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. 

Follow up
Bitcoin scam ads featuring Martin Lewis appear on Instagram less than a year after Lewis settled a defamation suit with Facebook.
More Bitcoin Scam Ads With Martin Lewis on Instagram — Can We Get a Filter for That?
Osato Avan-Nomayo
2020-01-16T02:00:00+00:00
5542
News
CipherTrace launched a program to provide students with tools and analytics to detect and combat crypto scams.
Analytics Firm Training Students to Detect Cryptocurrency Scams
Rachel Wolfson
2020-01-13T14:19:00+00:00
3550
News
The allegedly North Korea-sponsored hackers known as Lazarus have deployed new viruses to steal cryptocurrency.
North Korean Hacker Group Modifies Crypto-Stealing Malware
Adrian Zmudzinski
2020-01-09T13:14:00+00:00
3333
News
Two directors of Dunamiscoins, an alleged cryptocurrency pyramid scheme in Uganda, appeared before court on Monday to face 65 counts tied to obtaining money by ...
Directors of Alleged Crypto Pyramid Scheme Dunamiscoins Stand Trial
Marie Huillet
2020-01-08T10:37:00+00:00
2418
News
The CFTC is having trouble locating a man allegedly responsible for a cryptocurrency Ponzi scheme worth over $140 million.
CFTC Cannot Locate Man Responsible for Over $140 Million Crypto Ponzi
Adrian Zmudzinski
2020-01-07T15:40:00+00:00
6608
News
Fake Martin Lewis Bitcoin scam ads have been spotted on Instagram after Lewis settled a defamation lawsuit against Facebook in 2019.
Bitcoin Scam Ads Featuring Martin Lewis Now Spotted on Instagram
Helen Partz
2020-01-07T13:42:00+00:00
3932
New Year Special
There were 12 major cryptocurrency exchange hacks in 2019. In total, over $292 million and over 500,000 pieces of customer data were stolen.
Most Significant Hacks of 2019 — New Record of Twelve in One Year
Patrick Thompson
2020-01-05T13:32:00+00:00
9785
News
The North American Securities Administrators Association says cryptocurrency investment schemes are one of the top investor threats in 2020.
Securities Regulator Says Crypto Investments Are Top Investor Threat in 2020
Helen Partz
2019-12-24T12:49:00+00:00
7780

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