RE: Crypto crime reports by Chainalysis and CipherTrace reveal the workings of the hacker mind today
Very informative.
Let me just say that KYC is worthless if the data is not handled properly and is checked somehow. Today it is not hard to get fake details and fill KYC - like send them your ID - passport/drivers licence. What KYC should include is also a video talking with their support live and to check their data somehow. Because even by talking live the user can hide his identity by doing good makeup etc. So KYC should have more tighten rules in my opinion.
Because we are in bear market number of scams/hacks has fallen but as soon as the market picks up again we are going to see more of them for sure. Many people want the quick rich fast and this is one of the top reasons why people fall easily on these scams.
To mix coins you just need to find an broker/exchange that has not blacklisted your address and to trade coins for privacy focused crypto such as XMR and you are good to go as you can say the coins are clean.
I agree but we need to start somewhere. Your suggestion for video call KYC sounds like a great solution but very time consuming and labor intensive to be quite frank. There would need to be people diligently going through those videos 24/7 in order to provide a reasonably accurate and fast confirmation. It will take many years till AI advances to the point where it will be able to handle such a task. In the mean time humans will have to do it and I imagine it would be a painstakingly boring task rare individuals would bare want to do.
I would dare to say that most people involved in crypto want to get rich quick before they get hit by the reality check brick in the face. Nevertheless, those who are in it to win it are here to stay for a long time, those that aren't will only be hurt by their plagued mentality.