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
Bitcoin exchange and alleged scam Goxtrade advertises staff who do not work for them.
Goxtrade Advertises Unaffiliated Staff and Misleading Contact Information
Max Boddy
2019-05-18T01:30:00+01:00
12172
News
Cryptocurrency project OneCoin is reportedly denying claims that it is a “hybrid ponzi-pyramid scheme” and scam.
Cryptocurrency Project OneCoin Denies Ponzi and Pyramid Scheme Claims
Ana Alexandre
2019-05-17T23:30:00+01:00
11869
News
RepuX and JoyToken have reportedly completed an initial coin offering (ICO) exit scam together.
Blockchain Sister Startups Allegedly Pull $8 Million Exit Scam
Max Boddy
2019-05-16T21:44:00+01:00
6065
News
Hacked New Zealand-based cryptocurrency exchange Cryptopia has gone into liquidation and suspended trading services.
Hacked New Zealand Exchange Cryptopia Appoints Liquidators, Trading Suspended
Marie Huillet
2019-05-15T09:59:00+01:00
8481
News
The U.S. Department of Justice announced that a group of hackers might face over 100 years in prison after stealing $2.5 million.
US DoJ Charges Group of Individuals Who Stole $2.5 Mln in Crypto Via SIM Swapping
Ana Berman
2019-05-10T16:03:00+01:00
5557
News
Proceedings from yesterday’s hack of cryptocurrency exchange Binance have been moved to seven addresses.
Bitcoin Stolen in Binance Hack Moved to Seven Addresses
Adrian Zmudzinski
2019-05-09T12:09:00+01:00
22635
News
A group of 35 largest cryptocurrency traders is reportedly mulling the idea of creating a blacklist of counterparties engaged in nefarious activities.
Bloomberg: Major Crypto Traders Meet to Establish Industry Blacklist, Standards
Ana Alexandre
2019-05-08T22:25:00+01:00
5468
News
Israeli police and the United States Federal Bureau of Investigation have arrested at least two men and reported others.
FBI and Israeli Police Take Down Bitcoin-Enabled Darknet Listings Site
Marie Huillet
2019-05-08T11:51:00+01:00
6353

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