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Ponzi lending smart bot scam Bitconnect finally did what most sane observers predicted long, long ago. It went splat. And it didn’t collapse due to government pressure, nor flurries of bad press, and certainly not from DDoS hacking attacks. The story is more of a ballad, a great object lesson, and it is the lie … Read more
For naive investors who invested in BitConnect (BCC), today marks an exponentially bigger loss than the general cryptocurrency downtrend. After discontinuing its “lending” program, BCC instantly plummeted over 90% from the day’s high, dropping from over US$330 to a low of just under $20. While most of the community warned about the blatant scam presented … Read more
In a move that will surprise few observers, Bitconnect has announced that it is closing its lending and exchange platform. The company has widely been accused of operating a Ponzi scheme and was recently rocked by cease and desist notices in two US states. Immediately after the firm declared its intention to wind things up, … Read more
If the internet truly is for porn, it only makes sense for the latter industry to have its own cryptocurrency. Several such projects have been created in recent years, although none of them gained any major traction. Fantasy Market’s investors will realize by now that the creator of this project has ripped them off completely. More … Read more
Over the past few years, we have seen multiple cryptocurrencies which were only meant to work within a specific area. Auroracoin is by far the most notorious example, and it ultimately failed to gain any real traction. NewYorkCoin, also known as NYCoin, is the latest attempt to achieve a similar goal. However, this project raises a lot of … Read more
Hardware wallets are regarded as one of the safest means of storing bitcoin and other cryptocurrencies. Each device grants the holder possession of their private keys and adds a PIN code plus other tamer-proof tech for enhanced security. Hardware wallets are not impregnable, however, as one British man found to his peril after purchasing the … Read more
Anyone who took a look into Experience Points (XP) over the summer is undoubtedly wondering how the project grew from the tiny $350,000 market cap over 1000 times to what it is currently trading at. XP is currently trading at a price of about 1/5 of a penny, and sits at rank 61 on Coinmarketcap. Experience … Read more
One of the major benefits of decentralized exchanges is that they can’t be hacked – or so the theory went. As Etherdelta’s users found out last week, however, that’s not quite true. After accessing the site’s DNS records and replacing the domain with a sophisticated fake, attackers were able to hoover up hundreds of thousands … Read more
Blockchain transactions are irreversible: that’s one of the strengths of digital currencies such as bitcoin. But when funds are stolen, it means there’s no recourse for getting them back. Hacks and scams are endemic to the cryptocurrency space, and while experienced operators are adept at spotting the more obvious frauds, newcomers aren’t so astute. Some … Read more
Since BitConnect (BCC) rose to the top echelons of CoinMarketCap’s chart several months ago, it has received much skepticism from the mainstream cryptocurrency community. Despite this, it has maintained a huge market cap, seldom dipping below the top 20 coins, and seems to be continually growing. It’s clear that BitConnect, which promises daily returns of around 1% for users who “loan” … Read more
