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Crypto crime is too easy
If we canât help protect peopleâs finances in 2024, what does that mean for the future of our financial systems?
1ïžâŁ The huge sums of money lost to crypto scams and frauds is probably the biggest financial looting in the history of the USA.
The FBI recorded losses over $12.5 billion in 2023, 22% more than the previous year. The agencyâs Internet Crime Center received a record 880,418 complaints from Americans about potential crypto and online thefts. Considering that most of the targeted individuals do not report their cases to law enforcement, these statistics imply an even more chilling reality.
We need collective action to resolve this situation, from robust security solutions to innovative regulatory and policy frameworks. Itâs the only way out â and many already affected are on borrowed time.
2ïžâŁ We call upon community leaders, politicians and policymakers to step up and protect vulnerable communities. The present circumstances necessitate proactive and enduring measures from them. This is a battle between good and evil, where regulators and crypto innovators should be allies, not adversaries.
Whether one likes it or not, crypto is here to stay: but it cannot persist in its current form. We must prioritize accountability and transparency to enable this groundbreaking technology to thrive and ensure that more people prosper in a secure financial landscape.
Letâs make crime illegal again.
Part 1ïžâŁ
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