CRIMES involving virtual money, or cryptocurrencies, are on the rise, and victims in Malaysia are suffering bigger losses to scammers and cybercriminals.

From RM4.9mil in 2019, the total amount of losses from victims have more than tripled to RM18.3mil as of September this year, based on police statistics made available to Sunday Star.

For the past three years, a total of 500 investigation papers were opened to probe these incidents.

Each year, more cases are reported, with the number of investigation papers rising from 131 in 2019 to 225 as of September this year.

The most common type of crime involving cryptocurrencies are scams that deal with buying and selling these digital currencies.

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Cases usually happen when victims pay the suspects to buy cryptocurrency but do not get anything in return, says Bukit Aman Commercial Crime cryptocurrency crime investigation unit officer, Asst Supt Nur Adli Md Saari.

In such cases, victims transfer their money to the suspects bank account but do not receive any cryptocurrency.

There are also victims who pay using cryptocurrency to the suspects e-wallet or cryptowallet in exchange for another currency, but also end up with nothing.

Another top type of crime is fraudulent investment schemes, where scammers entice victims to make investments with alleged high returns by using such digital currencies as the medium.

The victims then realise they have been conned after failing to receive the promised returns or when they discover that the scheme is fake.

These cases are investigated under Section 420 of the Penal Code for cheating, explains ASP Nur Adli.

Under this section, those found guilty can be punished with a jail term of between one and 10 years, whipped and fined.

Other types of crimes involving cryptocurrencies are cryptowallet hacking, cryptomining scams, ransomware and fraudulent initial coin offering.

ASP Nur Adli was a speaker at a forum called The Crypto Talk, organised by the Centre Of Digital Assets Malaysia (Codam) at Kuala Lumpur.

Codam is a private centre that aims to train and educate more Malaysians especially the younger generation on blockchain technology and cryptocurrency.

For the uninitiated, cryptocurrency is a form of virtual currency that can be used to buy goods and services.

Its secured by cryptography to prevent double-spending or counterfeit, and made possible by blockchain technology, which is a decentralised ledger of all transactions across a peer-to-peer network.

As such, these digital currencies are not issued by any central authority.

Currently in Malaysia, cryptocurrencies such as Bitcoin and Ethereum are not regulated by the government.

Bank Negara Malaysia has stated that digital currencies are not legal tender here meaning, it cannot be legally accepted for the exchange of goods or services in Malaysia.

However, the Securities Commission has considered digital assets like cryptocurrency as securities under its laws.

Victims lack knowledge

On why crimes involving such virtual money are on the rise, ASP Nur Adli says there is now more interest and involvement among the people in cryptocurrency in Malaysia.

But cases happen when consumers lack proper knowledge about the trade and how it works.

Nevertheless, the police are planning to beef up the fight against such crimes.

ASP Nur Adli says the polices cryptocurrency crime unit, which was set up in 2018, will be expanded to boost efforts in cracking down on such cases.

The unit is currently run by a team of 17 officers divided into two zones to cover the entire Malaysia.

At times, we face challenges because the technological landscape changes and evolves very rapidly.

There are also some limitations in getting more information or cooperation from cryptocurrency exchangers based in other countries, he adds.

Malaysia Cyber Consumer Association president Siraj Jalil says the low literacy about the nature of cryptocurrencies among Malaysians allows such crimes to increase.

Many Malaysians misunderstand the fundamentals of cryptocurrencies and as a result, they become the target of scammers who exploit that weakness.

For instance, many people today still think that Bitcoin is some kind of a scheme, and one has to join or become a member in such schemes in order to get high returns from their investment.

There is no such thing as joining a scheme or buying from a middleman to acquire your own crypto since there are many exchangers available in the market where one can convert their fiat (money) to cryptocurrency by themselves, he says.

The fact that transactions are all done online makes it harder to prove a crime or produce evidence, especially when involving cash in hand, Siraj adds.

The SC has registered four Recognized Market Operators (RMOs) to establish and operate digital asset exchanges (DAX) in Malaysia.

Entities which have not been approved by the SC are required to cease all activities.

The updated list of RMOs can be found on https://www.sc.com.my/regulation/guidelines/recognizedmarkets/list-of-registered-digital-asset-exchanges.

To avoid being a victim of cryptocurrency scams, ASP Nur Adli advises the public to use the platforms registered under the SC.

Avoid buying peer-to-peer cryptocurrency from individuals whom you have not met before or have found on social media like Telegram, Facebook and Instagram.

Buy only from licensed DAX, he says.

He also advises the public not to be deceived by cryptocurrency investment schemes that promise multiple-fold returns.

Always do your own research or consult experts if you wish to invest in a newly launched cryptocurrency, he adds.

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Spike in cryptocurrency crimes - The Star Online

The Bitcoin white paper doesnt mention the word decentralization once but its obviously there by another name: peer-to-peer. The Ethereum white paper mentions decentralization about 40 times. And when the Presidents Working Group on Financial Markets (PWG) released its report on stablecoins last month, 15% of it was dedicated to the concept of decentralization and how to appropriately manage it when most of financial services remain heavily centralized (and analog).

Decentralization is one of the more hard-to-define words in an industry filled with confusing neologisms. It seems to describe a simple concept: activity that isnt organized by a central authority. But defining it, and why it matters, and how to regulate it, isnt so simple. Getting these answers right will have significant implications for the future of the digital asset economy.

Jared A. Favole is a senior director of communications and policy at Circle, the principal operator of USD Coin (USDC).

As a starting point, policymakers should get comfortable with the idea that some projects will be fully (or close to it) decentralized. The industry needs to avoid advocating only for projects that are 100% decentralized that brings to mind for some, particularly regulators, the idea of runaway code. And the last thing anyone wants with their money is for it to run away.

Decentralization and centralization operate on a spectrum: Theres decentralized autonomous organizations (DAOs) on one side and centralized entities on the other side (Coinbase, for example) that benefit from decentralized technology. Both forms of organizing can, will and must coexist for us to realize the full potential of blockchain and crypto technologies.

Decentralization or the degree of decentralization has important technical, marketing and legal implications.

Decentralization is great. The continued existence of Bitcoin, even in the face of crypto bans by nation states, speaks volumes about the power of decentralization (and public-key cryptography). Its something to marvel at and cumulatively it has given rise to a now $2+ trillion asset class.

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But Bitcoin, and decentralization, have drawbacks. For example, making changes in decentralized systems is often difficult and slow.

From a marketing perspective, decentralization can help attract developers who scoff at the idea of using their talents to help another centralized entity amass power. That power-to-the-people approach runs deep in crypto, which isnt surprising because many in the industry had to suffer through the consequences of the Great Recession, infamously with the downfall of large, centralized financial institutions.

The legal importance of decentralization became clear a few years ago, when securities regulators suggested bitcoin and ether arent subject to securities regulation partly because the networks they run on are sufficiently decentralized.

Projects have since strained to demonstrate their decentralization by setting up foundations or separate legal entities. The thinking of some founders goes something like this: If our project is sufficiently decentralized then the activity isnt subject to securities regulation. Perfect!

But the government isnt fooled. The PWG report stated:

In some cases, despite claims of decentralization, operations and activities within DeFi are highly concentrated in and, governed or administered by, a small group of developers and/or investors. Despite some asserted distinctions from more traditional or centralized financial products, services and activities, DeFi arrangements often offer the same or similar products, services and activities, and raise similar investor and consumer protection, market integrity and policy concerns.

If projects are dishonest about their level of decentralization, that casts a shadow on the projects that truly are decentralized. Its worth noting, too, that centralization has benefits. When people assemble in a centralized way, be it at a company or a sports team, they can do great things, while also producing single points of failure, cabals or monopolies.

The future success of blockchain and crypto technologies doesnt need to rely upon 100% decentralization. In fact, the industry is so successful today because it is built on the back of decentralized technologies AND centralized organizations. Much like the debate about artificial intelligence, which often pits man vs. machine instead of acknowledging the real power comes when man AND machine work together, meaningful innovation in crypto often comes when centralized entities work with decentralization.

For example, venture capital firms like a16z and Digital Currency Group, crypto companies like Coinbase and FTX, and media companies like The Wall Street Journal and this publication, have all played an important role in popularizing decentralized technologies.

Missing from the list of centralized entities that can help or harm the industry are governments. Governments are the missing link to help blockchain and crypto technologies continue to grow.

For one, there are many people who wont touch crypto because for them it lacks the imprimatur of the government; the U.S. Securities and Exchange Commissions (SEC) continued rejection of spot bitcoin exchange-traded funds reinforces this. The same holds true for many banks, insurance companies and pension funds.

Governments also have the authority to crack down on, limit or outright ban certain activity. Much of the industry is waiting for the SEC, for example, to yet again flex its regulate-by-enforcement approach.

Fortunately, the U.S. has more experience and is more comfortable with decentralization than most countries.

The debate about decentralization isnt new especially in the U.S. Our founders struggled with whether to centralize power at the federal level or to devolve more power to the states, and how much power to give people. Federalism and technological decentralization are different, but they spring from the same dilemma: whether to concentrate power in the few or the many. Bitcoin, as noted above, is slow and difficult to change because its so decentralized. So is democracy. Policymakers still struggle with this concept: Look no further than how the U.S. is approaching regulating stablecoins.

Stablecoin issuers, and many payment companies we all use daily, are regulated at the state level via money transmission licenses. But because stablecoins have grown exponentially, and show little signs of slowing down, the federal government seems to have decided that more centralized regulation is the best approach. But state regulators arent ready to cede that point. This was clear when the organization that represents state banking regulators responded to the PWG report by emphasizing states experience supervising stablecoin issuers.

States have always been labs of innovation, particularly as they relate to how to best organize economic activity. Wyoming, for example, has led the charge by becoming the first state to recognize decentralized autonomous organizations (DAOs) as limited liability corporations. It will be years before we recognize the full benefits of that decision. And, in a unique twist that highlights how centralized and decentralized entities will need to work together, DAOs have to be domiciled in Wyoming to enjoy the benefits of the new law.

The struggle for how to best balance centralization versus decentralization is at play in another way, too. China has decided to launch its own Central Bank Digital Currency (CBDC), a digital version of the yuan, prompting envy from some U.S. government officials who think the U.S. should have its own CBDC.

But why launch a CBDC when, without one even existing, privately issued stablecoins have gained market traction and helped cement the U.S. dollar as the reference asset for the entire digital asset economy?

How you answer that question says a lot about what you think about decentralization. None of the major dollar-referenced stablecoins are fully decentralized. But surely stablecoins are more decentralized than a CBDC would be and already play an essential role in facilitating decentralized economic activity.

This is just one example of the tradeoffs the industry and governments have to balance in the coming months and years. Regulators, too, clearly have their work before them: What innovations will they deploy to oversee decentralized organizations? If there isnt a central organization whose door they can knock on when they want to enforce the law, what will they do? I admittedly dont have the answer.

But what is clear is that advocating for only 100% decentralization or only 100% centralization will harm innovation.

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It Cant Be Decentralization or Bust - Yahoo Finance

Cryptocurrencies are gaining massive momentum lately with new investors entering the market almost every day

Cryptocurrenciesare all in rage these days, particularly with speculative investors. What earlier used to be a fringe investment is now in the front and centre of the financial revolution. Even top international and national press institutions keep a close eye on the daily movements of the crypto coins and other digital currencies. Bitcoin, being one of the most popular currencies is recognized and trusted by almost everyone. But new investors are always looking for affordable andcheap cryptocurrenciesto invest in. Keeping in mind that the crypto market is considered to be extremely volatile, these investors hesitate to risk it all the first time. So, in this article, we have listed thetop affordable cryptocurrencies investors can buy before it explodes in 2022.

XRP is an open-source cryptocurrency that uses an open-source distributed ledger called the XRP ledger. It is the native coin of Ripple, which is an enterprise blockchain company that facilitates global transactions. The creators claim that XRP was built for payments and can settle transactions faster than most other cryptocurrencies securely and efficiently.

Cardano is a research-based cryptocurrency built by engineers, mathematicians, and cryptography experts. It is open-sourced and decentralized, with consensus achieved using proof-of-stake. It can also facilitate peer-to-peer transactions with the ADA token.

According to its creators, the DOT token primarily serves three main purposes, which include providing governance for the network, operating the network, and creating parachains by bonding Polkadot tokens. The crypto has roughly gained 468% this year and continues to remain an affordable cryptocurrency with great potentials for 2022.

Dogecoin originated something out of a joke, but it quickly became quite real for those who are profiting from it. The current DOFE price is about 4,889% higher since the beginning of the year. Along with its success and affordability DOGE makes a lucrative career option. Earlier this year, DOGE rose to prominence after Musks tweet, which reassured his support towards this crypto, enabling it to gain real profits.

Shiba Inu is another meme cryptocurrency that is also one of the biggest rivals of Dogecoin. Despite its whimsical beginnings, SHIB has managed to gather a growing and faithful community, which is also one of its biggest selling points. The community has also created an NFT project around SHIB that has enabled it to gain more attraction from investors.

Avalanche is an Ethereum competitor that facilitates decentralized applications and the creation of custom blockchains on its ecosystem. Also, quite recently AVAX reached a record high value, overtaking several major cryptocurrencies. Although it is launched in 2020, Avalanche has shown great potential to grow.

Terra is one of the newer cryptocurrencies that is making headlines due to its recent successes. Just like Avalanche, Terra jumped over several cryptos in a single day and achieved a position among major cryptos for a short while. Experts believe that LUNAs recent launch of the Columbus-5 upgrade, the protocols upgrade to the IBC standard that opens up Terra to the Cosmos ecosystem, and the increase in DeFi applications have led to the recent growth of the crypto.

Polygon Matica is a framework and a protocol for building and connecting Ethereum-compatible blockchain networks which aggregate scalable solutions on Ethereums supporting ecosystem. Polygon creators have broadened their vision and reach by updating their system and bringing in metaverse designs and integrating the MATIC Plasma chain.

VeChain is the currency of the VeChain Thor blockchain, and it is considered the perfect choice for investors who want to invest in affordable, yet potential cryptocurrencies. VeChain facilitates the management of supply chains and other business processes.

Decentraland is the token behind an Ethereum blockchain-based virtual reality game by the same name. The crypto has been described as a 3D virtual world where users buy land on which to develop and monetize content, buy goods and services and visit other properties.

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Top 10 Cheap Cryptocurrencies to Buy Before it Explodes in 2022 - Analytics Insight

About the position

At the Department of Information Security and Communication Technology we have a vacancy for a PhD Candidate in the topic of Multi-User, Multi-Device, and Multi-Service Coordination in a Digital Homecare Environment.

For a position asaPhD Candidate,the goal is acompleted doctoral education up toan obtaineddoctoral degree.

The position's working place is NTNU campus in Gjvik.

You will report to the Head of the Department.

Duties of the position

The PhD candidate will work on challenging research problems related to technical coordination of an open homecare environment with its cybersecurity context when the hospital-centralized healthcare services are migrating towards municipality and home oriented future services. This includes research on (1) abstracting cybersecurity threats and defense models for a complex and open homecare environment, and (2) developing efficient technical and non-technical security and privacy controls in order to structure the open healthcare environment in a trusted way including protecting the users privacy in a multi-sensor context.

Other duties include:

Required selection criteria

The appointment is to be made in accordance with the regulations in force concerningState Employees and Civil ServantsandRegulations concerning the degrees ofPhilosophiaeDoctor (PhD)andPhilosodophiaeDoctor (PhD) in artistic researchnational guidelines for appointment as PhD, post doctor and research assistant

Preferred selection criteria

Personal characteristics

We offer

Salary and conditions

PhD candidates are remunerated in code 1017 and are normally remunerated at gross from NOK 491 200 per annum before tax, depending on qualifications and seniority. From the salary, 2% is deducted as a contribution to the Norwegian Public Service Pension Fund.

The period of employment is 3years.

Appointment to a PhD position requires that you are admitted to the PhD programme in Information Security within three months of employment, and that you participate in an organized PhD programme during the employment period.

The engagement is to be made in accordance with the regulations in force concerning State Employees and Civil Servants, and the acts relating to Control of the Export of Strategic Goods, Services and Technology. Candidates who by assessment of the application and attachment are seen to conflict with the criteria in the latter law will be prohibited from recruitment to NTNU. After the appointment you must assume that there may be changes in the area of work.

The position is co-funded by the two RCNs IKTPLUSS projects Health Democratization and DigiRemote, RFF-Innlandet research project Internet of My Things, and NTNU Department of Information Security and Communication Technology. The position is also supposed to contribute to the SFI NORCICS in the task of Distributed Care Demonstration.

It is a prerequisite you can be present at and accessible to the institution daily.

About the application

The application and supporting documentation to be used as the basis for the assessment must be in English.

Publications and other scientific work must follow the application. Please note that applications are only evaluated based on the information available on the application deadline. You should ensure that your application shows clearly how your skills and experience meet the criteria which are set out above.

The application must include:

Joint works will be considered. If it is difficult to identify your contribution to joint works, you must attach a brief description of your participation.

In the evaluation of which candidate is best qualified, emphasis will be placed on education, experience and personal suitability.

If all,or parts,of your education has been taken abroad, we also ask you to attach documentation of the scope and quality of your entire education, both bachelor's and master's education, in addition to other higher education. Description of the documentation required can befoundhere. If you already have a statement fromNOKUT,pleaseattachthisas well.

NTNU is committed to following evaluation criteria for research quality according toThe San Francisco Declaration on Research Assessment - DORA.

General information

Working at NTNU

A good work environment is characterized by diversity. We encourage qualified candidates to apply, regardless of their gender, functional capacity or cultural background.

The city of Gjvikhas a population of 30 000 and is a town known for its rich music and cultural life. The beautiful nature surrounding the city is ideal for an active outdoor life! The Norwegian welfare state, including healthcare, schools, kindergartens and overall equality, is probably the best of its kind in the world.

As an employeeatNTNU, you must at all times adhere to the changes that the development in the subject entails and the organizational changes that are adopted.

In accordance with The Public Information Act (Offentleglova), your name, age, position and municipality may be made public even if you have requested not to have your name entered on the list of applicants.

If you have any questions about the position, please contact Associate ProfessorBian Yang,telephone +47 61135486, email bian.yang@ntnu.no. If you have any questions about the recruitment process, please contact Katrine Rennan e-mail: Katrine.rennan@ntnu.no

Please submit your application electronically via jobbnorge.no with your CV, diplomas and certificates. Applications submitted elsewhere will not be considered. Diploma Supplement is required to attach for European Master Diplomas outside Norway. Chinese applicants are required to provide confirmation of Master Diploma fromChina Credentials Verification (CHSI).

If you are invited for interview you must include certified copies of transcripts and reference letters. Please refer to the application number2021/60466when applying.

Application deadline: 10.01.2022

NTNU - knowledge for a better world

The Norwegian University of Science and Technology (NTNU) creates knowledge for a better world and solutions that can change everyday life.

Department of Information Security and Communication Technology

Research is vital to the security of our society. We teach and conduct research in cyber security, information security, communications networks and networked services. Our areas of expertise include biometrics, cyber defence, cryptography, digital forensics, security in e-health and welfare technology, intelligent transportation systems and malware. The Department of Information Security and Communication Technology is one of seven departments in theFaculty of Information Technology and Electrical Engineering.

Deadline10th January 2022EmployerNTNU - Norwegian University of Science and TechnologyMunicipalityGjvikTrondheimScopeFulltimeDurationTemporaryPlace of serviceNTNU Campus Gjvik

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PhD Position in Multi-User, Multi-Device, and Multi-Service Coordination job with NORWEGIAN UNIVERSITY OF SCIENCE & TECHNOLOGY - NTNU | 275352 -...