If I took $100 cash from you under false pretense, it would be a crime and I would be prosecuted for it. I would also have to expose myself by interacting with you. If I trick you with a fake login page and steal all your shit from your crypto wallet, then according to the blockchain that’s just fine, and I can do it completely anonymously from the other side of the planet with 0 hope for anyone to do anything about it. I had access to the tokens, so I can do anything I want with them and no one can stop me, reverse it, or even find me. That’s the issue.
Every crypto bro I’ve talked to has said some version of “well don’t get scammed then”, which is such a fucking stupid and asinine answer. Every financial system has consumer protections except for crypto because they are 100% necessary for normal people to survive.
If I took $100 cash from you under false pretense, it would be a crime and I would be prosecuted for it. I would also have to expose myself by interacting with you. If I trick you with a fake login page and steal all your shit from your crypto wallet, then according to the blockchain that’s just fine, and I can do it completely anonymously from the other side of the planet with 0 hope for anyone to do anything about it. I had access to the tokens, so I can do anything I want with them and no one can stop me, reverse it, or even find me. That’s the issue.
Every crypto bro I’ve talked to has said some version of “well don’t get scammed then”, which is such a fucking stupid and asinine answer. Every financial system has consumer protections except for crypto because they are 100% necessary for normal people to survive.