[Dangeranger]

Irreversible transactions mean irreversible fraud. How does crypto solve for that?

The solution here is to go to court, or more likely arbitration on this case.

Crime continues to be part of business, you must account for it in your use cases, or you will get caught off guard.

[hbbio]

You're both right.

Irreversible transactions by default seem a good thing.

Court/arbitration is the right way when things go wrong.

[wpietri]

Exactly. This is a great example of where cryptocurrency has a relative advantage. If I'm looking to defraud, I'll prefer to do it via cryptocurrency because once I have the money, it's hard to get it away from me. That helps explain why fraud is so common in that space.

It's easy to see that cryptocurrency is a big reason ransomware has spiked in recent years. I suspect the same is true for other sorts of financial crime. I'd love to know how much. But it's surprisingly hard to do a telephone survey where you ask people about their criminal choices, so I expect I'll never know.