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Most people are all too aware that scammers have been targeting the ICO industry for quite some time now. It seems some criminals are shifting their attention from potential investors to the people organizing these crowdsales. It’s a very peculiar trend, although it seems there is still a lot of work to be done until people actually … Read more
Initial coin offerings are often considered to be the holy grail for blockchain projects. This business model allows anyone with an innovative idea to potentially raise millions of dollars. Unfortunately, the overall ICO statistics are anything but impressive in this industry right now. The ICO Industry is Still Troubled While most people will readily agree … Read more
“Revolutionary Casino Where Everyone Wins!” announces a tempting description of “ZeroEdge” casino. A casino that doesn‘t work and probably never will. Because the casino and the “Zerocoins” they are launching on March 27 are all fake. How to recognize a wolf in sheep’s clothing when the herd is that big? Well, it’s not that easy. … Read more
The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Reporting Illegal Schemes South Korea’s largest cryptocurrency exchange Upbit has invited … Read more
The Belgian financial authority has published a list of 19 cryptocurrency trading platforms that it had received complaints about. The regulator says these platforms show signs of fraud. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies 19 ‘Fraudulent’ Crypto Trading Platforms Belgium’s Financial Services and Markets Authority (FSMA) has recently warned about … Read more
It has become painfully evident that not all initial coin offerings are created equal. While it is only normal that not every single venture will be completely professional, one would expect a decent standard of quality from companies trying to raise millions of dollars. Unfortunately, that is not always the case, as Miroskii has seemingly hired a Ryan Gosling … Read more
HFT giant Virtu has been the target of an apparent clone scam, using its likeness to attract possible investors. The company is threatening legal action and has already approached the authorities about the matter. The promotional matrial for the “coin” in question, Virt, is so bizarre it almost looks like a parody of the current … Read more
In the time it takes you to read this sentence, $850 will have been lost to cryptocurrency scams. In the time it takes to complete this article, that figure will have risen to $17,000. Phishing; fraud; theft; hacking; it’s all rife. In the first two months of 2018, there were 22 separate scams involving thefts … Read more
It has always been assumed that a large number of ICOs will fail, be it at the fundraising stage or when it comes to delivering the actual project. It’s hard to settle on a precise figure, however, as most dubious ICOs don’t exit scam: they slowly tiptoe away, like a sneak thief rather than a … Read more
The Australian Competition & Consumer Commission (ACCC) has revealed that it received more than 1,200 complaints relating to cryptocurrencies via its ‘Scamwatch’ portal during 2017. In light of the number of complaints, the Australian Securities and Investments Commission (ASIC) has issued a warning to potential investors outlining the risks associated with cryptocurrency investment. Also Read: Tesla … Read more
