The rising concerns for the Crypto World is not all an assumption. The digital world upheaval does not completely resemble a wonder tale. It comes with it’s share of heart breaks and disappointments. And apparently that is a whooping sum of $9 million a day. Theft, hacks, phishing, fraudulent activities are all rising at par with the tech world’s upheaval. About 22 distinct scams welcomed 2018 which swiped away $400,000 or more. Equating this undesirable calculation, the loss is about $9 million a day. That’s a real heartbreak.
2018 has seen a heavy welcome with the Industry’s volatility coming to forefront. What comes as a bigger tragedy is the hefty amount that’s been swiped right away in just moments.
One of the best fact about Cryptocurrency is it’s transparency as the highs and lows are always made public. This knowledge is helpful for the investors to make a pre-informed decision about what to invest in.
But what would really be the best is to see this massive amount reduce down to zero.
A quick reality check :This is not happening any time soon. All you can expect is to have a realistic reduction in this heavy rate.
The first two months of 2018 reported a large number of Crypto scams. Incidents stated that the amount reported were usually a lot more than the maximum possible amount that could be illegally transacted. The actual valuation never gets noticed and for some cases, to obtain any estimates gets a troublesome deal.
Any reduction in this scam valuation would definitely imply that the Crypto vents have started taking wiser decisions and so have the investors. And this news of rising illegalities should come under notice to help the history from not repeating itself. More sophistication and informed decisions along with tighter security seems the only way to let the scams go down.