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 founder of Romanian cryptocurrency exchange Coinflux will reportedly be extradited to the United States.
Founder of Romanian Crypto Exchange Coinflux to Be Extradited to US on Multiple Allegations
Adrian Zmudzinski
2019-01-05T12:04:00+00:00
17617
News
Internet users worldwide have begun receiving emails claiming an armed “mercenary” will blow up their building.
US Government Tells Bitcoin Bomb Scam Victims to Inform FBI, Not Pay Ransom Money
William Suberg
2018-12-14T12:21:00+00:00
9654
News
Russia’s parliament will discuss a draft bill on blocking suspicious financial websites, and experts believe it might affect “scam” ICOs.
Russian Draft Bill Blocking Suspicious Financial Websites ‘Could’ Cover ‘Scam’ ICOs, Experts Note
Ana Berman
2018-12-12T18:05:00+00:00
3076
News
The man behind the “Blockchain Terminal” ICO has been ousted as a convicted financial criminal who concealed his former identity.
Report: Financial Criminal Allegedly Revealed as Figure Behind ‘Blockchain Terminal’ ICO
Marie Huillet
2018-12-12T14:27:00+00:00
7438
News
New Zealand’s Financial Markets Authority has updated its blacklist with three suspicious crypto-related companies.
New Zealand: Financial Authority Blacklists Another Three Crypto Platforms Marked as ‘Suspected Scams’
Ana Berman
2018-12-12T11:24:00+00:00
6090
News
The cryptocurrency platform Cubits (Dooga) has battled alleged “collusion” over the disappearance of $32.8 million last February.
Crypto Platform Cubits Begins Insolvency Procedure After Alleged Hack, Locks Users’ Funds
William Suberg
2018-12-12T10:15:00+00:00
6825
News
Mark Karpeles has repeatedly denied criminal activity related to either the Mt. Gox hack or the alleged embezzlement of funds.
Ex-Mt. Gox CEO Karpeles Denies Embezzlement as Prosecutors Call for Ten Year Jail Term
William Suberg
2018-12-12T09:21:00+00:00
3997
News
A statement from Maltese regulators requires site OriginalCrypto to stop serving the Italian and Maltese markets.
Malta, Italy Issue Joint Warning Over Potential Unlicensed Cryptocurrency Exchange
William Suberg
2018-12-06T11:17:00+00:00
5275

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