Hello Everyone,
Alhamdulillah I am fine with your prayers by the grace of Allah, I hope you are all well. Welcome all of you to the exciting and unimaginable knowledge at Steemit Crypto Academy. I thank Professor @yohan2on for the fact that through him and I have learned from this post on all the scams or other risks that exist in this crypto world. And knowing this, we need to invest in our market by investing in our own assets.
So let's present my own homework task today based on what we learned from homework post.

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Q1: What are Crypto scams? Make your research on any Cryptocurrency scam. (Attach a few references to the news surrounding that scam crypto project)

What are crypto schams?

The reason why our world is so big is because there are so many people living here and there are so many complex people because the people of this world can't find any similarities with any one of them. It is a wonderful creation of the Creator. And when we think about it, many of us have no idea what people are doing or how the market works and that is why they easily fall prey to scammers. And cryptographic scams are based on the fact that these people steal their investors' passwords and empty their accounts or They will create traps or tactics in such a way that people will hand over their own will and their own property to scammers. And at that time they will not understand what they are doing but only when they lose their money or property will they have an experience about it.
It's no secret that cryptocurrency investors don't have the same protection as traditional markets, so the risk is significantly higher because of so-called scams.

Since it is a decentralized network, it is very easy to plan this illegal activity in the crypto world and where the cost of data and identity protection is much higher, catch scammers, and convicting the culprit is very difficult and it is a field that has some rules so there are several ways to identify these corrupt people.
So let's take a look at some of the ways in which crypto scams happen.

1. Fake website:
In the crypto ecosystem, people are encouraged to carry out crypto activities using fake websites, in which case some of the letters on a website can be made to appear real, and phishing can be shared through links that reveal user credentials and this can cause additional damage to the cryptocurrency ecosystem.

2.Counterfeit exchange and wallet:
Anyone with basic programming knowledge can design an app and include it in the Play Store for download if he or she studies it for a while. Many people take advantage of this to create cryptocurrency wallets and exchanges that are completely false and only used to steal human data. And thus being able to get their private keys and access their crypto funds is able to get their private keys and access their crypto funds.

3. Hacking
This is a scammer's ability to break a large number of disciplined systems. The blockchain is where cryptocurrency is successful. Because blockchain cannot be hacked but the routes that lead to blockchain. This has become a cause of serious concern for the killers who are instrumental in the verification of cryptocurrency transactions.

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4. ICO fraud:
Most projects try to launch their stores through an initial coin offering and that is why investors are encouraged to invest through their website and those projects that do not have electricity distributed some tokens to the investors in the first place. It’s basically a way to market their tokens and raise funds for the projects involved. Most ICOs are quite risky and others are helpless, because you don’t know how good or bad this new token is. Most fraudsters invest their money from investor's, It does this to steal money from them. There are many reports of ICO schemes and some ICOs have been canceled at times. There are some areas where a currency is introduced through ICO and scammers go ahead to create cheap array duplicate tokens that attract ordinary people like us.

5. Crypto Pumps and Dumps:
This form is very common in the stingy market today, with about ten or more tokens being generated every hour. The makers of these stores use social media platforms like Telegram Email etc. to market their stores. Once holders when they pump at a much higher price. Then early on they make a lot of profit and others lose their investors.

6. Doubler scams (crypto investment):
Crypto scams are often seen in the form of investments as users are tempted by higher returns on investment, for example 100% ROI within 24 hours sounds very good to be true, yet It exists and if not taken care of it leads to total assets loss to the users. I was once the victim of such a scams when I first came across this crypto ecosystem. Back then I felt it was actually a fact of how a fraudster is an investor with all his money assets can be looted through tactics.

7. Fake Crypto Apps:
Crypto scammers set up applications with a name similar to the existing Crypto Exchange in the App Store, and users who are impatient to verify or Users follow all the steps given by the app to set up a new account completely before they know how to do this kind of verification until the download is finished and In this case, the user's funds may be lost.

My Research on Cryptocurrency Scams.

One example is the biggest fraud in history in the case of the Petro ICO scams which brought out about 5.9 billion USD and sources said it happened in Venezuela, An oil-backed cryptocurrency designed by the Venezuelan president although it was denied to keep oil reserves and when the currency was created to create value for Venezuelans, 100 million petros were emitted, which in my opinion is the biggest ICO fraud. Source
There was a lot of protest for such a big scams and Venezuelans are still suffering financially because of this huge ICO scams.

Cryptocurrency exchanges have always been a major target for fraudsters in the case of cryptocurrency scams and hacking. An example of this is the attack on Coincheck in 2018, where about 500 million USD and some NEM were snatched. It has been described as the biggest loot in history. The exchange declined to say how the scame happened but they were sure it was not an internal affair. CoinCheck’s accumulated customers rely on their soft wallet which is usually connected to an external internet network. And that's why exchanges now store most of their cryptocurrencies in cold wallets because they seem to have better benefits.

The NEM then decided to track their departed funds but the reality is that the system is decentralized and no one owns the wallet but strict security measures are still in place. Such as many signatures etc. but even then the investors ’funds went away. source
After many attempts though they were able to track their funds but were identified as stolen funds and they should be given access. And it was the biggest cryptocurrency theft yet, according to BBC News.

Q2. To what extent have Crypto scams affected the Crypto space?

Crypto scams have hit the ecosystem hard, such as expelling some investors from the system and intimidating newcomers.
They want to be indifferent to how catastrophic it will be for those who have lost their funds. Below we will discuss some of the points on how a cropped scam has affected space:

• Crypto scams has forced many investors out of the crypto ecosystem in a case where an investor loses his life savings in scams and this usually happens when proper risk management is not done.

• The irrevocability of the assets sent unknowingly by a counterfeit project is very frightening because since most of the project is managed in a decentralized manner, Users involved do not need a valid identity because not disclosing the name of the fund hangs with the investors and in that case it is not possible to recover the assets.

• After seeing so many crypto scames, some countries of the world are now following the rules related to cryptocurrency and in some cases there is a complete ban on crypto activities in the country to protect its citizens and
  And it has prevented many citizens from benefiting from it. For example, our Bangladesh government has kept the ban on cryptocurrency in mind for the sake of the citizens of Bangladesh.

• Investors who want to come into a little space are now afraid to do so after watching a series of crypto schemes, such as the fear of uncertainty and this has prevented their cryptocurrency from benefiting in a good way.

Q3. Will regulations in Crypto add value to the Crypto space?

Spontaneous growth in the crypto space has raised some concerns among regulators about the recent rise in crime rates, but a plan has been put in place to regulate the industry. Regulators are still skeptical about the impact of the regulation on cryptocurrencies. While some think that trading activities can become a less controlled system if they go beyond the limits, others believe that it will stimulate the market and Crypto will provide a clear view of the space.

From my own point of view the fight for cryptocurrency control has been going on for some time, Most countries are still trying to control cryptocurrency activities but then cryptocurrency is a unique technology it is decentralized and not controlled by anyone. In fact no one owns it and the transaction is saved in the block. The cryptocurrency is still in its infancy and there has been a lot of growth, however the rules would be perfect if it had to survive the test of time but the only goal of decentralization would be to bridge. Currently South Africa and many other countries such as cryptocurrency will regulate. The reason is that crime and scheme rates are increasing day by day. Although regulations may be able to regulate the market and some may combat these security and concerns but there can be no solution to the problem of theft. Now most of the skin is caused by the greed of investors who want to get rich quick and there they are also quickly deceived.

Conclusion:
Ultimately, cryptocurrency is a digital currency that operates in a decentralized system and so all trading is done online without knowing who you are trading with. Investors need to be careful how scammers do not damage our investments. The scheme is growing mostly targeting newcomers who do not know much about the system. We should also keep in mind that cryptocurrency is not a fast-paced platform and it has lost the livelihood of many investors and gone bankrupt as a result of keeping greed close. Investors need to give a kind of lecture to know what is available in the corrupt world because a lot of people come and jump without knowing what is in it.
So the regulation of cryptocurrency is a good way to fight against scammers but it may not give any good results. Investors have to play many roles to protect them from scammers such as seed phrases in their wallets.
Thanks for reading my homework task.