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
The United States’ law enforcement recovered and returned over $104,000 stolen from cryptocurrency exchange Bitfinex.
Bitfinex’s Stolen Funds Partially Recovered and Returned by US Law Enforcement
Adrian Zmudzinski
2019-02-25T11:52:00+00:00
5906
News
Coinbin, which acquired Youbit in 2017, is closing operations as the result of embezzlement from a senior executive.
South Korea’s Coinbin Files for Bankruptcy With $26 Mln Loss, Cites Employee Embezzlement
William Suberg
2019-02-25T07:45:00+00:00
4392
News
Canadian banks showed hesitation concerning the management of insolvent cryptocurrency exchange QuadrigaCX’s assets.
Canadian Banks Wary of QuadrigaCX Assets’ Origins, Cite Money Laundering Concerns
Adrian Zmudzinski
2019-02-23T10:53:00+00:00
7861
News
The FBI is attempting to investigate the movements behind the failed alleged ponzi scheme, which at one point was worth $2.5 billion.
FBI Solicits Information From Bitconnect Investors With Voluntary Questionnaire
William Suberg
2019-02-22T07:41:00+00:00
4988
News
The FBI has outlined what it believes to be the consistent threads running through fraudulent initial coin offerings.
FBI Outline Key Features of Scam ICOs, Warns Investors to Be Vigilant
Marie Huillet
2019-02-19T09:13:00+00:00
10417
News
The government has formally opened a cyber security lab and strengthened police powers to investigate possible crypto-based crime.
India Targets Cryptocurrency Crime аs Part оf Cyber Security Offensive
William Suberg
2019-02-19T09:06:00+00:00
5991
News
An alleged cryptocurrency mining scam has been reported to Thai police; 140 investors are reportedly affected.
Alleged Bitcoin Mining Scam Reported in Thailand
Aaron Wood
2019-02-19T02:00:00+00:00
15991
Analysis
Crime trends in the cryptocurrency space are evolving, as criminals look for innovative ways to steal and launder stolen funds.
Crypto Crime Trends Evolving as Users Wise Up: Exchange Hacks, Darknet and Money Laundering
Gareth Jenkinson
2019-02-18T14:23:00+00:00
10115

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