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Author Topic: Reducing & avoiding cryptocurrency scams  (Read 3783 times)

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Offline haciandaklubTopic starter

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Reducing & avoiding cryptocurrency scams
« on: September 28, 2020, 05:30:49 AM »
Over time, cryptocurrency scams have become very popular and also the frequency of them has increased. Cryptocurrency scams are mainly successful mainly because there is no mechanism to check for fraud detection, and once the fraud has occurred, there is little recourse that can be made to recover the funds stolen.

The only way forward to avoid them would be to enforce strong regulation and have offchain identity system like Concordium enforces. This would discourage the malicious actor to be easily identified, since every wallet will be linked to a real world Identity without publicly revealing them.

Making sure to enable 2 factor Authentication and having strong passwords are also some of the common security practices to follow. But making sure we have inbuilt secuirty features like I mentioned earlier would make crypto safe and secure for even the not so technical crowd.

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Re: Reducing & avoiding cryptocurrency scams
« Reply #1 on: February 15, 2021, 05:57:11 AM »
Is there a way while viewing transactions in the blockchain records to see the debit card numbers associated in buying the bitcoin?
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Offline CryptoStar19

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Re: Reducing & avoiding cryptocurrency scams
« Reply #2 on: July 06, 2021, 01:12:04 PM »
Is there a way while viewing transactions in the blockchain records to see the debit card numbers associated in buying the bitcoin?

No, this information would only be known the currency exchange service you used to buy the bitcoin --it wouldn't be on the bitcoin blockchain.


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