The Crypto Cringe: Why Most People Still Avoid Crypto Currency

Crypto still makes most of us cringe, should it?  Whether you’re a fan or are shying away from it, the crypto ecosystem is expanding rapidly. Part of what is causing many to spurn crypto is due to reputational issues. These include the prevalence of crypto-themed fraud and vulnerability to hacking, which make many retail investors uncomfortable and are keeping some people away. At the same time crypto adoption is expanding, the regulatory and enforcement environment has become more relaxed. This confluence is opening increased opportunities for innovation but is also creating opportunities for a wide range of fraud schemes ranging from meme coin scams to sophisticated market manipulation.

Some of the most egregious examples of crypto fraud continue to be addressed by law enforcement, but civil enforcement by victims and other private parties is equally important in addressing crypto fraud and holding crypto criminals accountable to their victims. It is also important to remember that criminal investigations’ primary objective is to punish those responsible. Making victims whole is secondary and is not a foregone conclusion. Civil litigation can fill that void by seeking recovery for victims of pig butchering scams, crypto project rug pulls, and institutional investment schemes such as those involving crypto startups that failed to execute.

In a recent episode of the #FraudEatsStrategy podcast, I spoke with Tim Treanor and Arlo Devlin Brown, co-founders and Managing Principals of the boutique law firm, Treanor Devlin Brown PLLC about how many individuals and institutional investors are still shying away from crypto currency as an alternate form of payment or investment opportunity, and the types of crypto fraud they have been seeing in their practice that people should be aware of.

To watch / listen to the full discussion, click here.