Liquidators of the embattled Mirror Trading International want a deeper probe of the alleged Bitcoin multi-level marketing scheme.
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.
Russian crypto exchange Livecoin claims that it has suffered a “carefully planned attack,” but some in the community suspect an exit scam.67854
More countries are allegedly involved in a major global Bitcoin ad scam.4242
The SEC summarized its efforts on combating crypto misconduct as its chairman is set to step down by the end of this year.5078
Scam websites posing as famous crypto projects ask for private keys so they can steal users' funds.6093
Does an extortion attempt from Russian hackers explain Schiff's hatred for Bitcoin?16872
The New York Department of Financial Services found that crypto firms blocked the Twitter hackers’ crypto addresses within 40 minutes.12999
The legal team behind the case called it a “prolific cryptocurrency scam.”6796
Scammers are taking advantage of one of Bitcoin's strengths, as once lauded by Satoshi Nakamoto.9297
The CFTC continues its roll of crypto announcements this week in a recent fraud bust-up.5194
Twitter doesn’t seem able to move fast enough to stop thieves from grossly misusing their platform.5986
And how much did Satoshi Nakamoto contribute to the 'Zombie' fund?6378
The cases of the robber’s two accomplices are still pending.3992
The alleged crypto scam websites are still intact.15148
They even wrote a self-help book about becoming a millionaire. Sounds like that may need to be updated.15046