Bitcoin Scams News

Latest News on Bitcoin Scams | Cointelegraph

A scam is a way to steal money from people under false pretenses. The main feature of a Bitcoin scam, compared with other ways of stealing money, is that it usually takes advantage of people’s trust and negligence. Currently, the cryptocurrency market is not regulated enough to protect people from scams, so that is why it is such a common thing among users of digital currencies. Since many people try to earn money by investing in new projects that are related to cryptocurrency, ICOs are one of the most popular ways to commit fraud. Besides that, some emerging cryptocoins use a financial pyramid system. In addition, to avoid scams, it is better to use a verified exchange or trading platform.

US Regulator Acts Against Crypto Firm Falsely Claiming to Represent Coinbase, Cointelegraph

SEP 19, 2018 | by Marie Huillet

The Texas Securities Commission has issued an emergency cease and desist order against a Russian crypto firm for misleading representation.

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Elon Musk Asks Dogecoin Creator to Help Fight Crypto Scam Bots on Twitter

SEP 17, 2018 | by Ana Berman

CEO of Tesla and SpaceX finds Twitter scam bots “annoying,” asks Jackson Palmer, the founder of Dogecoin, for help.

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CEO Behind GAW Miners, PayCoin Ponzi Scheme Sentenced to 21 Months in Prison

SEP 14, 2018 | by Helen Partz

The CEO of now-defunct GAW Miners has been sentenced to 21 months in prison and ordered to pay $9.2 million in restitution to investors.

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Two US States Implore Indian Authorities to Seize Property of BitConnect Promoters

SEP 12, 2018 | by Ana Alexandre

Two U.S. states have asked Indian authorities to seize the property of the promoters of alleged BTC Ponzi scam BitConnect.

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Breaking: Founder of Crypto Exchange OKEx Allegedly Detained on Crypto Fraud Charges in China

SEP 11, 2018 | by Molly Jane Zuckerman

The founder of crypto exchange service provider OKCoin and crypto exchange OKEx has allegedly been detained in China for suspected digital currency fraud.

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Belgium's Financial Watchdog Adds 28 Sites to Crypto Scam Blacklist

SEP 04, 2018 | by Marie Huillet

Belgium’s financial watchdog has added 28 new sites to its crypto-related fraud blacklist, noting that investors continue to fall victim to crypto scams.

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Greek Supreme Court Rules to Extradite Alleged BTC-e Owner Alexander Vinnik to Russia

SEP 04, 2018 | by Ana Berman

Greek’s Supreme Court has ruled in favor of Russia for alleged BTC-e owner’s extradition, but the final decision will be taken Greece’s Minister of Justice.

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Japan’s National Police Agency to Employ New Software to Track Crypto Transactions

AUG 31, 2018 | by Ana Alexandre

Japan’s National Police Agency is looking to use special software to track crypto transactions in order to fight the illicit use of crypto.

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France’s Interrogation of Alleged BTC-e Owner Alexander Vinnik Was ‘Fake’, Says Attorney

AUG 30, 2018 | by Ana Berman

Legal battle for alleged ex-owner of crypto platform BTC-e’s extradition continues as France attempts to question him in Greece.

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US Federal Trade Commission Issues Warning on Bitcoin Blackmail Scam ‘Targeting Men’

AUG 23, 2018 | by Max Yakubowski

The U.S. Federal Trade Commission warns consumers about blackmailing scams involving Bitcoin.

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Ethereum Scam App Appears on Google Play Store, Malware Researcher Reports

AUG 22, 2018 | by Helen Partz

An Ethereum scam app priced at $388 reportedly appeared on the Google Play Store, featuring so-called “Google Commerce Ltd” as the developer.

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Police Arrest Alleged India Head of Now-Defunct Bitconnect Scam

AUG 20, 2018 | by Marie Huillet

Indian police have arrested a man who was allegedly involved in promoting the Bitconnect investment scam.

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UK Watchdog Warns of Crypto Scams Using ‘Prestigious’ London Addresses as Smokescreen

AUG 17, 2018 | by Marie Huillet

The U.K.’s Financial Conduct Authority (FCA) has said that crypto investment scams are increasingly targeting British investors.

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Report: Over $2 Million Lost to Crypto Scams in Second Quarter of 2018

AUG 15, 2018 | by Aaron Wood

Cybersecurity and antivirus firm Kaspersky Labs found that, in the second quarter of 2018, cybercriminals stole over $2 million through crypto scams.

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US Regulator Fines and Halts Activities of Fraudulent Tomahawkcoin Issuer

AUG 14, 2018 | by William Suberg

The creator of Tomahawkcoin has agreed to a permanent officer-and-director ban and a $30,000 fine from the U.S. SEC after the ICO was found to be fraudulent.

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Wolf Of Wall Street Says Bitcoin Could Hit $50K Before Crashing

FEB 02, 2018 | by Molly Jane Zuckerman

Jordan Belfort, the “Wolf of Wall Street”, calls Bitcoin a “wolf in sheep’s clothing,” and warns of potential for scams and market manipulation. He also thinks ...

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Bitconnect Ponzi Scheme - No Sympathy From Crypto Community

JAN 19, 2018 | by Gareth Jenkinson

There’s been little sympathy from the cryptocurrency community after the closure of controversial exchange and lending platform Bitconnect.

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Russia: Blogger Who ‘Boasted’ About Crypto Wealth Beaten and Robbed For $425k

JAN 15, 2018 | by William Suberg

Attackers have mugged a cryptocurrency millionaire for almost half a million dollars during a visit to his home in St. Petersburg, Russia.

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Coincheck: Stolen $534 Mln NEM Were Stored On Low Security Hot Wallet

JAN 26, 2018 | by Jon Buck

Coincheck exchange hack: 523 mln NEM were stored on a single-signature hot wallet, staff “deeply regret” what happened.

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Tesla Billionaire Elon Musk Says He Owns $2.5K In BTC, Or ‘Literally Zero Cryptocurrency’

FEB 24, 2018 | by Helen Partz

Tesla and SpaceX CEO says he owns “literally zero cryptocurrency” in response to Twitter scams involving his fake accounts promising crypto donations.

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Bitcoin Platinum Created By South Korean Teenager As a Scam, Local Market Erupts

DEC 10, 2017 | by Joseph Young

Investors in local cryptocurrency exchange market are outraged over Bitcoin Platinum, an alleged scam created by a South Korean teenager.

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Investors File Class Action Lawsuit Against Bitconnect Following Its Shutdown

JAN 25, 2018 | by Helen Partz

Investors have filed a class action complaint against BitConnect one week after its shutdown, seeking compensation.

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Don’t Believe the Hype. Five Largest ICO “Exit Scams”: Expert Take

FEB 19, 2018 | by Brian Kean

More than $20 million stolen by five largest ICO exit scams.

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Hardware Bitcoin Wallets Not Vulnerable to Spectre Attacks, Funds Safe

JAN 05, 2018 | by Joseph Young

Hardware cryptocurrency wallets are not affected by the recently discovered vulnerabilities on CPUs and the latest Spectre attack.

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Two New Hardware Bugs Affect Most Devices, Private Keys Vulnerable

JAN 04, 2018 | by William Suberg

Newly discovered bugs affect most devices worldwide and can steal sensitive data, such as private keys. Experts recommend hardware wallets to protect crypto fun...

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Bulgarian Police Raids OneCoin Offices, ‘Ponzi Scheme’ Servers Shut Down

JAN 22, 2018 | by Molly Jane Zuckerman

The OneCoin offices and other associated companies were raided by Bulgarian and EU police on Jan. 17, 18.

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TechCrunch: Over 1000 Crypto Projects Are Considered ‘Dead’ Now

JUL 01, 2018 | by Helen Partz

There are over 1,000 “dead” crypto projects as of June 30, TechCrunch reports citing two websites that track dysfunctional ICOs.

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Fork Fail: US Government Institute Claims Bitcoin Cash Is ‘Original’ Bitcoin

JAN 30, 2018 | by William Suberg

The US government has become an unlikely if accidental Bitcoin Cash proponent after a report claims Bitcoin itself is a “fork.”

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Mining Service Nicehash Hacked, $60 Million in User Funds Stolen

DEC 06, 2017 | by David Dinkins

Mining service Nicehash hacked, over $60 mln in user funds stolen.

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Clampdown on OneCoin Intensifies, OneLife CEO Abandons Ship

MAY 12, 2017 | by Iyke Aru

The clampdown on OneCoin has intensified as Germany and Hungary initiate fresh moves to bring down the investment scheme that is widely believed to be fraudulen...

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Bitconnect Ponzi Scheme - No Sympathy From Crypto Community

JAN 19, 2018 | by Gareth Jenkinson

There’s been little sympathy from the cryptocurrency community after the closure of controversial exchange and lending platform Bitconnect.

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Wolf Of Wall Street Says Bitcoin Could Hit $50K Before Crashing

FEB 02, 2018 | by Molly Jane Zuckerman

Jordan Belfort, the “Wolf of Wall Street”, calls Bitcoin a “wolf in sheep’s clothing,” and warns of potential for scams and market manipulation. He also thinks ...

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Monero Loses Darknet Market in Apparent Exit Scam

OCT 05, 2016 | by Joël Valenzuela

Monero appears to have lost its darknet market integrations, and very well may have fallen victim to an exit scam.

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One Coin, Much Scam: OneCoin Exposed as Global MLM Ponzi Scheme

MAY 27, 2015 | by William Suberg

OneCoin, a purported cryptocurrency and trading venture based out of Bulgaria, is suspected to be a pyramid scheme with no verifiable evidence to back up any of...

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One Coin, Much Scam: Swedish Bitcoin Foundation Issues Warning Against OneCoin

SEP 14, 2016 | by Joseph Young

The Swedish Bitcoin Foundation released an official statement regarding OneCoin, a cryptocurrency Ponzi scheme that has been around since early 2015.

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Keep Money in the Game: OneCoin Moves On To New Fantasy Blockchain

OCT 06, 2016 | by Frisco d'Anconia

OneCoin claimed it has switched on to its new Blockchain. Tim Tayshun, CEO of Ezcoin, gives his view on how OneCoin operates and why he thinks it’s a deception....

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‘Regulate It Out of Existence’: Stiglitz And Swiss Bank Bash Bitcoin At Davos

JAN 24, 2018 | by William Suberg

Two senior economists have objected strongly to Bitcoin versus fiat currency at the 2018 World Economic Forum.

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OneCoin Leads Top 3 Scam Coins List, S-Coin, EarthCoin Follow

FEB 07, 2017 | by Iyke Aru

Popularity and followership are definitely not among the properties that qualify a given entity as a real cryptocurrency. Here are some examples of such entitie...

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Fork Fail: US Government Institute Claims Bitcoin Cash Is ‘Original’ Bitcoin

JAN 30, 2018 | by William Suberg

The US government has become an unlikely if accidental Bitcoin Cash proponent after a report claims Bitcoin itself is a “fork.”

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“Bitcoin Is A Scam,” Claims Ousted CEO Of Paypal

APR 25, 2018 | by Marie Huillet

“Bitcoin Is A Scam,” says ousted CEO of Paypal Bill Harris, who was dismissed from his former post just one month into the job.

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What is Bitcoin, “Bubble Territory” or “New Gold”?

SEP 05, 2017 | by Darryn Pollock

Another market predictor joined the Bitcoin Doomsday chorus, but not all agree

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Bitcoin Account Holder Loses $100K Over Public Wireless Network

NOV 24, 2017 | by Joshua Althauser

An unidentified 36-year-old man who owns has lost over $117,000 in Bitcoins while he was logged in on a public wireless network.

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Wolf of Wall Street Calls Bitcoin a “Fraud”

SEP 27, 2017 | by Chrisjan Pauw

Jordan Belfort, the wolf of Wall Street, joins the club of Bitcoin sceptics.

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Major Bitcoin/Ethereum Exchange: Ethereum Classic is a Scam

JUL 28, 2016 | by Evander Smart

Digital currency exchange BTC-e made an urgent call to their users saying that Ethereum Classic is a scam.

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Major Bitcoin Miner Disappears Along with Millions of Dollars Worth of Bitcoin

JUN 27, 2016 | by Olusegun Ogundeji

Usual website activities of a major Bitcoin miner Hashocean are nowhere to be found, fuelling suggestions that the cloudminer is a scam.

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