It seems to be today's trend that every single day another horrible story comes out where people lose their crypto assets because of some slick scammer who knows how to hack the system. It is unbelievable how appropriate regulations are not put in place. You would think it's the government's responsibility but I'm just realizing the government hates crypto so it looks like a win for them since every crypto fraud or scam reduces crypto's reputation in public eyes.
Take the so called crypto investment opportunities for example. It literall promises you the moon. They show quick returns and high pressure tactics to get your money, and thensurprise surprise, your money just disappears the minute you deposit. To be fair I'll 100 percent blame you if you got yourself fooled by too good an investment opportunity however I won't blame you always because to be honest, some of these opportunities are pretty tricky.
It's happening all the time, and it's as if nobody really does anything to stop it.
And don't even get me started on the big crypto exchange platforms, that's even where the hacking and fraud action happens most of the time. They are far from immune to hacks themselves. Imagine putting your hard earned money in such an exchange and waking up one day to find that it has been hacked because of the poor security level.
It's simply outrageous how users could lose everything because these platforms can't be bothered to protect their customers properly.
The situation is shouting for regulations. We need some real rules, protections to keep these crooks at bay. Governments and financial authorities really need to step up and set clear guidelines. The platforms need to seriously invest in better security and stop pretending like they're doing us a favor by offering us a place to trade.
Also I think it would be good to have basic education on this because it's is sorely lacking. If people were better equipped and informed about the risks involved and how a person is supposed to identify scams, perhaps fewer would fall into the trap of such fraudulent schemes. After all, giving some basic advice isn't that hard right. You can easily tell people to be wary of offers that are obviously too good to be true. If you experience stuff like this, do tell guys.
Enough is enough, I think serious action needs to be taken to protect people against crypto scams. No more half measures and excuses, we need real change, and we need it now.
I'm not going to say vote for Trump the crypto president but I hope government starts caring more about these issues.