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Professional standards in an industry that handles user funds

I am probably one of the most openly pro-crypto people you will find, but being pro-crypto does not require pretending that this industry is professionally mature.

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Die Originalbeiträge sind auf Englisch. Die Navigation ist in sieben Sprachen verfügbar.

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I am probably one of the most openly pro-crypto people you will find, but being pro-crypto does not require pretending that this industry is professionally mature.

Large parts of it are still run by clowns, opportunists and people with almost no technical, security or operational background.

In most serious industries, managing infrastructure that controls millions would require experience, governance, independent oversight and accountability.

In crypto, almost anyone can call themselves a founder, CEO or protocol lead, raise absurd amounts of money and deploy systems they barely understand.

I see firsthand that real expertise is rarely valued until something has already gone wrong.

Just look at the colossal idiots with the largest followings in this industry. That alone tells you almost everything about what this space rewards.

Projects are happy to collect money, sell tokens, charge fees and promote grand ideas about financial independence, but many suddenly become reluctant when it is time to spend money on security, research, audits or competent people.

The promise of financial freedom becomes a farce when users carry nearly all the risk while founders treat prevention as an optional expense.

The incentive structure is just as broken on social media.

Almost every moderately large X account appears capable of extracting money from this industry through paid promotions, affiliate deals, token allocations, advisory titles or sponsored visibility.

Meanwhile, the people doing some of the most necessary work, investigating scams, identifying vulnerabilities, educating users and preventing losses, often receive almost nothing.

Their work is apparently not valuable until millions have disappeared and everyone suddenly demands answers.

That is also why I have largely stopped covering post-mortems of hacks, drains and exploits.

These posts often generate some of the highest views and interactions and would probably be better for payouts, but documenting the wreckage after the money is gone rarely changes anything.

The victims change, the contracts change and the headlines change, yet the underlying failures remain almost identical.

I will still investigate specific cases when someone genuinely needs help and is prepared to compensate the time, research and responsibility involved.

Beyond that, I believe prevention, education and explaining how these attacks actually work or even token/coin checks my team is doing for the community is far more valuable than producing another dramatic thread about funds that have already disappeared.

People need to understand how malicious approvals, compromised front ends, weak operational security, poor key management, unaudited contracts and reckless deployment practices turn into losses.

Crypto claims to represent a better financial system, yet it routinely spends more on marketing than security, more on shillers than researchers and more on manufactured attention than on protecting the people whose capital keeps the entire industry alive.

Until that changes, exploits will not be rare accidents.

They will remain the predictable outcome of an industry that rewards promotion immediately and competence only after the damage is done.

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