[2018-10-02] Cryptocurrency Scams Are Successfully Growing Thanks to Web Marketi

[manyexp]

Crypto scams have largely spread across the world taking various shapes. Driven by one single purpose, fraudsters invent many tricks to lure naive investors into the nets of their malicious schemes. If a crypto company spends a lot of money on its advertisements, it is likely a scam.

Bitconnect Story

Last October, when the market was generally bullish, with Bitcoin at almost $6,000, investors were happily collecting revenue from rapidly rising virtual coins such as BTC, ETH, and BCH. However, even this generous profit was not enough for some people who wanted to get a guaranteed daily interest. Bitconnect provided them with such an opportunity.

The scam was detected and shut down, of course, but one important detail managed to hide from the police’s eye. It has been only recently figured out, that the fraudulent Bitconnect spent an enormous amount of money on advertisement. According to the chat logs, the company attracted millions of dollars, thousands of which were spent on Youtube bloggers and referral scheme with gifts. Furthermore, there is information from the leaked Skype chats of Bitconnect’s leading figures showing that in October they paid Google and Facebook $1,000 per day for ads. The number increased to $3,000 per day in November.

...
source: https://coinidol.com/cryptocurrency-scams-are-successfully-growing-thanks-to-web-marketing/

[GlamourBIt]

Crypto scams have largely spread across the world taking various shapes. Driven by one single purpose, fraudsters invent many tricks to lure naive investors into the nets of their malicious schemes. If a crypto company spends a lot of money on its advertisements, it is likely a scam.

Bitconnect Story

Last October, when the market was generally bullish, with Bitcoin at almost $6,000, investors were happily collecting revenue from rapidly rising virtual coins such as BTC, ETH, and BCH. However, even this generous profit was not enough for some people who wanted to get a guaranteed daily interest. Bitconnect provided them with such an opportunity.

The scam was detected and shut down, of course, but one important detail managed to hide from the police’s eye. It has been only recently figured out, that the fraudulent Bitconnect spent an enormous amount of money on advertisement. According to the chat logs, the company attracted millions of dollars, thousands of which were spent on Youtube bloggers and referral scheme with gifts. Furthermore, there is information from the leaked Skype chats of Bitconnect’s leading figures showing that in October they paid Google and Facebook $1,000 per day for ads. The number increased to $3,000 per day in November.

...
source: https://coinidol.com/cryptocurrency-scams-are-successfully-growing-thanks-to-web-marketing/

That's  OLD !!!!

[senin]

Yes, fraud in cryptocurrency and in general the hacking of exchangers and our wallets becomes a very big problem for cryptocurrency owners. Apparently, this problem will only increase with time. The difficulty of dealing with it lies in the fact that it is very difficult to establish the attackers, because they can be located in any country, and this significantly complicates the work of law enforcement agencies.

[Slow death]

fraudsters invent many tricks to lure naive investors into the nets of their malicious schemes.

I agree with the part that the scammers invoke many tricks, they evolve every day, but thanks to the gain of the people that the scammers still exist. if people were not greedy, then the scammers would have disappeared

Bitconnect Story

Last October, when the market was generally bullish, with Bitcoin at almost $6,000, investors were happily collecting revenue from rapidly rising virtual coins such as BTC, ETH, and BCH. However, even this generous profit was not enough for some people who wanted to get a guaranteed daily interest. Bitconnect provided them with such an opportunity.

I remember reading lots of comments from people who invested a lot of money in this ponzi scheme, and according to what I remember, those people who invested in this ponzi scheme said they did not have time to do day trade or Hold and that the ponzi scheme gave them returns very safe and secure. at least it was what these people imagined. unfortunately they had a big disappointment

[hatshepsut93]

fraudsters invent many tricks to lure naive investors into the nets of their malicious schemes.

I agree with the part that the scammers invoke many tricks, they evolve every day, but thanks to the gain of the people that the scammers still exist. if people were not greedy, then the scammers would have disappeared

I don't agree with this "blame the victim" approach, first it's natural and good for people to want to improve their financial lives. Greed is when people want more and more wealth when they already have it, but most of the victims of scammers are just average joes, and often they are actually poor and end up being scammed only because they were desperate (and not very smart).

[yesyes18]

I don't actually side with you or the author on this one. I agrre that te scams are rampant ad personally I'll attribute that to some few reasons of which marketing would be of low priority. It is due to the fact that it is young, people want to be part of a new tech, and the major factor, it is unregulated. These features really play together to make up crypto scams. For marketing, every company markets buddy!

[audaciousbeing]

For me, I don't feel any pity for those who fell for the scam because right from the beginning, scam was written all over it but because several people have been blinded by greed, they fail to see the loopholes in such grand scam and that is what led to their downfall despite the warnings all over the place.

Its actually not the fault of the web services because scammers will always find a platform to do their service neither I won't apportion blame to Google or YouTube because they were only operating within the purview of their operations and to prove that they are complicit in the grand conspiracy is if they are collecting more than the normal fees for services rendered to Bitconnect in terms of advertisement. $1,000, $3000, or $5,000 is just a small amount of money those platforms will be generating on a daily basis from advertisement for them to be held liable for Bitconnect misdemeanor and that is why they are also coming up with the issue of verified advertisement.

[Lucius]

It is obvious that there is no way to prevent advertising of such scams, they will always find way to reach naive people. Problem is that many people just not use their brain, if some offer looks too good it is most likely a fraud. There is no magic ways to earn 5-10% per day or even 1%, unfortunately many people realize this when they lose money.

Cryptocurrency is almost a perfect way to scam people worldwide, you need good idea and some money to start - it is not hard to hide your identity and if you know how, it is possible to hide tracks with using cryptocurrency. That's what keeps me surprising even more is that for some people it's not enough to scam them once, they just fall from one trap to another until they lose everything they have.

[hotforblockchain]

I often think of how people get scammed by scams which are obvious ( for me) ,especially telegram and ETH scammers. How they do not get suspicious.

I think that only way to stop this is by raising awareness, otherwise people will not be informed that there are a ton of bad people trying to take advantage of honest working people.

P.s I often start a long conversation with telegram scammers , playing along for days and saying that i have transferred funds and so on, to just fuck with them.

[magneto]

Are crypto scams necessarily increasing because of advertising? Also, who said that they're increasing? Sure, they may be increasing in volume but I think that less and less people are actually buying into these ponzis/scam ICOs because of the saturation in those fields.

Ultimately, I think that it's still the greed and immaturity of the investors that are causing this to happen. Not advertising.

Especially in last year's bull market, people's attitude towards the market is completely bullish and thus they are likely to take more risky investments, which explains why Bitconnect was as successful of a scam as it was.

[Kemarit]

For me, I don't feel any pity for those who fell for the scam because right from the beginning, scam was written all over it but because several people have been blinded by greed, they fail to see the loopholes in such grand scam and that is what led to their downfall despite the warnings all over the place.

Exactly, perhaps this is one trait can we can see on those newbies trying to get into the market, greed. Everyone's logic is thrown out of the picture when they see potential $$$ to make, they mind advances as to what they're going to do with such money and fall for the trap.

Its actually not the fault of the web services because scammers will always find a platform to do their service neither I won't apportion blame to Google or YouTube because they were only operating within the purview of their operations and to prove that they are complicit in the grand conspiracy is if they are collecting more than the normal fees for services rendered to Bitconnect in terms of advertisement. $1,000, $3000, or $5,000 is just a small amount of money those platforms will be generating on a daily basis from advertisement for them to be held liable for Bitconnect misdemeanor and that is why they are also coming up with the issue of verified advertisement.

Well they're social media platform, how can we blame them. Everyone is free to create and share content or to participate in their sites. Bitconnect was really a scam and I remember a lot of members have been calling it such for the last couple of months, giving us warning before the eventual downfall. But guess what, they didn't heed the call and blindly choose to invest at their own risk.

[guybrushthreepwood]

Bitcoin's benefits are also unfortunately beneficial to scammers and sadly it's probably a scammers preferred currency of choice right now. It used to be things like PayPal and other payment processors but they can easily be reversed or traced. Bitcoin makes their life much easier as when the money is in their wallet it's theirs for good and nobody is going to come after them. Scammers will just be riding the hype train of crypto right now and looking to fleece the naive who are looking for a quick buck or get rich quick scheme, but those types are always the easiest to steal from.

[alex_gr_cc]

Crypto scams have largely spread across the world taking various shapes. Driven by one single purpose, fraudsters invent many tricks to lure naive investors into the nets of their malicious schemes. If a crypto company spends a lot of money on its advertisements, it is likely a scam.

Bitconnect Story

Last October, when the market was generally bullish, with Bitcoin at almost $6,000, investors were happily collecting revenue from rapidly rising virtual coins such as BTC, ETH, and BCH. However, even this generous profit was not enough for some people who wanted to get a guaranteed daily interest. Bitconnect provided them with such an opportunity.

The scam was detected and shut down, of course, but one important detail managed to hide from the police’s eye. It has been only recently figured out, that the fraudulent Bitconnect spent an enormous amount of money on advertisement. According to the chat logs, the company attracted millions of dollars, thousands of which were spent on Youtube bloggers and referral scheme with gifts. Furthermore, there is information from the leaked Skype chats of Bitconnect’s leading figures showing that in October they paid Google and Facebook $1,000 per day for ads. The number increased to $3,000 per day in November.

...
source: https://coinidol.com/cryptocurrency-scams-are-successfully-growing-thanks-to-web-marketing/

Web marketing is just a tool in the hands of scammers. The main reason for fraud is the greed of people. On the Internet and in addition to cryptocurrency a lot of fraud. As a rule, greedy and ignorant people fall into the hands of fraudsters.

[rodskee]

Always be aware investing in crypto
Online marketing strategy is front of danger
We need to take very time put an investment in cryptocurrency
The scammers in olnine web and the hackers are always actuve
To avoid this please investigate first to secured your investment