Post the BIGGEST SCAM in bitcoin history according to you

[pjsonowal]

This thread is created to aware the newbies and users who still believe that ponzis are fair...

SO GUYS MY REQUEST IS TO PLEASE POST THE BIGGEST SCAMS IN BITCOIN WORLD ACCORDING TO YOU..

HELP NEWBIES AND AWARE THEM..

THANK YOU

[NorrisK]

There is already an extensive thread about this.

Please take a look here, you will find all major thefts and heists in there.

https://bitcointalk.org/index.php?topic=576337.160

[ashour]

It is really difficult to say, I arguably think that the MT.GOX incident was the biggest scam that happened to bitcoin. Many people lost thousands of bitcoin and it damaged the reputation of bitcoin itself.

[brg444]

we might have a candidate here:

http://www.myplanetganja.com/viewtopic.php?f=13&t=11022

[VirosaGITS]

It is really difficult to say, I arguably think that the MT.GOX incident was the biggest scam that happened to bitcoin. Many people lost thousands of bitcoin and it damaged the reputation of bitcoin itself.

Pretty sure its factually MtGox? But personally i would say PayCoin for how long they/he managed to control all those people by the nose, that continued giving him money over and over and over until he was long gone on some nice tropical island sipping his martini. (Biased as hell)

[jeffthebaker]

What about TradeFortress (I think that was his name at least). Probably not the largest scam in terms of BTC stolen, but I remember the event taking place right when I joined the community. TF was a hugely respected member, and the scam came completely out of nowhere. Seemed like a huge shock at the time to the community that someone with so much respect and trust would do such a thing.

[ashour]

It is really difficult to say, I arguably think that the MT.GOX incident was the biggest scam that happened to bitcoin. Many people lost thousands of bitcoin and it damaged the reputation of bitcoin itself.

Pretty sure its factually MtGox? But personally i would say PayCoin for how long they/he managed to control all those people by the nose, that continued giving him money over and over and over until he was long gone on some nice tropical island sipping his martini. (Biased as hell)

Well you can argue that MT.GOX was a scam. Some will say that the actually got hacked and some will say that karpeles did it on purpose.

[pedrog]

If you consider the MtGox fall as a scam then it was MtGox, it is really hard to beat 500 million damage .

[gentlemand]

Kinda depends on one's definition of scam. I would guess that Gox didn't get rolling with the intention of scamming anyone. They certainly made up for it by the end though.

[VirosaGITS]

It is really difficult to say, I arguably think that the MT.GOX incident was the biggest scam that happened to bitcoin. Many people lost thousands of bitcoin and it damaged the reputation of bitcoin itself.

Pretty sure its factually MtGox? But personally i would say PayCoin for how long they/he managed to control all those people by the nose, that continued giving him money over and over and over until he was long gone on some nice tropical island sipping his martini. (Biased as hell)

Well you can argue that MT.GOX was a scam. Some will say that the actually got hacked and some will say that karpeles did it on purpose.

Didn't they catch the guy? And wasnt some insider worker revealed all of it? I just figured by now if it was true, Karpeles would of confessed by now? I have to admit i didn't entertain the thought the guy could be innocent but if it wasnt a scam, why did he run with millions of dollars in BTC?

[gentlemand]

Didn't they catch the guy? And wasnt some insider worker revealed all of it? I just figured by now if it was true, Karpeles would of confessed by now? I have to admit i didn't entertain the thought the guy could be innocent but if it wasnt a scam, why did he run with millions of dollars in BTC?

He hasn't confessed to anything. He strikes me as so far moved from reality he probably wouldn't give up anything after decades of exacting torture.

He's being charged with embezzling $2.6 million of customer funds. As for those hundreds of thousands of coins, that remains a mystery.

http://www.coindesk.com/mt-gox-ceo-claims-to-be-victim-in-bitcoin-exchange-demise/

[Mickeyb]

You don't need a thread OP to get an answer to this question. It was Mt. Gox, by far the biggest scam for Bitcoin community so far. This unfortunate event hunts us still. All of the people that have heard about the Bitcoin have heard about the Mt. Gox as well.

I am also afraid that this will hunt us for a long time in future as well. FUDsters and Bitcoin haters just love to pull this one out whenever they can!

[RGBKey]

Either Mt. Gox or Inputs.io if you ask me, but those have already passed, you can't really lose money to them now.

[VirosaGITS]

Didn't they catch the guy? And wasnt some insider worker revealed all of it? I just figured by now if it was true, Karpeles would of confessed by now? I have to admit i didn't entertain the thought the guy could be innocent but if it wasnt a scam, why did he run with millions of dollars in BTC?

He hasn't confessed to anything. He strikes me as so far moved from reality he probably wouldn't give up anything after decades of exacting torture.

He's being charged with embezzling $2.6 million of customer funds. As for those hundreds of thousands of coins, that remains a mystery.

http://www.coindesk.com/mt-gox-ceo-claims-to-be-victim-in-bitcoin-exchange-demise/

Thats crazy and i think the biggest damage it did to Bitcoin isint all that capital but all the FUD about how Bitcoin is for criminals, untrustworthy and stuff. Half the people i met in life that heard of Bitcoin replied stuff like.

"Yeah i don't buy in that BTC stuff, its shady as hell" or "What? The thing criminal use to transfer and launder money?" ;_;

But i guess if i was him, and betting on BTC in the future and i had 1.whatever million BTC stashed somewhere, i would also just do the few years in prison and then be covered by the stature of limitation. A few years doesn't sound so bad when you think you might be billionaire if BTC rise, by the time you get out.

Whats a few years of lazing around, being fed and lodged behind bars, to 50 years afterward of gluttony?

[ashour]

It is really difficult to say, I arguably think that the MT.GOX incident was the biggest scam that happened to bitcoin. Many people lost thousands of bitcoin and it damaged the reputation of bitcoin itself.

Pretty sure its factually MtGox? But personally i would say PayCoin for how long they/he managed to control all those people by the nose, that continued giving him money over and over and over until he was long gone on some nice tropical island sipping his martini. (Biased as hell)

Well you can argue that MT.GOX was a scam. Some will say that the actually got hacked and some will say that karpeles did it on purpose.

Didn't they catch the guy? And wasnt some insider worker revealed all of it? I just figured by now if it was true, Karpeles would of confessed by now? I have to admit i didn't entertain the thought the guy could be innocent but if it wasnt a scam, why did he run with millions of dollars in BTC?

There still isn't any proof that it was him that stole all the coins. The investigations are still on and might take time until they are solved.

[cryptworld]

Of course it was Mtgox

It was the biggest site,with millions of bitcoins and millions of dollars and they closed with the whole money without many explanations

But I must say that it was something that could be seen from far

[onemorexmr]

IMHO its pirateat40 with its ponzi

[edric]

This thread is created to aware the newbies and users who still believe that ponzis are fair...

SO GUYS MY REQUEST IS TO PLEASE POST THE BIGGEST SCAMS IN BITCOIN WORLD ACCORDING TO YOU..

HELP NEWBIES AND AWARE THEM..

THANK YOU

Cloud mining.

P2P lenders who increase their amount of debt rapidly and stack loans across different sites or even on the same sites.

HYIPs.

Unregulated, offshore bitcoin companies that offer to hold your coins and let you invest in crypto-securities and leveraged trading.  They can walk away with your money at any time.  Don't put in what you can't afford to lose.

[Possum577]

Biggest in what sense?

Biggest value of Bitcoin or fiat taken? Biggest notoriety? Biggest number of victims?

A lot of thoughts come to mind - first, Mt. Gox. It has to be number one. And if you don't think it's was a scam then why isn't Karpeles doing more to prove his innocence?

The collective ponzis on this forum are pretty big (collectively)...offering ridiculous amounts of interest, DAILY, numbers that are literally impossible to provide unless the owner is just giving money away. They stick around for a while, some people make some money, the owner cuts the cord and the remaining people involved get fucked.

[Ceizer54]

Everytime a bitcoin scam occurs it makes me really sad because it affects the value of bitcoin and it's users...Biggest Scam according to me was Mt.Gox...many people lost their bitcoins..that's why we should never store bitcoins on an exchange