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
Iranian Bitcoin hackers used the WEX exchange to launder Bitcoin acquired through ransomware, according to a PwC report.
PwC: Bitcoin Ransomware Hackers Laundered Money via WEX Exchange
Ana Berman
2019-03-04T21:40:00+00:00
4710
News
QuadrigaCX probably stored a significant quantity of Ethereum in other cryptocurrency exchanges, the evidence shows.
QuadrigaCX Reportedly Stored ETH on Kraken, Bitfinex and Poloniex, Research Finds
Adrian Zmudzinski
2019-03-03T15:15:00+00:00
11227
News
Circle plans to ensure it is protected against malicious trading schemes and on the right side of regulators.
Circle Introduces Market Surveillance to Fight Insider Trading, ‘Pump and Dump’ Schemes
William Suberg
2019-03-01T14:59:00+00:00
4069
Local News
The trading platform has said it is closing permanently following a major software problem that reportedly lost funds.
Crypto Valley Association ‘Looking Into’ Improper Conduct by Member Platform Blue Trading
William Suberg
2019-03-01T12:13:00+00:00
4691
News
Switzerland-based online crypto bank Dukascopy has warned clients about a “clone” company GCG Asia claiming to be affiliated with the bank.
Swiss Crypto Bank Warns Customers About Company Masquerading as Partner
Ana Alexandre
2019-02-28T20:27:00+00:00
7779
News
7,096 cases of suspected money laundering tied to crypto were reported to Japanese police in 2018.
Japan: Reported Cases of Crypto-Related Money Laundering Increase 10-Fold in 2018
Marie Huillet
2019-02-28T08:49:00+00:00
4219
News
The exchange has been closed for almost two months following a major hack that could have involved around 10 percent of its funds.
Cryptopia Could Open by March 4 as Officials Hint at Sums Lost in Hack
William Suberg
2019-02-28T07:15:00+00:00
7573
News
The New Zealand Police have returned Cryptopia’s building, but the exchange won’t resume activity yet.
Cryptopia Won’t Resume Trading Until Balances Are Secure, Discord Message Notes
Adrian Zmudzinski
2019-02-25T14:47:00+00:00
12835

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