Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub
by fullstop on Wednesday February 23, 2022 @08:10AM
(#30440555)
I can't find a good number on this, but I would have to assume that scammers still take more fiat through phone scams and things of that nature.
I have to hand it to the cryptocurrency scammers, though, they are definitely more sophisticated than phone scammers.
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub
by sharperguy on Wednesday February 23, 2022 @09:04AM
(#30441020)
Most ICOs, NFTs and smart contracts are just more complicated versions of regular securities, that evade regulation simply by taking advantage of the time lag that authorities have in terms of understanding them and enforcing existing regulation.
If you look under the hood, each supposedly decentralized, non-custodial service tends to have a centralized component coordinating or in some way controlling the entire thing. For example, a platform that pegs the value of an asset on the Ethereum blockchain to the US dollar, could depend on a single server to inject information about the price of the US dollar in terms of Ethereum or smart contract tokens.
Re:U.S. Secret Service Launches Cryptocurrency Awareness Hub
by thebean11 on Wednesday February 23, 2022 @09:51AM
(#30441601)
Most do not depend on a single server for price feeds, they use a quorum of independent servers operated by different entities. The data is then combined on chain, and on chain code flags if there is disagreement on the price.
This is a public information campaign; the sole purpose is to provide public awareness information on digital asset security and how to ensure it remains secure.
[1] https://www.cnbc.com/2022/01/06/crypto-scammers-took-a-recor...