Post
Topic
Board Nigeria (Naija)
Re: Can there be a day bitcoin moved to the wrong address can be retrieved.
by
CryptoHeadlineNews
on 27/05/2025, 17:56:25 UTC
And I usually see that as what scammers are using as an advantage of scamming many people that fail to secure their wallets, probably because when they have access to your wallet, they will steal everything, and you can't track them. So I think that if they can get what will make you locate your coins when they have been stolen by scammers, that will reduce scammers in the crypto space.
One thing that is certain is that why you think making Bitcoin traceable will reduce the rate of scam, on the contrary, it will destroy it's anonymousity it has ever established over the years as a decentralized digital currency. Because Bitcoin was designed and meant to be untraceable, uncontrollable and a free digital currency that could be used for day to day inter personal and continental transactions that is fast, secured and reliable without parties without the need to reviewing their respective identities. Hence, Bitcoin transaction can never reverseable, unless if it's on a crypto exchange, since they holds the private key on each funds.