Four Arrested in Ukraine for Running Six Fake Cryptocurrency Exchanges

[SlipMart]

According to reports, four Ukrainians were arrested by the Ukrainian police for allegedly carrying out six fake cryptocurrency exchanges that were used to defraud potential users of their funds.

The Ukrainian police made the arrests on June 21. The suspects, aged 20 to 26, have been trapping people and deceiving them into buying cryptocurrencies from online digital currency exchange companies that displayed fake ratings and reviews on their websites.

Read More >>>>http://social.bitzamp.com/four-arrested-in-ukraine-for-running-six-fake-cryptocurrency-exchanges/

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[Scarletoverm]

No surprise. It's easiest way to get followers. Exchanges are big for some, especially new coins. And they try best to promote it and get listed there.
Also each exchange has it's own crypto, so here you go. Pump and Dump.

[ahmad21]

For sure nothing new for the crypto space to hear something of this sort. These defrauders are the only reason that have spoiled the reputation of the crypto exchanges worldwide. They are the reason of dwindling trust of the masses in the digital assets. That is why many a people are afraid to put an entry into this place. But never mind, it is surely good to see that many countries are actively regulating the digital transactions and are strictly implementing those rules and regulations.

No surprise. It's easiest way to get followers. Exchanges are big for some, especially new coins. And they try best to promote it and get listed there.
Also each exchange has it's own crypto, so here you go. Pump and Dump.

It is easiest and the DUMBEST way to get the followers!

[buwaytress]

Good job on Ukrainians who reported these fake exchanges. This is why it's always important for people to actually report all the scams they've fallen for. People say the enforcement doesn't care, but with crypto and Bitcoin on every country's agenda, you at least should never let these thieves get away with what they're doing.

Got to wonder, though, if this "effective policing" is just part of the government's intense anti-crypto campaign in Ukraine. Watched a couple of the govt-sponsored anti-Bitcoin videos and they're kind of lame.

[richminded]

Six fake cryptocurrency exchanges, wow! Look at what greeds gives to you. Hopefully there’s no victim or at least the investor got the refund. People should not believe easily on the reviews because sometimes its not true and don’t just believe on the new exchanges without proper analysis. Hope that this will not result to a bad image of cryptocurrency in Ukraine.

[KrishaBitcoin]

According to reports, four Ukrainians were arrested by the Ukrainian police for allegedly carrying out six fake cryptocurrency exchanges that were used to defraud potential users of their funds.

The Ukrainian police made the arrests on June 21. The suspects, aged 20 to 26, have been trapping people and deceiving them into buying cryptocurrencies from online digital currency exchange companies that displayed fake ratings and reviews on their websites.

Read More >>>>http://social.bitzamp.com/four-arrested-in-ukraine-for-running-six-fake-cryptocurrency-exchanges/

This is not good news in which it will just make the Bitcoin current performance to worst. Bitcoin performance is average low now in which we need more good progress in order to attract more investors to make the real demand of Bitcoin to increse but with these bad guys doing it will just making the people to avoid Bitcoin as most of them would say Bitcoin investments is a scam. I hope these bad guys will be in jailed forever so that there is justice for the victims.

[jseverson]

This is not good news in which it will just make the Bitcoin current performance to worst. Bitcoin performance is average low now in which we need more good progress in order to attract more investors to make the real demand of Bitcoin to increse but with these bad guys doing it will just making the people to avoid Bitcoin as most of them would say Bitcoin investments is a scam. I hope these bad guys will be in jailed forever so that there is justice for the victims.

It's bad for crypto for sure, but I don't think it can make the current situation any worse. They're a fairly small market, and the news itself doesn't generate anywhere near as much buzz as the Bithumb hack (which didn't move the market much either). Scams are so common nowadays that people probably just shrug at them.

But yeah, that doesn't mean we have to treat scams as the norm. The community should work each other to eliminate as many of them as possible. Good for Ukraine.

[Kingofbitcoin12345]

That’s disgusting on making money out of it.. I will be happy that they will be rotted on jail for the rest of they’re lives.. The Ukrainian police have done a very good job in bringing them in and let the full force of the law punished them for they’re doings.. This is insanely not welcome in our world and they have to be banned in cryptocurrency for a lifetime..

Bitcoin and blockchain technology suffered from this fraudulent activity and policing measures is highly necessary..

[Kronos21]

Scammers have been at all times in all countries. Not new. But it seems to me that the main reason for the decline in the popularity of cryptocurrencies is the disparate relationship within the crypto community. Everyone earns money for themselves and does not pay attention to the problems of others. In the end, everyone suffers.

[thomas.sgat]

Scammers have been at all times in all countries. Not new. But it seems to me that the main reason for the decline in the popularity of cryptocurrencies is the disparate relationship within the crypto community. Everyone earns money for themselves and does not pay attention to the problems of others. In the end, everyone suffers.

Indeed, things have changed the blockchain lack of units people think only of money and forget the heart of the Blockchain.

[ecnalubma]

Indeed good job for the law enforcers, In this time around people should be very vigilant since crypto is so popular these days people are easily get scammed by crooks. Its better to detect early treats before it gets worst so that none in the future will fall victims.

[btc-facebook]

Well if this keep happening all the time, people will lost their trust against cryptocurrency and the major impact is Downtrend.
When bitcoin value consider high enough encourage more people to build crypto exchange in order to scam people so user must be smart before try to deposit into new exchange !

[orions.belt19]

Good job on Ukrainians who reported these fake exchanges. This is why it's always important for people to actually report all the scams they've fallen for. People say the enforcement doesn't care, but with crypto and Bitcoin on every country's agenda, you at least should never let these thieves get away with what they're doing.

Got to wonder, though, if this "effective policing" is just part of the government's intense anti-crypto campaign in Ukraine. Watched a couple of the govt-sponsored anti-Bitcoin videos and they're kind of lame.

It would be great if there were more of this “effective policing” and more than just a way to get rid of crypto. It would protect the citizens from the scams and should encourage the crypto-enthusiasts and investors. The police should do what they can to protect the citizens from scams such as those, instead of just helping the gov’t in promoting “anti-crypto”. Enforcement is going to help give the community a sense of security.

[Coffee135]

Good job on Ukrainians who reported these fake exchanges. This is why it's always important for people to actually report all the scams they've fallen for. People say the enforcement doesn't care, but with crypto and Bitcoin on every country's agenda, you at least should never let these thieves get away with what they're doing.

Got to wonder, though, if this "effective policing" is just part of the government's intense anti-crypto campaign in Ukraine. Watched a couple of the govt-sponsored anti-Bitcoin videos and they're kind of lame.

It would be great if there were more of this “effective policing” and more than just a way to get rid of crypto. It would protect the citizens from the scams and should encourage the crypto-enthusiasts and investors. The police should do what they can to protect the citizens from scams such as those, instead of just helping the gov’t in promoting “anti-crypto”. Enforcement is going to help give the community a sense of security.

I never trusted the police. They are not interested in our problems. They always react after the crime has occurred. But time is lost and it is very difficult to get your money back. Any regulation takes into account the opinion of officials. This makes their decisions subjective. Why do you need such a mechanism?

[Harlot]

Well if this keep happening all the time, people will lost their trust against cryptocurrency and the major impact is Downtrend.
When bitcoin value consider high enough encourage more people to build crypto exchange in order to scam people so user must be smart before try to deposit into new exchange !

Nah, I don't think so. As long as the victims know what really happened and the news as well as the government is feeding their citizens with the right and transparent information mistrust on cryptocurrencies won't be impossible, I mean come one man almost everyone has access on the internet and literally anyone can do some background checks on the news, and if they really want to earn money out of cryptocurrency they need to step up their game when it comes to feeding themselves with new information all the time. Let us remember that there was a time when Bitcoin was related to being a currency for the dark web now it is a thing of the past.

[audaciousbeing]

According to reports, four Ukrainians were arrested by the Ukrainian police for allegedly carrying out six fake cryptocurrency exchanges that were used to defraud potential users of their funds.

The Ukrainian police made the arrests on June 21. The suspects, aged 20 to 26, have been trapping people and deceiving them into buying cryptocurrencies from online digital currency exchange companies that displayed fake ratings and reviews on their websites.

Read More >>>>http://social.bitzamp.com/four-arrested-in-ukraine-for-running-six-fake-cryptocurrency-exchanges/

I am not bothered at all and they deserve what they got to the full extent of the law. What keeps surprising me is how young people who have the skills, strength and the right amount of education to be what they want to be having being exposed to crypto currency at such a young age could not do anything better than to use that to make another fellow human being cry over loss of resources and they would have even made more money by doing the right thing and staying on the right side of the law.  Unfortunately, they have just tainted the rest of their lives if they are found to have been guilty and sentenced accordingly.

All of this, are only casting doubt on the integrity of the market because not everybody can go extra step to be safe, for some other people, it will take longer time for them to understand how Electrum or any other free wallet works so they trust third party who then betray their trust because of selfish desire to make riches. I think the police there should be commended for going extra mile to get them and a warning to others that they might not be as safe as they thought they are.

[magneto]

This is what regulations are supposed to be for.

And I'm all for regulation in the field of exchanges, because there are certainly a lot of these fraudulent exchanges out there that are extremely damaging to newbies who want to get started with bitcoin but gets scammed by one of them.

Instead of imposing overly strict regulations on the customer, monitor the exchanges themselves and see if there is any wrongdoing. Have a complaints board to handle complaints of fraudulent exchanges as well. The Ukrainians have done a good job with this here, they actually took initiative to legally prosecute these scammers, who absolutely deserve to be.

[Oilacris]

Good job on Ukrainians who reported these fake exchanges. This is why it's always important for people to actually report all the scams they've fallen for. People say the enforcement doesn't care, but with crypto and Bitcoin on every country's agenda, you at least should never let these thieves get away with what they're doing.

Got to wonder, though, if this "effective policing" is just part of the government's intense anti-crypto campaign in Ukraine. Watched a couple of the govt-sponsored anti-Bitcoin videos and they're kind of lame.

This is expected already to be part of their anti-crypto campaign which they are focused on detecting possible frauds and this is what the campaign been used for. Been wondering on how come or its too many exchangers being used up to make up a way of possible fraud to scam money on people. The good thing that they had been caught out which is an unsual thing when we do saw exchange frauds. This would be an eye opener for those people who do have possible plans on creating their own fake exchange.

[palle11]

Well if this keep happening all the time, people will lost their trust against cryptocurrency and the major impact is Downtrend.
When bitcoin value consider high enough encourage more people to build crypto exchange in order to scam people so user must be smart before try to deposit into new exchange !

This is an obvious thing because when people continue to hear these scamming stories from exchanges, it will discourage more to join. Exchange is like a bank and must be cleaned up, secured and protected.

[Tylev]

Young people are looking for easy money in the crypto currency, and they want to earn millions at once. The age is young - from 20 to 26 years, however, what scope, as many as six fake crypto-exchange exchanges. I do not think that here the Ukrainian police showed a high level of professionalism, although I do not rule out that, most likely, these young people showed themselves too much and lit up. For this, of course, it is necessary to punish severely.