Yes I know I only lost $25 bucks that's not

Question

Yes I know I only lost $25 bucks that's not

bad for me. But when I checked their wallet they funnel all the scammed money back to one main wallet ($1.1 million worth of iotex) and it brings a bigger question to the table, what's gonna happen to all that Iotx? can the scammer send it to a CEX and cash out?

#cryptocurrency #english #iotex

0

04.05.2023

11 ответов

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Buck Moon Shot

Silas Manners∎
That's prolly their main Web 3 security is neede...

yeah wallets need to guarantee cheapest transaction fees without having to check it, coins sent on wrong blockchains need a bounce back feature, Also transactions need to have a cancel function, until these things are implemented throughout all wallets mass adoption will not take place. This is just my opinion. since 2017 i would have lost over 1000 dollars in different ways. thats not acceptable.

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04.05.2023

Anwar (No DMs)

Yes, they can. There's no way to confirm the wallet's identity on iotexscan (whether cex or individual wallet atm I think). If you see a lot of transactions, like maybe more than 4-5 txs in a minute, constantly, I don't think that's an individual wallet. That's probably the CEX hot wallet. In terms of law enforcement, crypto is still an infant. We can probably ask the CEXs to trace the final point of exit for these scammers and work with the local authorities where ever they might be. The CEX won't probably spend resources on small cases, especially with no solid framework (sorta no guaranteed final action by authorities)

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05.05.2023

Anwar (No DMs)

Buck Moon Shot
yeah wallets need to guarantee cheapest transactio...

I think that's a bit hard to achieve or probably not possible at all. With my limited knowledge, what I can think of is adding more checks before a transfer transaction which can be annoying. Something like "is this a CEX wallet or an individual wallet? If CEX, did you do this? Are you sure about the network? The address?"

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05.05.2023

Til’D’End Charles Tilley

Buck Moon Shot
yeah wallets need to guarantee cheapest transactio...

An opt-in de centralised proof of ownership would be good, those who don’t mind being recognised their assets are marked unless they sell them.

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06.05.2023

Buck Moon Shot

Til’D’End Charles Tilley
An opt-in de centralised proof of ownership would ...

Yeah or payments go to a holding pool that can recognise if its a bad send and return it ... lol i dont know

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06.05.2023

ER1K_V1K1N9

Buck Moon Shot
Yeah or payments go to a holding pool that can rec...

Escrow? How long?

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06.05.2023

Peter

ER1K_V1K1N9
Escrow? How long?

One main challenge with Escrow is the duration before transaction is sealed. I think the minimum duration is ~a month.

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06.05.2023

ER1K_V1K1N9

Peter
One main challenge with Escrow is the duration bef...

Yeah that's out of the question then.

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06.05.2023

ER1K_V1K1N9

Peter
One main challenge with Escrow is the duration bef...

Makes sense though it's usually used on larger sums and property.

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06.05.2023

Peter

ER1K_V1K1N9
Makes sense though it's usually used on larger sum...

Agreed! It sure has its advantages, the reason some persons opt for it.

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06.05.2023

Silas Manners∎ · Accepted Answer

Silas Manners∎

That's prolly their main Web 3 security is needed more and more. Prolly call on Zach fir some onchain analysis Nothing will happen to IoTeX IoTeX daily will be hosting an ama with a web3 security platform so our community members will know how to safeguard their assets from scams and avoid the risk of loosing their hard earned savings and portfolio

0

04.05.2023

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