Category: Scams

Why You Can’t Help Falling for ICO Scams (And What to Do About It)

Lost in the excitement and ongoing momentum of the ICO craze is the fact that, despite the crowdfunding model’s enormous potential, we’re still surrounded by risks. To date, there have been thousands of ICOs and token sales, and although many go off without a hitch or shock, there have been a shocking number of ICOs…

August 30, 2018
The Daily: China Escalates Crackdown, Russia Chases Shadows, UK Warns of Scams

Following the closing of social media accounts of crypto news organizations and after forbidding hotels from hosting crypto-related events, China has turned its attention to banning payments to trading platforms based outside the country. We’ve covered the escalation of the crackdown in The Daily. Also, Russia’s Interior Ministry wants to introduce criminal liability for shadowy…

August 25, 2018
Federal Trade Commission Issues Warning on Bitcoin Blackmail Scams

The U.S. Federal Trade Commission (FTC) is blowing the whistle on of a new Bitcoin blackmail scam—one purportedly targeting men with a disposition for extramarital “activity.” According to the government’s consumer protection watchdog, allegedly unfaithful men are being sent letters by scammers demanding a “confidentiality fee,” payable in Bitcoin, in return for silence. The letters also…

August 23, 2018
Despite Crackdown, Fake Ethereum App Scams Google Play Users

A copycat Ethereum application on Google Play came under scrutiny earlier this week–scamming users under the pretext of selling them 1 ether, without selling any actual ether. Several users were tricked into buying the non-existent token, according to Hard Fork. ETH Hopefuls Scammed Currently trading at $285, ether trades on all popular cryptocurrency exchanges and…

August 22, 2018
Asia Head of BitConnect Arrested at Delhi Airport

Divyesh Darji, the alleged Asian head of defunct cryptocurrency platform BitConnect, was arrested by Indian authorities at Delhi Airport on August 18. The arrest is set to provide a modicum of justice to those affected by what has been dubbed the biggest scam in cryptocurrency history. Local news media reports Darji was arrested after his…

August 20, 2018
The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and That

Scammers are threatening to reveal cheating husbands to their wives and asking for bitcoin ransom – check the details in this edition of The Daily. A porn streaming website now rewards its users with tokens, and hair sprays are sold for BTC and BCH. Also, find out what Brits think about blockchain and learn about…

August 18, 2018
Bitcoin Investor Sues AT&T For $224 Million in Alleged Crypto Fraud

While cryptocurrency scams and lawsuits are usually based on “exit-scams” and outright frauds, Michael Terpin, a U.S.-based cryptocurrency investor, has filed a mammoth $224 million lawsuit against his telecom operator, citing the theft of digital tokens. AT&T’s Identity Gamble As reported by Reuters, Aug. 15, Terpin is holding telecommunications giant AT&T liable for gross negligence…

August 17, 2018
Kaspersky: Cryptocurrency Scammers Stole $2.3 Million in Q2

Cybercriminals earned more than $2.3 million from cryptocurrency scams during the second quarter of 2018, a new study reports.

August 14, 2018
Crypto Millionaire Lost 5,500 Bitcoins in Alleged Investment Scam

A 22-year-old cryptocurrency millionaire has lost more than 5,500 bitcoins in an alleged investment scam in Thailand.

August 12, 2018
‘Be Aware’: UK Financial Regulator Sounds Alarm Over Yet Another Crypto ‘Clone Firm’

UK financial regulators focus attention on second fraud operation this week involving a crypto company claiming to be an authorized firm

August 9, 2018