Please note, this is a STATIC archive of website cointelegraph.com from 17 Oct 2021, cach3.com does not collect or store any user information, there is no "phishing" involved.

Bitcoin Scams News

Bitcoin scams (and other cryptocurrency scams) are an unfortunate aspect of this burgeoning industry. Bitcoin (BTC) was invented as an open, permissionless alternative to the traditional financial system, but with this freedom to transact beyond borders and central administration came opportunities for criminals to exploit this system. 

Legacy financial and monetary systems are certainly rife with scams, but victims are (usually) able to seek recourse and justice in the traditional banking system. Bitcoin, however, does not have insurance policies or a customer support line. 

Bitcoin scams can take many forms, including Ponzi schemes designed to enrich a few at the expense of many, cloud mining schemes promising accessibility and profitability in a centralized mining operation with little capability to deliver on either, and phishing scams designed to steal an unsuspecting individual’s cryptocurrency. 

As regulatory agencies are tasked to enforce frameworks that protect consumers, there is an important distinction between acknowledging and preventing scams within the Bitcoin ecosystem and classifying the cryptocurrency itself as a scam. 

News
North Korean hacking group Lazarus reportedly created an elaborate ruse to phish DragonEx exchange employees into installing a malware-infested trading bot.
Report: North Korean Hackers Created Realistic Trading Bot to Steal Money
Andrey Shevchenko
2020-02-05T12:06:00+00:00
4498
News
An international task force of French, Belgian and Israeli investigators brought down a fraud scheme responsible for stealing €6 million from French and Belgian...
Investigators Bust €6 Million Bitcoin and Gold Fraud Scheme
Andrey Shevchenko
2020-01-31T16:11:00+00:00
5321
News
Research by U.S. think tank Atlantic Council suggests that OneCoin leveraged fake reviews on TrustPilot and Quora to lure investors.
OneCoin Crypto Ponzi Scheme Used Fake Reviews to Improve Its Image
Adrian Zmudzinski
2020-01-29T09:54:00+00:00
6572
News
The lawyers for Alexander Vinnik, the alleged operator of defunct crypto exchange BTC-e, have filed a complaint alleging violation of Vinnik’s rights.
Vinnik’s Children File a Complaint About Rights Violation to Greek Court
Helen Partz
2020-01-20T16:42:00+00:00
3195
News
A Canadian teenager has been charged with participating in a crime ring that stole over $50 million in cryptocurrencies, targeting Consensus 2018 attendees.
Canadian Teen Charged for $50 Million Cryptocurrency Theft
Andrey Shevchenko
2020-01-20T14:42:00+00:00
8993
News
Over 5,000 victims of the alleged crypto pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam.
Ugandan Victims of Dunamiscoins Scam Petition Gov’t for Lost Investments
Helen Partz
2020-01-17T20:16:00+00:00
3384
News
The U.S. SEC has charged Boaz Manor and his associates with raising over $30 million through a fraudulent initial coin offering.
US SEC Charges Convict and Associates for $30M Fraudulent ICO
Ana Alexandre
2020-01-17T17:01:00+00:00
4026
News
A human rights lawyer representing victims of an alleged cryptocurrency pyramid scheme in Thailand is taking their case to the country’s Department of Special I...
Thai Officials to Investigate Alleged Cryptocurrency Pyramid Scheme
Marie Huillet
2020-01-16T11:17:00+00:00
3164

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