Blockchain investigators shared that a new wave of crypto-related scams is driven by political meme coins, weak regulation, and dropped legal cases.
On June 19, ZachXBT shared on X that dishonest behavior in the industry is a concern, as public figures and influencers who promote questionable projects often face no consequences.
He noted that some crypto creators can mislead followers and still avoid any real punishment.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is Defi 2.0? (Explained with Animations)
Still, ZachXBT pointed out that there is a difference in how certain actions are treated. More direct forms of theft, such as phishing, wallet hacking, or online robbery, are still likely to bring legal trouble.
He explained that, compared to gray-area activities like misleading promotions, clear-cut crimes are more likely to be punished.
He also said regulators have often focused on the wrong targets. Rather than pursuing projects that hide paid promotions or mislead buyers, officials have instead spent time investigating open-source developers and established platforms.
Another investigator, Taylor Monahan, shared in a June 18 post on X that bad actors in crypto are unlikely to stop as long as they can make money quickly and face few consequences.
Monahan also mentioned that many long-time scammers have made major profits using methods such as fake online relationships, malware, or even tools linked to nation-state hackers. She said that if crypto ceased to exist, ransomware groups would take the biggest hit.
On June 10, Bitget
$2.99B
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
