On the surface $1.7b feels like an awful large amount of fraud relative to the total market cap of crypto. Raw numbers of course are larger for both credit card and investment fraud, but those markets run into the trillions. As a means of transaction if my credit card is fraudulently used max I owe $50 and probably $0. If something nefarious happens to one of my brokerage accounts, same protections.

In light of this I fail to see how crypto is anything except a step back in all but the narrowest of uses.



Cryptocurrencies: 2122 • Markets: 15594 • Market Cap: $116,527,838,015

https://coinmarketcap.com/charts/



https://www.creditcards.com/credit-c...stics-1276.php
https://thecollegeinvestor.com/1944/...estment-scams/