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No, scamming people is much easier with crypto. The transactions are irreversible, for one.
by Synaesthesia 1y ago
No, scamming people is much easier with crypto. The transactions are irreversible, for one.
- akritrime 1y agoAs it is with cash.
- superjan 1y agoAnd crypto scamming is anonymous, low risk and can be automated. Scamming people for cash requires you to get close to each of your victims.
- PartiallyTyped 1y agoCash is backed by a government, which can coerce parties into following the law.
- FabHK 1y agoIndeed. The Economist estimates the modern scam industry to be as large as the illicit drug trade by now, around $500 bn annually in revenue. Enabled in large part by crypto (pig butchering, ransomware, rug pulls were not a huge thing before crypto).