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
Indian law enforcement busted a group allegedly involved in a cryptocurrency scam that amassed an estimated 1 billion rupees ($14 million).
India: Police Arrest Suspects in Alleged $14 Million Crypto Scam
Adrian Zmudzinski
2019-02-17T18:59:00+00:00
10916
News
Israel-based crypto brokerage Coinmama has suffered a major data breach affecting 450,000 of its users.
Major Crypto Brokerage Coinmama Reports 450,000 Users Affected by Data Breach
Marie Huillet
2019-02-16T11:38:00+00:00
13461
News
Turkish police detained 24 people involved in hacking a crypto firm, using an online multiplayer game to communicate.
Turkish Police Arrest 24 Suspects Involved in Hacking Crypto Firm, Local Media Reports
Helen Partz
2019-02-13T15:46:00+00:00
6201
Analysis
SIM swapping has come into the spotlight in recent months after a number of high-profile arrests.
SIM Swappers Swindle Millions — Biggest Criminal Threat in Crypto in 2019?
Gareth Jenkinson
2019-02-12T12:58:00+00:00
5564
News
An app masquerading as DApp MetaMask contained malware that aimed to steal coins by replacing wallet addresses.
Fake MetaMask Crypto Malware Pulled From Google Play After Tipoff
William Suberg
2019-02-11T09:06:00+00:00
8710
News
The apparently fraudulent website failed to scam crypto investors after announcing a fake additional funding round in BTC.
Fake Website Mimicking Bakkt Platform Fails to Scam Crypto Community
Helen Partz
2019-02-08T12:04:00+00:00
5948
News
The Texas State Securities Board is working with law enforcement to track down crypto scammers, with 60 cited last year.
Texas Securities Regulator Reveals 16 Orders Issued to Suspect Crypto Investments in 2018
William Suberg
2019-02-08T08:29:00+00:00
6186
News
The Financial Conduct Authority reported that investment scams’ losses amounted to over $255 million in 2018.
UK Financial Watchdog: $255 Mln Lost in Crypto-Related, Other Investment Scams in 2018
Helen Partz
2019-02-06T11:59:00+00:00
4115

Follow us on Facebook