Day by day we are exposed to be victims of cryptographic scams from cyber attacks, email scams, token scams, NFT fraud, online games, and you stop counting, I have had the chance to enter genuine projects and then see very similar projects where they only change 1 or 2 features at most, cloned pages as the same as the originals, these scammers take advantage of the opportunities of the good intentions of investors and their charisma to perform scams and then just disappear.

Today we are going to talk a bit about cryptocurrency scams that are a real threat to all investors.

homework assignment with professor @yohan2on

First question:

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What are crypto scams?

Crypto scams are scams that are responsible for deceiving the crypto user who invests money in projects that are supposedly genuine and these end up stealing all your money and disappearing, these totally fraudulent projects are born day by day, crypto scams threaten us not only users if not also the credibility of the ecosystem in terms of the security of our finances and where we are going to invest it. We already have enough with volatility but we also have to be very attentive to new projects, no matter how flashy and beautiful they look, we can't trust them at all.

No matter how rewarding this is, the promises that these people tell us, that we will earn a million dollars in 3 days, deposit cryptocurrencies, use credit cards etc. run from these means. do not go to fall into a scam and lose all the money that costs so much to get it, because the money is not born from trees.

There are projects since the hype of the icos in 2017 we see how many scams came out as for example the ico, libration of 2017, areszcoin, onecoin, using a ponzi system they paid with outside money to older investors creating a kind of false credibility in the ecosystem and thus are adding more investors and more input volume greater liquidity and then run away with the loot.

Scam methods:

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Using the ponzi method

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Africrypt is an investment firm founded in South Africa and run by two brothers, Raees Cajee and Ameer Cajee, which swindled thousands of investors for more than 69,000 Bitcoin this loss was huge these brothers disappeared without a trace along with the leaders of the investor.

The biggest scam in history in 2021, two brothers of only 17 and 20 years of age swindled more than 3.6 billion dollars from investors in Africrypt leaving thousands affected and their dreams broken, debts, couple separations and much more, this Great Exchange simply disappeared in mid-April of this year.

The brothers tried to threaten users not to report the incident to the authorities because it would delay the recovery of the platform, several customers reported this incident but the country's authorities responded with "we have no jurisdiction over this type of scam" because this country has no regulations with cryptocurrencies, nor are they part of its monetary cone.

The scammers used the dark web to fragment the assets and thus become undetectable, on the other hand the crypto assets are no longer there the main accounts were removed, the perfect excuse was that they were hacked.

People lost fortunes of money even their life savings in this type of fake investments to attract even more investors they were offering great investment returns as they used the method already known as ponzi.

Follow this website to see more information about it.

https://kchcomunicacion.com/que-es-africrypt-y-como-se-convirtio-en-una-de-las-mayores-estafas-de-criptomonedas-de-la-historia/

To what extent have crypto scams affected the crypto space?

We must understand that crypto scams affect very negatively the crypto market, this in itself is very volatile scammers cost them nothing to get the BTC or any asset which they will sell and then buy other Cryptocurrencies to try to disappear as much suspicion and try to launder what they stole, the ecosystem to see so much supply and so little demand changes the downward trend this is why we see big drops in btc so fast but soon the same ecosystem returns to balance.

But the destruction of homes thanks to these big scams is also a very serious problem, there are people who just want to earn some extra money, others who bet everything and others who ask for loans by mortgaging their houses etc. imagine if they lose everything, where will these people end up?

The crypto space also has its repercussions the flight of potential investors, the fear of loss of some investors who take out their money when they see news like that make the whole price fall to very low levels.

It also contributes to the growing of scams by other people who seeing that they could scam so easily they will want to do the same so we must pay close attention to where we are going to put our money we are going to buy and above all diversify our assets not everything in a basket is good.

Will crypto regulations add value to the crypto space?

Negative the regularizations are very bad for the decentralized ecosystem as the regularizations come with taxes, tracking, and above all blocking to different accounts, which has never happened in the decentralized system, although we know that the current world system is strictly governed by power in terms of centralization and social control of the world population we can see an exponential growth in the decentralized system which has changed a bit the way of seeing things for different people entities and me, the excuses that these large centralized capitals offer is that they want to fight drug trafficking, and other types of illicit activities that are generated in this ecosystem.

But as we well know not only are managed in this ecosystem but in history have endured in centralized ecosystems financial entities using third parties such as straw men, owners of fake companies that never operate with nonprofit organizations and other governmental identities then it is not time to centralize the decentralized as its nature is so FREE AND PURE.

Conclusion:

Scams will always exist with the research of this work we can only prevent and be certain that if we follow step by step the terea and the lecture of Professor @yohan2on we will significantly decrease the error of being a scammer later because we are all prone to fall at any time in the hands of these spawn of the devil. that have no soul and are malicious impure beings who deserve punishment. i hope this task will be of great help to all readers and greetings to all the developers of this great academy see you in the next task.

Thank you Cc: @ yohan2on