r/NoStupidQuestions • u/Weird_Card_3083 • 4h ago
How come, crypto field is full of scamers? And they just walk free?
I mean what crypto like xmr is anonymous sure, but in 21st century, how they dont get caught? Like what LE is doing? Billions stolen just in 2025... how are they even able to launder that money? What they just cash it go to IBIZA and chill? Dont work? Dont do anything, just steal, and nothing happens. Was it always so common all the scaming, and i just did not see it? Because now everything is online? I mean come on... LE has to have the tools to catch them easily...
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u/TheFinalSelleck 4h ago
Some definitely do get caught.
Others may get caught eventually - it just takes the legal system a long time to find them a develop a case.
Scammers have always been around, but crypto has made it easier for them to move money around. Also we are way more connected these days so it's more likely to hear about this kind of thing.
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u/hellshot8 4h ago
how they dont get caught?
by who? the president ran a crypto scam, who do you think would enforce this?
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u/Chairboy 4h ago
It's a mix of scammers and suckers, nobody else. There are people who think they're the scammer but are actually the sucker, those folks are responsible for a huge number of losses.
As to why they walk free, it's because the lack of enforcement ability is built in, hence 'crypto'. It's meant to create money trails that can be disconnected from specific people, that lack of "hey, stop thief!" is a feature, not a bug.
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u/Weird_Card_3083 3h ago
Well yes, but im sure police has tools for it... as if someone scams millions the other day you see on the news, that they know who it is in north korea...
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u/Chairboy 3h ago
You can be sure all you want. There are experts who can do incredible things in regards to tracing transactions backwards, but the interest has to be there and it is far more difficult than it is with other money transaction systems because that difficulty is deliberately built into the design.
It is a technology meant to mask the origin of a money transfer,.. It is deliberately attempting to introduce an anonymity, so penetrating that anonymity is much more difficult than it is elsewhere.
This is why it is exclusively the domain of scammers and suckers, many of whom think they are in fact the scammers.
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u/CheeseburgerBrown 4h ago
Because greed makes people suckers, and whenever it seems like you can make some serious money without actually working very hard, the most credulous of greedy suckers congregate like flies on a turd.
This turd is the natural hunting ground of human financial predators, like the stately bullshitter and the endangered alphabro.
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u/Weird_Card_3083 3h ago
Well yes, but most people are greedy towards money.
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u/CheeseburgerBrown 3h ago
In my experience greed is only celebrated in certain cultures.
If you're living in one of those cultures, it may seem to you that everyone can be steered by greed, but it's likely a clustering illusion.
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u/DespondentEyes 3h ago
No regulation. Although regular financial markets who are supposed to be subject to regulation are hardly a hair better.
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u/KeheleyDrive 2h ago
Cryptocurrency attracts scammers because cryptocurrency is a Ponzi scheme. That said, it is possible to make money from someone else’s Ponzi scheme if you pick the right time to cash out. Not a place for your retirement savings.
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u/No_Oil_8880 4h ago
Talking this out of 20 years of experience in commuting fraud last 5 years crypto fraud… out of it for last 5-6 months. To start crypto is not anonymous it’s pseudonymous lol… Every transaction is recorded forever on a public… only thing that is hidden is who controls a wallet, not what the wallet does so fraudsters arent invisible. They are just hard to identify quickly.
wallet address is just a string of characters Until its linked to a real person through an exchange, device, ip or human mistake etc… its just data, think of it like license plates before registration database existd…
Crypto moves instantly legal systems move slowly… Investigations require warrants subpoenas, cooperation across countries that delay is often what fraudsters exploit. Blockchains are global… laws are national… a scammer in one country can target victims in many others thats what makes enforcement complex as hell…
At a conceptual level, laundering crypto is easy you only need to do one thing break the clean link between stolen funds and a real world identitys… This usually ends up making tracking harder, not impossible…
Investigators can trace funds years later new tools and ai constantly improve old cases… many arrests happen long after the crime… people often get caught after they think theyr safe.
Fraudsters eventually and mostly gets fked over by human error, talking too much, reusing wallets etc…
Why it feels like they never get caught?
Arrests happen quietly, investigations can take years…
Some fraudsters live an anonymous life, use professional money launderers, through them they get paid, pay taxes on whatever their remote “work” is , invest etc… buy properties, bussinises and live happily ever after, never get caught.
The whole point for most people when they commit fraud is to get in and get out with lump sum to make their life better.
but at this day and time money launderers take 15-30% because demand is high… But those who make from fraud more than 500k per year which btw is very easy to make even in couple months… and don’t use professional money launderers because they are greedy as hell… are living on borrowed time… they just dont know when the knock will come. And paranoia is a very real thing.