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
It appears this was a coordinated effort targeting prominent crypto YouTubers, not just Coin Bureau.
Coin Bureau Youtube channel hacked despite 2FA protection
Zhiyuan Sun
2022-01-24T17:31:00+00:00
12024
News
The FTC has alerted everyone to stay vigilant of a new payment scam involving impersonators and crypto ATMs.
FTC issues public warning about new crypto ATM scam
Ezra Reguerra
2022-01-11T09:11:50+00:00
4482
Analysis
The year 2021 has seen an increase in “rug pulls,” a new scam capable of luring both early adopters and new crypto investors.
Beware of sophisticated scams and rug pulls, as thugs target crypto users
Rachel Wolfson
2021-12-24T17:14:00+00:00
11267
News
Soon after Modi's Twitter account, with over 73.4 million followers, got hacked, attackers shared misleading information about the mainstream adoption of Bitcoi...
Indian prime minister Modi's hacked Twitter account attempts BTC scam
Arijit Sarkar
2021-12-12T05:00:00+00:00
13920
Markets News
Dubbed SQUID, the cryptocurrency had rallied by as much as 75,000% to cross over $2,850 but dropped to near zero on Nov. 1.
Game over! ‘Squid Game’-inspired crypto scam collapses as price crashes from $2.8K to zero
Yashu Gola
2021-11-02T12:11:00+00:00
22578
News
Kraken has urged BATMTwo ATM owners and operators to change the admin QR code for their ATMs to avoid potential attacks.
Vulnerable: Kraken reveals many US Bitcoin ATMs still use default admin QR codes
Brian Quarmby
2021-09-30T04:45:03+01:00
6260
News
Bitcoin-related investment scams have already exceeded $18.5 million, an increase of 44% compared to the total losses of nearly $12.8 million in 2020.
Australians lost over $25 million to bogus crypto investments: Report
Arijit Sarkar
2021-08-24T12:03:53+01:00
6199
News
The alleged fraudster’s crypto brokerage filed for bankruptcy in 2019 after claiming to have been the victim of a hack.
Brazil’s ‘Bitcoin King’ arrested over 7,000 missing BTC
Brian Quarmby
2021-07-06T07:22:42+01:00
5636

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