By Lucas Williams
There is no denying that the crypto world is full of high and lows ever since it came into existence. When bitcoin, which also happens to be the first-ever cryptocurrency, came to the forefront, people gained loads and loads of profits. However, as time passed, the profitability reduced and people started looking for other options. Fortunately, by the time the bitcoin boom was over, plenty of other crypto coins became available.
The availability of these coins meant that people had plenty of other options to invest in and gain monumental profits. With crypto becoming more and more popular by the day, it only seems realistic that there would be predatory people who would want to make profits off of other people’s success. Believe it or not, this is actually true. This is because there have been a large number of cases where people scammed or defrauded people and took away their crypto profits.
Unfortunately, there was very little security for crypto investors in the beginning, It is a major reason why they fell prey to a large number of scams and frauds. As you would expect, incidents like these did not sit well with them, which is why some people stopped crypto trading altogether. However, that is not the case with everyone as there are some people who continued their crypto trading endeavors despite the lack of security.
That being said, there have been some improvements in the worldwide crypto scene as far as security is concerned, One of the biggest reasons behind that is the involvement of various governments. Yes, governments are slowly but surely tightening their grip on how crypto is run and regulated. One of the main reasons behind that is to make sure that investors remain protected and can trade without any sort of worry.
There are plenty of people who are of the opinion that there should be no government involvement when it comes to crypto-related investments. However, if you take a look at the improvements that have happened recently, it would be easy to see why most governments and authorities are correct. One fop the biggest examples to back this up is the warrant issued by the African Police for the arrested of alleged crypto fraud.
According to a large number of reliable resources, this fraud happens to be in his late 20s and has scammed people off their profits. The fact that the South African police has been quite proactive with this case goes to show that the country’s government is indeed taking things seriously. While the culprit has not been caught yet, it is thought that he will be bought to justice quite soon.