Tagscams

Despite Taking Down 90 Crypto Scams, US Regulators Recovered Just $36 Million for Victims

Regulators in the United States have filed over 90 cryptocurrency fraud cases in the last two years, the Wall Street Journal reports. While it is difficult to determine the amount that investors have lost, regulators at both the federal and state level have only managed to get back US$36 million, a figure considered paltry. What has made it difficult to trace funds is the anonymous and borderless...

Canadian Police Warn Public About Emerging Bitcoin Scams

Canadian police have warned the public about getting caught up in Bitcoin scams and to exercise some caution when investing their money in cryptocurrency. It has been an interesting year for crypto scams and controversies with some of the most famous names in the world such as Floyd Mayweather and DJ Khaled getting caught up in the affray. However, it is the online crypto-hackers you have to...

FTC Warns of Rise in Bitcoin Blackmail Scams Targeting Cheating Husbands

bitcoin scam

The Federal Trade Commission (FTC) is attempting to combat bitcoin blackmail scams by offering consumers advice through its website. In a bulletin published on Aug. 21, the FTC Division of Consumer and Business Education posted a sample quote from a typical BTC blackmail scam: “I know about the secret you are keeping from your wife and everyone else. You can ignore this letter, or pay me a $8600...

Research: Over 1,000 Cryptocurrencies are "Dead Projects"

While not all cryptocurrencies and tokens are built to last, the math shows token projects and forked digital currencies abandoned, shut down, and scammed are far greater than one may think. "Dead Coins" As per data collated by Coinopsy and Dead Coins, two digital currency tracking websites, an estimated 1,000 cryptocurrencies projects are lacking any development or future activity in their...

Malware Snatches 13BTC ($36,000) From Bitcoin User

Bitcoin malware theft

It can never be said too often, but the prevalence of malware on the Internet, especially malware targeting Bitcoin and other financial software, makes it extra important today: you can never be too careful when sending Bitcoin transactions. A Reddit user today lost 13BTC, or around $36,000, when he pasted an address from his clipboard that was not the appropriate address. I copy pasted BTC...

Scam Warning: Flexibit High Yield Investment Program

warning

At the bottom of every CCN page, you will notice we disclaim all advertisements in terms of actual endorsement. We would prefer a situation where staff could make a living without the use of advertising, or in which scam artists didn’t see Bitcoiners, especially new ones, as easy marks. It is in our rational self-interest to give businesses the benefit of the doubt, but we maintain a policy of...

Scammers in Australia Demand Bitcoin and Gift Cards from Facebook Users

Facebook users in Australia are being tricked into handing over money as scammers use the social media site to demand bitcoin or iTunes gift cards as payment. According to the Australian Competition and Consumer Commission (ACCC), thieves are hiding behind familiar organizations that the general public are likely to trust such as utilities and telecommunication agencies. In a report from SBS...

The Anatomy of a Bitcoin Pyramid Scheme – The BTCSolar Story

As the saying goes, there’s a sucker born every minute. This is the primary rule on which pyramid schemes operate – there will always be enough people to make a scam work. BTCSolar was a bit different than most pyramid schemes these days. It had some funding at the start, as evidenced by it having been advertised on CCN briefly. As our legalese goes, we’re not responsible for what you do when you...

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