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
After filing a Bitcoin scam-related lawsuit against YouTube last year, Steve Wozniak now has 30 days to revise his complaint.
Apple co-founder Steve Wozniak loses Bitcoin scam case against YouTube
Helen Partz
2021-06-03T09:41:55+01:00
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The arrested employees, including directors, are suspected of fraud.
Four arrested after Turkish exchange Vebitcoin closes its doors
Andrew Thurman
2021-04-24T16:56:26+01:00
35742
News
Ledger and Shopify are facing a class-action lawsuit over sensitive information regarding 270,000 of Ledger’s customers that was stolen by Shopify employees.
Ledger faces class action from phishing scam victims
Brian Quarmby
2021-04-09T06:56:13+01:00
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Apple removed the fake Trezor app several times, but it kept appearing on the App Store days later.
iPhone user blames Apple for $600K Bitcoin theft via fake app
Helen Partz
2021-03-31T10:18:46+01:00
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A social media influencer known for “cash giveaways” has failed to show the money in alleged Bitcoin wire fraud scheme.
Instagram influencer charged over duping followers out of $2.5M BTC
Brian Quarmby
2021-03-25T05:17:44+00:00
11747
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South African crypto firms are threatening to move operations abroad if lawmakers don’t provide clear regulatory guidelines.
South African crypto firms warn opaque regulations are harming the industry
Brian Quarmby
2021-03-09T05:31:09+00:00
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With a charity and some slapdash art theory as a cover, a copycat makes off with 512 ETH in NFT sales.
NFT market top signal? Fake Banksy nets over $1 million in ETH from NFT sales
Andrew Thurman
2021-02-20T15:51:24+00:00
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Kiss bassist Gene Simmons has again taken to Twitter to shill his crypto holdings, claiming to have now invested in Cardano.
Gene Simmons says he’s added $300K of Cardano to his bags
Samuel Haig
2021-02-19T05:25:11+00:00
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