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
U.S. authorities have charged a New York man with wire fraud for scamming users in a digital currency scheme dubbed Igobit.
New York Resident Indicted for Crypto Scam, Charged With Wire Fraud
Joeri Cant
2019-11-06T21:40:00+00:00
3692
Local News
Cointelegraph Brasil presents a weekly digest of selected cryptocurrency- and blockchain-related news.
Cryptocurrency and Blockchain News From Brazil: Oct. 28-Nov. 3 in Review
Joeri Cant
2019-11-03T23:08:00+00:00
3147
News
Belgium’s financial watchdog has made an additional update to its blacklist of crypto-related websites associated with fraud.
Belgian Regulator Blacklists Another 9 Crypto Websites Suspected of Fraud
Joeri Cant
2019-11-01T20:35:00+00:00
874
News
Veritaseum has been ordered to pay an $8 million disgorgement fine for selling unregistered securities by a New York Eastern District Court.
NY Court Orders Veritaseum to Pay Back $8 Million From Illegal ICO
Helen Partz
2019-11-01T13:31:00+00:00
5338
News
A Dubai-based Canadian expat has been arrested for peddling an allegedly fraudulent “Sharia-compliant” cryptocurrency and a host of other get-rich-quick schemes...
‘Bitcoin of the Middle East’ Scam Lands Canadian Expat in Dubai Jail
Marie Huillet
2019-11-01T08:49:00+00:00
5787
News
The Malta Financial Services Authority has warned of a new Bitcoin scam that shares the same characteristics as a previously identified entity.
Malta’s Financial Watchdog Warns of Repeat Offender Bitcoin Scam
Marie Huillet
2019-10-31T10:19:00+00:00
3195
News
Polish authorities arrest the president of controversial Panama-based payments processor Crypto Capital tied to Bitfinex and other cryptocurrency exchanges.
Head of Crypto Capital Arrested in Connection With Money Laundering
Liam Frost
2019-10-25T07:24:00+01:00
7518
News
California resident files a lawsuit against AT&T alleging that its employees helped to perpetrate a SIM-swap resulting in the theft of over $1.8 million, includ...
California Man Sues AT&T Over Loss of $1.8M and Crypto Accounts
Adrian Zmudzinski
2019-10-20T12:26:00+01:00
68096

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