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Tag: scams

British TV Star Sues Facebook for Defamation over Fake Bitcoin Ads

Category: Bitcoin, Commentary, News

British TV Star Sues Facebook for Defamation over Fake Bitcoin Ads

British TV star Martin Lewis is suing social media giant Facebook. He claims that online scammers are using his reputation in more than 50 fake get-rich-quick schemes. Outrage and Delays Although Lewis reported the fake ads, he’s outraged that Facebook has taken days and in some cases weeks to remove them. Lewis also notes that even if the original ad…

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Texas State Securities Board Investigation Uncovers 32 Illegal Cryptocurrency Schemes

Category: Altcoins, Bitcoin, Commentary, News, Regulation

Texas State Securities Board Investigation Uncovers 32 Illegal Cryptocurrency Schemes

The Texas State Securities Board (TSSB) published a report on April 10 based on afour-week investigation concerning cryptocurrency fraud in which 32 illegal schemes were discovered. The probe was conducted owing to the upswing in the cryptocurrency investment opportunities flogged to Texans. According to the report published by the TSSB, cryptocurrency frauds have been identified as  “widespread.” Unregistered Crypto Businesses…

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Vietnamese PM Directs Ministry to Strengthen Oversight Following Crypto Scam

Category: Blockchain, Business, News, Regulation

Vietnamese PM Directs Ministry to Strengthen Oversight Following Crypto Scam

The Vietnamese market is under the eye of the government as of late due to a scam which saw a reported VND 150 trillion ($650 million) stolen from local Vietnamese investors on April 8, 2018. Rallying All the Ministries Around New Crypto Regulation The Vietnamese firm responsible had its office raided in Ho Chi Minh City on Sunday, April 8th,…

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China Police Crush $13 Million Crypto Ponzi Scheme

Category: Altcoins, Commentary, Finance, News

China Police Crush $13 Million Crypto Ponzi Scheme

Though global security forces are doing their best in the battle against all forms of unlawful activities, ‘cryptocriminals’ are unrelenting in their efforts to make unsuspecting and somewhat gullible virtual currency enthusiasts shed tears. Now, the Chinese police force has crushed a $13 million cryptocurrency pyramid scheme. Game Over Security operatives in the city of Xi’An, northwestern China have arraigned…

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$4.3 Million ICO Exit-Scams, Then Comes Back Online in a Bizarre PR Stunt

Category: Altcoins, Commentary, Finance, News

$4.3 Million ICO Exit-Scams, Then Comes Back Online in a Bizarre PR Stunt

Savedroid, an ICO focusing on cryptocurrency investing, possibly pulled off the best PR stunt in the history of cryptocurrencies. On April 18, the Savedroid updated its website with a satirical meme and confirmed its disappearance on Twitter. “Over and Out’” were the last words by the founder of Savedroid, Dr. Yassin Hankir, before the apparent exit-scam. Media outlets widely reported…

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Satis Group Analysts: 81 Percent of ICO’s Are Scams

Category: Altcoins, Commentary, Finance, News

Satis Group Analysts: 81 Percent of ICO’s Are Scams

Satis Group, the premier ICO Advisory Group, have classified Initial Coin Offerings (ICOs) by their quality to provide a clear picture of ICOs actual progress. Satis Group’s findings are shocking but is a bitter truth cryptocurrency space participants must swallow. According to their report, almost 81 percent ICOs are scams, at the same time, only 1.6 percent of them are…

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A Guide to Airdrops Part 3: Airdrop Scams

Category: Altcoins, Bitcoin, Commentary, News

A Guide to Airdrops Part 3: Airdrop Scams

Read Part 2 of BTCManager’s series on Airdrops here. In the first two parts of ‘A Guide to Airdrops,’ you have learned what airdrops are, how they work and what the most popular airdrops have been. In this guide, you will discover how airdrops have been misused and how airdrops are turning from a gift to the cryptocurrency community into…

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Verge Cryptocurrency Opens Crowdfunding: A Possible Scam?

Category: Altcoins, Commentary, News

Verge Cryptocurrency Opens Crowdfunding: A Possible Scam?

Verge, a digital currency with an ambition to compete with other privacy coins, took to Twitter on Thursday, March 22 to ask its users to raise an amount of $3 million in XVG so that the project can reveal a partnership. Such an endeavor that is completely unheard of, even in the Cryptocurrency world. Starting out as a Dogecoin Fork,…

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Fake Tax Collectors in Australia Demand Bitcoin as Payment

Category: Altcoins, Bitcoin, Finance, News, Regulation

Fake Tax Collectors in Australia Demand Bitcoin as Payment

The Australian Taxation Office (ATO) released a warning to the public to take caution as scammers are issuing fake tax debts and demanding payment in cryptocurrencies. While the ATO issued a statement on March 14, assistant commissioner Kath Anderson noted that scammers had defrauded taxpayers with this new payment method since late 2017. “We became aware of scammers seeking payment…

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South African Investors Swindled Out of More Than $50 Million Through Bitcoin Scam

Category: Bitcoin, Finance, News

South African Investors Swindled Out of More Than $50 Million Through Bitcoin Scam

While the popularity of cryptocurrencies is ever increasing and more and more people are getting involved in the investment side of digital currencies, there are still a lot of pitfalls in the sector that need to be avoided. Whenever there is an industry where significant sums of money are flooding in, there will be people trying to take advantage of…

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