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
People over 55 and under 64 years of age represent the largest age bracket who have fallen prey to scams.
Aussies already lost $242M to investment and crypto scams in 2022
Stephen Katte
2022-09-12T07:10:10+01:00
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Regardless of the methods used by scammers to contact potential victims, the FDACS newsletter highlighted five red flags that can help citizens identify and eva...
Florida govt warns against auto warranty scammers asking crypto payments
Arijit Sarkar
2022-09-11T09:30:00+01:00
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Crypto Twitter user FatManTerra explained the fake investment scheme was used to teach people a lesson about investing blindly in crypto schemes shilled by infl...
‘Far too easy’ — Crypto researcher’s fake Ponzi raises $100K in hours
Brian Quarmby
2022-09-06T03:37:47+01:00
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The general type of people Binance Australia has flagged as vulnerable users are the elderly, people that live in remote areas or those with disabilities.
Binance Aus ramping up measures to protect vulnerable users, says CEO
Brian Quarmby
2022-08-30T10:03:55+01:00
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Cryptocurrency YouTuber Bitboy Crypto has filed a defamation lawsuit against another prominent content creator on the platform.
BitBoy Crypto sues fellow YouTuber Atozy for defamation over shilling claims
Gareth Jenkinson
2022-08-24T10:38:38+01:00
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A 19-part thread outlines the sophisticated strategies scammers are using to part crypto users from their funds.
8 sneaky crypto scams on Twitter right now
Felix Ng
2022-08-22T05:21:24+01:00
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Fake crypto apps appear to be part of an ongoing game of whack-a-mole with app store operators.
FBI issues public warning over fake crypto apps
Felix Ng
2022-07-19T03:04:06+01:00
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Hackers had access to multiple official social media accounts of the British Army for nearly four hours, when they posted crypto phishing links and scams.
British Army’s social media accounts hacked by crypto scammers
Jesse Coghlan
2022-07-04T05:25:53+01:00
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