Quote from: Tungsten-1 on November 06, 2019, 08:03:35 PM

Quote from: BartS on November 05, 2019, 02:53:22 AM

Quote from: Sahyadri on October 31, 2019, 10:01:10 AM

If you look at any payment mechanism which is online and uses phones and internet, the scam rates are pretty high. Because it is easier to get into a device through Trojans or phishing sites and hack a system. Also, it is easier to manipulate people on internet into giving details as digital literacy is there but that efficiently. The situation is worse in crypto because it is more complex and requires understanding of wallets, exchanges and keys which is tough to understand. Moreover, there is no central authority to look after the crimes. This increases the problem.

Many complain about the high level of scams going on in the market but the same is happening with credit cards, hackers are taking advantage of the lack of culture when it comes to online security and they are making themselves rich in this way.

But the problem is even more acute in this market because as we know there is not a central authority that will protect you in the case you lose your coins, we were supposed to take that role and it seems many people are failing at that task.

The problem of scamming of cyber crimes is happening in every kind of market. It is not limited to crypto market only as you said; I believe anything connected to internet is prone to scamming or hacking. We cannot completely stop because even in centralized systems, people get scammed of their plastic money but we can take measures to avoid such mishaps. For crypto, we shall prefer offline wallets, avoid sharing keys with others and avoid talking about your assets on platforms.

Many exchange market have been scam least one year and people claimed with crypto is scam, but fact only several exchange market have scam with their assets hack or just playing drama to public. Many people think crypto is scam and not safety for investing and give bad effect with bitcoin and altcoin price still down until now, need support to exchange market safety for their assets and never playing drama with hack account and their balance.