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
U.S. federal jury convicted two alleged Romanian hackers of spreading malware to steal credit card credentials and illicitly mine cryptocurrency.
US Justice Dept. Convicts Two Romanians of Cybercrimes Including Cryptojacking
Adrian Zmudzinski
2019-04-13T11:46:00+01:00
5905
News
Two men were found guilty of promoting and accepting investments for OneCoin, including setting up a dedicated subsidiary.
Singapore Police Secure First Convictions Against OneCoin MLM Scheme Agents
William Suberg
2019-04-10T11:42:00+01:00
20728
News
Jacob Burrell Campos will also forfeit over $820,000 after remaining in state custody since August 2018.
California Sentences Bitcoin Trader to 2 Years in Prison Over AML Compliance Failures
William Suberg
2019-04-09T09:51:00+01:00
5221
News
A 33-year old Danish man laundered $450,000 by depositing dirty money in Bitcoin and sending it to exchanges overseas.
Danish Man Faces Over 4 Years in Prison for Laundering $450K With Bitcoin
Helen Partz
2019-04-08T20:47:00+01:00
7750
News
Authorities fed information about related schemes to an “AI Investigator” as part of a sting operation to catch the scheme’s two perpetrators.
Artificial Intelligence Helps South Korea Police End $18 Million Crypto Ponzi Scheme
William Suberg
2019-04-08T08:51:00+01:00
4086
News
Belgium’s Financial Services and Markets Authority updated its crypto-related fraud blacklist to total of 120 websites.
Belgium’s Financial Watchdog Updates Crypto-Related Blacklist to Total of 120 Websites
Helen Partz
2019-04-04T13:31:00+01:00
5750
News
Founders of Canadian-based Vanbex reportedly used the $22 million raised in an ICO for personal benefit instead of building promised products.
Canadian Police Freezes Assets of FUEL Token Issuers due to Alleged $22 Million Fraud
Helen Partz
2019-04-01T18:01:00+01:00
10149
News
A new strain of Trojan malware for Android phones is targeting global users of top crypto apps such as Coinbase, BitPay and Bitcoin Wallet.
Android Malware Targets Users of 32 Crypto Apps, Including Coinbase, BitPay
Marie Huillet
2019-03-29T10:31:00+00:00
19201

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