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
Sources claim that four major crypto exchanges, including Bithumb and Korbit, have opened a hotline in order to trace unusual transactions.
South Korea Report: Major Exchanges Join Forces to Combat Money Laundering
Ana Berman
2019-01-28T11:36:00+00:00
4018
News
The perpetrators are making phone calls pretending to be from Monex, the company has warned.
Coincheck Owner Monex Warns of Scammers Impersonating Its Businesses
William Suberg
2019-01-28T11:28:00+00:00
3204
News
Police in New Taipei, Taiwan, arrested fifteen suspects for allegedly running a cryptocurrency scam that raked in millions of dollars.
Fifteen Alleged Operators of $8 Million Crypto Scam Arrested in Taiwan
Adrian Zmudzinski
2019-01-27T11:56:00+00:00
6748
News
A link to a phishing LocalBitcoins clone website had reportedly been placed on the official LocalBitcoins forum.
LocalBitcoins Resumes Outgoing Transactions After Warnings of Phishing Link on Forum
Adrian Zmudzinski
2019-01-27T11:01:00+00:00
4782
News
The Malta Financial Services Authority has warned global investors against a scam scheme known as Bitcoin Revolution.
Malta’s Financial Watchdog Warns Global Investors Against ‘Bitcoin Revolution’ Scam
Helen Partz
2019-01-25T17:56:00+00:00
29506
News
Two leaders of South Korean cryptocurrency exchange Komid were reportedly sentenced to serve jail time for faking exchange volumes.
Leaders of South Korean Crypto Exchange Komid Jailed for Faking Volume: Local Media
Adrian Zmudzinski
2019-01-20T12:13:00+00:00
8115
News
A 21-year old American purported SIM swapper has been named as the main suspect in a $224 million lawsuit against telecoms giant AT&T.
Crypto Investor Names Primary Suspect in $24 Million SIM Swapping Case
Marie Huillet
2019-01-17T15:52:00+00:00
9225
News
After suspicious transactions worth around $3.6 million, Cryptopia has shut down, with local police confirming they are investigating.
New Zealand Police Confirm Investigation Into Alleged $3.6 Million Hack of Cryptopia
William Suberg
2019-01-16T08:04:00+00:00
7298

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