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
The city council of Riviera Beach, Florida, has agreed to pay nearly $600,000 worth of BTC to regain access to data lost in a hacker attack.
Riviera Beach City Council Agrees to Pay $600,000 in BTC to Ransomware Attackers
Ana Alexandre
2019-06-20T21:26:00+01:00
9252
News
The recently reported Firefox’s zero-day flaw was used by hackers to attack Coinbase employees on June 17.
Recent Firefox Zero-Day Flaw Was Used in Attacks Against Coinbase’s Employees
Helen Partz
2019-06-20T17:08:00+01:00
8729
News
The exchange’s deceased owner was transferring user funds off the exchange and using them in his own margin trading on other platforms.
QuadrigaCX Co-Founder Used User Deposits for His Own Trading, Created Fake Accounts
Marie Huillet
2019-06-20T08:55:00+01:00
7006
News
The U.S. DoJ unveiled a complaint against an alleged bitcoin-funded investment scam, saying the perpetrator and company are charged with fraud and money launder...
US Authorities Seek Extradition of Alleged Crypto Scammer
Max Boddy
2019-06-20T01:02:00+01:00
8474
News
The U.S. CFTC has filed a complaint against an alleged $147 million bitcoin scam scheme, Control-Finance Limited.
US CFTC Brings Action Against $147 Million Bitcoin Investment Scheme
Helen Partz
2019-06-18T13:43:00+01:00
8666
News
The personal computers of Coincheck employees have allegedly been found to have been infected by a virus associated with Russian hackers.
Report: Record-Breaking Coincheck Hack Perpetrated by Virus Tied to Russian Hackers
Marie Huillet
2019-06-17T09:47:00+01:00
6701
News
The United Kingdom’s Financial Conduct Authority warned investors of two fraudulent clones of financial firms.
UK Financial Watchdog Blacklists Clones of Two Major Financial Firms
Helen Partz
2019-06-14T18:28:00+01:00
4169
News
Cybersecurity firm Trend Micro has confirmed that attackers have been exploiting a vulnerability in the Oracle WebLogic server to install XMR mining malware.
Trend Micro: Cybercriminals Use Obfuscation Trick to Install Crypto Mining Malware
Marie Huillet
2019-06-10T23:46:00+01:00
7889

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