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
New cryptojacking malware Beapy uses the leaked U.S. NSA hacking tools to spread through corporate networks.
New Crypto Mining Malware Beapy Uses Leaked NSA Hacking Tools: Symantec Research
Helen Partz
2019-04-25T13:36:00+01:00
3775
News
Bitcoin “is by far the favorite” for hackers and criminals, according to the blockchain intelligence firm’s co-founder and COO.
At Least 95 Percent of Crypto Crimes Involve Bitcoin, Chainalysis Executive Says
Thomas Simms
2019-04-25T12:22:00+01:00
2531
News
The U.S. SEC and CFTC have jointly issued an alert warning investors against fraudulent websites purporting to operate advisory and trading businesses.
US SEC Issues Fresh Investor Alert Against Fraudulent Digital Asset Trading Sites
Marie Huillet
2019-04-25T11:13:00+01:00
3603
News
Two men plead guilty for illicitly selling steroids and controlled substances and laundering millions of dollars in crypto.
US: Two Men Plead Guilty to Selling Drugs for Crypto and Laundering $2.8 Million
Adrian Zmudzinski
2019-04-24T13:19:00+01:00
3541
Investigation
Back in March 2019, the CoinBene cryptocurrency exchange denied that it suffered a hack but claimed to be undergoing maintenance, despite losing 109 ERC-20 toke...
Over $100 Million Missing: CoinBene Claims Maintenance, a Month of Questions Point Toward a Hack
Osato Avan-Nomayo
2019-04-23T20:59:00+01:00
8423
News
Joel Ortiz stole more than $7.5 million from dozens of victims, with one crypto entrepreneur losing $5.2 million in a matter of minutes.
21-Year-Old Jailed for 10 Years After Stealing $7.5M in Crypto By Hacking Cell Phones
Thomas Simms
2019-04-23T11:37:00+01:00
9616
News
Microsoft Korea has said the country is facing an increase in crytojacking incidents, according to their new report.
Microsoft Korea: Country Faces Growing Threat From Stealth Crypto Mining Attacks
Marie Huillet
2019-04-22T11:13:00+01:00
2947
News
The Manhattan district attorney has indicted a group of individuals with allegedly selling drugs and laundering millions with bitcoin.
US District Attorney Indicts Three for Laundering Millions With Bitcoin
Ana Alexandre
2019-04-17T20:57:00+01:00
4020

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