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
The SEC summarized its efforts on combating crypto misconduct as its chairman is set to step down by the end of this year.
SEC brought 56 cases against crypto-related firms during Jay Clayton’s tenure
Helen Partz
2020-11-17T13:31:12+00:00
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News
Scam websites posing as famous crypto projects ask for private keys so they can steal users' funds.
Yearn Finance doppelganger scam tries to trick visitors out of their keys
Mohammad Musharraf
2020-10-22T12:52:09+01:00
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News
Does an extortion attempt from Russian hackers explain Schiff's hatred for Bitcoin?
Fool's gold? Peter Schiff's bank under investigation in tax evasion probe
Andrew Thurman
2020-10-18T16:09:04+01:00
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News
The New York Department of Financial Services found that crypto firms blocked the Twitter hackers’ crypto addresses within 40 minutes.
New York polls crypto firms on security measures after Twitter hack
Marie Huillet
2020-10-16T13:45:46+01:00
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News
The legal team behind the case called it a “prolific cryptocurrency scam.”
Multi-millionaire Dick Smith threatens to sue The Guardian over Bitcoin scam ads
Turner Wright
2020-10-09T02:34:41+01:00
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News
Scammers are taking advantage of one of Bitcoin's strengths, as once lauded by Satoshi Nakamoto.
Fraudsters are switching from credit cards to Bitcoin, says consumer protection company
Michael Kapilkov
2020-10-05T22:00:00+01:00
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News
The CFTC continues its roll of crypto announcements this week in a recent fraud bust-up.
CFTC promises to protect 'the burgeoning markets for digital assets such as Bitcoin'
Kollen Post
2020-10-02T22:28:55+01:00
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Analysis
Twitter doesn’t seem able to move fast enough to stop thieves from grossly misusing their platform.
You won’t believe the depths to which crypto scammers on Twitter are willing to sink
Michael Kapilkov
2020-09-22T23:46:15+01:00
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