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
Two Chinese over-the-counter traders have been accused of running an illicit bitcoin loan scheme.
2 Chinese OTC Traders Accused of Illicitly Raising Bitcoin by Promising Interest
Adrian Zmudzinski
2019-05-22T13:34:00+01:00
2413
News
Figures linked to Indeal took in huge amounts of clients’ money after promising 15% returns within a month, say authorities.
Brazil Shuts Down Cryptocurrency Pyramid Scheme That Defrauded 55,000 of $200 Million
William Suberg
2019-05-22T11:43:00+01:00
5463
News
Sean Coonce, engineering manager at cryptocurrency custodian BitGo, announced that he has fallen victim to a SIM swapping hack.
Hackers Steal $100,000+ Worth of BTC From Engineering Manager at Crypto Custodian BitGo
Adrian Zmudzinski
2019-05-22T11:12:00+01:00
6604
News
An indictment names several individuals and companies, with fraudulent activities continuing over a period of several years.
SEC Shuts Down Ponzi Scheme Which Duped 300 Into ‘Diamond-Backed’ Cryptocurrency
William Suberg
2019-05-21T15:49:00+01:00
7057
News
The Australian financial regulator has warned the public against an alleged crypto-related scam operating with no license.
Australian Securities and Investments Commission Warns Public Against New Crypto Scam
Helen Partz
2019-05-21T15:07:00+01:00
9583
News
A portion of the ether stolen from hacked New Zealand-based cryptocurrency exchange has been moved.
ETH Stolen From Crypto Exchange Cryptopia Moved, Portion Deposited on Exchange
Adrian Zmudzinski
2019-05-21T13:51:00+01:00
7145
News
Tax authorities and local police have been investigating Barry van Mourik since a lawsuit in early 2018.
Police Arrest Dutch Cryptocurrency CEO in Rumored $25 Million Fraud Case
William Suberg
2019-05-21T12:48:00+01:00
8086
News
A U.S. court claims in an order that rapper T.I. sold unregistered securities in his FLiK initial coin offering.
Report: US Court Claims Rapper T.I. Sold Unregistered Securities in FLiK ICO
Adrian Zmudzinski
2019-05-21T12:10:00+01:00
8894

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