Re: Crypto thefts, fraud hit $1.2 billion in Q1 report

Quote from: akeegan on April 30, 2019, 09:38:38 PM

Can you believe that losses from the theft of crypto from exchanges due to fraud hit $1.2B?

https://www.reuters.com/article/us-crypto-currency-fraud/cryptocurrency-thefts-fraud-hit-1-2-billion-in-first-quarter-report-idUSKCN1S62P3

I still can't wrap my mind around why people wouldn't want to have compliance with AML and KYC to better help that this doesn't happen

If bittrex or binance got hacked that's not my problem, this statistics also 100% shows how garbage their security system is (behind this security system there are IT personals which seems can't do their job properly). People usually use bitcoin for two reason: 1. Privacy 2. Profit, so when privacy is my choice, I think KYC documents must be far away from it. And if fraud happens because of stupid user, that's another task.