocurrency from hackers is impossible and no authority can responsible for hacking and fruad.
But 1st question answer that an authority responsible for fruad and hackers but getting money back is pretty possible.
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This is very important subject. When my money is lost from my bank account, bank is liable to back my money. Central bank takes sufficient security from Banks for subsidy in such case if needed. But if my crypto walltet is hacked and fund is stolen, I have no such strong security that exchange will ensure my stolen fund backed. But it may vary from exchange to exchange.
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Banks of any country are regulated by the government / central bank of that country. If my bank account is emptied by a fraudster there, we will first go to the government or the bank regulatory authority, then to the police. They will look into the matter. Usually the bank authorities are obliged to return the money.
Crypto Wallet On the other hand, if a cryptocurrency is emptied by a fraudster, there is no hope of getting it back, because there is no information as to who struck the coin; However, if some exchangers lose their exchange account, they pay compensation.
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As far as bank account is concerned, account owners may receive assistance on event of a stolen funds,but in crypto wallet, there is no such privilege given to individuals. If a bank account is emptied by hackers, individual may little little help from the banks for recover but in crypto, any fund hacked or stolen in individuals wallet can't be recover.
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Blockchain is unreversible once sent money into the wrong wallet (you are responsible of your own wallet and investment) -unregulated. Banks can track and reverse the record straight forward to the particular IP, then the police officers will carry a warrant of arrest to suspect and interrogate the person (they are the responsible to care your investment)-regulated.
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Neither you can save one of them. To avoid that happened careful with your fund for we know any little mistake could lead us for losing our fund.
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For me, it is more promising to keep my savings in cryptocurrency, because cryptocurrency can give very good growth and my savings will grow.
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This is very important subject. When my money is lost from my bank account, bank is liable to back my money. Central bank takes sufficient security from Banks for subsidy in such case if needed. But if my crypto walltet is hacked and fund is stolen, I have no such strong security that exchange will ensure my stolen fund backed. But it may vary from exchange to exchange.
You are right, I agree with you on this point. Banks of any country are accountable to the government or central bank of that country; So if money is lost from someone's bank account, the bank is obliged to return that money. But in the case of cryptocurrencies, there is no such protection and lost money cannot be recovered; However, some exchanges lose money from their exchange wallets due to hacking and return it as compensation. For example, the Kucoin and Binance exchanges recently hacked their exchanges and returned the money to the victims.
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In bank if you lost money fraud you will never back you money and wallet i think 2 example Last few year binance was hack low of bitcoin out from wallet but binance CEO return all money to user from there pocket and also last Kukoin hacked they also return there fund to member from there pocket.
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There is a higher chance of getting your money back in the case of bank fraud where the account owner is not careless or culpable but for digital asset loss from the victim's wallet, the loss is irrevocable due to the decentralized and irreversibility of a true blockchain.
my opinion.
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There are some differences with bank account and wallet. In bank account Clint get more secure then wallet. Suppose your bank account hacked then bank authority can find out or you get back your money. If they can do it or not you will get your money. But in your wallet if your fund stolen then there is no way to refund.
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If you bank account is emptied by a fraudster, you stand a higher chance of getting your money back VS if the same thing happens to you in your crypto wallet.
Banks can investigate and track where the money went to, in some cases, they can catch the criminal, get him or her arrested and your money refunded back to your account.
But in crypto, its the other way round, as ones your money is gone, it's gone for good except the criminal decides to return it back by their own self will.
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In fiat bank account if your Money is being emptied by a fraudster, the bank might help to trace the transaction and might recover it but if they fail to do so then the money is gone.
While in cryptocurrencies if a wallet is being emptied by scammers , the transaction is anonymous and can't be tracked so that means the money is gone for real.
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If your money has gone from your bank account due to bank errors, you will be entitled to defend yourself and get your money back from the bank. However, there is no way to do this in crypto. But as long as you are very careful and the only person holding your private key, crypto is always safer than a bank.
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If your money has gone from your bank account due to bank errors, you will be entitled to defend yourself and get your money back from the bank. However, there is no way to do this in crypto. But as long as you are very careful and the only person holding your private key, crypto is always safer than a bank.
still the bank is the best for storage because it can still negotiate what happened because it is not our fault, not with wallet whose name is wrong, it is clear that there is no alternative that we can find again to look for it.
actually two things that are different and cannot be equated between wallet and banks, let what is already going well just need to run and cover each other's needs.
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In a bank account, if we lose assets it is still possible to come back. However, if we lose assets in a crypto wallet, it is very unlikely that our assets will be able to come back again. And we will also find it difficult to find a way out.
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Hey guys, I have two questions:
1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money back?
2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money back?
😃
both have their own advantages and disadvantages...
I currently still prefer a bank account because it guarantees my fund balance, but in the future when cryptocurrency is mass-adopted, I prefer crypto wallets.
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Though both bank account and a crypto wallet can be regarded as wallet, because they are both used for safe keeping of values, but the difference is that the way they operate, for bank account in this digital world, most looth money are intraceable, and crypto wallet same also.
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unfortunately I prefer to use a wallet that can support cryptocurrency storage because it is safer and of course easier to use.
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unfortunately I prefer to use a wallet that can support cryptocurrency storage because it is safer and of course easier to use.
yes you are right.
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Lol mate ;D
Based on centralization and regulatory frameworks, a fraudster that will clear your money into another account can be traced carefully. But in the case of cryptocurrency it's impossible to traced a fraudster after they have cleared your wallet.
You know the basics of cryptocurrency. Decentralization making peers their own bank and all transactions are from peer to peer with no known physical identity. So once any peers bank gets compromised, that is it, no physical trace. Some of the cryptocurrencies did not even have a digital trace.
But yeah any day anytime, i will always choose to be my own bank.