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
Greece’s top administrative court has suspended the decision to extradite Alexander Vinnik, who is accused of laundering billions of dollars through a cryptocur...
Greek Court Suspends Decision to Extradite Alleged Crypto Criminal
Adrian Zmudzinski
2019-12-24T10:09:00+00:00
2347
News
Cyprus’ SEC recently flagged three investment platforms that look almost identical and falsely asserted ties to licensed firm BDSwiss.
Cyprus SEC Flags 3 Trading Platforms That Look Suspiciously Similar
Benjamin Pirus
2019-12-23T19:18:00+00:00
5493
News
The New York Southern District Court granted a continuance in the lawsuit against David Pike over his alleged link to the OneCoin Ponzi scheme.
New York Court Proceeds Against Man Allegedly Linked to OneCoin
Adrian Zmudzinski
2019-12-21T11:17:00+00:00
11660
News
Alleged $4 billion BTC launderer Alexander Vinnik to be extradited to France despite Russia’s multiple efforts to bring him to the country of his citizenship.
Russia Is Unhappy About Greece Extraditing Alleged Money Launderer Vinnik to France
Helen Partz
2019-12-20T17:07:00+00:00
4104
Market Update
The ghost of what has likely become one of the world’s biggest ponzi schemes lingers on for crypto traders amid claims of sell-offs manipulating Bitcoin price.
Is PlusToken Scam About to Dump ETH? $105M Moves to Unknown Wallet
William Suberg
2019-12-19T10:35:00+00:00
5546
News
A 19-year old U.S. resident has been indicted for identity theft as part of an alleged $1+ million cryptocurrency heist affecting at least 75 American victims.
19-Year Old Suspect Charged With $1 Million Crypto Heist via SIM-Swaps
Marie Huillet
2019-12-19T09:28:00+00:00
5229
News
A report from Kaspersky Lab suggests a growing fondness for prepaid debit cards among hackers, but it is too early to say whether Bitcoin is being left behind.
Bitcoin Scammers ‘Tired’ of Crypto as Focus Switches to Prepaid Cards
William Suberg
2019-12-18T10:07:00+00:00
3768
News
Two Canadian brothers hacked the account of a HitBTC user to steal 23 BTC in July 2018, but will now face sentencing for wire fraud.
HitBTC Scammers Face Two Years in Jail for $140K Bitcoin Twitter Fraud
William Suberg
2019-12-17T09:24:00+00:00
4602

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