The meteoric rise of bitcoin is understood by many through savvy investors and adopters, but with the increase in technology, some scammers and hackers have found ways to penetrate the Bitcoin scams. As seen on this website, some of the potential scams related to bitcoin, which you need to be aware of currently are mentioned here.
scamwarning.org is a website by which everyone can get to know about these scams and make themselves safe from these scammers and hackers
- Fake Bitcoin Exchanges
BitKRX is one of the Bitcoin scams that was insidiously discovered by the financial authorities and the community of local Bitcoin. It always presented itself to people as a platform that made large trades and took a lot of money from many users.
- Ponzi Schemes
One of the most famous Ponzi schemers is Bernie Madoff. He used a mainstream investment to create a pyramid scheme where several investors took money to pay other previous investors. You can click here to visit our site to know more about pyramid schemes. Three men in 2019 got arrested because of the fraud scheme into cryptocurrency that involved $722 million. For years, the BitClub Network operated, which solicited cash from several investors in exchange for mining pools of cryptocurrency. Supposedly, old investors were to be rewarded when they recruit new ones, but that never happened.
- Fake Cryptocurrencies
As found on this website, a new scam that has taken over to become familiar is the presentation of a Bitcoin alternative to a new cryptocurrency. The idea involves cashing in Bitcoin later, and it requires one to invest in the up-and-coming Cryptocurrencies. One of the platforms that were shut down includes My Big Coin. The fraudsters took $6 million that belonged to customers to invest in the fake cryptocurrency. The funds will then be redirected into their personal accounts of the bank.
- Old School Scams
Many people have fallen victims of being called or email, which claims the caller is from the IRS, and they require them to get their pay. The victims are told to transfer Bitcoin by scammers instead of wiring money, sending via Western Unions, or transferring funds to the bank account. Scam warning recommends not receiving any emails or phone calls about strangers who claim that they are from an agency from the government. You can click here to visit our site to check on the right information about IRS contacts.
Avoid Bitcoin Scams
Click here to visit our site and see how Bitcoin is volatile. If you fall prey to these scams, you will increase the chances of losing money. As you can see here, you need to trust the instincts you feel and be alert for any fraudsters that deal with Bitcoin.
