Scams & Hacks

Bitcoin’s history is rife with scams, ponzi schemes, and fraud.

As SIM swapping has become more prevalent, those holding bitcoin are increasingly susceptible to attack. So how should you protect yourself?
The Rise of SIM Swapping: How and Why Bitcoiners Need to Protect Themselves

As SIM swapping has become more prevalent, those holding bitcoin are increasingly susceptible to attack. So how should you protect yourself?

Chainalysis has traced the PlusToken team’s attempts to sell ill-gotten bitcoin through Huobi OTC desks, potentially influencing the BTC price.
Chainalysis: PlusToken Is Dumping on Huobi OTCs, May Be Eating Into BTC Price

Chainalysis has traced the PlusToken team’s attempts to sell ill-gotten bitcoin through Huobi OTC desks, potentially influencing the BTC price.

Ransomware-as-a-service, intricate phishing scams, cryptomining and cryptojacking schemes: Ransomware attacks will continue as long as cryptocurrency remains valuable.
Cryptomining Attacks Remain One of the Nastiest Malware Threats of 2019

Ransomware-as-a-service, intricate phishing scams, cryptomining and cryptojacking schemes: Ransomware attacks will continue as long as cryptocurrency remains valuable.

A recent ruling by a court in South Korea could see cryptocurrency exchanges held responsible for compensating hack victims.
South Korean Court Sets Compensation Precedent for Cryptocurrency Exchanges

A recent ruling by a court in South Korea could see cryptocurrency exchanges held responsible for compensating hack victims.

Luno, a bitcoin exchange with a significant presence in Africa, answers questions about the growing adoption and changing perception there.
Bitcoin in Africa: Offering ‘New and Better Ways of Exchanging Value’

Luno, a bitcoin exchange with a significant presence in Africa, answers questions about the growing adoption and changing perception there.

A Russian law firm claims it can recover funds for victims of the 2014 Mt. Gox hack. But critics see some flaws in the outlined plan.
Latest Pitch to Recover Lost Mt. Gox Bitcoin Has Critics Raising Red Flags

A Russian law firm claims it can recover funds for victims of the 2014 Mt. Gox hack. But critics see some flaws in the outlined plan.

Bitcoin News Week in Review
Bitcoin Magazine’s Week in Review: Gradual Improvements

8/21/19: Bitcoin Magazine’s Week in Review brings you the most critical, interesting and popular Bitcoin news from this week.

Tracing China’s $3 billion crypto scam.
How the PlusToken Scam Absconded With Over 1 Percent of the Bitcoin Supply

Tracing China’s $3 billion crypto scam.

The PlusToken cryptocurrency scam, thought to involve the theft of over 200,000 BTC, has involved a significant sell-off as the scammers try to cover their tracks.
Did the PlusToken Scam Cause a Bitcoin Price Dip?

The PlusToken cryptocurrency scam, thought to involve the theft of over 200,000 BTC, has involved a significant sell-off as the scammers try to cover their tracks.

The United Nations has launched a probe into 35 cyber attacks linked to North Korea, including cryptocurrency exchange hacks and “cryptojacking.”
UN Investigating North Korea’s Crypto Crimes

The United Nations has launched a probe into 35 cyber attacks linked to North Korea, including cryptocurrency exchange hacks and “cryptojacking.”

The digital security firm has compiled some of cryptocurrency’s most recent exit scams and frauds.
CipherTrace’s Cryptocurrency AML Report Details $4.3 Billion in Schemes

The digital security firm has compiled some of cryptocurrency’s most recent exit scams and frauds.

A confidential briefing from the UN indicates that North Korea has accrued at least $2 billion from cryptocurrency exchange and mining hacks.
UN: North Korea Funds Weapons Program Through Crypto Hacks

A confidential briefing from the UN indicates that North Korea has accrued at least $2 billion from cryptocurrency exchange and mining hacks.

The Monetary Authority of Singapore is warning investors to avoid a bitcoin scam that invokes fake comments from the country’s former prime minister.
Singapore’s Financial Regulator Blows Whistle on Bitcoin Scam

The Monetary Authority of Singapore is warning investors to avoid a bitcoin scam that invokes fake comments from the country’s former prime minister.

South Korea Loses $2 Billion to Cryptocurrency Crime
Crypto Crimes Cost South Korea More Than $2 Billion

South Korea has detained 132 suspects believed to be involved in cryptocurrency crime.

Lessons from some of the worst bitcoin scams to have hit the African continent — scams that have slowed the adoption rate for bitcoin in Africa.
Bitcoin Scams in Africa: Their History and How to Avoid Becoming a Victim

Lessons from some of the worst bitcoin scams to have hit the African continent — scams that have slowed the adoption rate for bitcoin in Africa.

Ryuk encrypts data on an infected device and demands hefty bitcoin ransoms, as high as 11 BTC.
The Ryuk Virus Is Spreading Through China, Asking 11 BTC Ransoms

Ryuk encrypts data on an infected device and demands hefty bitcoin ransoms, as high as 11 BTC.

QuadrigaCX Mass Fraud Confirmed in Latest Report
Latest Report on QuadrigaCX Confirms Fears of Mass Fraud

The latest monitor report on defunct crypto exchange QuadrigaCX revealed that its CEO misused customer funds.

Scams - North Korean Hackers Attack Upbit Users in South Korea
North Korean Hackers Attack Upbit Users in South Korea

North Korean hackers have made a phishing attempt on users of South Korean crypto exchange Upbit. The hackers reportedly sent out an email claiming that Upbit users needed to submit more information to become eligible for a prize drawing, then malware would activate when they opened it.

Scams - 7
7,000 BTC Lost in Hangzhou Scam

Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that two young men stole nearly 7,000 bitcoin.

Scams - Dutch Man Arrested for $111 Million Fake Mining Scheme
Dutch Man Arrested for $111 Million Fake Mining Scheme

A Dutch news outlet has reported the arrest of a local man on charges of deceiving investors with a bogus bitcoin mining scheme.

Scams - Smell Something Fishy? The CFTC Will Pay You to Report Crypto Scams
Smell Something Fishy? The CFTC Will Pay You to Report Crypto Scams

The U.S. Commodity Futures Trading Commission had a message for conference goers at Consensus 2019: “Be on the lookout for virtual currency fraud” and if you see it, let us know.

Scams - A Group of Major Crypto Traders Reportedly Considers Scammer Blacklist
A Group of Major Crypto Traders Reportedly Considers Scammer Blacklist

Several major cryptocurrency traders, including representatives from Galaxy Digital Holdings and Cumberland DRW, reportedly met to discuss an industry-wide blacklist of suspicious actors to stem the tide of scams and theft in the space.

Scams - Report: Australians Lost Over $4 Million to Crypto Scams in 2018
Report: Australians Lost Over $4 Million to Crypto Scams in 2018

“To avoid the fraud and scam detection systems employed by banks, scammers are now increasingly asking for payment via unusual payment methods such as gift cards and cryptocurrencies.”

Scams - SEC
SEC, CFTC Issue Investment Warning on Crypto Scams

Sensing a rise in crypto-related scams and fraudulent investment schemes, the SEC and the CFTC have issued a joint warning to investors, encouraging them to take a more thorough approach to verifying potential investments in the space.