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
Nigeria-based Satowallet has allegedly performed a $1 million exit scam as users have been unable to access their crypto since April.
Users of Nigeria-Based Crypto Wallet Lose $1M in Alleged Exit Scam
Helen Partz
2019-09-27T00:40:00+01:00
6965
News
Kate Winslet is among the victims of scammers using celebrities to advertise the nonexistent Bitcoin platform and steal money.
Fake Bitcoin Investment Platform From ‘Elon Musk’ Promises 4,000% ROI
William Suberg
2019-09-23T08:19:00+01:00
11828
News
The U.K. Financial Conduct Authority has warned the public about a cryptocurrency investment clone firm called First BTC FX.
FCA Warns Public About Clone Firm Offering Crypto Investment
Helen Partz
2019-09-20T19:51:00+01:00
1836
News
Darknet financial scammers are selling cold, hard cash for only 10 to 12 cents on the dollar to buyers willing to provide a prepaid fee in Bitcoin, security res...
$800 Bitcoin Buys $10,000 Cash on Dark Web, Turn-Key Money Laundering
Marie Huillet
2019-09-13T10:49:39+01:00
63886
News
The U.K. arm of cryptocurrency exchange Coinbase settled a lawsuit with a man who lost 80 Bitcoins in an email phishing attack.
Updated: Coinbase UK Agrees to Return 80 BTC to Victim of Email Phishing Attack
Joeri Cant
2019-09-12T01:40:00+01:00
4788
News
Chinese police reportedly closed the offices of local initial coin offering startup GXChain.
Chinese Police Reportedly Close Office of ICO Startup
Adrian Zmudzinski
2019-09-11T16:34:00+01:00
3525
News
Four out of the first five results presented when querying Google for a “bitcoin qr generator” lead to scam websites that generate false qr codes.
Four Out of Five Top Bitcoin QR Code Generators are Scams: Report
Adrian Zmudzinski
2019-09-06T02:40:00+01:00
7455
News
A 48-year old Thai man who called himself the “cryptocurrency wizard” has been arrested in Bangkok over his alleged role in a $16.3 million crypto exchange frau...
Thai ‘Cryptocurrency Wizard’ Nabbed for Alleged Role in $16M Heist
Marie Huillet
2019-09-05T09:16:00+01:00
3250

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