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 case is the second indictment to appear from U.S. authorities this week amid the persisting spread of SIM-swapping.
US Indicts Two More Men on Fraud and Extortion in SIM-Swapping Investigation
William Suberg
2019-02-05T13:37:00+00:00
3377
Follow up
Ethereum seems to have been the platform of choice for crypto scams over the past two years, but the trends of these scams have changed, according to research.
From Ponzi Schemes to ICO Exits, Ethereum’s Blockchain Has Been the Platform of Choice for Scammers
Gareth Jenkinson
2019-02-04T12:55:00+00:00
7668
News
The Manhattan District Attorney has announced New York’s first prosecution for SIM swapping, which resulted in the theft of $10K in crypto.
Crypto Thief Indicted in New York’s First SIM Swapping Prosecution
Adrian Zmudzinski
2019-02-02T15:15:00+00:00
8770
News
The malware seeks to bypass multi-factor authentication by stealing a range of data, says Palo Alto Networks.
CookieMiner Malware Tries to Hack Mac Users’ Cryptocurrency Exchange Accounts, Report
William Suberg
2019-02-01T10:40:00+00:00
6559
News
A top member of the Germany-based Iota Foundation has said the majority of the ~$11 million alleged to have been stolen in a major Iota token heist last year ha...
Report: Majority of $11.4 Million Stolen in 2018 Iota Token Heist Has Been Found
Marie Huillet
2019-01-31T11:30:00+00:00
5155
News
The Monetary Authority of Singapore warned public against a scam that claims crypto is officially adopted in the country.
Singapore: Regulator Warns of Online Scam Claiming Gov’t Adoption of Crypto
Helen Partz
2019-01-30T15:43:00+00:00
10712
News
About $1.7 billion in cryptocurrency was obtained via illicit means in 2018, according to a newly published report.
Research Reveals $1.7 Billion Obtained via Crypto Thefts and Scams in 2018
Adrian Zmudzinski
2019-01-30T12:10:00+00:00
6093
News
The Italian securities regulator has added crypto company Togacoin to its scam blacklist.
Italian Securities Regulator CONSOB Adds Crypto Company Togacoin to Scam Blacklist
Adrian Zmudzinski
2019-01-28T12:32:00+00:00
5972

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