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
Belgium’s economic inspectorate reported $3.2 million in losses due to cryptocurrency fraud in 2019.
Belgium Losing $3.2M to Crypto Fraud in 2019 Is ‘Tip of the Iceberg’
Helen Partz
2020-05-08T16:21:00+01:00
7655
News
A series of scam emails sent from Japan have been asking people to donate to the Olympic Games’ organization in Tokyo.
Crypto Scammers Impersonate Members of Olympic Committee
Felipe Erazo
2020-05-02T05:00:00+01:00
11667
News
The creator of first PoW-based crypto says the vast majority of projects are just “recycling something that belongs to someone else.”
BTC Maximalists Are Right That 95% of Crypto Is a Scam, Says Emin Gun Sirer
Helen Partz
2020-05-01T20:32:00+01:00
7737
News
CoinCorner reports that Google Ads is running a phishing ad despite the firm being unable to use its service.
Google Keeps Promoting Crypto Scams Despite Strict Crypto Policies
Helen Partz
2020-04-30T21:30:00+01:00
4956
News
An investigation provided in-depth info regarding how sextortion scams remain profitable for cybercriminals.
Crypto Sextortion Scams Prove to Be Alarmingly Successful
Felipe Erazo
2020-04-22T22:45:00+01:00
8355
News
According to an FBI press release on April 13, the number of scams related to cryptocurrency may increase during the COVID-19 pandemic.
Crypto Holders Being Targeted by COVID-19 Scammers — FBI Warning
Turner Wright
2020-04-14T06:48:00+01:00
4726
News
The Texas State Securities Board issued an emergency order against a crypto mining firm that allegedly made fraudulent COVID-19 charity claims.
Texas Regulator Spots Crypto Firm at Fraudulent COVID-19 Charity Claims
Helen Partz
2020-04-08T22:19:00+01:00
2518
News
New Zealand’s financial regulator, the Financial Markets Authority, issued a warning against a suspected Bitcoin investment platform.
New Zealand Financial Regulator Warns Public About ‘Profit Bitcoin’ Scam
Helen Partz
2020-04-06T15:47:00+01:00
8816

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