Except we want to lie to ourselves, bitcoin has made it possible for scammers to scam a lot of people with been able to trace them. The anonymity that bitcoin provides made scammers to keep using the platform to carryout their bad business.
Have crypto currencies provided a safe haven for scammers?
- Thread starter Bookwormlux
- Start date
It is really very hard for people to recover any money they lost in cryptocurrency transaction. This is the reason a lot of scammers make use of cryptocurrency.
Well you are right to some levels it provides way for scammers to save their money but I guess it's easy to traced them
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Yes you are right, it has made it easy for illegal and stolen funds by government officials to leave the country without being traced or being called upon by the bank of the body incharge of financial crime
Well I wouldn't say that the cryptocurrency has given the scammers a safe haven, except for the fact that they can't be traced. However, the goal is to be careful and not disclose your security codes and secret information.
Yeah cryptocurrencies have given scammers a new way to continue their scam activities. Since it is completely anonymous and doesnt require kyc , scammers take this as an advantage.
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cryptocurrency have a lot of advantages and disadvantages and of course a lot of unscrupulous people who take advantage of its decentralized nature to scam people because they can't be traced.
In as much as it is bitter bit that is the truth because a lot of counties have been complaining and I am sure that it is something that has to change.
The answer is yes , crypto currency has been a safe avenue for scammer online, most scammers are using the avenue of ponzi schemes, faucet sites and at times forum sites to scam people.
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- Thread starter
- #50
I also read that kidnappers usually ask their victims to send ransom through crypto currencies. This made my country to ban crypto currencies.
There is always the good side and the bad side of everything and th cryptocurrencies is not an exemption of this. But it is becoming less a place for scammers because of kyc most cryptocurrency platforms conduct now
- Thread starter
- #52
Some of these scammers do not fear this kyc verification process as they believe it would be difficult for them to get traced even with their details open to exchange platforms.
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To some extent I think this is the very reason why most countries are against the use of cryptocurrency and have now resorted to banning it
The annonymity nature of bitcoin and most other cryptocurrencies are not long strong because I have read updates on how scammers are tracked and arrested.
In recent times, most cryptocurrency exchange platforms are beginning to do or carryout what the banking institutions do like there introduction of KYC for their customers now. So, I think it won't be a ave haven as it used to be for them scammers again
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The introduction of the know your customers has help to battle a lot of fraud that has to do with cryptocurrency, even with this scammers also understand how they can operate conveniently on the internet without being caught.
There are several scammers using bitcoin to scam people because it cannot be traced. It is therefore very important that people become very careful with their wallets.
Well, I read a news that said lot of people are scammed in the name of ICO and airdrops but getting scammed is a result of greed and ignorance, it has nothig to do with cryptocurrency in general
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Since crypto currency transactions are anonymous, it has been easier for scammers to operate. Since crypto transactions cannot be reversed, it is very likely to get scammed
Am telling crypto currency has helped many online scammer Cash out big Time instead of them waiting for cash. They tell their clients to pay through crypto
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