Bitcoin Scams

New York polls crypto firms on security measures after Twitter hack

The New York Department of Financial Services (NYDFS) has released a lengthy report analyzing the impact of July’s high-profile Twitter hack, which resulted in the theft of over $118,000 worth of Bitcoin (BTC).  Far beyond the immediate material impact, the NYDFS states that the incident exposed the deep cybersecurity weaknesses of a publicly-traded social media company valued …

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‘Bitcoin Pope’ faces up to 10 years in jail for running two crypto scams

A securities regulator in the United States, the Texas State Securities Board (TSSB), has detected another batch of alleged cryptocurrency scams. On Sept. 3, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against two alleged crypto scam schemes known as Forex Birds and PEK Universe. The published order names Kumar …

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Ministers used influence to pilfer millions in alleged Ponzi Scheme

A recent filing from the United States Securities and Exchange Commission, or SEC, takes action against three individuals for allegedly raising millions of dollars against more than 1,000 victims.  “From 2017 to May 2019, Jali, Frimpong, and Johnson, directly and through two entities created to perpetrate the scheme, Smart Partners and 1st Million (the ‘Companies’), …

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P2P Cryptocurrency Exchanges in Africa Pivot: Nigeria and Kenya the Target Markets

Leading cryptocurrency exchanges are bullish about Africa’s growth prospects as evidenced by their ongoing forays into the continent. During the month of August, Kucoin crypto exchange announced the addition of Nigeria’s naira currency as a payment option on its peer-to-peer platform. Similarly, Binance added Kenya’s popular mobile money service Mpesa to its peer-to-peer platform in …

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Facial Recognition Could Help to Stamp Out Bitcoin Social Media Scams

Facial recognition can help prevent future Bitcoin (BTC) scams like those that hit Twitter and YouTube, said Rod Hsu, president and co-founder of virtual currency platform Coincurve.  During an interview with Cointelegraph, Hsu said Bitcoin is an electronic form of currency that is non-reversible and somewhat anonymous, “coupled with this gap in understanding makes it …

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South African Bitcoin Investment Company Faces Fresh Scam Allegations

FX Choice, a forex and crypto trading company, is making new allegations that South African bitcoin investment company, Mirror Trading International (MTI) is a multi-level marketing scam. The company says it uncovered this after researching into MTI, a firm that claims to have “118,027 members in 192 countries” and ostensibly sees “12,879.70 Bitcoin in trade …

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Steve Wozniak Sues Youtube, Google for Promoting Bitcoin Giveaway Scam — Youtube Denies Fault

Apple co-founder Steve Wozniak and 17 other victims have sued Youtube and Google for allowing, promoting, and profiting from bitcoin giveaway scams. However, Youtube insists that it is not at fault for scammers using its video-sharing platform for cryptocurrency giveaway scams and other fraudulent schemes. Steve Wozniak and 17 Victims Take Youtube and Google to …

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5000 BTC Giveaway Scam: Chamath Palihapitiya, Elon Musk Not Giving Away Bitcoin

The number of bitcoin giveaway scams has been increasing rapidly amid rising prices of cryptocurrencies and deepening economic crisis worldwide. These scams claim that famous people are giving away bitcoin, such as Virgin Galactic Chairman Chamath Palihapitiya, Tesla CEO Elon Musk, and U.S. presidential candidate Michael Bloomberg. Bitcoin Giveaway Scams on the Rise Bitcoin giveaway …

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22 More Crypto-Stealing Google Chrome Extensions Discovered

A security researcher has discovered another 22 Google Chrome web browser extensions built to steal their user’s cryptocurrencies. Cybersecurity news outlet, Naked Security, reported on May 8 that Harry Denley, a security researcher specializing in cryptocurrencies, discovered 22 more malicious Google Chrome extensions. The extensions he discovered impersonated well-known crypto firms like Ledger, KeepKey, MetaMask, …

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