THE CRYPTO CORRUPTION AND THEFT IS AT CRAZY LEVELS !!! – LMAO
Just look at this list of hacks below,,,, how could anyone feel safe investing in Crypto’s ???
|MyBitCoin Theft||154,406 BTC||$2,000,000||Aug 2011|
|Bitcoin7||11,000 BTC||$50,000||Oct 2011|
|Linode Hack||46,700 BTC||$228,000||March 2012|
|Bitcoinica 2||18,000 BTC||$91,000||May 2012|
|Bitcoinica 3||40,000 BTC||$305,200||July 2012|
|Bitcoin Savings & Trust||265,000 BTC||$2,800,000||Aug 2012|
|Bitfloor Theft||24,000 BTC||$250,000||Sept 2012|
|BitFloor Hack||24,000 BTC||$250,000||Sept 2012|
(related to bitcoinica hack in May 2012)
|20,000 BTC||$260,000||Dec 2012|
|Vircurex||1,454 BTC||$160,000||May 2013|
|Inputs.io Hack||4,100 BTC||$1,200,000||Oct 2013|
|Picostocks Hack||6,000 BTC||$3,000,000||Nov 2013|
|BIPS Hack||1,295 BTC||$650,000||Nov 2013|
|Mt Gox Hack||850,000 BTC||$450,000,000||Feb 2014|
|Poloniex||97 BTC||$64,000||March 2014|
|Flexcoin Theft||896 BTC||$600,000||March 2014|
|CryptoRush Theft||950 BTC
|Mintpal||3,894 BTC||$1,300,000||Oct 2014|
|BitPay||5,000 BTC||$1,800,000||Dec 2014|
|Bitstamp||19,000 BTC||$5,200,000||Jan 2015|
|796 Exchange||1,000 BTC||$230,000||Jan 2015|
|Kipcoin||3,000 BTC||$690,000||Feb 2015|
|Bter||7,170 BTC||$1,750,000||Feb 2015|
|DAO hack||3,600,000 ETH||$60,000,000||June 2016|
|Bitfinex||120,000 BTC||$77,000,000||Aug 2016|
|Bitcurex||2,300 BTC||$1,500,000||Oct 2016|
|OneCoin Pyramid Scheme||(ongoing) N/A||(actual scale unknown estimated $50m)||Dec 2016|
|Asian-European Currency Ponzi Scam||N/A||$47,000,000||Jan 2017|
|Yabizon (Youbit)||3,816 BTC||$5,300,000||April 2017|
|Parity wallet hack||153,000 ETH||$30,000,000||July 2017|
|Coindash ICO hack||43,500 ETH||$10,000,000||July 2017|
|Enigma Project Scam||1,500 ETH||$500,000||Aug 2017|
|Tether Token Hack||30,950,010 USDT||$30,000,000||Nov 2017|
|Parity Wallet suicides||513,774 ETH||$160,000,000||Nov 2017|
|Youbit korean exchange hack||Exact amount not reported||Lost 17% of assets||Dec 2017|
|NiceHash Hack||4,700 BTC||$62,000,000||Dec 2017|
|Coincheck||500,000,000 NEM||$400,000,000||Jan 2018|
|BlackWallet Theft||670,000 XLM||$400,000||Jan 2018|
|Seele ICO Theft||2,162 ETH||$1,800,000||Feb 2018|
|Coinhoarder Phishing Scams||(ongoing) N/A||$50,000,000||Feb 2018|
|BitGrail Theft||17,000,000 NANO||$170,000,000||Feb 2018|
|Bee Token Phishing||890 ETH||$928,000||Feb 2018|
|BTC Global Ponzi Scam||N/A||$50,000,000||Mar 2018|
|South Korean Bitcoin Pyramid Scheme||N/A||$20,000,000||April 2018|
|MyEtherWallet DNS hack||215 ETH||$152,000||April 2018|
|iFan/Pincoin Token Scam||N/A||$650,000,000||April 2018|
|GainBitcoin India Ponzi Scheme||N/A||$300,000,000||April 2018|
|Dantang coin Ponzi||N/A||$13,000,000||April 2018|
|Coinsecure Theft||438 BTC||$3,300,000||April 2018|
Here is the Graphical Representation of the Mess…
Well we must take into account that hacks done in years past would be much more valuable in the tokens at today’s values. Also hacks this year might now have values of 1/2 that which were reported. None the less at first appearance these values would appear to be pretty large. But then the worlds crypto economies are pretty large, say 1/4 to $1 Trillion. I wonder what the established Banking Sector’s record is compared to the Crypto Space….
NOW JUST A FEW SCANDALS OF THE TRADITIONAL BANKING ESTABLISHMENT
|BANK||TYPE of FRAUD||AMOUNT||DATE|
|Lehman Brs.||Housing Loans||$600 Billion||early/mid 2000’s|
|Madeoff Invst Sec||Ponzi||$64.8 Billion||Dec 2009|
|Standard Chartered||Enemy Loans||$250 Billion||Dec 2012|
|HSBC||Mex Drug Laundering||$1.9 Billion||Aug 2012|
|Kabul Bank||Fake Loans||$861 Million||2012|
|USB||Bad Investments||$2.3 Billion||2012|
|RBS, UBS, CitiBank, HSBC, JP Morgan||Fixing Foreign Exchange Rates $2.6 Billion FINE!||Unknown||2014|
Which brings us to the GRAND DADDY OF THEM ALL, the “LIBOR SCANDAL”.
WHY IS THE LIBOR SCANDAL SUCH A BIG DEAL?
Well the LIBOR (London Inter Bank Overnight Rate) is the base rate that sets just about every other interest rate in existence. It is the basis for Car Loans, Home Loans, Business Loans, Development Loans, Credit Card Loans. The Banks were caught colluding on setting the LIBOR rate artificially high to get the extra interest. This went on for years, perhaps even decades, the absolute amount that the banksters stole will never be known, but it is a whopping HUGE number, perhaps in the $100’s of TRILLIONS. What we do know is that the Banks have paid $22 BILLION in FINES, only a drop in the bucket (yet 44 times larger than the LARGEST Crypto Hack). The ASSETS (loans) out that are affected by the LIBOR rate are valued at over $350 TRILLION. Add up the skimmings off of that over a few decades and see what kind of number you come up with…
CONCLUSIONS & ENDING THOUGHTS
Hmmm, looks to me like there is an order of magnitude $$$ difference here on the order of 1-10,000+ maybe even 100,000 times difference. Is the “establishment” financial world really more than 1-10,000 times larger, maybe even 100,000 times larger, than the crypto financial space? I don’t think so. I think there is an order of magnitude more FRAUD in the TRADITIONAL and ESTABLISHED Financial System.
This does not even consider the fact of TRANSPARENCY. It can take years, even decades for the wrongdoings of the Banksters to come to light, take the LIBOR Scandal for example. To the contrary of this we have the CryptoEconomy, where TRANSPARENCY brings all to light quickly. We hear about HACKS the same day or day after they happen. Often the involved accounts get frozen and part of the funds are salvaged. Even some 3ed Generation Blockchains have these types of Governance abilities built right into their foundation structures (EOS, TeLOS, WORBLI). Indeed, this is a much safer and more honest environment than the traditional established banking system.
These are the EXACT REASON we need CryptoEconomies, so that people can get away from the FRAUDsters (aka Banksters). If you don’t want your hard earned money to be swindled away, you best RUN to the CRYPTO MARKETS and save yourself, your family and your loved ones.!!!!
This is INVESTMENT ADVICE from the DAO INDEXES & FUNDS.(click to read more about DAO)
Never invest funds you need for living and the near future.
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