The biggest Crime in cryptocurrency

[FotisNt]

We've heard exchange getting hacked and millions of dollar worth crypto being stolen.  
Last year, Myetherwallet was exposed and hacker penetrated and stole alot. 
Scam ICO made away with millions in recent years.
Crypto traders and investors are taking precautions so as to not fall victim. This doesn't guarantee Scam free Crypto space coz right now someone is being scam. 

What could be the biggest Crime in cryptocurrency

[m42z3c]

i guess the BIGGEST crime would be how you spend the crypto. keep it legal. other than that robbing someone of their money has always been a wrong thing.

[williamshennie9]

There was a binance exchange attack last month if I recall correctly whereby a massive amount (in million of US dollars) worth of crypto were stolen. That was one of the biggest crimes that I know of.

[nattekut]

I think the biggest crime so far was the scam of the envoin ICO. they raised over 60 million USD and kept postponing the delivery of their products. And after several months there came news that they got bankrupt because some of the team members took of with all the funds. I even think that at this very moment this case still is under investigation.

But I think every crypto received in an unethical way is a big crime.  And this happens every second of the day. I think every day, minute, second of the day some steals BTC or other crypto from someone else.

[barbaris]

Most of these crimes will never be investigated, because hackers have become too clever and resourceful. And to be honest, it seems to me that in general no one is trying to investigate this kind of cryptocurrency theft.

[jualid]

An exchange that become a scam, remember how big Mt Gox scam was? Now imagine if big and popular exchange like binance turn out into scam like mt gox, it would be chaos there.

[allisonn]

Depending on what you think qualifies as criminal, I think some of the top 10-50 cryptos are very close to 100% scummy. Valued by market cap that's a ton.

In 1-3 years time at least one will be zero or near-zero, with all the money burned up.

[Etude]

Definitely hacking a cryptocurrency exchange and stealing the funds is a terrible crime in the highest degree of theft. Yes the other one would be repeatedly committing scams of many kinds over and over again in order to take advantage of others who are gullible and naive to take away their funds or informations.

[Kate]

The biggest crime is the cryptocurrency exchange being hacked like the exchange dont remmeber its name clearly but it was labeled as the biggest crime in the history and even bigger than anything.  

[ArturShabanov]

крах биткоина

[gougou]

For me me biggest crime in crypto is the scam ICO  and ponzi schemes with crypto likes sgc ,prizm etc

Stealing its crime but  trade companies have to have security to stop stealing because they get paid when we put our money 

So i believe big crime is to scam people that they dont know abiut crypto and believe they can earn  money by being there first buying fromscam ICO

[ryzhov]

There are many answers on this subject. Wallet theft, cryptocurrency scam. In addition, do not forget about selling drugs, weapons, killing people, children's materials and much more that you can buy for cryptocurrency on the other side of the Internet. This is the biggest crime

[Forceowl17]

cryptocurrency is a new market and there will be even more crimes. in the Fiat markets, there is also enough crime, but everyone is talking only about crypto

[DERCRAFT]

Bankruptcy Exchange Mt. Gox
But did you know that already in 2015, the market value of one bitcoin could be about 1,500 US dollars for one coin? The stable growth rate of the leading digital currency was hindered by the Tokyo exchange Mt. Gox, which in the summer of 2013 conducted up to 50% of all blockchain transactions for bitcoin. In early 2014, Mt. Gox closed the top three exchanges leading digital money transactions. However, it was at this time that an incident occurred out of the ordinary - around 850 thousand bitcoins unexpectedly disappeared from the clients of this site, whose market value at that time was about 470 million US dollars!

Later it was possible to return 200 thousand "cue ball", but this did not correct the situation. As a result of the incident, the exchange suspended trading, limited the withdrawal of funds, and then generally filed for bankruptcy. As a result of this event, bitcoin fell exactly 3 times.

It is noteworthy that the reason for this loss has not been finally established to date. Most likely we are talking about a massive hacker attack, which led to the theft of money.

OneCoin Project
In 2015, a group of enterprising businessmen tried to take advantage of the popularity of cryptocurrencies by launching the so-called OneCoin project. OneCoin meant a new digital currency based on cryptography and blockchain. The launch of this startup brought considerable profits to its owners. However, market experts quickly figured out a scam, recognizing in it a classic financial pyramid. During the investigation, it turned out that OneCoin is not a cryptocurrency, but a kind of analogue of electronic payment systems actively used in modern gaming. Therefore, all operations conducted with OneCoin are aimed at personal enrichment of owners at the expense of respectable investors who decided to invest in a new and “promising” digital currency.

Bitfinex hacker attack
In 2016, a group of hackers dealt an irreparable blow to Bitfinex, the largest global exchange trading bitcoins. Using a planned attack, the attackers managed to withdraw from the accounts of about 120 thousand bitcoins, the price of which at that time was 65 million US dollars. As a result, user accounts were frozen, transactions were suspended. The market rate of bitcoin fell the next day after the theft by 20%.

Drug Traffic on Silk Road
At the very beginning of the era of cryptocurrencies, the anonymous virtual trading platform Silk Road, working through the Tor browser, seriously damaged the reputation of digital money and blockchain technology. The fact is that more than 70% of all goods passing through Silk Road, in fact, were nothing more than psychotropic and narcotic drugs. All purchase and sale operations were carried out using bitcoins, which guaranteed complete anonymity to both sellers and buyers. It was practically impossible to track down attackers who freely trade through Tor (the so-called Dark net), and even additionally are protected by encryption through the blockchain.

In 2013, thanks to the efforts of law enforcement, Silk Road was finally closed. However, as they say, an unpleasant sediment remained.

Syrian Electronic Army Scammers (SEA)
For the past several years, scammers and extortionists from a non-governmental terrorist organization, the Syrian Electronic Army, have been engaged in targeted mailing of threats and demands to the email addresses of businessmen, politicians, public figures. The requirements are quite prosaic - to transfer a certain amount in digital currency to the specified wallet, otherwise the “army men" threaten to disclose the incriminating evidence or closed personal data of the recipients of such correspondence.

Tracking intruders is virtually impossible. All used email addresses are one-day ones, and wallets, taking into account the use of the blockchain, cannot be blocked.

Operations on the Coin.mx exchange
This quite popular virtual platform has established itself as a place to launder financial flows obtained illegally (in particular, with the help of hacker and massive virus attacks). Coin.mx organizers E. Murgio and Yu. Lebedev registered Collectables Club to activate and conduct black schemes, but already in 2015 they managed to bring the scammers to fresh water. Today, Coin.mx executives are in custody and awaiting their sentences.

Chinese hackers
At the beginning of July 2018, a group of hackers who developed and launched a series of malicious software applications on the network were discovered and arrested by the Chinese cyber police. The purpose of the development is to send to ordinary users applications to browsers via the Web, which should speed up surfing and computer operation. In reality, such programs immediately after installation began to work hard for their owners. Namely, mine cryptocurrency and automatically send mined coins to the wallets of their owners.

In just two years, attackers managed to extract 26 million DigiByte, Siacoin and Decred tokens, whose market value today is more than $ 2 million.

BitConnect Project
Perhaps the most high-profile scam that seriously shook the cryptocurrency market in 2018 was the unexpected collapse of the BitConnect project. This digital investment platform appeared on the Web in 2016 and immediately announced its intentions to enter the digital economy elite, bringing superprofits to all project participants without exception.

At the heart of the scheme of work of fraudsters is special software, which, according to its developers, helped to calculate and then generate daily profit in digital currency. Everyone who bought copyright software could calculate the exact time period for the most profitable purchase or sale of “cue ball” on virtual exchanges. According to the promises of fraudsters, such a scheme was to bring up to 365% per annum of net profit (or 1% per day)!

Positioning itself as a successful ICO startup, the BitConnect project, indeed, for some time promoted Bitcoin, contributing to its price growth, and, accordingly, to popularization on the Web. The startup issued BCC tokens, which until the beginning of 2018 were among the twenty most expensive cryptocurrencies in the world (exchange price - more than $ 400 per coin).

However, in early January 2018, BitConnect unexpectedly turned off its activities for everyone, and the virtual platform closed. The cost of BCC instantly fell by 65%, and the capitalization of the project decreased from 2.8 billion to $ 188.2 million US dollars. During the investigation, it turned out that BitConnect was nothing more than a well-designed fraud scheme. Having collected several billion profits from investors, the scammers laundered money and immediately closed the platform, thus leaving investors with a nose.

[Marat2013]

On 10.07.2019 at 20:24, barbaris said:

Большинство из этих преступлений никогда не будут расследованы, потому что хакеры стали слишком умными и находчивыми. И, честно говоря, мне кажется, что вообще никто не пытается расследовать этот тип кражи криптовалюты.

Hackers have become smart, of course Yes! But is it impossible to find and catch them at all? Surely there are services that still investigate such crimes, because thefts occur on a very large scale!