If blockchain allows this, how is it not worse than the current system? This is a massive portion of all crypto transactions

FBI: Americans aged 60 and older reported losing almost $3 billion to crypto fraud last year. In total, Americans reported being scammed out of around $9.3 billion via crypto, out of a total $16.6 billion in total reported losses that year. https://t.co/xupom9DeUn

Molly White

If blockchain allows this, how is it not worse than the current system? This is a massive portion of all crypto transactions https://x.com/molly0xfff/status/1915148232574804193?s=46

Reporter at Drop Site News, co-host at Breaking Points/Counter Points

1. The regular system eclipses this by several orders of magnitude. Just two days ago helped someone who bought 4 $500 Apple gift cards for a scammer - how is Apple allowed to operate allowing scammers to profit like that?

2. Were they actually *crypto* scams, or were they regular fiat scams that falsely offered crypto riches? Not clear how those two are reported on differently.

3. Even if a custodial system were empirically better than a self-sovereign system (and it just isn’t), it would STILL be better/faster/cheaper/safer/more efficient to build that custodial system on top of crypto.