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
Elementus analysts have identified $105 million leaving crypto exchange CoinBene’s wallets, arguing that patterns are “consistent with how exchange hacks common...
Analysts Claim CoinBene Transactions, Recent Activity ‘Consistent’ With Exchange Hack
Marie Huillet
2019-03-28T11:33:00+00:00
5188
News
Google-owned video-sharing platform YouTube reportedly ran a malicious ad for the Electrum Bitcoin wallet by mistake.
YouTube Reportedly Runs Malicious Ad for Bitcoin Wallet Electrum by Accident
Ana Alexandre
2019-03-26T20:03:00+00:00
5086
News
Singapore-based cryptocurrency exchange DragonEx has notified its users that it suffered a hack on March 24.
Singapore: Crypto Exchange DragonEx Reports Hack of Both Platform, User Assets
Marie Huillet
2019-03-26T11:24:00+00:00
6059
News
Indian law enforcement has arrested four more suspects allegedly involved in a cryptocurrency scam that amassed nearly $17 million.
India: Police Arrest Four More Suspects in Alleged $14 Million Crypto Scam
Adrian Zmudzinski
2019-03-23T13:07:00+00:00
15978
News
The former operator of now-shuttered crypto exchange BTC-e, Alexander Vinnik, has lodged an appeal with a Piraeus court for his release or extradition to Russia...
Alleged Bitcoin Fraudster Alexander Vinnik Appeals for Extradition to Russia
Ana Alexandre
2019-03-21T22:55:00+00:00
5282
News
The U.S. Attorney for the Northern District of Texas reportedly described Jared Rice’s plea as one of the first of its kind.
Texas: Crypto AriseBank CEO Pleads Guilty to Deceiving Investors in $4.2 Million Case
William Suberg
2019-03-21T15:32:00+00:00
3901
News
According to a cybersecurity company, Israeli fintech companies are being targeted by malware.
Report: Malware Targets Israeli Fintech Firms Working in Crypto, Forex Trading
Adrian Zmudzinski
2019-03-19T18:00:00+00:00
3432
News
Cryptocurrency fund manager Stefanos Papanastasiou is about to be brought to court by his clients over alleged losses.
Australia: Clients Take Crypto Fund Manager to Court, Cite $14.2 Million in Losses
Adrian Zmudzinski
2019-03-19T15:44:00+00:00
4841

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