[Übersicht] Cloud Mining - Die 3 Besten Bitcoin Mining ...

CryptoCoinsNews and newsBTC Supporting Obvious Ponzi Scheme

Wrote a piece about the obvious Bitcoin Cloud Services Ponzi scheme last week: https://bitcoinmagazine.com/20702/exclusive-possible-500000-bitcoin-cloud-mining-ponzi-scheme-uncovered/
This is what I see when visiting newsBTC.com from mobile: https://goo.gl/photos/JRiQQ5SUMinQ4USB7
CryptoCoinsNews has a sponsored story up, not sure if they also have ads as I can only access via mobile right now: https://www.cryptocoinsnews.com/bitcoin-cloud-services-start-your-bitcoin-mining-the-smart-way/
Edit: @thefatfacts also shared this with me via Twitter - https://twitter.com/newsbtc/status/608140264969015296?s=09
submitted by kyletorpey to Bitcoin [link] [comments]

Lition - $8 Million Dollar Market Cap With Real Use Right Now and a New Product They Are Developing Which Has Huge Potential.

Preface

I’m not usually one to shill my own coins but I’ve stolen a few good picks from this sub so I thought I’d share a new one I recently stumbled upon. Before I go into more details, I’d like to preface this by saying that I never invest in anything which I don’t think has the fundamentals to last at least 5-10 years and I don’t think this is a project which you will see a few hundred percent gains in a month or two. The hype isn’t there with this project and it’s more of a mid-long term play. If you want overnight gains, gamble on some of the smaller caps posted in this sub which are more like ponzi schemes riding on DeFi hype which you sell to a greater fool.

Introduction

Lition is a layer 2 blockchain infrastructure on top of Ethereum that enables commercial usage of dApps. The Lition protocol complements the Ethereum mainchain by adding features such as privacy, scalability and deletability for GDPR compliance. Everybody can choose to build on Lition without the need for permission.
In addition to the above, they also have a P2P energy trading platform currently operating and is supplying green power to customers in over 1000 towns and cities across Germany. Through their power platform, Lition customers are able to save about 20% on their monthly energy bill, while producers generate up to 30% higher profits since they are cutting out the middle men.
However, the real moonshot here is not their already successful smart energy platform (which utilises the same token) it is the enterprise layer 2 solution described in the quote above.
Their layer 2 enterprise infrastructure which is still in development will offer infinite scalability through sidechains and nodes staking LIT tokens on these sidechains. Block times will be fast at around 3 seconds and fees will be tiny fractions of a cent. However, the real selling point for enterprises will be that the data on these sidechains can be deleted and can be public or private, with private chains being validated via Zero-Knowledge proofs to verify that the private data is correct. This is huge and makes Lition a solution for a wide range of enterprise use cases due to these optional features. But it doesn’t stop there. Lition is also GDPR compliant - a big deal for Europe based enterprises and for the record, very very few blockchain solutions are GDPR compliant (I believe VeChain is one of the few other projects which are).

Important Bullet Points

Tokenomics

Their token has two primary uses. First, it is a utility token and they plan on making the LIT token the preferred payment method for all of the services on the Lition protocol. Secondly, it is used as collateral for staking which I can see locking up a large proportion of the supply in the future.
Unfortunately the circulating supply is currently 50% of the max supply but that said, coins like LINK have just 35% of the total tokens currently circulating, so relative to other projects, this isn’t too bad and many of the tokens are still to be earned by staking.

Conclusion

With their existing energy platform seeing real adoption and steady growth in Germany, in my opinion, this alone would be enough to justify their current market cap. However, I can see their second layer solution for enterprise being a really big deal in the future as protocol coins tend to accrue more value than utility tokens. As a versatile L2 solution for Ethereum, LIT gets the best of both worlds - adoption and network effects from Ethereum by helping it to scale as well as accruing value from the wide range of enterprise use cases which can be built on top of Lition. At just $8 million dollars in market cap, it seems to me that their work-in-progress L2 enterprise solution has not been priced in. However, due to a lack of hype and marketing right now, I don’t see LIT exploding in the short term. Rather, I can see it slowly outperforming ETH and climbing up the CMC rankings throughout this bullrun, much like Chainlink did in the bear market. Their building and partnerships over marketing strategy also reminds me when I held Chainlink back in 2018 when Sergey was busy building out the project rather than blowing their ICO money on marketing a bunch of vaporware like so many other projects.
Personally, I can see LIT becoming a top 100 project (not top 10) as it isn’t the first of an important new type of project like Chainlink was/is but it is an L2 protocol with unique advantages and selling points over other existing L2 projects which scatter the top 20-200 range. This would put the market cap at just under $120 million dollars which is a 15x from here. This is of course a valuation which assumes that the total crypto market cap remains where it is right now at just under $400 billion dollars. However, if BTC makes it to 100K and Ethereum gets to $5K then that is another 10x from here which compounds on any LIT/BTC or LIT/ETH ratio gains. In this scenario, a top 100 project would be worth around $1 BILLION DOLLARS by market cap which is over 100x from here and probably even more if ETH hits 10K and Bitcoin dominance falls back down to the 30% range or below towards the end of the bullrun. Disclaimer, the above figures are a theoretical best case scenario and are far from financial advice. They are my moonshot estimates which assumes all goes well for the project and the wider crypto space.
Website: https://www.lition.io/
CoinGecko: https://www.coingecko.com/en/coins/lition
Medium: https://medium.com/lition-blog

TL;DR

TL;DR: LIT has current real world use which is consistently growing with their P2P energy trading platform and has huge potential with their new L2 protocol for enterprise due to its unique features. They have a close partnership with SAP and are also partnered with Microsoft. Currently around #400 on CMC, my target is for LIT to be top 100 by the end of the bullrun.
Edit: Sorry 4chan, I didn't mean to shill one of your FUDed coins. Lit is a shitcoin scam, ignore this post.
submitted by Tricky_Troll to CryptoMoonShots [link] [comments]

Can Cypherium be My Next Moon Bag After ChainLink !!!

When I first brought my Chainlink in Dec 2018, it was valued at 0.35. I brought 4000 units of Chainlink at 0.35 per coin ( Total Cost $1400). In the coming week, the price crashed to 0.20. Irrespective of taking huge losses, I still didn’t sell my Link as I had trust in the project.
I came across various twitter accounts giving negative predictions about Link and how this can again go down further but I kept HOLDing.
Now you may ask why?
To invest in a project and to understand its future value, we need to put some efforts to do a little bit of research about the project as well as the impact it can make in the future.
What Is Chainlink
ChainLink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. LINK is the digital asset token used to pay for services on the network.
In the Ethereum Scheme of Things, Chainlink is very important. With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain.
For many of the blockchain protocols out there, oracles like ChainLink will be necessary to access the data that these protocols need to operate. As such, ChainLink is, as it names suggest, the link that connects blockchain to existing infrastructure.
For me, I have understood that Etherum smart contracts have a huge potential, and these smart contracts needed real-time price feed data collected from sources both on and off blockchains. Chainlink was the first mover in this direction and that paid off really well.
I have recently sold the bulk of my LINK portfolio in the recent pump. This is not because I don’t see any future with LINK, But I feel i can generate more profits with new projects
I Belive in HOLDing. If I break down my portfolio, 80% of them are long HOLDs. 20% of them are for gamble the uniswap shit/farmcoin frenzy. I belive these Quick Rich projects that come out daily will continue for couple of months. After that what can survive are the projects that have solid base with future outlook.
Central Bank Digital Currency — The next big thing !!
Recently Philadelphia’s Federal Reserve bank president Patrick Harker came out with a remarkable statement that it is “inevitable” for the central banks, including the U.S. Federal Reserve, to start issuing digital currency. This is a great leap for blockchain from being labeled as a Ponzi in the past and now attaining a status of legitimacy.
As per a research report published by Bank for International Settlements (BIS), 70% of banks are engaged in or about to start CBDC work, and of these more than half are exploring both general purpose and wholesale CBDCs.
Lets first have a look into the concept of digital currency. As defined by IBM
A central bank digital currency is a digital extension of a central bank’s medium of exchangeable to permanently settle transactions between parties. The central bank is able to remove credit risk and ensure stability by guaranteeing the value of the CBDC with blockchain, exactly like paper money.
The present concept of CBDCs was directly inspired by Bitcoin, but CBDC is different from virtual currency and cryptocurrency, which are not issued by the state and lack the legal tender status declared by the government. Proposed implementations may not even use any sort of distributed ledger
In the beginning, CBDC was a slow-moving project. With the arrival of Facebook LIBRA, the development of CBDC became a high priority for Most of the nations. This is how I came across Cypherium.
Cypherium
Cypherium is an enterprise-ready blockchain project, which is designed to be highly scalable and robust which utilizes a hybrid design that features a joint Proof-of-Work (PoW) and HotStuff (Also adopted by Facebook’s Libra) consensus mechanism that can allegedly achieve thousands of transactions per second without sacrificing decentralization. Cypherium is designed in such a way to focuses on achieving scalability, decentralization, and commercialization viability.
If you want to have a detailed read about the project, you can read here
Can Cypherium pull a LINK performance?
For me, Yes. Why? .
I base my argument on the belief that I will be holding this project for at least a couple of months to come. These are not quick buy- sell that you can make an instant profit/loss
📷 If you want to make good profits (10–15x in NOOBS term), the best option is to have your entry in the beginning. Either you have to get the tokens in ICO or wait for the listing and time your entry (Most the quick flippers sell their token which will lead to massive price drops).
Once the dust settles, most of the projects go through an accumulation phase, and once it gains enough goodwill in the market it booms. Chainlink was trading in the range $.20 to $ .30 for a couple of months and now it’s trading at $13– $15. It took almost 2 years for LINK to reach here , Hope you got the point
📷 LINK was the first mover when it came to Oracles. Similarly, When it comes to CBDC, Cypherium has the edge. Cypherium has formed a Thinktank called Official Forum of Monetary and Financial Institutions (OMFIF) which is now leading research and development in the field of CBDC.
Most of the leading Central Banks are part of the initiative and it is expected that all these CBDC, if launched, will be running on Cypherium blockchain (High Chances). That means huge goodwill for the project, Huge upside for the CPT coins
📷 One of the greatest strengths of LINK is its partnerships. Similar to LINK Cypherium has already made Cypherium Enterprise available as Blockchain-as-a-Service for enterprise customers through the stack platforms of Google, Amazon, Microsoft, and IBM.
Cypherium is already a part of IC3 alliance in which Chainlink is also a part of. This means again more positive for the project to go up
All of these are my assumptions. This can even go wrong. But that the risk I am willing to take.I am sure this will pay off very positively for me
submitted by CypheriumCommunity to u/CypheriumCommunity [link] [comments]

04-26 06:54 - 'Gary again, who can't buy BTC, i have an offer! No scam.' (self.Bitcoin) by /u/GarySei removed from /r/Bitcoin within 17-27min

'''
Too many people approached me to buy btc for me but ask me to buy sth for them first.
I am appreciated by the help but using my money first paranoid me. Sorry.
I have a company in Myanmar which is web design and development services.
As in covid 19 time, i have no clients recently and i have an excess hosting that is unlimited plan.
Here is the deal i am gonna propose to you :

- I will provide you a hosting only for WordPress cuz my cpanel is access and manage only by one account so i can only give you WordPress admin panel.

- Hosting is A2 Hosting and Hostinger Cloud Hosting.

- Hostinger Cloud will be more expensive than A2 cuz A2 is share unlimited and Hostinger cloud is cloud limited hosting.

- You must have a domain bought and ready (to point your domain to my hosting, not transfer your domain name , you have own control of your name even if you point it to my hosting).
- Hosting plan can be vary from 100 MB to 10 GB per website.
- You point your domain to our hosting , i will create WP basic site for you , and you send me BTC.
- Yes, you don't need to send me first, but i will delete the hosting if the allowed time to send BTC is exceeded.
- Prices can be bid below.
- Highest bidder will be sold.
- I won't allow scam , ponzi, bitcoin doubler , and cloud mining services cuz the hosting is under my Company Name .
- Prices from 100 MB hosting will be start from $50 and all hosting plan will be for 1 year.
- Start you bid now !

Thank you !
'''
Gary again, who can't buy BTC, i have an offer! No scam.
Go1dfish undelete link
unreddit undelete link
Author: GarySei
submitted by removalbot to removalbot [link] [comments]

r/Bitcoin recap - June 2019

Hi Bitcoiners!
I’m back with the 30th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in May 2019
Adoption
Development
Security
Mining
Business
Research
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

The Biggest Scams In The Crypto History

The cryptocurrency market is often compared to the Wild West. Digital gold, lawlessness, and unlimited Internet space attract not only honest people but also rascals. Today we will show you the loudest scam projects and cyber-attacks that seriously shattered the crypto society.
PayCoin
A mix of cloud mining and Ponzi scheme, which was promoted by Geniuses at Work Corporation Miners (GAW) in 2014. These guys make the first move by renting and selling virtual HashSet miners, which helped them form a loyal audience. Seeing that this project began to go down, the team decided to invent their own coin — PayCoin. People were promised a breakthrough technology, support from banks and other organizations, huge profits, free and fast transactions all around the world. As a result, the project started just awesome, which attracted the attention of a large number of miners and users. As you can guess all creators’ promises didn’t come true — Paycoin started to fall and users filed a lot of court complaint.
In the fall of 2018, the creator of PayCoin, Joshua Garza, was sentenced to 21 months in prison, obliging investors to pay damages of $9.2 million, although the total amount of financial investments was over $54 million.
BitConnect
Do you know how to tell that you’re participating in a scam? Just start with “Wasa Wasa Wasup BitConnect” as Carlos Matos did. BitConnect platform appeared in 2016 and immediately announced its intention to join the elite of the digital economy, bringing super-profits to all project participants without exception. The essence of the criminal scheme was simple: “Invest and get 100% and more.” The organizers promised investors an income of 365% per year! After the enormous excitement of the crypto market, the cost of the BitConnect token was equal to $463. This attracted the attention of reputable persons like Mike Novogratz, Charlie Lee, and Vitalik Buterin. For example, the creator of Litecoin — Charlie Lee — twitted the following:
“From the surface, BitConnect seems like a classic Ponzi scheme. I wouldn’t invest in it and wouldn’t recommend anyone else to.”
But even after such concerns, many people continued to invest in BitConnect. However, in early January 2018, the project unexpectedly turned down all of the activities and closed its platform. Investors were left with nothing. According to general estimates, the investors were deceived for more than $2.5 billion! In the summer of 2018, the head of Bitconnect India Divyesh Darji was arrested.
Beware that on July 1, 2019, a project Bitconnect 2.0 can be launched according to the news posted on Twitterby the same-named user.
Ifan and Pincoin
Start-ups Ifan and Pincoin, owned by the Vietnamese company Modern Tech, raised a whopping $660 million from approximately 32.000 people. The majority of the victims were the citizens of Vietnam. This scam project was labeled the “largest exit scam in recent memory” by TechCrunch.Project’s marketing strategy was so perfect that it was impossible to resist. So Ifan was promoted as “the most advanced social network” for celebrities and their fans. On the other side, Pincoin attracted investors with a promised investment return of 40% per month. The creators of Pincoin wrote about the development of an online platform covering an advertising network, a service for auctions, an investment portal, and P2P platform based on the blockchain.
But in fact both ICOs used a Ponzi scheme: users invested money, received their interest, brought friends and received additional interest. After some time, Modern Tech stopped paying out dividends in fiat and invited users to switch to their own tokens. As a result, they just made a fool of the investors.
This provoked massive rallies in front of the Modern Tech office, during which investors demanded a refund. But the scammers just escaped into the night with a $660 million jackpot.
Mt.Gox
In 2014 Mt.Gox exchange platform was one of the most popular resources for Bitcoin trading: it accounted for more than 70% of all transactions with BTC. A real tidbit, isn’t it?
Unfortunately, Mt.Gox was slowly turning into chaos. In the fall of 2013, US federal agents collected $5 million from the company’s bank account, since Mt.Gox was not registered as a financial intermediary. At the same time, Coinlab, the company’s former partner, filed a lawsuit against Mt.Gox, demanding $75 million. The lawsuit stated that Mt.Gox violated the terms of the agreement with Coinlab and continued to trade in the United States and Canada.
These problems led to failures with the platform. For example, American users waited for months to withdraw funds. In February 2014, Mt.Gox stopped the withdrawal of coins at all and the CEO of Mt.Gox — Mark Karpeles — refused to give any comments. Around the same time, an internal company document became available to the press explaining the reason for the failures — over the past several years around BTC 745,000 were stolen from the service. The total amount worth around $450 million at the time! What’s more, this was approximately 7% of all Bitcoin existing at the time.
“Even the sloppiest of audits should have shown that something had gone wrong, that money was flowing out of Gox accounts.” — The Verge.
Later the 200,000 stolen Bitcoins was found on an old wallet of the company. However, approximately 650,000 remain lost forever. According to Mt.Gox version, hackers used a bug in the transaction system that existed from the first day and quietly transferred small amounts of coins to their wallets. For sure the Mt. Gox case is the biggest crypto heist in history.No doubts, scam projects, and hack attacks will continue to emerge in a crypto world. Unfortunately, there is no universal remedy from them, but here are a few tips on how to reduce the risks of being scammed:
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us onMedium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to dogecoin [link] [comments]

The Biggest Scams In The Crypto History

The cryptocurrency market is often compared to the Wild West. Digital gold, lawlessness, and unlimited Internet space attract not only honest people but also rascals. Today we will show you the loudest scam projects and cyber-attacks that seriously shattered the crypto society.
PayCoin
A mix of cloud mining and Ponzi scheme, which was promoted by Geniuses at Work Corporation Miners (GAW) in 2014. These guys make the first move by renting and selling virtual HashSet miners, which helped them form a loyal audience. Seeing that this project began to go down, the team decided to invent their own coin — PayCoin. People were promised a breakthrough technology, support from banks and other organizations, huge profits, free and fast transactions all around the world. As a result, the project started just awesome, which attracted the attention of a large number of miners and users. As you can guess all creators’ promises didn’t come true — Paycoin started to fall and users filed a lot of court complaint.
In the fall of 2018, the creator of PayCoin, Joshua Garza, was sentenced to 21 months in prison, obliging investors to pay damages of $9.2 million, although the total amount of financial investments was over $54 million.
BitConnect
Do you know how to tell that you’re participating in a scam? Just start with “Wasa Wasa Wasup BitConnect” as Carlos Matos did. BitConnect platform appeared in 2016 and immediately announced its intention to join the elite of the digital economy, bringing super-profits to all project participants without exception. The essence of the criminal scheme was simple: “Invest and get 100% and more.” The organizers promised investors an income of 365% per year! After the enormous excitement of the crypto market, the cost of the BitConnect token was equal to $463. This attracted the attention of reputable persons like Mike Novogratz, Charlie Lee, and Vitalik Buterin. For example, the creator of Litecoin — Charlie Lee — twitted the following:
“From the surface, BitConnect seems like a classic Ponzi scheme. I wouldn’t invest in it and wouldn’t recommend anyone else to.”
But even after such concerns, many people continued to invest in BitConnect. However, in early January 2018, the project unexpectedly turned down all of the activities and closed its platform. Investors were left with nothing. According to general estimates, the investors were deceived for more than $2.5 billion! In the summer of 2018, the head of Bitconnect India Divyesh Darji was arrested.
Beware that on July 1, 2019, a project Bitconnect 2.0 can be launched according to the news posted on Twitterby the same-named user.
Ifan and Pincoin
Start-ups Ifan and Pincoin, owned by the Vietnamese company Modern Tech, raised a whopping $660 million from approximately 32.000 people. The majority of the victims were the citizens of Vietnam. This scam project was labeled the “largest exit scam in recent memory” by TechCrunch.Project’s marketing strategy was so perfect that it was impossible to resist. So Ifan was promoted as “the most advanced social network” for celebrities and their fans. On the other side, Pincoin attracted investors with a promised investment return of 40% per month. The creators of Pincoin wrote about the development of an online platform covering an advertising network, a service for auctions, an investment portal, and P2P platform based on the blockchain.
But in fact both ICOs used a Ponzi scheme: users invested money, received their interest, brought friends and received additional interest. After some time, Modern Tech stopped paying out dividends in fiat and invited users to switch to their own tokens. As a result, they just made a fool of the investors.
This provoked massive rallies in front of the Modern Tech office, during which investors demanded a refund. But the scammers just escaped into the night with a $660 million jackpot.
Mt.Gox
In 2014 Mt.Gox exchange platform was one of the most popular resources for Bitcoin trading: it accounted for more than 70% of all transactions with BTC. A real tidbit, isn’t it?
Unfortunately, Mt.Gox was slowly turning into chaos. In the fall of 2013, US federal agents collected $5 million from the company’s bank account, since Mt.Gox was not registered as a financial intermediary. At the same time, Coinlab, the company’s former partner, filed a lawsuit against Mt.Gox, demanding $75 million. The lawsuit stated that Mt.Gox violated the terms of the agreement with Coinlab and continued to trade in the United States and Canada.
These problems led to failures with the platform. For example, American users waited for months to withdraw funds. In February 2014, Mt.Gox stopped the withdrawal of coins at all and the CEO of Mt.Gox — Mark Karpeles — refused to give any comments. Around the same time, an internal company document became available to the press explaining the reason for the failures — over the past several years around BTC 745,000 were stolen from the service. The total amount worth around $450 million at the time! What’s more, this was approximately 7% of all Bitcoin existing at the time.
“Even the sloppiest of audits should have shown that something had gone wrong, that money was flowing out of Gox accounts.” — The Verge.
Later the 200,000 stolen Bitcoins was found on an old wallet of the company. However, approximately 650,000 remain lost forever. According to Mt.Gox version, hackers used a bug in the transaction system that existed from the first day and quietly transferred small amounts of coins to their wallets. For sure the Mt. Gox case is the biggest crypto heist in history.No doubts, scam projects, and hack attacks will continue to emerge in a crypto world. Unfortunately, there is no universal remedy from them, but here are a few tips on how to reduce the risks of being scammed:
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us onMedium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to Bitcoin [link] [comments]

Common Bitcoin Scams And How To Avoid Them

As the popularity of cryptocurrencies is increasing with every year, more and more scammers appear around it. Therefore, it is very important to protect yourself from any kind of fraud in the crypto world. Here are the most popular ways of Bitcoin scams and our tips on how to avoid them. Forewarned is forearmed!
1. Pyramid (or Ponzi) schemes
In this case, users can be lured by promises of incredibly high profits at extremely low investments. Here’s how a classical pyramid scheme works: the first investors attract new people from which receive profiteering. And when the flow of the new investors falls, the pyramid collapses.
How not to fall for a pyramid scam:
2. Scams with fake wallets and exchangers
Here we are talking about fraudulent sites. Some pretend to be Bitcoin wallets, some look like exchanges, some are kind of both at once. Usually, sometime after registration, they work normally to put off your guard and earn trust. You peacefully deposit your crypto, the funds in the account accumulate — and the scammers vanish with your currency.
How not to fall for a scam:
3. Cloud mining
The mining process requires good and expensive computer equipment, so some people offer “mining for rent” on their equipment. There are some legal cloud mining services that let users rent server space to mine coins. On the other hand, there are also plenty of cloud mining scams out there.
How not to fall for a mining scam and be sure that service is legitimate:
4. Malware
This type of fraud has long been a weapon in the armory of online scammers. Malware in a crypto world is created to get access to your wallet and drain your account, monitor the Windows clipboard for crypto addresses and swap your valid address with an address of a scammer.
How not to fall for malware scams:
5. Phishing
The typical phishing scheme is extremely simple. The scammer sends the user an e-mail from the so-called crypto exchange or wallet provider in which the lurcher places a link to the fake website. The main goal is to force the user to go to the fake page and enter personal data (username, password, private key and so on). This confidential information allows theft to access the original website on behalf of the real user and walk away with the user’s currency.
How not to fall for phishing scams:
You should remember that the risks of scam and speculations are everywhere. Make reasonable investments and never take big risks. And finally, guards up by following our pieces of advice.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to Bitcoin [link] [comments]

The Biggest Scams In The Crypto History

The cryptocurrency market is often compared to the Wild West. Digital gold, lawlessness, and unlimited Internet space attract not only honest people but also rascals. Today we will show you the loudest scam projects and cyber-attacks that seriously shattered the crypto society.
PayCoin
A mix of cloud mining and Ponzi scheme, which was promoted by Geniuses at Work Corporation Miners (GAW) in 2014. These guys make the first move by renting and selling virtual HashSet miners, which helped them form a loyal audience. Seeing that this project began to go down, the team decided to invent their own coin — PayCoin. People were promised a breakthrough technology, support from banks and other organizations, huge profits, free and fast transactions all around the world. As a result, the project started just awesome, which attracted the attention of a large number of miners and users. As you can guess all creators’ promises didn’t come true — Paycoin started to fall and users filed a lot of court complaint.
In the fall of 2018, the creator of PayCoin, Joshua Garza, was sentenced to 21 months in prison, obliging investors to pay damages of $9.2 million, although the total amount of financial investments was over $54 million.
BitConnect
Do you know how to tell that you’re participating in a scam? Just start with “Wasa Wasa Wasup BitConnect” as Carlos Matos did. BitConnect platform appeared in 2016 and immediately announced its intention to join the elite of the digital economy, bringing super-profits to all project participants without exception. The essence of the criminal scheme was simple: “Invest and get 100% and more.” The organizers promised investors an income of 365% per year! After the enormous excitement of the crypto market, the cost of the BitConnect token was equal to $463. This attracted the attention of reputable persons like Mike Novogratz, Charlie Lee, and Vitalik Buterin. For example, the creator of Litecoin — Charlie Lee — twitted the following:
“From the surface, BitConnect seems like a classic Ponzi scheme. I wouldn’t invest in it and wouldn’t recommend anyone else to.”
But even after such concerns, many people continued to invest in BitConnect. However, in early January 2018, the project unexpectedly turned down all of the activities and closed its platform. Investors were left with nothing. According to general estimates, the investors were deceived for more than $2.5 billion! In the summer of 2018, the head of Bitconnect India Divyesh Darji was arrested.
Beware that on July 1, 2019, a project Bitconnect 2.0 can be launched according to the news posted on Twitterby the same-named user.
Ifan and Pincoin
Start-ups Ifan and Pincoin, owned by the Vietnamese company Modern Tech, raised a whopping $660 million from approximately 32.000 people. The majority of the victims were the citizens of Vietnam. This scam project was labeled the “largest exit scam in recent memory” by TechCrunch.Project’s marketing strategy was so perfect that it was impossible to resist. So Ifan was promoted as “the most advanced social network” for celebrities and their fans. On the other side, Pincoin attracted investors with a promised investment return of 40% per month. The creators of Pincoin wrote about the development of an online platform covering an advertising network, a service for auctions, an investment portal, and P2P platform based on the blockchain.
But in fact both ICOs used a Ponzi scheme: users invested money, received their interest, brought friends and received additional interest. After some time, Modern Tech stopped paying out dividends in fiat and invited users to switch to their own tokens. As a result, they just made a fool of the investors.
This provoked massive rallies in front of the Modern Tech office, during which investors demanded a refund. But the scammers just escaped into the night with a $660 million jackpot.
Mt.Gox
In 2014 Mt.Gox exchange platform was one of the most popular resources for Bitcoin trading: it accounted for more than 70% of all transactions with BTC. A real tidbit, isn’t it?
Unfortunately, Mt.Gox was slowly turning into chaos. In the fall of 2013, US federal agents collected $5 million from the company’s bank account, since Mt.Gox was not registered as a financial intermediary. At the same time, Coinlab, the company’s former partner, filed a lawsuit against Mt.Gox, demanding $75 million. The lawsuit stated that Mt.Gox violated the terms of the agreement with Coinlab and continued to trade in the United States and Canada.
These problems led to failures with the platform. For example, American users waited for months to withdraw funds. In February 2014, Mt.Gox stopped the withdrawal of coins at all and the CEO of Mt.Gox — Mark Karpeles — refused to give any comments. Around the same time, an internal company document became available to the press explaining the reason for the failures — over the past several years around BTC 745,000 were stolen from the service. The total amount worth around $450 million at the time! What’s more, this was approximately 7% of all Bitcoin existing at the time.
“Even the sloppiest of audits should have shown that something had gone wrong, that money was flowing out of Gox accounts.” — The Verge.
Later the 200,000 stolen Bitcoins was found on an old wallet of the company. However, approximately 650,000 remain lost forever. According to Mt.Gox version, hackers used a bug in the transaction system that existed from the first day and quietly transferred small amounts of coins to their wallets. For sure the Mt. Gox case is the biggest crypto heist in history.No doubts, scam projects, and hack attacks will continue to emerge in a crypto world. Unfortunately, there is no universal remedy from them, but here are a few tips on how to reduce the risks of being scammed:
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us onMedium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to BitcoinCA [link] [comments]

CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Related Terms
Satoshi
The satoshi is the smallest unit of the bitcoin cryptocurrency. It is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.
Chartalism Chartalism is a non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Satoshi Nakamoto The name used by the unknown creator of the protocol used in the bitcoin cryptocurrency. Satoshi Nakamoto is closely-associated with blockchain technology.
Bitcoin Mining, Explained Breaking down everything you need to know about Bitcoin Mining, from Blockchain and Block Rewards to Proof-of-Work and Mining Pools.
Understanding Bitcoin Unlimited Bitcoin Unlimited is a proposed upgrade to Bitcoin Core that allows larger block sizes. The upgrade is designed to improve transaction speed through scale.
Blockchain Explained
A guide to help you understand what blockchain is and how it can be used by industries. You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.
Top 6 Books to Learn About Bitcoin About UsAdvertiseContactPrivacy PolicyTerms of UseCareers Investopedia is part of the Dotdash publishing family.The Balance Lifewire TripSavvy The Spruceand more
By Satoshi Nakamoto
Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

submitted by adrian_morrison to BlockchainNews [link] [comments]

The Biggest Scams In The Crypto History

The cryptocurrency market is often compared to the Wild West. Digital gold, lawlessness, and unlimited Internet space attract not only honest people but also rascals. Today we will show you the loudest scam projects and cyber-attacks that seriously shattered the crypto society.
PayCoin
A mix of cloud mining and Ponzi scheme, which was promoted by Geniuses at Work Corporation Miners (GAW) in 2014. These guys make the first move by renting and selling virtual HashSet miners, which helped them form a loyal audience. Seeing that this project began to go down, the team decided to invent their own coin — PayCoin. People were promised a breakthrough technology, support from banks and other organizations, huge profits, free and fast transactions all around the world. As a result, the project started just awesome, which attracted the attention of a large number of miners and users. As you can guess all creators’ promises didn’t come true — Paycoin started to fall and users filed a lot of court complaint.
In the fall of 2018, the creator of PayCoin, Joshua Garza, was sentenced to 21 months in prison, obliging investors to pay damages of $9.2 million, although the total amount of financial investments was over $54 million.
BitConnect
Do you know how to tell that you’re participating in a scam? Just start with “Wasa Wasa Wasup BitConnect” as Carlos Matos did. BitConnect platform appeared in 2016 and immediately announced its intention to join the elite of the digital economy, bringing super-profits to all project participants without exception. The essence of the criminal scheme was simple: “Invest and get 100% and more.” The organizers promised investors an income of 365% per year! After the enormous excitement of the crypto market, the cost of the BitConnect token was equal to $463. This attracted the attention of reputable persons like Mike Novogratz, Charlie Lee, and Vitalik Buterin. For example, the creator of Litecoin — Charlie Lee — twitted the following:
“From the surface, BitConnect seems like a classic Ponzi scheme. I wouldn’t invest in it and wouldn’t recommend anyone else to.”
But even after such concerns, many people continued to invest in BitConnect. However, in early January 2018, the project unexpectedly turned down all of the activities and closed its platform. Investors were left with nothing. According to general estimates, the investors were deceived for more than $2.5 billion! In the summer of 2018, the head of Bitconnect India Divyesh Darji was arrested.
Beware that on July 1, 2019, a project Bitconnect 2.0 can be launched according to the news posted on Twitterby the same-named user.
Ifan and Pincoin
Start-ups Ifan and Pincoin, owned by the Vietnamese company Modern Tech, raised a whopping $660 million from approximately 32.000 people. The majority of the victims were the citizens of Vietnam. This scam project was labeled the “largest exit scam in recent memory” by TechCrunch.Project’s marketing strategy was so perfect that it was impossible to resist. So Ifan was promoted as “the most advanced social network” for celebrities and their fans. On the other side, Pincoin attracted investors with a promised investment return of 40% per month. The creators of Pincoin wrote about the development of an online platform covering an advertising network, a service for auctions, an investment portal, and P2P platform based on the blockchain.
But in fact both ICOs used a Ponzi scheme: users invested money, received their interest, brought friends and received additional interest. After some time, Modern Tech stopped paying out dividends in fiat and invited users to switch to their own tokens. As a result, they just made a fool of the investors.
This provoked massive rallies in front of the Modern Tech office, during which investors demanded a refund. But the scammers just escaped into the night with a $660 million jackpot.
Mt.Gox
In 2014 Mt.Gox exchange platform was one of the most popular resources for Bitcoin trading: it accounted for more than 70% of all transactions with BTC. A real tidbit, isn’t it?
Unfortunately, Mt.Gox was slowly turning into chaos. In the fall of 2013, US federal agents collected $5 million from the company’s bank account, since Mt.Gox was not registered as a financial intermediary. At the same time, Coinlab, the company’s former partner, filed a lawsuit against Mt.Gox, demanding $75 million. The lawsuit stated that Mt.Gox violated the terms of the agreement with Coinlab and continued to trade in the United States and Canada.
These problems led to failures with the platform. For example, American users waited for months to withdraw funds. In February 2014, Mt.Gox stopped the withdrawal of coins at all and the CEO of Mt.Gox — Mark Karpeles — refused to give any comments. Around the same time, an internal company document became available to the press explaining the reason for the failures — over the past several years around BTC 745,000 were stolen from the service. The total amount worth around $450 million at the time! What’s more, this was approximately 7% of all Bitcoin existing at the time.
“Even the sloppiest of audits should have shown that something had gone wrong, that money was flowing out of Gox accounts.” — The Verge.
Later the 200,000 stolen Bitcoins was found on an old wallet of the company. However, approximately 650,000 remain lost forever. According to Mt.Gox version, hackers used a bug in the transaction system that existed from the first day and quietly transferred small amounts of coins to their wallets. For sure the Mt. Gox case is the biggest crypto heist in history.No doubts, scam projects, and hack attacks will continue to emerge in a crypto world. Unfortunately, there is no universal remedy from them, but here are a few tips on how to reduce the risks of being scammed:
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us onMedium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to CryptoCurrencyTrading [link] [comments]

Real or scam?

Warning! Cloud mining is VERY risky - do not invest more than you can afford to lose.
Last Update: 14th April 2018
 
We all know that cloud mining is the latest and greatest way to scam unsuspecting users. Below is a list of cloud mining sites and their current status - at least as far as we can tell.
Please comment below if you would like a site added to this list. Note comments with referral codes will be deleted.
 

REAL

These are sites that are probably real.
Name Status Comments
HashFlare Accepting contracts Proven many times over
Genesis Mining No more contacts Proven many times over
Hashing 24 No more contracts Needs a recent confirmation
 

NOT SURE

These are sites that can't be confirmed either way... invest with caution!
Name Status Comments
Krambu ETH contracts only Looks legit - some positive comments from members of this sub too... could be worth a look.
Bitcoin Pool ? Looks real, but expensive
Hash Nest Accepting contracts This one is strange, it seems to be some collaboration with Bitmain
Bit Club Accepting contracts A Redditor pointed out today that Bit Club is actually one of the larger mining pools which helps add some legitimacy - however we still dont have confirmation from anyone that they have mined and withdrawn from the cloud mining service that they offer... and they dont have any contact details on their page. Additional note that they do not allow customers from USA
CCG Mining Accepting contracts New co, looks legit and has support from some Redditors. Also positive feedback on Twitter. Good Roi, negative is pays out monthly (small price to pay for good Roi if legit).
Cryptomining.Farm Accepting contracts Based in Thailand, contact details on website... very limited information on the website
Genius Cloud Accepting contracts Reddit users say its paying, however use extreme caution as it looks very suspect
Swiss Gold Global scam Confirmed as scam by a redditor, then contested by another... unsure at this stage.
 

SCAM

These are sites that are scams.
Name Status Comments
E&E Mining Online No contact details on their website
5 Star Mining Gone No contact details on their website - A Redditor reported that they have been scammed by this one
Omnia Tech Accepting contracts New "company", claims to have launched in Sept 17. No contact details on website. Links to Google Drive for documents (very weird). Broken links all over website. This is going straight to the scam section.
Sun Mining Accepting contracts Claims to be an Australian company, however there is no business registered with this name in Australia. Also no contact details on their website... I'm pretty sure this is a scam.
Myeasymine new site Definitely a scam
Hash55.com new site Reported as scam
World Mining new site Totally unrealistic ROI, totally dumb, don't even....
Hash Powers new site Super obvious, dont even
Antmine Cloud new site Obvious scam
Primebit new site Obvious scam - 3000% ROI! Twats.
Speedmine New Scam
Cloudminer.bz Ponzi Scam
Desmine.cc Scam Scam
MinerGate Accepting contracts Hidden domain registration, no contact details on website
Power Mining Pool Scam Scam
wormminer.com Scam Scam
Costa Nord Mine New Very limited details on site
Vozex New Confirmed as scam by Redditor
Elder Hash Scam Scam
Oasis Mining Scam Scam
My Coin Cloud Scam Scam
Micro BTC Scam Scam
Zelius scam scam
Desmine Scam Scam
Buda-Mine Scam Scam
MinerFarm Scam All the classic signs of a scam, no contact details, template site, free mining power etc
TeraBox Scam All the classic signs of a scam
 

GONE

Name Status
Dovera Hash Gone
Fflak Mining Gone
Azuremining Gone
Next Innovation Gone
HashZone.io Gone
Space Mining Gone
Crypterra Gone
Assono Gone
Zoxtel Gone
Eken.io Gone
submitted by ledgerous to cloudmining [link] [comments]

The Biggest Scams In The Crypto History

The cryptocurrency market is often compared to the Wild West. Digital gold, lawlessness, and unlimited Internet space attract not only honest people but also rascals. Today we will show you the loudest scam projects and cyber-attacks that seriously shattered the crypto society.
PayCoin
A mix of cloud mining and Ponzi scheme, which was promoted by Geniuses at Work Corporation Miners (GAW) in 2014. These guys make the first move by renting and selling virtual HashSet miners, which helped them form a loyal audience. Seeing that this project began to go down, the team decided to invent their own coin — PayCoin. People were promised a breakthrough technology, support from banks and other organizations, huge profits, free and fast transactions all around the world. As a result, the project started just awesome, which attracted the attention of a large number of miners and users. As you can guess all creators’ promises didn’t come true — Paycoin started to fall and users filed a lot of court complaint.
In the fall of 2018, the creator of PayCoin, Joshua Garza, was sentenced to 21 months in prison, obliging investors to pay damages of $9.2 million, although the total amount of financial investments was over $54 million.
BitConnect
Do you know how to tell that you’re participating in a scam? Just start with “Wasa Wasa Wasup BitConnect” as Carlos Matos did. BitConnect platform appeared in 2016 and immediately announced its intention to join the elite of the digital economy, bringing super-profits to all project participants without exception. The essence of the criminal scheme was simple: “Invest and get 100% and more.” The organizers promised investors an income of 365% per year! After the enormous excitement of the crypto market, the cost of the BitConnect token was equal to $463. This attracted the attention of reputable persons like Mike Novogratz, Charlie Lee, and Vitalik Buterin. For example, the creator of Litecoin — Charlie Lee — twitted the following:
“From the surface, BitConnect seems like a classic Ponzi scheme. I wouldn’t invest in it and wouldn’t recommend anyone else to.”
But even after such concerns, many people continued to invest in BitConnect. However, in early January 2018, the project unexpectedly turned down all of the activities and closed its platform. Investors were left with nothing. According to general estimates, the investors were deceived for more than $2.5 billion! In the summer of 2018, the head of Bitconnect India Divyesh Darji was arrested.
Beware that on July 1, 2019, a project Bitconnect 2.0 can be launched according to the news posted on Twitterby the same-named user.
Ifan and Pincoin
Start-ups Ifan and Pincoin, owned by the Vietnamese company Modern Tech, raised a whopping $660 million from approximately 32.000 people. The majority of the victims were the citizens of Vietnam. This scam project was labeled the “largest exit scam in recent memory” by TechCrunch.Project’s marketing strategy was so perfect that it was impossible to resist. So Ifan was promoted as “the most advanced social network” for celebrities and their fans. On the other side, Pincoin attracted investors with a promised investment return of 40% per month. The creators of Pincoin wrote about the development of an online platform covering an advertising network, a service for auctions, an investment portal, and P2P platform based on the blockchain.
But in fact both ICOs used a Ponzi scheme: users invested money, received their interest, brought friends and received additional interest. After some time, Modern Tech stopped paying out dividends in fiat and invited users to switch to their own tokens. As a result, they just made a fool of the investors.
This provoked massive rallies in front of the Modern Tech office, during which investors demanded a refund. But the scammers just escaped into the night with a $660 million jackpot.
Mt.Gox
In 2014 Mt.Gox exchange platform was one of the most popular resources for Bitcoin trading: it accounted for more than 70% of all transactions with BTC. A real tidbit, isn’t it?
Unfortunately, Mt.Gox was slowly turning into chaos. In the fall of 2013, US federal agents collected $5 million from the company’s bank account, since Mt.Gox was not registered as a financial intermediary. At the same time, Coinlab, the company’s former partner, filed a lawsuit against Mt.Gox, demanding $75 million. The lawsuit stated that Mt.Gox violated the terms of the agreement with Coinlab and continued to trade in the United States and Canada.
These problems led to failures with the platform. For example, American users waited for months to withdraw funds. In February 2014, Mt.Gox stopped the withdrawal of coins at all and the CEO of Mt.Gox — Mark Karpeles — refused to give any comments. Around the same time, an internal company document became available to the press explaining the reason for the failures — over the past several years around BTC 745,000 were stolen from the service. The total amount worth around $450 million at the time! What’s more, this was approximately 7% of all Bitcoin existing at the time.
“Even the sloppiest of audits should have shown that something had gone wrong, that money was flowing out of Gox accounts.” — The Verge.
Later the 200,000 stolen Bitcoins was found on an old wallet of the company. However, approximately 650,000 remain lost forever. According to Mt.Gox version, hackers used a bug in the transaction system that existed from the first day and quietly transferred small amounts of coins to their wallets. For sure the Mt. Gox case is the biggest crypto heist in history.No doubts, scam projects, and hack attacks will continue to emerge in a crypto world. Unfortunately, there is no universal remedy from them, but here are a few tips on how to reduce the risks of being scammed:
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us onMedium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to btc [link] [comments]

Common Bitcoin Scams And How To Avoid Them

As the popularity of cryptocurrencies is increasing with every year, more and more scammers appear around it. Therefore, it is very important to protect yourself from any kind of fraud in the crypto world. Here are the most popular ways of Bitcoin scams and our tips on how to avoid them. Forewarned is forearmed!
1. Pyramid (or Ponzi) schemes
In this case, users can be lured by promises of incredibly high profits at extremely low investments. Here’s how a classical pyramid scheme works: the first investors attract new people from which receive profiteering. And when the flow of the new investors falls, the pyramid collapses.
How not to fall for a pyramid scam:
2. Scams with fake wallets and exchangers
Here we are talking about fraudulent sites. Some pretend to be Bitcoin wallets, some look like exchanges, some are kind of both at once. Usually, sometime after registration, they work normally to put off your guard and earn trust. You peacefully deposit your crypto, the funds in the account accumulate — and the scammers vanish with your currency.
How not to fall for a scam:
3. Cloud mining
The mining process requires good and expensive computer equipment, so some people offer “mining for rent” on their equipment. There are some legal cloud mining services that let users rent server space to mine coins. On the other hand, there are also plenty of cloud mining scams out there.
How not to fall for a mining scam and be sure that service is legitimate:
4. Malware
This type of fraud has long been a weapon in the armory of online scammers. Malware in a crypto world is created to get access to your wallet and drain your account, monitor the Windows clipboard for crypto addresses and swap your valid address with an address of a scammer.
How not to fall for malware scams:
5. Phishing
The typical phishing scheme is extremely simple. The scammer sends the user an e-mail from the so-called crypto exchange or wallet provider in which the lurcher places a link to the fake website. The main goal is to force the user to go to the fake page and enter personal data (username, password, private key and so on). This confidential information allows theft to access the original website on behalf of the real user and walk away with the user’s currency.
How not to fall for phishing scams:
You should remember that the risks of scam and speculations are everywhere. Make reasonable investments and never take big risks. And finally, guards up by following our pieces of advice.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to CryptoCurrencies [link] [comments]

Common Bitcoin Scams And How To Avoid Them

As the popularity of cryptocurrencies is increasing with every year, more and more scammers appear around it. Therefore, it is very important to protect yourself from any kind of fraud in the crypto world. Here are the most popular ways of Bitcoin scams and our tips on how to avoid them. Forewarned is forearmed!
1. Pyramid (or Ponzi) schemes
In this case, users can be lured by promises of incredibly high profits at extremely low investments. Here’s how a classical pyramid scheme works: the first investors attract new people from which receive profiteering. And when the flow of the new investors falls, the pyramid collapses.
How not to fall for a pyramid scam:
2. Scams with fake wallets and exchangers
Here we are talking about fraudulent sites. Some pretend to be Bitcoin wallets, some look like exchanges, some are kind of both at once. Usually, sometime after registration, they work normally to put off your guard and earn trust. You peacefully deposit your crypto, the funds in the account accumulate — and the scammers vanish with your currency.
How not to fall for a scam:
3. Cloud mining
The mining process requires good and expensive computer equipment, so some people offer “mining for rent” on their equipment. There are some legal cloud mining services that let users rent server space to mine coins. On the other hand, there are also plenty of cloud mining scams out there.
How not to fall for a mining scam and be sure that service is legitimate:
4. Malware
This type of fraud has long been a weapon in the armory of online scammers. Malware in a crypto world is created to get access to your wallet and drain your account, monitor the Windows clipboard for crypto addresses and swap your valid address with an address of a scammer.
How not to fall for malware scams:
5. Phishing
The typical phishing scheme is extremely simple. The scammer sends the user an e-mail from the so-called crypto exchange or wallet provider in which the lurcher places a link to the fake website. The main goal is to force the user to go to the fake page and enter personal data (username, password, private key and so on). This confidential information allows theft to access the original website on behalf of the real user and walk away with the user’s currency.
How not to fall for phishing scams:
You should remember that the risks of scam and speculations are everywhere. Make reasonable investments and never take big risks. And finally, guards up by following our pieces of advice.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to BitcoinAUS [link] [comments]

Notes from the Hearing Today

Apologies for typos and grammatical errors; wanted to get this out as soon as possible for those that weren't able to watch the live stream. Cleaned up formatting to make it more readable.

While this isn't a 100% word-for-word transcript, the overtone of the meeting should have been conveyed. SEC and CFTC want protections for consumers, but don't want to outright ban crypto. I was under the impression that both agencies were well-educated, but understaffed. They both want to introduce protections for customers and investors and go after scam artists, but don't want to impose any restrictions or regulations that would be bad for crypto as a whole (both from a security perspective, and a technological innovation perspective). Overall a huge positive.

Crapo
Brown
Clayton
Giancarlo
Crapo
Clayton
Giancarlo
Crapo
Clayton
Giancarlo
Crapo
Brown
Clayton
Brown
Clayton
Brown
Clayton
Brown
Clayton
Brown
Clayton
Brown
Clayton
Sen. Shelby
Clayton
Giancarlo
Sen. Shelby
Clayton
Sen. Shelby
Giancarlo
Clayton
Sen. Shelby
Sen Reed
Clayton
Giancarlo
Sen Reed
Giancarlo
Clayton
Sen Reed
Rounds
Clayton
Rounds
Giancarlo
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Perdue
Clayton
Perdue
Giancarlo
Perdue
Clayton
Giancarlo
Donnelly
Giancarlo
Clayton
Donnelly
Giancarlo
Donnelly
Giancarlo
Clayton
Donnelly
Giancarlo
Clayton
Sen. Kennedy
Giancarlo
Sen Kennedy
Giancarlo
Sen Kennedy
Giancarlo
Sen Kennedy
Clayton
Sen Kennedy
Warner
Clayton
Giancarlo
Warner
Clayton
Warner
Giancarlo
Clayton
Cotton
Giancarlo
Clayton
Cotton
Giancarlo
Clayton
Cotton
Clayton
Cotton
Menendez
Giancarlo
Menendez
Giancarlo
Menendez
Giancarlo
Menendez
Clayton
Menendez
Clayton
Moran
Ms. Masto
Clayton
Giancarlo
Ms. Masto
Clayton
Giancarlo
Ms. Masto
Sen Shelby
Clayton
Sen Shelby
Clayton
Giancarlo
Ms. Warren
Clayton
Ms. Warren
Clayton
Ms. Warren
Clayton
Crapo
submitted by cembry90 to CryptoCurrency [link] [comments]

The Biggest Scams In The Crypto History

The cryptocurrency market is often compared to the Wild West. Digital gold, lawlessness, and unlimited Internet space attract not only honest people but also rascals. Today we will show you the loudest scam projects and cyber-attacks that seriously shattered the crypto society.
PayCoin
A mix of cloud mining and Ponzi scheme, which was promoted by Geniuses at Work Corporation Miners (GAW) in 2014. These guys make the first move by renting and selling virtual HashSet miners, which helped them form a loyal audience. Seeing that this project began to go down, the team decided to invent their own coin — PayCoin. People were promised a breakthrough technology, support from banks and other organizations, huge profits, free and fast transactions all around the world. As a result, the project started just awesome, which attracted the attention of a large number of miners and users. As you can guess all creators’ promises didn’t come true — Paycoin started to fall and users filed a lot of court complaint.
In the fall of 2018, the creator of PayCoin, Joshua Garza, was sentenced to 21 months in prison, obliging investors to pay damages of $9.2 million, although the total amount of financial investments was over $54 million.
BitConnect
Do you know how to tell that you’re participating in a scam? Just start with “Wasa Wasa Wasup BitConnect” as Carlos Matos did. BitConnect platform appeared in 2016 and immediately announced its intention to join the elite of the digital economy, bringing super-profits to all project participants without exception. The essence of the criminal scheme was simple: “Invest and get 100% and more.” The organizers promised investors an income of 365% per year! After the enormous excitement of the crypto market, the cost of the BitConnect token was equal to $463. This attracted the attention of reputable persons like Mike Novogratz, Charlie Lee, and Vitalik Buterin. For example, the creator of Litecoin — Charlie Lee — twitted the following:
“From the surface, BitConnect seems like a classic Ponzi scheme. I wouldn’t invest in it and wouldn’t recommend anyone else to.”
But even after such concerns, many people continued to invest in BitConnect. However, in early January 2018, the project unexpectedly turned down all of the activities and closed its platform. Investors were left with nothing. According to general estimates, the investors were deceived for more than $2.5 billion! In the summer of 2018, the head of Bitconnect India Divyesh Darji was arrested.
Beware that on July 1, 2019, a project Bitconnect 2.0 can be launched according to the news posted on Twitterby the same-named user.
Ifan and Pincoin
Start-ups Ifan and Pincoin, owned by the Vietnamese company Modern Tech, raised a whopping $660 million from approximately 32.000 people. The majority of the victims were the citizens of Vietnam. This scam project was labeled the “largest exit scam in recent memory” by TechCrunch.Project’s marketing strategy was so perfect that it was impossible to resist. So Ifan was promoted as “the most advanced social network” for celebrities and their fans. On the other side, Pincoin attracted investors with a promised investment return of 40% per month. The creators of Pincoin wrote about the development of an online platform covering an advertising network, a service for auctions, an investment portal, and P2P platform based on the blockchain.
But in fact both ICOs used a Ponzi scheme: users invested money, received their interest, brought friends and received additional interest. After some time, Modern Tech stopped paying out dividends in fiat and invited users to switch to their own tokens. As a result, they just made a fool of the investors.
This provoked massive rallies in front of the Modern Tech office, during which investors demanded a refund. But the scammers just escaped into the night with a $660 million jackpot.
Mt.Gox
In 2014 Mt.Gox exchange platform was one of the most popular resources for Bitcoin trading: it accounted for more than 70% of all transactions with BTC. A real tidbit, isn’t it?
Unfortunately, Mt.Gox was slowly turning into chaos. In the fall of 2013, US federal agents collected $5 million from the company’s bank account, since Mt.Gox was not registered as a financial intermediary. At the same time, Coinlab, the company’s former partner, filed a lawsuit against Mt.Gox, demanding $75 million. The lawsuit stated that Mt.Gox violated the terms of the agreement with Coinlab and continued to trade in the United States and Canada.
These problems led to failures with the platform. For example, American users waited for months to withdraw funds. In February 2014, Mt.Gox stopped the withdrawal of coins at all and the CEO of Mt.Gox — Mark Karpeles — refused to give any comments. Around the same time, an internal company document became available to the press explaining the reason for the failures — over the past several years around BTC 745,000 were stolen from the service. The total amount worth around $450 million at the time! What’s more, this was approximately 7% of all Bitcoin existing at the time.
“Even the sloppiest of audits should have shown that something had gone wrong, that money was flowing out of Gox accounts.” — The Verge.
Later the 200,000 stolen Bitcoins was found on an old wallet of the company. However, approximately 650,000 remain lost forever. According to Mt.Gox version, hackers used a bug in the transaction system that existed from the first day and quietly transferred small amounts of coins to their wallets. For sure the Mt. Gox case is the biggest crypto heist in history.No doubts, scam projects, and hack attacks will continue to emerge in a crypto world. Unfortunately, there is no universal remedy from them, but here are a few tips on how to reduce the risks of being scammed:
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us onMedium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to Anarcho_Capitalism [link] [comments]

Common Bitcoin Scams And How To Avoid Them

As the popularity of cryptocurrencies is increasing with every year, more and more scammers appear around it. Therefore, it is very important to protect yourself from any kind of fraud in the crypto world. Here are the most popular ways of Bitcoin scams and our tips on how to avoid them. Forewarned is forearmed!
1. Pyramid (or Ponzi) schemes
In this case, users can be lured by promises of incredibly high profits at extremely low investments. Here’s how a classical pyramid scheme works: the first investors attract new people from which receive profiteering. And when the flow of the new investors falls, the pyramid collapses.
How not to fall for a pyramid scam:
2. Scams with fake wallets and exchangers
Here we are talking about fraudulent sites. Some pretend to be Bitcoin wallets, some look like exchanges, some are kind of both at once. Usually, sometime after registration, they work normally to put off your guard and earn trust. You peacefully deposit your crypto, the funds in the account accumulate — and the scammers vanish with your currency.
How not to fall for a scam:
3. Cloud mining
The mining process requires good and expensive computer equipment, so some people offer “mining for rent” on their equipment. There are some legal cloud mining services that let users rent server space to mine coins. On the other hand, there are also plenty of cloud mining scams out there.
How not to fall for a mining scam and be sure that service is legitimate:
4. Malware
This type of fraud has long been a weapon in the armory of online scammers. Malware in a crypto world is created to get access to your wallet and drain your account, monitor the Windows clipboard for crypto addresses and swap your valid address with an address of a scammer.
How not to fall for malware scams:
5. Phishing
The typical phishing scheme is extremely simple. The scammer sends the user an e-mail from the so-called crypto exchange or wallet provider in which the lurcher places a link to the fake website. The main goal is to force the user to go to the fake page and enter personal data (username, password, private key and so on). This confidential information allows theft to access the original website on behalf of the real user and walk away with the user’s currency.
How not to fall for phishing scams:
You should remember that the risks of scam and speculations are everywhere. Make reasonable investments and never take big risks. And finally, guards up by following our pieces of advice.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to btc [link] [comments]

BIGGEST Chinese Ponzi - Plus Token - Exposed Análise BITSRAPID HYIP, ESQUEMA PONZI, FRAUDE - SCAM Cloud Mining! The Myth of Bitcoin Wealth Concentration  Ponzi Dumps BTC Price  Bitmex Ad Stirs Regulators Bitcoin Flash Crash Caused By $3B PONZI Crypto Wealth Show News Edition. Huge Bitcoin Ponzi Scheme- Walmart Coin Patented - Bakkt

Bitcoin Cloud Services (BCS) Bewertung: Scheint ein $500,000 Ponzi-System-Betrug gewesen zu sein. Zeushash Bewertung: Scheint die Auszahlungen gestoppt zu haben. Bitminer.io Bewertung: Laut Benutzerberichten scheinen die Auszahlungen gestoppt. Kryptowährung Cloud-Mining-Unternehmen. Hashflare Bewertung: Ein estnisches Cloud-Mining-Unternehmen mit SHA-256, Scrypt und Scrypt-N-Optionen, das ... By watching Bitcoin Cloud Services’ payout address, the anonymous source was able to estimate the number of customers receiving payouts, along with BCS’s profits and losses. BCS seems to have started to operate at a loss near the end of April. How did BCS respond? By offering an extra year on their currently available mining contracts. This offer could be an attempt to keep a Ponzi scheme ... Unfortunately, the bitcoin scam can happen to anyone. Fraudulent exchanges, cloud mining services, Ponzi schemes, IPO scams, just to name a few. Services listed below are proven online bitcoin scams – either we were scammed by testing their services or someone else that we know got bitcoins stolen. Do not use these services. PayPal to […] Bitcoin Cloud Mining ist der ideale Weg für Neueinsteiger, die erste Erfahrungen mit dem Minen sammeln möchten, oder aber einfach ihr Krypto-Portfolio diversifizieren möchten. Dabei solltest du immer auf der Hut sein, da sich bekanntlich viele betrügerische Dienstleister in diesem Sektor tummeln. Chinese law enforcement recently busted 72 individuals connected to the Cloud Token (CTO) scam. The Ponzi was similar to the Plustoken fraud and CTO scammers made off with $500 million.

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BIGGEST Chinese Ponzi - Plus Token - Exposed

É um Esquema Ponzi criado em 2016 que promete que os seus membros vão ganhar muito dinheiro e vão recuperar o investimento inicial entre 2 a 4 meses. Prometem que os investimentos são fáceis ... SUPPORT THE SHOW: Visit LEDN to check out getting a bitcoin-backed loan! https://platform.ledn.io/join/0a00cca3dd61dea5909c95cd41f41685 Get NORDVPN to protec... Do you want to know why Bitcoin had a Flash Crash down to $9500? Is it due to the $3B Ponzi Plustoken? Let's take a look and discuss Bitcoin today. Become a CryptosRus INSIDER to gain exclusive ... Plus Token is the Biggest ponzi scheme in China, with over 70,000 BTC ($700,000 Million USD). After missing payments on June 30th of this year, masterminds of this scheme out it out like bandits ... Today on the Crypto Wealth Show, Wam contributor Tim Picciott is joined by the CEO of Flote.app Kingsley Edwards and by the CEO of Be Your Own Vault and inventor of the Phone HODL Juan Galt. A lot ...

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