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. 

Follow up
Dutch billionaire John De Mol is suing Facebook over fraudulent crypto ads.
Dutch Billionaire Yet Another Victim of Deceptive Crypto Ads, Sues Facebook
Stephen O'Neal
2019-06-08T14:30:00+01:00
10730
News
Dutch billionaire John De Mol filed a lawsuit against Facebook over crypto ads using his image without permission.
Dutch Billionaire John De Mol Files Lawsuit Against Facebook Over Fraudulent Crypto Ads
Adrian Zmudzinski
2019-06-05T17:49:00+01:00
5884
News
A letter to member states highlights concerns over the growth in cryptocurrency activity versus law enforcement power.
EU: Malta Needs to Improve Readiness to Respond to Cryptocurrency Crime
William Suberg
2019-06-05T15:12:00+01:00
3571
News
Polish cryptocurrency exchange Coinroom has reportedly shut down its operations and disappeared with customer funds.
Report: Polish Exchange Shuts Down and Disappears With Customers Funds
Ana Alexandre
2019-06-04T23:30:00+01:00
31089
News
The United States Federal Bureau of Investigation called for former users of the QuadrigaCX crypto exchange to answer a survey.
US FBI Calls for QuadrigaCX Users to Provide Information
Adrian Zmudzinski
2019-06-04T17:03:00+01:00
5588
News
Indian police have discovered an alleged multi-million dollar cryptocurrency scam involving a BitConnect promoter.
Indian Police Uncover Cryptocurrency Scam Involving BitConnect Promoter
Ana Alexandre
2019-06-03T21:37:00+01:00
7627
News
Chainalysis claims that 64% of ransomware attack cash-out strategies involve the laundering of funds via crypto exchanges.
Chainalysis: 64% of Ransomware Attackers Launder Proceeds via Crypto Exchanges
Marie Huillet
2019-06-01T08:25:00+01:00
8345
News
Cryptopia’s liquidator Grant Thornton released an estimation on the financial state of the firm, reporting a total of $4.22 million owed to creditors.
Liquidators of Hacked Cryptopia Exchange Release Report, Note $4.2M Owed to Creditors
Helen Partz
2019-05-31T13:04:00+01:00
12815

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