Being VALEGA Chain Analytics CTO I deal with a harsh reality: people fall for crypto scams and lose their money every day.
Year after year the numbers just go up. From phishing to Ponzi schemes, from rug pulls to plain hardcore stealing, the raw volume is just scary and in a way amazing!
Common sense tells us that the more the crypto world evolves, the fewer scams. Reality shows us the opposite and it’s surprising.
Nowadays it is easy to find communities dedicated to finding and validating scams, there are analysis tools, mainstream media regularly exposes elicit crypto activities and exchanges (among other companies) are making an effort to educate their clients. Nothing seems to slow down criminals!
Preventing scams is surprisingly hard. Technologie can evolve and AIs can recommend but the final protection will always be the final user. I believe in the user, people are smart, and with time we getting savvier, and knowledge is increasing but in most cases, we are just truly aware after an event. The popular saying “You Don’t Know What You Don’t Know” perfectly explains what is going on!
Let us imagine that a perfect tool is created. On its database, we can find all past scams, and its AI can predict future events. It is just amazing. I can say, with confidence, that victims would still increase because if a user does not have the proper education he does not know or remembers that he needs to validate all investment platforms, the tool is just useless. And this is the challenge!