It should be noted that there are still plenty of fraudsters in the cryptocurrency industry. In particular, a new scammer idea was revealed today on social platform Reddit. They are sending out emails that talk about allegedly withdrawing a large sum in bitcoins from the notification recipient’s wallet. As a result, they offer to click on the offered link and log in to see the details of the transfer.

A new cryptocurrency scam

What happens after following the link is unknown. Perhaps, the recipient will be asked to enter their data to log in to the online wallet, or even enter a mnemonic phrase from a full-fledged non-custodial wallet. You also can’t rule out the possibility of malware, which will change the recipient’s address when sending the crypto.

Either way, there’s not much to like here, so it’s best to steer clear of such offers.

How to make crypto industry better?

Robins shared his thoughts in a recent podcast from news platform Decrypt. Here are his lines in which he shares his vision of what’s going on.

The types of things we need to become mainstream are in direct contradiction to decentralisation. If you don’t have some kind of centralised control, it’s hard to protect people from themselves.

Protecting people in this case refers to the activity of hackers and crooks who put a lot of effort into stealing other people's assets. As proof of their danger, we can cite this list from the Rekt platform. It compiles the most "lucrative" hacks of blockchain platforms for fraudsters. As you can see, the first nine on the list have more than $100 million in losses.

List of hacked crypto projects

In other words, sometimes there is no option but to “subjugate” part of the industry to centralisation. Unfortunately, even experienced crypto-investors are now sometimes falling victim to trivial fraudulent tricks. But at the same time, the crypto community is full of maximalists who are only willing to stick to full decentralisation. Robins acknowledged this fact.

I know maximalists won’t like it. But there has to be some element of centralisation that will enable some of the things that are important for the mass adoption of blockchain technology?

So the expert thinks there is supposedly no other option here. We believe that hacks and other unpleasant situations with blockchain platforms are the costs of the newness of the digital asset industry. And cryptocurrency centralisation is enough as it is: the various exchanges and wallets are centralised, because they do not provide users with private keys to the addresses where their money is.

DraftKings CEO Jason Robins

Note that DraftKings has been an active player in the NFT token market for the past year. Robins and two other co-founders Matt Kalish and Paul Lieberman joined the advisory board of popular footballer Tom Brady’s NFT platform called Autograph. DraftKings has also launched a platform to sell unique tokens.

DraftKings

DraftKings Robins is noteworthy, and not just because he has built a successful public company. He also has a wealth of regulatory experience – an obstacle that cryptocurrency founders have come to know well lately. He once led DraftKings through a chain of problems because of politicians who were hostile to the platform concept. Accordingly, his remarks could, in theory, prove useful to someone within the niche.


We believe that an active rejection of decentralisation is trivially inappropriate in this area. Yet Bitcoin in its early days worked well in the absence of centralized players in the blockchain market, while today there are more than enough centralized exchanges and other services. In addition, fraudsters will be able to operate even in an environment of total centralisation, as newcomers will still be able to send their assets off exchanges in the expectation of "getting more coins in exchange".

So it's not the sphere that needs centralisation, but people should add to their baggage of knowledge so that they don't fall for the tricks of crooks. Experienced members of the cryptocurrency world don't have much trouble recognising a scam.


What do you think about it? Share your opinion in our millionaires cryptochat. There, we’ll talk about other topics that affect the crypto world in one way or another.