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
Over $240 million in suspected proceeds from crypto exit scheme PlusToken have moved in four Bitcoin transactions.
PlusToken Suspected Ponzi Moves $240M in Four Bitcoin Transactions
Adrian Zmudzinski
2019-08-18T16:49:00+01:00
11771
News
The white hat hacker who compromised crypto exchange Binance Jersey's domain name and Twitter account will be compensated for cooperation.
Binance Jersey to Reward Hacker Who Compromised Its Domain Name
Adrian Zmudzinski
2019-08-17T14:20:00+01:00
4191
Analysis
With a new AML report describing 2019 as the year of the exit scam, Cointelegraph looks at the biggest alleged scams to date and how to spot one...
What Are the Biggest Alleged Crypto Heists and How Much Was Stolen?
Joseph Birch
2019-08-16T17:36:00+01:00
4699
News
A Bitcoin sell-off by Chinese Ponzi scheme PlusToken is not the cause of the recent price drop, researchers concluded.
Researchers: Bitcoin Price Drop Not Caused by $3B Ponzi BTC Dump
Adrian Zmudzinski
2019-08-16T11:54:00+01:00
17302
News
The entity who claimed to have stolen user KYC data earlier this month aims to release more, according to a new tweet.
Self-Proclaimed Binance Hacker Warns: New Wave of Data Leaks Is Coming
William Suberg
2019-08-16T11:32:00+01:00
4911
News
Luxembourg’s financial regulator has warned the public that a cryptocurrency-related firm has no license to operate in the country, despite its claims.
Luxembourg Financial Watchdog: Crypto Entity Lied About Licensure
Max Boddy
2019-08-14T20:56:00+01:00
2782
News
Smominru, Monero-mining malware found on at least half a million computers, now also steals user data.
XMR Cryptojacking Malware Smominru Updated, Now Targeting User Data
Adrian Zmudzinski
2019-08-10T18:40:00+01:00
7367
News
The Texas State Securities Board issued a cease and desist order against an alleged crypto scammer advertising on Craigslist.
Texas Securities Watchdog Shuts Down Craigslist Crypto Scammer
Helen Partz
2019-08-09T19:34:00+01:00
3435

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