Bitcoin Rising, Scams Rising

[CryptoBry]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

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[Ronaldcoin2017]

Well that was really already been expected, that when tge bitcoin rise scammers will also increase, maybe bitcoin is the most amazing coin that can really give us a huge amount of profit and scammers know that the people will really trust bitcoin that is why they use bitcoin to SCAM other so that they can get easy money, that is why we need to be more careful on it.

[Ailmand]

This is not something new, since bitcoin was created it had been a way for some scammers to get people's hard earned money. Cryptocurrency is their best resort due to it's decentralization and anonymity. With it, they can easily steal and escape without even getting their real identity disclosed. As long as you know how to secure your funds and what to avoid in crypto for you not to be scammed, there's not much to worry. Just stay safe everytime.

[Haunebu]

1.2 million pounds? Wow. Absolute insanity. Greed got him. Some people are never satisfied and they expect the golden goose to continue providing them golden eggs. I would have happily retired with that kind of money.

An 18 month con proved to be worth it and the thieves must be having a blast. People need to learn from these scams instead of repeating the same mistakes again and again.

[YuginKadoya]

This is very common when we are in a bull market, Right now that the spike towards upward is very visible and this kind of things is really relevant there are certain people that are drawn towards the expanding price of Bitcoin, We can not stop them from doing so but we can certainly prevent it if we help one another in reporting suspicious things and telling the community about their illegal scheme or giving the authority possible modus you may know.

[mk4]

Scams have existed since the birth of the internet, even before it. I don't really expect scams to go away regardless of the market situation, but yea, in bullish times, scams tend to be more numerous and spread out due to the number of inexperienced investors going into the cryptocurrency markets. Keep your eyes peeled at all times, regardless of the price of bitcoin.

[Experia]

that is a major problem that the crypto industry are facing now, it is not about the bitcoin it is now about the people who was using this kind of industry in their own benefits, if the government can still had nothing to do with it then it might really affect the image over the years .

[Pursuer]

increase in bitcoin price and increase in number of scams has very little to do with the value increase and "incentive" that it creates in my opinion. the only reason why the number of scams is rising is because there is an increase in the number of newcomers and that means a lot of new people who are entering an entirely new world that they don't fully understand either. many of them lack security or skills to learn security measures or they may even be too lazy to do it. the result is an increased number of easy targets which leads to more scammers being attracted and more scams happening as the result.

[gabbie2010]

that is a major problem that the crypto industry are facing now, it is not about the bitcoin it is now about the people who was using this kind of industry in their own benefits, if the government can still had nothing to do with it then it might really affect the image over the years .

It is an issue that must be quashed once and for all else it will continue to paint the crypto industry in a bad light thus tarnishing it's image.
Already many countries had taken a negative stance on cryptos with this latest development regarding reoccurring scams will enable those government not to renege it's stance by placing total ban or embargo to the detriment of already teeming crypto enthusiast.

[Artemis3]

Scams have existed since the birth of the internet, even before it. I don't really expect scams to go away regardless of the market situation, but yea, in bullish times, scams tend to be more numerous and spread out due to the number of inexperienced investors going into the cryptocurrency markets. Keep your eyes peeled at all times, regardless of the price of bitcoin.

Well we can always recall that infamous Italian family name everyone seems to be familiar with: Charles Ponzi

He made a fortune by exploiting a flaw in the postal service, back in 1919...

In January 1920, Ponzi started his own company, the "Securities Exchange Company," to promote the scheme. In the first month, 18 people invested in his company with a total of $1800. He paid them promptly for the very next month, with the money obtained from the newer set of investors. He set up a larger office, this time in the Niles Building on School Street. Word spread, and investments came in at an ever-increasing rate. Ponzi hired agents and paid them generous commissions for every dollar they brought in. In just one month's time, between February and March, 1920, the total amount invested had risen from $5,000 to $25,000 ($62,000 to $309,000 in 2017 Dollars, respectively). As the frenzy began building, Ponzi hired agents to seek out new investors in New England and New Jersey. At that time, investors were being paid impressive rates, which subsequently encouraged others to invest. By May 1920, he had made $420,000 (~$5 million in 2017 Dollars). By June 1920, people had invested $2.5 million in Ponzi's scheme (almost $30 million in 2017). By July, he was raking in a million dollars per week and rising. By the end of July, he was approaching a million dollars per day.

He began depositing the money in the Hanover Trust Bank of Boston (a small bank on Hanover Street in the mostly Italian North End), in the hope that once his account was large enough he could impose his will on the bank or even be made its president; he bought a controlling interest in the bank through himself and several friends after depositing $3 million. By July 1920, he had made millions. People were mortgaging their homes and investing their life savings. Most did not take their profits, but reinvested. Ponzi's company meanwhile had set up branches from Maine to New Jersey.

Even though Ponzi's company was bringing in fantastic sums of money each day, the simplest financial analysis would have shown that the operation was running at a large loss. As long as money kept flowing in, existing investors could be paid with the new money. This was the only method Ponzi had to continue providing returns to existing investors, as he made no effort to generate legitimate profits.

In the end, it works as long as the money keeps flowing, whatever the means... Until it becomes large enough that the amount of incoming money cannot keep with the size of the operation.

He wasn't probably the first one, but its one of the first properly explained which is why some people tend to call all schemes "Ponzi" (I can only lament on the poor Italians born under that family name).

I clearly remember people claiming Bitcoin was one such scheme, back in the beginning... Took about 10 years to shut them off.

[BitcoinHodler]

money always attracts all kinds of people and bitcoin ( the new money) is growing and that growth is not just among regular users, it also grows everywhere else and attracts a lot of scammers. and when these scumbags enter the market and see how easily they can make money by scamming a bunch of newbies, their numbers grow more and more every day. so in a way we are responsible because we allowed many of these scam methods to thrive, like ICOs for example. if we (as a decentralized community) banned ICOs from day one we would have never seen so much scams.
it will be repeated too, unless the community matures enough to be able to recognize these scammers right away.

[Odette]

that is a major problem that the crypto industry are facing now, it is not about the bitcoin it is now about the people who was using this kind of industry in their own benefits, if the government can still had nothing to do with it then it might really affect the image over the years .

I agree this kind of issue really affects Bitcoin entirely which make most of the people believe that bitcoin is just a scam we should be more careful since Bitcoin is now rising again, scammers are now thinking how they can fool people once more, take everyone here as a stranger we perform everything here anonymous pertaining that we shouldn't trust each other also for our own selves and remember that there is no easy money thing everything here takes a lot of hardwork and determination.

[drumamat]

Regardless of whether bitcoin is growing or not there are a lot of scammers.Especially a lot of them where the money is spinning.And there is a lot of money in cryptocurrency.In the telegram I'm just tired of seeing messages from different scammers.They literally write every day.Therefore need to be vigilant always.

[dothebeats]

It's not only the scammers but also the number of greedy and gullible people believing anything regarding false promises and exponential gains in just a few days/weeks. I guess it's pretty normal for any financial-related ecosystem to be plagued by scammers, and even in fiat you'll see numerous scams and con artists lingering around, no matter how hard and aggressive regulations are and how strict rules can be.

[Mr.Ease]

I don't know about you... But ever since I got involved in Bitcoin

I have become Paranoid 

I don't trust many people and my saying is this: "Everything is a Scam until proven Otherwise"

[romero121]

As bitcoin price keeps rising doesn't cause any increase with the scams. Whenever price increases automatically more and more common people will get to know about existence of such a asset. Scams were common with bitcoin and other cryptocurrencies, it is our responsibility to stay away from them though it is hard to find a scam as they're just resembling similar to legitimate services.

[peter0425]

Well I've been a victim of a scam when I was still a newbie in crypto years ago so I too became paranoid not to trust anyone. Maybe greed is one factor as well that's why many people are being scammed. They believed this too good to be true offer and then later bitch around when they found out that they have been scammed.

[xWolfx]

Regardless of whether bitcoin is growing or not there are a lot of scammers.Especially a lot of them where the money is spinning.And there is a lot of money in cryptocurrency.In the telegram I'm just tired of seeing messages from different scammers.They literally write every day.Therefore need to be vigilant always.

Yeah this is exactly what i was thinking, there will always be while they can get profit out of it. Of course it's truth that the higher the price the more people that is drawn towards here and those are more possible victims and for that reason more will move and come here to try to get some easy money.

Have to be really careful on who to trust in this life sadly.

[Shenzou]

Well that is the nature of the world we live in, whenever there are is a trend or something that involves money, there will always be people who are trying to take it the easy way, and when it comes to bitcoin it provides the perfect target for that because it is anonymous so they can steal the money and not be traced, but at this point the people who are involved with cryptocurrency have seen a lot of these scams, that they know a scam when they see it, but scammers just come up with more and more intelligent ways to an easy way for money.

[traderethereum]

Well, if I look back in a few years ago, I think I've been a victim too like some members, and I guess I lost some money because of someone scams me.
I agree with the title which said bitcoin rising, scams rising because many people want to make a short time profit and they will do everything to get that profit, and suddenly, they are trap in the scamming model, and they are losing their money.
Scams do not happen in real life but also happen on the internet so there is nothing we can do except to be careful to make a decision.
Always research before you decide to invest in any programs because the scam is everywhere.

[uneng]

Scam schemes tend to become more sophisticated, as the common schemes aren't luring people anymore like years ago.
I believe this because old bitcoin users are aware about the scam schemes (as many of them have already fallen for them) and when they bring new people to crypto space, the newbies, they let them aware as well about the risks and traps of this environment.

[Yakamoto]

Regardless of whether bitcoin is growing or not there are a lot of scammers.Especially a lot of them where the money is spinning.And there is a lot of money in cryptocurrency.In the telegram I'm just tired of seeing messages from different scammers.They literally write every day.Therefore need to be vigilant always.

Yeah this is exactly what i was thinking, there will always be while they can get profit out of it. Of course it's truth that the higher the price the more people that is drawn towards here and those are more possible victims and for that reason more will move and come here to try to get some easy money.

Have to be really careful on who to trust in this life sadly.

The best thing that you can do with your money these days is to simply not give access to it to anyone who does not have some kind of unlimited liability. Anyone who is not part of a larger conglomerate or lacks any kind of licensing/insurance should not be considered as someone who should touch your money. At least when it comes to your life savings, that is. The fact that anyone was willing to put $1.2m into something that obviously sounded too good to be true (15x profit) is ridiculous in every sense of the word. There comes a point where you have absolutely no sympathy for the people who fall victim to these scams either since that promise should have been an obvious red flag. At this point, everyone is out for money and no-one should be trusted. Make sure that anyone who can touch your money will be required by a higher authority to pay you back (i.e. the government) should they mismanage it, and keep what money you can close to your bank. Same goes for Bitcoin. Don't go dumping full-retard amounts into "investments" that promise to pay way better than they should, unless you own an manage it.

[Kakmakr]

The exact same swindle method, called "Boiler room" scam is being done via the formal Banking sector daily, so this is not something that are just linked to Bitcoin or Crypto currencies. We see a range of old scams like Ransomware being adapted to use Crypto currency as the payment option and there is nothing sinister about that at all.

Bitcoin has value and everything that has value and that are borderless and anonymous on top of that, would be a huge attraction for criminals. Every technology has it's advantages and disadvantages. 

[yoseph]

These get rich schemes is good for one thing only and that's to enrich the scammers, if you really have money to invest into cryptos, you can either just buy and hold just like everyone else or you can learn to trade cryptos. Even though they are genuine crypto investments out there, I wouldn't really invest in one myself.

[omone1]

This is expected as usual, more scamming schemes are going to rebrand and come up with good pays. I won't be surprise to seeing the revamping of the infamous lending coin platforms. And you know what? human never learns they will still fall for this old trick because they prefer someone to think for them.  

[Phinnaeus Gage]

Scams have existed since the birth of the internet, even before it. I don't really expect scams to go away regardless of the market situation, but yea, in bullish times, scams tend to be more numerous and spread out due to the number of inexperienced investors going into the cryptocurrency markets. Keep your eyes peeled at all times, regardless of the price of bitcoin.

Well we can always recall that infamous Italian family name everyone seems to be familiar with: Charles Ponzi

He made a fortune by exploiting a flaw in the postal service, back in 1919...

In January 1920, Ponzi started his own company, the "Securities Exchange Company," to promote the scheme. In the first month, 18 people invested in his company with a total of $1800. He paid them promptly for the very next month, with the money obtained from the newer set of investors. He set up a larger office, this time in the Niles Building on School Street. Word spread, and investments came in at an ever-increasing rate. Ponzi hired agents and paid them generous commissions for every dollar they brought in. In just one month's time, between February and March, 1920, the total amount invested had risen from $5,000 to $25,000 ($62,000 to $309,000 in 2017 Dollars, respectively). As the frenzy began building, Ponzi hired agents to seek out new investors in New England and New Jersey. At that time, investors were being paid impressive rates, which subsequently encouraged others to invest. By May 1920, he had made $420,000 (~$5 million in 2017 Dollars). By June 1920, people had invested $2.5 million in Ponzi's scheme (almost $30 million in 2017). By July, he was raking in a million dollars per week and rising. By the end of July, he was approaching a million dollars per day.

He began depositing the money in the Hanover Trust Bank of Boston (a small bank on Hanover Street in the mostly Italian North End), in the hope that once his account was large enough he could impose his will on the bank or even be made its president; he bought a controlling interest in the bank through himself and several friends after depositing $3 million. By July 1920, he had made millions. People were mortgaging their homes and investing their life savings. Most did not take their profits, but reinvested. Ponzi's company meanwhile had set up branches from Maine to New Jersey.

Even though Ponzi's company was bringing in fantastic sums of money each day, the simplest financial analysis would have shown that the operation was running at a large loss. As long as money kept flowing in, existing investors could be paid with the new money. This was the only method Ponzi had to continue providing returns to existing investors, as he made no effort to generate legitimate profits.

In the end, it works as long as the money keeps flowing, whatever the means... Until it becomes large enough that the amount of incoming money cannot keep with the size of the operation.

He wasn't probably the first one, but its one of the first properly explained which is why some people tend to call all schemes "Ponzi" (I can only lament on the poor Italians born under that family name).

I clearly remember people claiming Bitcoin was one such scheme, back in the beginning... Took about 10 years to shut them off.

https://www.ccn.com/bitcoin-just-a-shady-ponzi-scheme-rants-goldbug-peter-schiff

You wanna guess another 10 years?

[tomahawk9]

I'm expecting a surge in scams related to cryptocurrencies over the next few months.

We're practically in a bull run already, it won't take too long before the general public and mainstream media start talking about Bitcoin again, the newcomers will see cryptos as a get rich quick scheme and they'll most likely fall for 'too good to be true' investment plans related to Bitcoin and other cryptos because of greed. Peope make irrational decisions when money is involved.

[jhonjhon]

Whether we like it or not, scam is everywhere and it has become a global issue now.  Regardless whether bitcoin price is high or not, there's still a possibility of scam because scammers just want to steal from people.  I think the best prevention from scam is awareness of the various types of scam happening and also one should be very cautious when transacting with anyone.

[bitbunnny]

As the value of Bitcoin is rising scamers are getting more interested. They engage more and to naive users offer different scheems for profit and becoming rich over night and people are greedy so there are always some who are easy prey. Scamers are always present regardles the Bitcoin price but in such positive situation like we are having now they are also looking for their extra part of illegal profit.

[bitzizzix]

Whatever is related to money with enormous value and many will be involved with fraud or crime just to take it in any way.
with the increase in bitcoin, the more ways people want to have it and I'm sick of them because they are very detrimental to many people.

[jak3]

Well, I did not realize bitcoin news are regular on newspapers now, although I have seen one or two of this news it's still progress. Just don't care about the scam part as if you are not smart enough to detect the scam and avoid it and fall for it because of your little devil called greed then that's not our problem. You are in a system where they literally have to fool you in order to squeeze the money out of you.

[BitcoinPanther]

Well, I did not realize bitcoin news are regular on newspapers now, although I have seen one or two of this news it's still progress. Just don't care about the scam part as if you are not smart enough to detect the scam and avoid it and fall for it because of your little devil called greed then that's not our problem. You are in a system where they literally have to fool you in order to squeeze the money out of you.

Newspapers publish all negative news that have Bitcoin in it even there is no connection to the actual Bitcoin activities.  Newspapers often sensationalized issue to the point of misleading reader into believing that Bitcoin is scam even though the one that scams people is the company that uses Bitcoin as lure to their unsuspecting victim.

Most of the scam company enticed people with a large ROI pretending to be an investment company but rather a ponzi scheme in their true nature.  They use Bitcoin trading as source of company's profit.  So whenever there is an offer that is too good to be true and includes investment, huge ROI in a matter of month and cryptocurrency, I would suggest to stay away from these offers.

[Broly46]

Scam rising? Im no sure why you try to make a claim like this. In my opinion, the Wall Street is the mother of all scams, and how many people lose millions of wealth to the scammers? And the so call the billionaires who manipulate your everyday life, and who love to label the crypto the seashell, but they prefer the blockchain and even create their own dimon coin, and no they're legit crypto unlike Bitcoin, you can't call them scam, you will be send to prison if you don't agree.

[Fu2013]

When the price of bitcoin jumps up automatically more and more people know. We cannot stop them from doing that but we can prevent it from helping in reporting suspicious matters and notifying the public about their illegal schemes or at least giving the authority the possibility of a fraud mode that you might know.

[vhns222]

Dont think we will have scams like before maybe newbies will come again and scams will be activated but not so much as was in 2017-18 better they invest in BTC and make it go higher and profs invest in new projects ICO s or IEOs which are more actual now.

[xvids]

This is true and nothing's new,
When the price of Bitcoin rise up surely people would be greedy and most of hackers and scammers would use it to be more active and to get more profit.
So at this point we should be really careful on what we are going to do and what we are going to click.

[DatKing]

Recently, the amount of fake ICOs have increased and there is not enough security measures for this situation. But it is good to see that Bitcoin price is not effected by these news.

[hahahafr]

That's very true, anytime bitcoin starts to rise and the crypto maket increases in general there arise so many projects which are purposely developed to lure investors to invest their money and never have any decent returns. Stay safe guys and don't invest in any project before doing some background search about it okay.

[Cuk0ng_bitc0in]

I think, if the scam rises, then BTC will be down.  Current conditions are BTC rising and scams do not affect BTC charts.  I have never been a victim of fraud.  but I learned from my friend.  he became a victim of pishing.  he lost $ 200.  we don't talk about scams.  but we have to discuss the BTC market which is bullish every day slowly.

[shoreno]

I think, if the scam rises, then BTC will be down. 

there many reported scams ever since before when cryptos such as bitcoin are not yet really popular but cryptos are got even stronger and bigger despite the scams and negativity that it recieves  .

Current conditions are BTC rising and scams do not affect BTC charts. 

scam do have a minor effect on the price especially if the scam was big but the price can still recover over time   .

when btc rises its normal to hear alot of scam news because people are also get tempted to earn easy money  . they quickly enter without knowing the souce of thier investment if its legit or not  .

[finaleshot2016]

Definitely true, this is a great opportunity to those ponzi scheme projects. We should create more threads about this because those scammers might target some beginner in the cryptocurrency. We should spread awareness on bitcoin community to avoid this non-stop scams. I'll just invest my money in a trusted project that is known by a lot of people and have a good assurance.

[marycrazy08]

To be honest, scams, thefts and exit scams are common in our crypto community, the only way to reduce  this is to get laws from government which most people dont want, but they still complaining about scams. We need laws to protect us from scammers.

[BitHodler]

Recently, the amount of fake ICOs have increased and there is not enough security measures for this situation.

What do you mean with there not being enough security measures? That regulators haven't done much to combat bad actors in crypto? That may be, but regulations aren't going to stop scams at all. If you think they will, you're wrong.

At the end of the day, there is no way to prevent get rich quick noobs from investing their life savings in whatever shitty project--a fool with money is a fool with money, regardless of what the rules are that apply.

The only thing we can do is warn people against scams and explain why they are bad and what the most likely outcome is. Some times it feels like you're wasting your time, but preventing 1 person from losing money is already worth it to me.

[iqlimasyadiqa]

Definitely true, this is a great opportunity to those ponzi scheme projects. We should create more threads about this because those scammers might target some beginner in the cryptocurrency. We should spread awareness on bitcoin community to avoid this non-stop scams. I'll just invest my money in a trusted project that is known by a lot of people and have a good assurance.

yes it is true that everyone must cooperate by providing the right information. when we get information about a scam, we can publish so that not many people will be affected. good and appropriate information development can reduce scammers in action.

[pooya87]

what did you expect? when people willingly give their precious money or bitcoin to anybody who is copying code and changing name, then it is expected to see an increase in the number of scams. it is not just about bitcoin price rise but mainly about the fact that there is a an increase in number of gullible people!
take a look at 2017 and the sheer number of ICOs which were all scam without exceptions. take a look at all the bitcoin forkcoins that were all scams without exceptions... none of these would have ever existed if people weren't gullible and didn't gamble with their bitcoins.

[Sithara007]

Scammers were always present in the crypto market and for the foreseeable future also, we will have to deal with their presence. But if you carefully analyze the scams, then it can be seen that some 80% to 90% of the cases were a result from greed, incompetence, or a combination of both. For example, in this case the investor was foolish to trust complete strangers, and his greed (he was expecting 15x profits) made him ignore the risks involved.

[tegarp90]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

Best way to avoiding scam when bitcoin is rising like this is holding the bitcoin itself.
But it from trustful exchanges and activate the 2FA login

[Steadfast20]

I expect this to happen since the price of Bitcoin is increasing. If you can see, when the price of Bitcoin is at 3000 there are a few scam incidents happened. I will not surprised if the scam incident will increase now that the price of Bitcoin is increasing. Maybe the best way in order for us to prevent being scammed is do an in depth research on the particular coin or ICO or IEO before investing.

[goaldigger]

Bitcoin rise and a lot of people are talking about it because they profit a lot on it. Greedy people on the other hand also wanted to profit without doing anything so they do all things to get bitcoin even without proper introductions. The scammers will take advantage of it then later on get a greedy victim.

[olamidey]

One of the thing that makes scammers flourish is greed and lack of right information. This applies to all aspect not limited to cryptocurrencies alone. Most of those who fall for these are those expecting huge returns. Except for hacks which can't really be seen or understood, all forms of scaling all have the same byline
 I've been scammed before so I understand how it works and happens. Bitcoin rise doesn't really have effect on rise of scammers. Uts only those who want quick money that will fall. Let's be cautious too.

[Noilee]

Its really exactly happen, because there are people are interested to own money that they can get easy money that they dont work hard for it. Especially today, as they see that the price of bitcoin is already recover so there are scammers are prepare if what their next step to make scam. So the best thing to do, we need to be wise and just aware.

[psycox]

I don't like to get something instant like a big profit investment in a flash and some kind of phishing, that's why I was spared in scammers. Scammers will roam a lot when the market is bullish so be careful.

[maldini]

Fraud often happens and always targets a beginner, like I used to when I was new to crypto. I was also a victim of a scam at the time, it was worth around $ 400, that was pretty much for me.
But that's where I started learning, how to be a safe bitcoiner.

Maybe what you say is true, when bitcoin grows up, there will be more interest in crypto criminals for scamming.

[Bustart]

I don't like to get something instant like a big profit investment in a flash and some kind of phishing, that's why I was spared in scammers. Scammers will roam a lot when the market is bullish so be careful.

As the technology is advancing, scammers are also becoming smarter into formulating techniques and strategies on how to have their victims get trapped. They are great at mimicking, so don’t believe everything you see. Don’t be pressured to act immediately, scammers typically try to make you think something in a limited time offer. Make safety and security as the topmost priority, with the appropriate knowledge and skills, you can avoid most scams and help protect yourself and your family.

[arpon11]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

It is seriously a pity for someone losing this huge amount of bitcoin to scammer(1.2m million)  is not a small money. That is why we should had to the advice "to be careful with investments especially those one that are risky in nature" many people has lose money when bitcoin witnessed bull run in 2017 to scammers,  hackers and other criminalities. What op has said is true and that is why before we invest we should think  and before doing anything on the internet be careful.

[Kelvinid]

~snip~

It is seriously a pity for someone losing this huge amount of bitcoin to scammer(1.2m million)  is not a small money. That is why we should had to the advice "to be careful with investments especially those one that are risky in nature" many people has lose money when bitcoin witnessed bull run in 2017 to scammers,  hackers and other criminalities. What op has said is true and that is why before we invest we should think  and before doing anything on the internet be careful.

Imagine how that certain person gives his trust into someone who didn't even know with his life. We've never how it works like that since we are not having a lack of awareness to the public. It may be just because putting in our minds that it will work well and have an instant profit once we directly invest in someone unknown. If we think like these, there are no doubts that we can eliminate scammers.

[MakeMoneyBtc]

This kind of situations happen everywhere, in every domain where we are talking about big money. When there is big money to be made, scammers will always show up and try to steal money from people because they know they have a better chance there. Scams are rising and unfortunately there is not much we can do about that other than be careful and don't fall into their trap so that we don't give them satisfaction to continue doing it.

[Johnzky]

For me this is not a scam.instead this will be considered as stupidity and greediness

Imagine being promised by 15 folds,?yet he believes that promise?damn he deserved What happened because of his own negligence

Hope there is no other person here to buy the idea of gaining bigger or too good to be true

[AntoCokbun]

It cannot be denied that when the price of bitcoin rises, the number of frauds will also increase. crime is not only lurking among the newcomers but it is for all those who are careless. Personally I have never experienced or been involved in a fraud that is harmful, and hopefully never will.

[naufals4]

Actually Scammers have existed since bitcoin was born, when people see something that can give them for or profit then surely there will be a SCAMMER that justifies any means to gain profit by cheating or other scam. so we must be careful about scammers don't trust people that you don't know and suspicious websites

[Yamifoud]

Actually Scammers have existed since bitcoin was born, when people see something that can give them for or profit then surely there will be a SCAMMER that justifies any means to gain profit by cheating or other scam. so we must be careful about scammers don't trust people that you don't know and suspicious websites

It could be easy for them to scam people cause they'll know that a lot of people around have that potential and can be easily to trap with.
Those persons that thinking easy money, instant profit will surely be the first to become their victims.
I hope it will change the mindset of people and never think for it, instead they should work hard in order to get of what they've looking for.

[Bagaji]

That is a huge sum of money buddy, though I have been scammed before now but not as huge as the one you quoted in your write up above. One cannot denying the fact that as Bitcoin value increases, the level of scam activities will increase as well.

[1BTC EQUALS 1CAR]

We already knew that back in 2017. I remember that infamous TBC ot the billion coin from nigeria that all those  unaware victims trying to defend it. This will not stop if people will just not try to be rational when investing in something. I am not wishing this but I am expecting a larger scale of scam when btc approaches $100k.

[CoinEraser]

That is a huge sum of money buddy, though I have been scammed before now but not as huge as the one you quoted in your write up above. One cannot denying the fact that as Bitcoin value increases, the level of scam activities will increase as well.

I'm afraid that's the way it really is. Since I'm use Bitcoin, there's scam in this area, but the higher the price of Bitcoin, the more scammers there are. I even expect it to get even worse over the next few years if the Bitcoins price continues to rise and exceed its old ATH. 

[Skrattar Du]

Well that was really already been expected, that when tge bitcoin rise scammers will also increase, maybe bitcoin is the most amazing coin that can really give us a huge amount of profit and scammers know that the people will really trust bitcoin that is why they use bitcoin to SCAM other so that they can get easy money, that is why we need to be more careful on it.

There is no surprise on that case. It is already expected that many people will took advantage of others just to have the credentials of having money in terms of Bitcoin for their own sake. That is why we Bitcoin owners, holders, users as well as investors must assure that our accounts are in good state and not easily trust the sake of your Bitcoins into other people. Better check first the credibility and reliability of the people we are trying to entrust our Bitcoins because it is hard or worst impossible to retrieve or get back what have been loss once you have already put it into the wrong hands of those people that tends to scam other people just to obtain what they want. Nevertheless, trust no one because Bitcoin as we all know is really that valuable in this market so we must secure it and be responsible enough on handling it on our accounts to avoid being scammed by other people. Be wise on decision making and be careful as always.

[Adriano2010]

I think always hacker will try to steal crypto coins, and in my opinion the main reason is that they want to get crypto because is hard to track them, and not like when they steal funds from banks and get arrested, but i wish on future that most people who want to cashout bitcoin to be asked kyc and not simple kyc a kyc with video and all hackers who will steal crypto to be arrested, maybe this will stop them.

[The Cryptovator]

Yes, as title said, besides of bitcoin raise scammers also raising as well. Especially hackers become more active after sudden pump of of bitcoin. Look like they were waiting for raise of bitcoin. On the other hand more common scams raising also like ICO's and others ponzi schemes. Scammers are always more smart fro us and they know when peoples will fall into their trap. That's why greedy peoples are mostly losing their fund during bitcoin raise.    

[Mpamaegbu]

My head is already "turning" on the 1.2 million pounds scam and I am imagining what could be going on in the victim's mind. It's a huge loss, I must confess. However, I don't agree with the newspaper report that the "victim is experienced in dealing in digital currencies" How could someone with that avowed level of knowledge fall to a HYIP that promised them X15 profit on their investment?

Most times people fall for these things out of pure greed, nothing more. That was how most of us here experienced the "Lending coin era" in 2017 and all the promises of daily interest and most of us couldn't question where the profit was going to be coming from to pay out the interest even though the rogue devs and their teams said it was from trading. Trading what? No clear answers were even given. We forgot that even trading doesn't guaranty anyone daily profit.

[proTECH77]

there have been many frauds under the guise of crypto, but I have never experienced it, but in some cases many have experienced fraud under the guise crypto . and they blame that bitcoin is fake

Indeed, with this surge there will be more scams and frauds that will be see as the surge continues. Many of these scam aren't new to those who have been here for longtime, but the most affected will be the Newbies who are just entry into the world of Cryptocurrency. Scams on twitter and Facebook will increase becasue this happened in 2017, anytime Bitcoin surge there's a possibility of crime increase. Fake project will flow into the the world of cryptocurrency.

[spadormie]

Price is down, price is up scams are always here. This is why being vigilant and alert at all times.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

I'm not a victim yet of a scam in investing but is joining a fraudulent bounty considered? If it is then I am a victim of a fraudulent project because I am a bounty hunter and I did not get paid by the project holders and they ran away. Lesson: DYOR about the project and don't trust immediately.

[Malsetid]

Price is down, price is up scams are always here. This is why being vigilant and alert at all times.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

I'm not a victim yet of a scam in investing but is joining a fraudulent bounty considered? If it is then I am a victim of a fraudulent project because I am a bounty hunter and I did not get paid by the project holders and they ran away. Lesson: DYOR about the project and don't trust immediately.

Ever heard of hyip and ponzi schemes? Back then these are very rampant and unfortunately i got victimized by these when i was just starting with crypto. I think it was called btc river and it was running for 3 weeks already  when i joined and deposited .8 btc. There have been several assurances that it's a safe investment with gains in just a week. No need to do anything. Literally too good to be true lol. In the end, it was indeed too good to be true and i said goodbye to my .8 btc.

[maxreish]

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

Fortunately, I haven't yet experienced some kind of bitcoin scams. But I am aware that such scams are coming out each day. Just foe us to be aware, this is the one we should read about. I believe this bull run makes the fraudsters think of unique way to scam people.
To tell you frankly, the common scam here in our place is the crypto networking business. They have a coin to invest but they have to refer a person to get some benefits. It is very popular but sadly, people here are still getting attached by this kind of scams.

[Rufsilf]

It's already given, when scammers notice that bitcoin price is getting higher then they will do everything in their capability to scam people. Scam is everywhere, scam is not only present for bitcoin even for other currencies. So we really have to be cautious all the time and don't trust on flowery words right away.

[Johnzky]

It's already given, when scammers notice that bitcoin price is getting higher then they will do everything in their capability to scam people. Scam is everywhere, scam is not only present for bitcoin even for other currencies. So we really have to be cautious all the time and don't trust on flowery words right away.

Because the higher the bitcoin price is the more the investors are coming and we cannot deny that in this instance for sure noob and newbie investor's are entering the scene and this. Is the perfect timing that scammers can victimized

[bitzizzix]

If bitcoin continues to increase, it is possible that there will be more fraud and crime just to get bitcoin in any way and must remain vigilant about it all.
do not easily trust anyone to those who promise to provide abundant benefits and eventually they leave and disappear.
and I have experienced it and I am fed up with fraud or crime in the crypto world, and it is very detrimental to many people without thinking how difficult it is for them to get bitcoin and they also need capital to have bitcoin.

[Alpinat]

This the what I am saying that there are so many hackers and scammers nowadays and you are not safe especially when you are not that knowledgable about cryptocurrency. They will just take advantage in you. Last year I nearly got scam but I manage to have proper research about that investment and I immediately leave the investment offer. You need to be smart these days.
Scammers are taking advantage of the anonymity of bitcoin to scam other investors.

[Vaskiy]

This the what I am saying that there are so many hackers and scammers nowadays and you are not safe especially when you are not that knowledgable about cryptocurrency. They will just take advantage in you. Last year I nearly got scam but I manage to have proper research about that investment and I immediately leave the investment offer. You need to be smart these days.
Scammers are taking advantage of the anonymity of bitcoin to scam other investors.

Agreed, scammers will take control of us if they found us not that much knowledged about bitcoin. As days pass more people get to know about cryptocurrencies and the possibilities of scamming gets increased. Rather than getting into the community without any basic will surely lead to trap, because when someone is getting into cryptocurrency usage surely he'll be having a mentality to earn big in very short time period.

[b3llsf1l3s]

If we see the whole part of the problem nowadays, especially how the potential of scam attempt rising, it doesn't affect just by Bitcoin price. actually this already exists, it's just that when the price of bitcoin rises, the new players automatically will also rise, that's where they are often trapped, the scam stays in place, the victims are always new players

[tytanhamon04]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

I got into trouble with phishing and hacking the exchange, but it was entirely my fault. I was not attentive and did not put two-factor authentication.I don't support scammers and thieves, but you can't get rid of them. You need to be very careful !

[ljane]

I will never attribute Bitcoin risning in price against scams also rising. What I have seen is that there will always scam all over the cryptospace even when BTC goes down to less than $2K. People are out there always scamming and they don't and never think of such things .

[Pasaway2701]

If bitcoin continues to increase, it is possible that there will be more fraud and crime just to get bitcoin in any way and must remain vigilant about it all.
do not easily trust anyone to those who promise to provide abundant benefits and eventually they leave and disappear.
and I have experienced it and I am fed up with fraud or crime in the crypto world, and it is very detrimental to many people without thinking how difficult it is for them to get bitcoin and they also need capital to have bitcoin.

I am victimized of scams where I invested my last amount but I never gain from it though I withdraw many times. Bitcoin is rising and also the number of scams, so be careful on every offers that comes near your. It is hard to have a capital in hand just to give on those fraud sites.

[Oceat]

I got into trouble with phishing and hacking the exchange, but it was entirely my fault. I was not attentive and did not put two-factor authentication.I don't support scammers and thieves, but you can't get rid of them. You need to be very careful !

It takes a massive fault before someone has to learn their mistake and for you buddy, you should have learned how to protect your own money. We are in a decentralized crypto space which means we are the one who is controlling who will get in and get out. Don't just take it lightly because you put it on an exchange, exchanges don't help when they get hacked.

[jakelyson]

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Sad but the truth is, that is the easiest way to discredit bitcoin. Any crypto related scams will be labeled bitcoin scams.
Anyway, any scams can easily avoided by a knowledgeable mind. If you can easily identify scams and won't give in to your greed, you will not be a victim. No victim, lesser motivation for scammers to continue their schemes. Let us educate each other.

[Vaculin]

I got into trouble with phishing and hacking the exchange, but it was entirely my fault. I was not attentive and did not put two-factor authentication.I don't support scammers and thieves, but you can't get rid of them. You need to be very careful !

It takes a massive fault before someone has to learn their mistake and for you buddy, you should have learned how to protect your own money. We are in a decentralized crypto space which means we are the one who is controlling who will get in and get out. Don't just take it lightly because you put it on an exchange, exchanges don't help when they get hacked.

Right. In a decentralized system where we belong, we are the ones to take full control of our own money and should be responsible of its security always. Maybe when we commit mistakes sometimes, it can also teach us lessons to be more careful not to let other people scam us again.

[MalakEnay]

I think we should get used to this scenario, because since the Internet has become popular and online payment systems have grown in importance, hackers have always been a step ahead of any system of protection and security, so I do not think there is more attacks and vulnerability that before, but now we worry much more than before because we are more and more who are involved in the issue of online finance.

[Finestream]

I think we should get used to this scenario, because since the Internet has become popular and online payment systems have grown in importance, hackers have always been a step ahead of any system of protection and security, so I do not think there is more attacks and vulnerability that before, but now we worry much more than before because we are more and more who are involved in the issue of online finance.

I agree on you.Scammers have already been here while the price is still low and now that its gaining a high price,the rate of scammers too have been increased making steal all of those hard earned money of the people.We cannot do nothing about this but to be more careful and cautious in every actions we make not to lured by scammers out there.

[minersday]

Any small increase in the market value of Bitcoin drives the attention of both new and old investors into the bitcoin ecosystem with the aim of either investing into new projects or existing projects to increase the amount of Bitcoin they have. Due to this, scammers take advantage of this condition to scam investors off their money by developing crypto projects just for investors to input their capital in without verifying how legit the project is. This usually happens when the price of Bitcoin is in a massive growth within a short period.

[bhabygrim]

We could always look forward to this kind of events every time the crypto rise up ,
There would be a negative news to slow it down ,
And scams connected to Bitcoin or crypto isn't new for us infact it is not surprising anymore.
Look at the binance hacking incident it didn't bother the investors anymore .

[MFahad]

I agree with it, that on online scams are rising and bitcoin is the reason. It is happened because bitcoin is only one popular and high price coin and if we call it money on online then it is much better, that's why scams attract on it and try to earn in this way. So we should careful about online scams, otherwise we have no other option.  

[aioc]

Scammers will go where the money is, and Bitcoin is now huge and many scammers have shifted to Bitcoin and cryptocurrency, in fact, they have been here for a long time, the proof is the scam sections, those who caught and many still get away, and we will see more crypto scammers because of the absence of regulation.

[shesheboy]

I agree with it, that on online scams are rising and bitcoin is the reason.

online scams are already been there before cryptocurrency have been invented  . so its not the fault of cryptos  .

we will see more crypto scammers because of the absence of regulation.

they say that regulation can help minimize the scamming and other online crimes   . 

scams connected to Bitcoin or crypto isn't new for us infact it is not surprising anymore.
Look at the binance hacking incident it didn't bother the investors anymore .

binance being hacked is new to me because binance is a reputable exchange but we cant stop hackers  . many have worried after binance got hacked but they didnt protest because the funds are refunded .

[niisarearning]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

I didnot lost money because of scam . Yes of-course lost money  because of my foolishness and greedy mentality . I dint take profit even i got 10 times of initial investment was expecting Fortune but ididnt happen . I think biggest loss happened for me is Centra the coin was worth 10000$ became nothing once SEC arrested owners . So be sure about platform before investing dont go with a Hype created around the coin.

[MFahad]

I agree with it, that on online scams are rising and bitcoin is the reason.

online scams are already been there before cryptocurrency have been invented  . so its not the fault of cryptos  .

If you want to answer then say it clearly, just write a one line, it is not enough.  
No doubt, before crypto currency, scammers are here, but now time has been changed bitcoin and crypto currency wise some person make scammers, because they want to hack bitcoins, and their target is only bitcoin. Bitfinex and Binance both are big example of hacking bitcoin.

[Furious 7]

Everyone is interested in bitcoin and they start looking for it in various ways. Crime and scammers are always looking for ways to get it. Money is their reason, even before crypto was discovered.
the most important thing is that we are always alert and careful about their deception.

[LogitechMouse]

Since the price of Bitcoin is starting to rise, the scammers are waking up again and trying to scam those newbie investors out there.

I think as an investor, we must know when to invest our money or not. Do a research before throwing your money. Ask opinions to some of your friends regarding the company you want to invest. This can decrease your chances of being scammed but if you really don't want to be scammed, its best if you will not invest .

[hen cet]

I will never attribute Bitcoin risning in price against scams also rising. What I have seen is that there will always scam all over the cryptospace even when BTC goes down to less than $2K. People are out there always scamming and they don't and never think of such things .

Evil is always everywhere, because of our ignorance that will make criminals in action. They work if there is an opportunity, so try so that there are no weaknesses that can harm ourselves.
With the increase in the price of bitcoin, crypto criminals are increasingly aggressive in carrying out their crimes, because the money from the nominal crime is large. In the real world or in cyberspace, crime always exists.

[Apes]

this is what many people worry about, in recent week bitcoin price has been climbing, with a valuable btc price now an ahead that gives impact to fraudsters and scamers looking for various loopholes to steal fund from users. why don't they just quit and make money the right way. we have to do something, before they damage cryptocurrency reputation in the public eye.

[thankyoulord]

well scammers always target anything that has value and pays well. We are no longer new in the crypto world and thus are very much ready to do all we can to make sure these scammers dont succeed. Newcomers should seek advice from people who have been in the crypto space for a long time so they give me advice and information which will prevent them from loosing their hard earned money. I do hope all scammers will be caught one by one.

[Renampun]

1.2 million pounds is a very large amount    

many cases of fraud that occur starting from our wrong decisions, whether it's because we are tempted by big profits, we are too trivial or because we believe too much, the price of Bitcoin that current bull must also give us a lesson to be more careful, because this is the best moment for scammers to commit fraud.

[Siren]

Maybe because baiting is easier when there are lots of prospective victims when the bitcoin price arising,specially those desperately wanted to regain their losses from the bearish 2018 market

Though scammers doesn’t resting all year round but still the luring isn’t effective when the investors having limited capital to risk

1.2 million pounds is a very large amount   

many cases of fraud that occur starting from our wrong decisions, whether it's because we are tempted by big profits, we are too trivial or because we believe too much, the price of Bitcoin that current bull must also give us a lesson to be more careful, because this is the best moment for scammers to commit fraud.

On that we must always remember and never forget that if it’s “Too good to be True”the bigger the chance of being scams so get rid of them and never give a chance to baited you

this is what many people worry about, in recent week bitcoin price has been climbing, with a valuable btc price now an ahead that gives impact to fraudsters and scamers looking for various loopholes to steal fund from users. why don't they just quit and make money the right way. we have to do something, before they damage cryptocurrency reputation in the public eye.

They are skilled person mate(but only for baddest action)and finding right job is the last thing they wanna do because scamming is easy money so why they will need to work hard if they can get easily

[teddyelwyn]

Did you ever see the ciphertrace quarterly report? Crazy times but at least we are getting better at finding these issues before they happen https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

[Sithara007]

1.2 million pounds is a very large amount    

many cases of fraud that occur starting from our wrong decisions, whether it's because we are tempted by big profits, we are too trivial or because we believe too much, the price of Bitcoin that current bull must also give us a lesson to be more careful, because this is the best moment for scammers to commit fraud.

I am afraid that the amount is much larger. Due to the pseudo-anonymous nature of Bitcoins, many of the scams may not be reported to the authorities. Another factor that can discourage the victims to report the crime is the lack of clarity of the legal status of cryptocurrency. In case the victim is not sure whether he will be charged for possessing and trading in cryptocurrency without a permit, then he is less likely to go to the cops and report an incident of scamming or hacking.

[Astvile]

Scammers always comes out whenever the bull run is occuring,people/investors are looking for fast way to grow they  bitcoin amount.People easily fall for people who are promoting something to gain profit easy and fast because they are becoming greedy about bitcoin.Same case also happen last bullrun tons of scam reports

[swordling143]

Bitcoin pumps will definitely attract newbies which could be easy targets for scammers. That is why we need to check for red flags before investing our money. Investment frauds usually come with promises of return that are too good to be true. People should be more responsible with their investments and conduct a thorough research first before diving in.

[XCANA]

Bitcoin pumps will definitely attract newbies which could be easy targets for scammers. ~~~

This was exactly what happened in 2017 when the bull run lingers for a long time, many scammers woke up their high accounts on the forum to scam majorly Newbies because of their greediness. The recent rise or surge in the price of Bitcoin will definitely call for scammers, so, those involve newly should be caution concerning the possibility of be scam. 

[Genamant]

Bitcoin pumps will definitely attract newbies which could be easy targets for scammers. That is why we need to check for red flags before investing our money. Investment frauds usually come with promises of return that are too good to be true. People should be more responsible with their investments and conduct a thorough research first before diving in.

Thats true newbies are really the target of this scammers,  some of the new investors getting into crypto lack of proper knowledge

[okala]

Bitcoin pumps will definitely attract newbies which could be easy targets for scammers. That is why we need to check for red flags before investing our money. Investment frauds usually come with promises of return that are too good to be true. People should be more responsible with their investments and conduct a thorough research first before diving in.

Is it only newbies that are targeted by scammers because no matter what your level of knowledge is if you are too greedy scammers will always get at you, the market have been on bull run in this recent days and scammers always look out for such opportunity to scam people of there hard earn money.

[kingpin4321]

Guess the trend would change now the bitcoin rising drama looks to be coming to an end.
The market has started plummeting and fast at that now the new trend might be bitcoin is falling. well thats the cryptocurrency market for you

[Pamadar]

Bitcoin pumps will definitely attract newbies which could be easy targets for scammers. That is why we need to check for red flags before investing our money. Investment frauds usually come with promises of return that are too good to be true. People should be more responsible with their investments and conduct a thorough research first before diving in.

Thats true newbies are really the target of this scammers,  some of the new investors getting into crypto lack of proper knowledge

With those roller coaster ride with destiny needs to be well understood, scammers are working hard to wait for another prey, they are really making attractive offers things that can't be declined by a investors who didn't pay attention with their security, it's easy for scammers to process more new ways of scamming offers best to deal with it with good knowledge to avoid being victimized.

[Sithara007]

With those roller coaster ride with destiny needs to be well understood, scammers are working hard to wait for another prey, they are really making attractive offers things that can't be declined by a investors who didn't pay attention with their security, it's easy for scammers to process more new ways of scamming offers best to deal with it with good knowledge to avoid being victimized.

It is up to us, to remain vigilant. Never be complacent with your coins. And before investing your heard earned coins in to any new project, study about it thoroughly and go through the posts here in Bitcointalk. Reviews from other websites can be faked. But here in Bitcointalk, the admins make sure that only the honest feedback is allowed to post. Before you invest in any crypto-stock, ICO or any other venture, please go through the thread regarding it here in this forum. If it is a scam, then you will come to know from the responses.

[Msworld83]

When I see all these fraud of a thing attaching thselves to bitcoin I keep wondering why they can't just use little of their time to learn on trading of even start with bounty to.move high in near future as the technology is still very low to what it will become in near future .

But all they think about is getting rid of people with their hard earn money which I think is the worst thing seeing attached to bitcoin and blockchain technology and some that don't know much will never believe bitcoin has nothing to do with it but the bad guys are just using it as a means to get rid of the person.

[michellee]

Scams will always be there with or without we want. They will try everything to get people's money, and they will always trick them, and sometimes they are spreading fake news to the public. As long as we can stay calm to know what is going on in around us and we can always check the news from many sources, I think we can prevent from getting scam by them. We need to be careful in any situations, and we need not to panic if we saw something bad is happening so we can think about the way out and save ourselves.

[BitBustah]

Scams are depressing but these people are usually in really bad poverty and have no other way out.  Its unfortunate but maybe we should trying to tackle the root cause of the problem first.  There is no need to have thousands of billionaires around the world when people continue to starve.

[MiguelCryptoss]

Basically outside the forum, the recent upgrade on the cleaning process on the forum would suggest to one that, the forum in this process has won a battle of active scam around the forum becasue many accounts that are fond of dubious activities like plagiarism, account hack and unquestionable activities within the forum. Those scammer who where waiting for the bull run to come back their illicit activities will be disappointed. Bitcoin will rise and here will be free from scam(minimally).   

[indrakusumaindra]

This is not something new, since bitcoin was created it had been a way for some scammers to get people's hard earned money. Cryptocurrency is their best resort due to it's decentralization and anonymity. With it, they can easily steal and escape without even getting their real identity disclosed. As long as you know how to secure your funds and what to avoid in crypto for you not to be scammed, there's not much to worry. Just stay safe everytime.

Yes many people use this good market condition for their own good and i do think as a smart investors we should analyze every aspect and also there is much regulations that could prevent the fraud and scam in crypto world. So i do think there is no problem and just be aware and be smart when it comes to investing.

[sumangs]

Criminals especially scammers always take advantage on the bitcoin's price and lures gullible people on it. New people holding bitcoin for the first time should know how really bitcoin investment works. If you have non-millennial friend or relative please inform them since it is hard to earn money and then lose it through fraud cryptocurrency investments.

[apkt]

I agree with you, besides increasing bitcoin, scammers also improve. Especially hackers become more active after suddenly pumping bitcoin. Maybe greed is one of the main factors why many people are scammed. For that we must be vigilant and not fall into their trap so that we don't give them satisfaction to continue doing it.

[ghost424]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

This is a sad news for new investors because some of them are already giving a large amount of their money into something they do not know how it works. It is hard to earn money but for scammers, all it takes are orchestrated set of lies to make someone believe on what their investing on is true. We should just stay vigilant and learn to work alone unless we meet them personally. We cannot remove these threats in the system because they are also users like us and it is hard to be differentiated from them because they are also anonymous users.

[d1ceplayer]

Actually with the growing price of bitcoins such number of growing scams can too be expected. Peoples are getting wise and their heads are filling up with the scammy or shaddy ideas. More and more advanced means of scamming are been invented to rip people's money apart. Reading this news, I feel upset and also a bit afraid. The funds which we store in bitcoins might not be safe reading these kind of news but keeping the money safe depends on each of the individual.

We have a lot of varieties and options to store our bitcoins into which can be safest and impossible to hack into. Also, the government as well as the media is always in search of "BITCOIN SCAM" and not "DOLLAR SCAM" only because of bitcoins being decentralized.

[Fredomago]

That why peoples need to educate them self first before putting their life saving in the line. When they got scam who will be blame. Better to learn first before invest.

It's all your obligations to prevent being scammed, this investment currency always have a big risk as scammers and hackers are monitoring
every movements they are targeting newbies and if found any possibilities, they will sucked the wallet right away and ended up to hack
and run with your hard earned money.

[Sithara007]

That why peoples need to educate them self first before putting their life saving in the line. When they got scam who will be blame. Better to learn first before invest.

Well... you are right. If we take some very basic precautions, then more than 99% of the hacking attempts can be prevented. These steps are very simple and easy to implement. One such measure is the activation of 2FA for your wallet. Nowadays, it is beyond retarded not to have 2FA to protect your wallet. This step alone can prevent 90% of the hacking attempts.

[Botnake]

That why peoples need to educate them self first before putting their life saving in the line. When they got scam who will be blame. Better to learn first before invest.

Well... you are right. If we take some very basic precautions, then more than 99% of the hacking attempts can be prevented. These steps are very simple and easy to implement. One such measure is the activation of 2FA for your wallet. Nowadays, it is beyond retarded not to have 2FA to protect your wallet. This step alone can prevent 90% of the hacking attempts.

2FA is really helpful as sometimes if we are careless and we sign in to a fake website, they can steal our information but because of 2FA, they cannot proceed. I just secure my accounts with 2FA last 2017 and so far I never experience any problem regarding my account getting compromise.

[Cosbycoin]

There will always be people scamming people. Even those educated ones still fall as prey to them. This has been brought further by the rise of communication convenience with the use of internet

I truly agree with this. Bitcoins is a currency which has thousands of benefits along with the potential to make us earn a stable income. It attracts a lot of peoples who have a lot of money with them to invest but lack in knowledge which are the easy targets of peoples who are sitting outside to scam. New peoples are majorly been scammed by promising high returns on their investments or by selling fake/dead tokens. This makes the peoples have less faith in the decentralized world which is not at all a good thing for us here. Lot more new peoples should be engaged into the decentralized activities so that the demand and supply both rises for bitcoins but peoples who are scamming newbies are really creating a disturbance in the community.

[acroman08]

We can only blame ourselves, scams runs rampant in every part of the world. with that kind of money he should've been
more cautious and he should've known that scammers are common in bitcoin world and the people who uses it knows it.
only an ignorant will blame bitcoin for this!

[soulripper]

If there a chance to make big money scammers will go there. Most of their victims are newbies in this cryptocurrency field that hope can make money from thin air. Scammer will everywhere so always keep on date with knowledge so we can avoid this scam thing away.

[antisocial77]

Whatever we do, whatever countries do there are always be scammers and there always will be.thüs is not only for crypto, if eebare talking about money, scammers are part of it.

[nicko122]

It is a pity those people who fell for the tricks of fraudsters and thieves. After all, each of us can be in their place. Therefore, in our days, modern technologies need to observe maximum safety, to be as careful as possible and not to trust any of the strangers, especially to those who promise the golden mountains.

[izanagi narukami]

Bitcoin or cryptocurrency is not scam , they are investment but risky one because the value purely depend on demand based on crypto traders.
It's different like gold or diamond investment because everyone around the world ( who own ) interest on them

About people who believe that third party can made profit from bitcoin investment ?
I better to trade directly into local exchange rather through third party

[ene1980]

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

It is a fact that any scams done with bitcoin is terms as bitcoin scams and when it comes to fiat it is generally termed as scam, the common people who are not following the market might think that all the scams are done with bitcoin and it might be a hurdle to break that illusion but people who understand the market knows that people are taking advantage of the platform to scam innocent people who are trying to maximize the profit by investing in ponzi and scam investments.
I am a realist and i will never trust anyone who claim that they can multiply my coins for free, i will use my brain before investing rather than thinking from my bottom  .

[zgrdyg]

Well, it is simple math.

Bitcoin rising means, new people, joining into crypto and hopping the train. Scammers always here but now they have new people to scam, and they have no idea.

[Vishnu.Reang]

Well, it is simple math.

Bitcoin rising means, new people, joining into crypto and hopping the train. Scammers always here but now they have new people to scam, and they have no idea.

If something like that happens, then these new people need to be blamed first. Before investing in any asset, they need to study about the risks involved. And one of the risks involved in investing in cryptocurrency is the chance of your wallet getting hacked and coins stolen by the criminals. Before making the investment, they should learn how to protect their coins.

[pundit]

If people fall for such scams which promise to multiply their investment then they really need do some deep analysis. Why would someone give you money for no reason? Greed is a bad thing, if you have money just invest it in some potential coins,you may not have much profit but you investment will not be scammed by anyone. People should be sensitive to share their account information on any unknown link. Scams can be avoided with little precautions taken.

[FullofAlba]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

https://pbs.twimg.com/media/D5-szxWWsAAAm9p.jpg

This is insane!!! I am lost for words..

[joshy23]

If people fall for such scams which promise to multiply their investment then they really need do some deep analysis. Why would someone give you money for no reason? Greed is a bad thing, if you have money just invest it in some potential coins,you may not have much profit but you investment will not be scammed by anyone. People should be sensitive to share their account information on any unknown link. Scams can be avoided with little precautions taken.

Anyway that's your money that you need to protect, if you can buy those projects that already been inside the top rated projects even you don't have  a huge returned its still better than risking your fate with someone which can possibly scammed you and stole your money, always have a good sets of plans while investing, proper analysis will help you to avoid losing your money.

[Nanagyasi]

This is definitely true and it is an advice to all newbies. In crypto world, don't trust anybody and don't fall for unrealistic investment schemes. It is a trap.

[XCANA]

Guess the trend would change now the bitcoin rising drama looks to be coming to an end.
The market has started plummeting and fast at that now the new trend might be bitcoin is falling. well thats the cryptocurrency market for you

  agree with you, there aren't want to see the price going down anymore which is impossible, becasue of it nature of volatility. They should learn to understand the technology to worry less or else be hypertensive. The price has started growing again and at this time, to another new height. 

[Netnox]

This is definitely true and it is an advice to all newbies. In crypto world, don't trust anybody and don't fall for unrealistic investment schemes. It is a trap.

True. There are so many of these investment schemes going around, and the vast majority of them are ponzis. The truth is that with Bitcoins, we don't need to make any other investment. Bitcoin by itself is a very good investment. Since it is protected against inflation, we don't really need to increase the number of coins by any sort of investment.

[Eildosa]

With me fortunately not happened such stories. But I really don't understand those people who call bitcoin a scam. Scammers use Fiat currencies too, but we use them.

[Firecold4]

I was once cheated on a bitcoin investment site at that time the price of bitcoin was only $ 1200 and the trend of mining and mining equipment investment with the lure of return on capital and large profits then I invested $ 300 after 17 days I invested the site scam even though 1% per day  what I got was only $ 51 and I lost most of my capital there so I suggest that it is better to be careful in choosing sites that we will invest so that we don't get scam

[Marry Finch]

Of course, we see that the more money is sucked into a cryptocurrency trade, the more interest it causes to fraudsters and hackers. Especially in the period when the cryptocurrency will not be regulated by the relevant state bodies by the majority of states. The absence of such regulation means practically impunity for these intruders. After all, they are very difficult to install via the Internet, taking into account the fact that they can be located in any state, including one that is not part of Interpol.
Fraud and hacking are one of the biggest problems in cryptocurrency.

[tippytoes]

With me fortunately not happened such stories. But I really don't understand those people who call bitcoin a scam. Scammers use Fiat currencies too, but we use them.

Those people who call bitcoin as a scam are those that really don't understand the concept of bitcoin or cryptocurrency. They thought that when they hear bitcoin, it automatically equates to the notion of scam. The media is not really good in portraying the image of crypto, many of whom are only dwelling with the negative issues or problems encountered in the crypto industry. Hacking incidents are highlighted giving misconception from newbie crypto users. Even without crypto, the presence of scammers are already everywhere. And now they found a new haven to be anonymous, dealing with crypto projects. If you are a newbie to crypto, better learn the basics and read articles pertaining to this topic or better yet, this forum alone will give you so much information that you need in understanding what crypto really is.

[SaShiRaJaVu]

I was once cheated on a bitcoin investment site at that time the price of bitcoin was only $ 1200 and the trend of mining and mining equipment investment with the lure of return on capital and large profits then I invested $ 300 after 17 days I invested the site scam even though 1% per day  what I got was only $ 51 and I lost most of my capital there so I suggest that it is better to be careful in choosing sites that we will invest so that we don't get scam

You will not find a single legit site that will give your returns for your investment and if someone claims that they can provide you with profits, just imagine how those profits are coming by and i am sure they will not explain how they are making those profits, they will have a vague response that they will be investing somewhere else and hence you will get those profits which is bogus, the only way to make money is trading .

[bloodyvio]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

you forget one more thing
not just a scam is increasing when bitcoin is rising
but also ransomware lol
the hackers forced their victims to pay using bitcoin to release their data 

[waynechong1995]

Treasure your bitcoins like how you did with your bank accounts. Many simply sees digital money more lightly than others and tempted for easy folds to double the digits. Whenever it's trading or any external methods. If you aren't controlling your private key that hard earned money doesn't belongs to you at all. Did received a couple ICO scams when those days ICO is hot, even with a fake etherwallet site as ads on Google searching results!

[Compiler]

I do not think that the scams will grow, the difference that there is now with before, is that now almost all ask for kyc, and you can trust more of those who do not ask for anything, nor do they know who they are, because now there is more police cybersecurity alert.

[kaya11]

It is natural, where there are lots of money there are people in there for sure and probably some are bad people. I hope one day if Bitcoin and other crypto will be in the mainstream governments would offer free orientation services and briefings about the crypto world for the new investors in order for them to avoid future scams, even though a little information it could help minimize the victims of traps.

[Vishnu.Reang]

Treasure your bitcoins like how you did with your bank accounts. Many simply sees digital money more lightly than others and tempted for easy folds to double the digits. Whenever it's trading or any external methods. If you aren't controlling your private key that hard earned money doesn't belongs to you at all. Did received a couple ICO scams when those days ICO is hot, even with a fake etherwallet site as ads on Google searching results!

Most of the users here receive their coins from bounty campaigns and signatures. In the vast majority of the cases, they are not investing any of their fiat money in to crypto. And this is the main reason why most of us behave somewhat carelessly while dealing with cryptos. Another reason can be a sense of over-confidence, that the hackers are never going to target their wallet.

[Reatim]

Well we can expect more than this,scammers wanna have part from our profit here,they don’t want only us who celebrate from the bull run lol

I hate to say this but those noob and greed are mostly become the victims by this because scammers can feel that they are easily can be lured and take money from them

[geegaw]

It is natural, where there are lots of money there are people in there for sure and probably some are bad people. I hope one day if Bitcoin and other crypto will be in the mainstream governments would offer free orientation services and briefings about the crypto world for the new investors in order for them to avoid future scams, even though a little information it could help minimize the victims of traps.

Indeed, an area that can provide too much money after only a few frauds, especially those assets can increase very rapidly in a short time, the amount of fraud will increase when the price of bitcoin increases is a certainty. Even if the government is able to provide full knowledge of crypto and bitcoin to people, phishing still increases and many people will still fall into the trap when the set up of scams from scammers is too detailed, and the government still can't control the activities here, so newbie and old people should still carefully check the projects before joining.

[Rufsilf]

Scams have existed since the birth of the internet, even before it. I don't really expect scams to go away regardless of the market situation, but yea, in bullish times, scams tend to be more numerous and spread out due to the number of inexperienced investors going into the cryptocurrency markets. Keep your eyes peeled at all times, regardless of the price of bitcoin.

I agree, even before the birth of bitcoin scam is already present and now because of the popularity of bitcoin it will surely get the attention of the scammers and they normally target newcomers because they tend to trust easily and get easily persuaded by flowery words. We can't really remove fraud from happening but what we can do is be very careful whom we transact with.

[soulripper]

Scammers will take any chance they can get to make money. Bitcoin is a big money so scammers see this as a chance to make money. To prevent this investors need to educate themself as scammers will always waiting for someone fall to their bait.

[Novatech8]

The ones I'm so worried about are the newbies that are coming into the crypto space this days ,they are easily scammed and they are the ones putting blame on bitcoin,calling it scam currency ,I wish newbies takes time to learn first

[uray]

Most of the users here receive their coins from bounty campaigns and signatures. In the vast majority of the cases, they are not investing any of their fiat money in to crypto. And this is the main reason why most of us behave somewhat carelessly while dealing with cryptos. Another reason can be a sense of over-confidence, that the hackers are never going to target their wallet.

Many people are careless and so is the reason these scammers are taking advantage of the ignorance and the curiosity to increase the profit in a short cut is the biggest problem, people think that they could increase their profit by investing in platforms that promises good returns than the banking sector and people will jump into those thinking they can earn easy profits, if people understand the risk they are taking, these kind of scams will end and it is not about free coins they get or being over confident but the lure of doubling without any effort is the main reason.

[sngwinner]

I lost some few dollars to these investment agencies. They promised huge returns and they lured me into it.
Definitely, once btc begins to pump up, more newbies will be attracted to come into crypto and that will pave way for scammers to scam more people.

[rdbase]

This is the pitfall with wanting to make fast money. They fail to realize they could be taken for a ride and fall into the trap of being conned like this person did out of a fortune.
You cant blame bitcoin for it. This could be done just as easily if they wired money to them by bank transfer or even using debt card with a different inquiry unrelated to bitcoin.

[adzino]

This is nothing to be afraid of. It is totally inevitable. The more the words of bitcoin is being spread, the more attention it is getting from the scammers. It is our responsibility to keep ourselves secure from these kinds of scam. We need to learn how to protect our coins from those attackers. Those scams are actually helping us strengthen our infrastructure and the crypto community.

[samycoin]

I think it's a reality and it's expected to this kind of investment because we some of people are have big investments in crypto so scammer are always there to get what we earned. So always be careful and be vigilant because in crypto is not safe but good to invest.

[Gaff]

It is natural, where there are lots of money there are people in there for sure and probably some are bad people. I hope one day if Bitcoin and other crypto will be in the mainstream governments would offer free orientation services and briefings about the crypto world for the new investors in order for them to avoid future scams, even though a little information it could help minimize the victims of traps.

Indeed, an area that can provide too much money after only a few frauds, especially those assets can increase very rapidly in a short time, the amount of fraud will increase when the price of bitcoin increases is a certainty. Even if the government is able to provide full knowledge of crypto and bitcoin to people, phishing still increases and many people will still fall into the trap when the set up of scams from scammers is too detailed, and the government still can't control the activities here, so newbie and old people should still carefully check the projects before joining.

I think the regulation in every trading site can help avoid those scammers behind us. If people will be wiser enough in dealing with those faulty projects, I guess scammers will be lessen. We can't control those people since in the world of physical money fraudulent people existed already how much more with virtualized currency. So in general, there should proper implementation in each bodies to monitor those activities which always be linked to being victim of scams which is probable to happen these days that bitcoin is rising it's popularity.

[Finestream]

I think it's a reality and it's expected to this kind of investment because we some of people are have big investments in crypto so scammer are always there to get what we earned. So always be careful and be vigilant because in crypto is not safe but good to invest.

Right.We all have to face this reality that scammers are everywhere just to steal the hard earned bitcoins of some successful people in bitcoin community.All we have to do is accept the fact and be more careful and cautious to be more responsible in managing our own finances.

[xSkylarx]

It is because there are more people that wants to get rich quickly. Someone introduces them bitcoin and promises them a huge return. These people don't research by themselves and become a scam victim in the end. They trust that person who introduce them bitcoin because he is reputable enough and trust them with their own money.

[niisarearning]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

Scammers not even leaving small investors like us after bitcoin price increase there is lots of scammers are trying to reach us either form social media or through mail . Even in my country there are lots of scam happened even worse than this.

[bandungan]

Well that was really already been expected, that when tge bitcoin rise scammers will also increase, maybe bitcoin is the most amazing coin that can really give us a huge amount of profit and scammers know that the people will really trust bitcoin that is why they use bitcoin to SCAM other so that they can get easy money, that is why we need to be more careful on it.

sometimes the increase in bitcoin is not utilized optimally because there are people who have no responsibility and they use it to cheat. so we have to really be able to tell which one is connected with bitcoin whether scam or not and always be vigilant

[7788bitcoin]

It is because there are more people that wants to get rich quickly. Someone introduces them bitcoin and promises them a huge return. These people don't research by themselves and become a scam victim in the end. They trust that person who introduce them bitcoin because he is reputable enough and trust them with their own money.

The main reason for these scams is simply the thought of getting rich quick policy and the scammers are taking full advantage of these noobs who does not understand what is legit and what is a scam and when it comes to multiplying your money and these people will not think twice even if the idea is silly as the 18th century scams, when will we see some changes in their mindset even if you hear thousands of scam stories .

[jems]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

Scammers not even leaving small investors like us after bitcoin price increase there is lots of scammers are trying to reach us either form social media or through mail . Even in my country there are lots of scam happened even worse than this.

It's really nasty and I agree with you that nowadays scammers have proliferated a lot even they use social media. The thing I see most often is on a telegram where many people send private messages and bla bla bla he starts acting.

[XCANA]

Well that was really already been expected, that when tge bitcoin rise scammers will also increase, maybe bitcoin is the most amazing coin that can really give us a huge amount of profit and scammers know that the people will really trust bitcoin that is why they use bitcoin to SCAM other so that they can get easy money, that is why we need to be more careful on it.

sometimes the increase in bitcoin is not utilized optimally because there are people who have no responsibility and they use it to cheat. so we have to really be able to tell which one is connected with bitcoin whether scam or not and always be vigilant

Without any iota of doubt, whenever there is a rise in Bitcoin price there's a seeming possibility of scammers infiltrating into the system to steal from greedy investors. Most of these scams are caused by greediness on the part of the victims, i am a case study as this happened to me last bull run which almost caused me roughly $1,000 at a blow, so, watch-out for bogus profits and unrealistic profits or gain from projects that claim them.

[therhslv]

There is always scams rising where money is made . The more attraction got crypto the more scams will come out and there will be always people who will get caught in scams I did remember few people in 2018 where did they sent alot of ETH because somebody messaged them in telegram to invest in project and they will get bonus . Scammers did create fake contract adress with same project name and ticker . People should think outside of the box instead of being stupid ....

[Dontme]

As bitcoin rising, many newbies will get excited on investing in bitcoin and some people will take this opportunity to make scheme just to scam newbies who don`t have enough knowledge about it.

[Hypnosis00]

There is always scams rising where money is made . The more attraction got crypto the more scams will come out and there will be always people who will get caught in scams I did remember few people in 2018 where did they sent alot of ETH because somebody messaged them in telegram to invest in project and they will get bonus . Scammers did create fake contract adress with same project name and ticker . People should think outside of the box instead of being stupid ....

Crypto prices really enticing people to scam others as they are also taking advantage those people who are wanting easy money returns. Not really bad if they are not the right target for scammers but if they are, will absolutely giving them a lesson to learn with regrets.

[Vishnu.Reang]

As bitcoin rising, many newbies will get excited on investing in bitcoin and some people will take this opportunity to make scheme just to scam newbies who don`t have enough knowledge about it.

Depends on media coverage. There will be more coverage about cryptocurrency in the mainstream media, if there is a big fluctuation in the prices. And this will result in a large number of new users investing their money in to Bitcoin. The problem is that a lot of these people will make their investments before making a proper study of the cryptocurrency. And such people are very vulnerable to scams.

[YOSHIE]

From where do you know if Bitcoin goes up the fraudster also adds, I don't think, in terms of which this can appear.
Which I know the Bitcoin system sells and is bought by pentrading,
Maksutnya: while the current transaction likes to be happy the Balinese selling process occurs.
Not on bitcoin price increases, increasing fraud.

[bitzizzix]

And if bitcoin reaches a very high price, the possibility of fraud will increase because they will do anything to have bitcoin.
and especially beginners that we must be aware of, and many beginners who want to have bitcoin in a fast and wrong way without thinking of other people who have been harmed.

[Pom_bensin]

As bitcoin rising, many newbies will get excited on investing in bitcoin and some people will take this opportunity to make scheme just to scam newbies who don`t have enough knowledge about it.

beginners should be told about this so that beginners are not exposed to scams by greedy people to make a profit. so I think beginners should understand this situation and be more careful.

[BL46K 7193R]

Yes, I agree with you that the use of bitcoin is increasing as well as the number of scammers, hackers, phishers are increasing. Many of the crypto users have been subjected to many damages. This is the most likely way to get rid of this kind of new user abuse. So we all have to be careful. And here it has been said that those who have encountered such scammers, hackers, phishers can share their bad experiences while others can learn.

[hahahafr]

That's the paiful truth about the rise of the cryptomarket. Many people take advantage of the rise of the crypto market and launch a whole lot  of fake ICOs adn now currently IEO. Careful when investing into any project folks, so that you don't get scammed and lose your money.

[shannelcoin]

People already know that especially to the people that almost of their life is on crypto. Some of us are immune about scamming in crypto because where ever you will go their some people will take advantage everything to make their life more rich. That's why need to be more vigilant in crypto because no one you can trust in crypto, always be careful to your transaction.

[rdbase]

Being greedy like this will always end up in tragedy for the ill informed investor.
With the dramatic rise of it happening there are task forces to fight against the ones who come up with these schemes to scam the ones who have crypto.
Hearing this on the news lately there are cyber crime units just for these involving cryptocurrenies suddenly. 

[franciscoDC]

As long as the bitcoin price is rising the scammers rates was also too coz they have a chance to get more people to be scam,but the more they have the more people will know it and they will be smart in everything.

[DreamStage]

Scams have existed since the birth of the internet, even before it. I don't really expect scams to go away regardless of the market situation, but yea, in bullish times, scams tend to be more numerous and spread out due to the number of inexperienced investors going into the cryptocurrency markets. Keep your eyes peeled at all times, regardless of the price of bitcoin.

I agree, even before the birth of bitcoin scam is already present and now because of the popularity of bitcoin it will surely get the attention of the scammers and they normally target newcomers because they tend to trust easily and get easily persuaded by flowery words. We can't really remove fraud from happening but what we can do is be very careful whom we transact with.

Just look at the amount of free advertisement sights you can take about getting some cash in return of easy mining or double your coins and more stuff related to Crypto.
It is as a finger snap especially to those who have no understandings of what can be scam and what can not. People need to realize in obtaining information is the first thing they should do when becoming newcomers to Crypto world.

[nydiacaskey01]

This goes along whenever Bitcoin is on the rise and you will be surprised that even when there's a lot of scams has been exposed to the public and a lot of warnings has been published, people continue to patronize scams like those doublers and 1.5% per day interest in 60 days schemes. It's also the fault of this people patronize and promotes it.

[Vaculin]

This goes along whenever Bitcoin is on the rise and you will be surprised that even when there's a lot of scams has been exposed to the public and a lot of warnings has been published, people continue to patronize scams like those doublers and 1.5% per day interest in 60 days schemes. It's also the fault of this people patronize and promotes it.

They can't blame bitcoin for this, but they should blame themselves. The scams rate is higher when the market is better as scammers will again take the opportunity to scam since bitcoin is again popular due to the fact that it's again bullish. While some people learn from their mistakes, there are also new comers that will be victims of these scams.

[coin-investor]

Until now media is full of ignorant people that keep insisting, that Bitcoin is a Ponzi scheme, this is one of the things that hinders Bitcoin adoption, eventually time will come, that people will realize how great this technology is, there will still a lot of scamming going on because there is huge money to be made in cryptocurrency, just be careful and educated.

[Mike Mayor]

So someone involved in trading at that level and managed to amass that amount loses to a promise of 18x your input? -_- Obviously 18x your investment will never happen especially in massive amounts like that and it happened over 18 months. Was the smoking crack at that stage? Like is says there were several transactions so he got scammed several times. How do idiots like that make bitcoin anyway? Probably was just an early adopter who is now greedy. That was such a lot of money to live a perfect life. He could have even invested it in the bank and lived off the interest. Gosh, how human greed overcomes brain power.

[Tagus45]

When bitcoin increases in value, scammers will also see it as an opportunity to make a profit, and therefore they will do everything they can to cheat people.

[Kensyin]

If in the lyrics of what you mean, obviously I agree with you for fraudulent matters, especially many of them where money revolves in the digital world. And there is a lot of money in it. And this is what causes hackers to be more active.

[hulla]

When bitcoin increases in value, scammers will also see it as an opportunity to make a profit, and therefore they will do everything they can to cheat people.

Scammers are every where buddy and it not the situation of when Bitcoin increases scammers increases because it was actually the situation of when Bitcoin halving is around the corner crypto scammer increases.
If you can recollect what happen during the previous halving you will know I'm right

[proTECH77]

This goes along whenever Bitcoin is on the rise and you will be surprised that even when there's a lot of scams has been exposed to the public and a lot of warnings has been published, people continue to patronize scams like those doublers and 1.5% per day interest in 60 days schemes. It's also the fault of this people patronize and promotes it.

We don't need to blame them for patronizing them, but that they fall for the same trick over and over again. These bogus rewards are better than nothing, and those that are involve are those with greed. Greediness can make it cheap for anyone to fall for a scam either small or great, so, let not be greedy.

[Viscore]

This goes along whenever Bitcoin is on the rise and you will be surprised that even when there's a lot of scams has been exposed to the public and a lot of warnings has been published, people continue to patronize scams like those doublers and 1.5% per day interest in 60 days schemes. It's also the fault of this people patronize and promotes it.

We don't need to blame them for patronizing them, but that they fall for the same trick over and over again. These bogus rewards are better than nothing, and those that are involve are those with greed. Greediness can make it cheap for anyone to fall for a scam either small or great, so, let not be greedy.

Greediness is always a part of our life and we can't escape from being like that. We can't felt it because we tried to control it kept inside but it for sure, it soon moves out and take control into our mind. No wonder how people go like that cause it seems to be normal today, we need money, right? And being greedy will lead to making money a lot. I have to be greedy sometimes but of course, we need to think its limitation.

[luigi3]

Yes,the percentage of scammers now was too high like what is happenig to the price of bitcoin because they can easily hire some people to take their scam project and also they use bitcoin for their flowery voice,so be smart for them and do not take it rapidly because you will regret if you are going to be eagerly for them.

[ethereumhunter]

BITCOIN RISING, SCAMS RISING  BTC RISING WILL GIVE SCAMS GOOD OPPURTUNITY OF RISING BECAUSE THEY WILL  BE MAKING MORE MONEY.

As long as we can stay away from the suspicious links or programs in out there, we don't have to afraid from the scam. We could continue to make money from what we did before, but we still are careful to always double check the links that we want to visit. The scamming will be there and searching for the people who cannot protect themselves so they can steal their money and run away.

[bittick]

This goes along whenever Bitcoin is on the rise and you will be surprised that even when there's a lot of scams has been exposed to the public and a lot of warnings has been published, people continue to patronize scams like those doublers and 1.5% per day interest in 60 days schemes. It's also the fault of this people patronize and promotes it.

We don't need to blame them for patronizing them, but that they fall for the same trick over and over again. These bogus rewards are better than nothing, and those that are involve are those with greed. Greediness can make it cheap for anyone to fall for a scam either small or great, so, let not be greedy.

I've seen many people falling over stupid ponzi scheme and many convincing "too good to be true" stuff all over again and that kinda makes me pissed to be honest.
There's also many people taking advantage of the refferal link they think following that program will bring them profits but no, that program will bring calamity for many people financial and economic circumstances.

[Vishnu.Reang]

I would say that the incidence of scam and fraud has reduced over the years. If you check the older threads, then you will get an idea. I browsed through the posts from 2013 and 2014, and back then scams were very frequent. I guess that the users have become more cautious and careful by now and this is preventing most of the attempted scams. 

[Payme21]

This is expected and will be experienced by many as these hackers and cheats will only become wiser and even more sophisticated but that does not mean you will fall victim, especially if you have taken your security measures accurately

[lepbagong]

It seems that this can not be separated from this, where there is an increase in the value of bitcoin so many are tempted to do things that are not commendable by cheating. it seems that fraud can also occur if crypto is not good. carefulness is needed in stepping and not always tempted by seduction that seems to be profitable.

[oseikuf44]

Bitcoins has more enemies that wish bad for it than lovers of it that is why with the with a little scam recorded about Bitcoins is hyped in the media but dollar scam seems normal. As Bitcoins is entering a bull run, some bad guys might use the opportunity to prey on newbies and eventually Bitcoins will be tag again as scam.

[javainn]

This goes along whenever Bitcoin is on the rise and you will be surprised that even when there's a lot of scams has been exposed to the public and a lot of warnings has been published, people continue to patronize scams like those doublers and 1.5% per day interest in 60 days schemes. It's also the fault of this people patronize and promotes it.

many people use it to make a profit without thinking about the loss of others. should the person be able to choose and analyze what they can do about bitcoin whether it is true or not. so fraud in the name of bitcoin will not occur and spread widely

[2double0]

I didn't lose BTC but ETH in a transaction I didn't use an escrow in.

https://bitcointalk.org/index.php?topic=5136940.msg50803111#msg50803111

I gave all the details in the thread for everyone here to see and learn from my mistakes and never trust anybody without an escrow even if you had more than 100 deals with them as in today's world, anyone can scam due to various reasons.

[bitzizzix]

In my opinion, in any situation bitcoin is increasing or there is no increase in scamer has been around for a long time.
and if bitcoin increases very high, I think more and more scams will try in any way to be able to have bitcoin in a criminal way or by any means without thinking of people who have been harmed because what he has in mind is that bitcoin will make lots of money and will make it rich.

[Vishnu.Reang]

Lack of legalization or the lack of clarity in the legal status is the main reason why there are so many scams with the cryptocurrencies. The criminals know that even if they con someone, there is a low chance of the victim going to the cops and complaining about the incident (especially in countries such as India and China, where the legal status is unclear).

[FUD Expert]

I agree because I notice a much more quiet events of scams in the last year up to the present compared to 2017. Scams like thebillioncoin, one coin that existed on facebook. There are also hyips that got me attracted and lost my money. Only left by now are those telegram scammers pretending to be part of any team. I don't see much of them nowadays but like you said OP, I'm certain that they are going to change their scam strategy.

[bettercrypto]

Expect the unexpected! Bitcoin is becoming popular all over the world. And because of that, many scammers are taking it advantage in order to fool people. I believe that if these scammers will be prevented to penetrate in this industry, scamming will be lessen. At the same, we will expect a large number of investors who are confident with their investment.

[Lily_Olive]

Scams have existed since the birth of the internet, even before it. I don't really expect scams to go away regardless of the market situation, but yea, in bullish times, scams tend to be more numerous and spread out due to the number of inexperienced investors going into the cryptocurrency markets. Keep your eyes peeled at all times, regardless of the price of bitcoin.

Yeah right scams and hacking of data  are very common and it is strt when the  internet cane being.  So we should be aware from these scams

[Vishnu.Reang]

Expect the unexpected! Bitcoin is becoming popular all over the world. And because of that, many scammers are taking it advantage in order to fool people. I believe that if these scammers will be prevented to penetrate in this industry, scamming will be lessen. At the same, we will expect a large number of investors who are confident with their investment.

Scams are more successful when people are not knowledgeable about something. Right now, we are still going through the early adopter phase and ordinary people are mostly ignorant about the basics of Bitcoin (although many of them might have heard about it). So for the next few years we need to deal with these scams, but educating people against them can make a difference.

[FlightyPouch]

Scams have existed since the birth of the internet, even before it. I don't really expect scams to go away regardless of the market situation, but yea, in bullish times, scams tend to be more numerous and spread out due to the number of inexperienced investors going into the cryptocurrency markets. Keep your eyes peeled at all times, regardless of the price of bitcoin.

Yeah right scams and hacking of data  are very common and it is strt when the  internet cane being.  So we should be aware from these scams

Not just aware of this scams but we should know how it works so you will be able to know what you will be doing when you encounter this kind of people. We should be really careful on the links we click even if it is a link sent by our friends. It might be contaminated with virus that can make then access your PC and steal personal identities or accounts that is so important.

[veleten]

the article itself is pretty old as far as I know
and here we go again - the media hypes bitcoin and projects it as something that criminals use
if we look at the amount of bitcoin scams and money laundering vs fiat , it pales in comparison
but bitcoin is news so they continue to feed us this nonsense time after time
almost every more or less notable crime that involves cryptocurrencies , immediately is in the news
while the day after day banking schemes and fiat related crimes are too many and too often to cause any interest from the general public   

[judeafante]

It's the popularity of Bitcoin being a decentralized currency and anonymous that makes it a vehicle for people to scam guillible investors, and yes it's not the fault of Bitcoin but people with criminal minds who uses Bitcoin as a tool to scam people.

[xWolfx]

It's funny because a lot of us complains because we're not rich, right?. But turns out that making mistakes while not rich ends up a lot more cheap.

I bet that it was still a fraction of his total assets though, like how it is with most people. With the difference that someone with financial education won't sacrifice his house for an investment normally if they understood the thing good enough.

I personally don't understand the love of money much. So i end up commuting to donate a percentage of all my income no matter what to a charity of my choosing. It's a nice mental trick that could be useful for someone who reads.

[clair508]

Yes.That true.When the bitcoin rising,scams rising.Its not only for bitcoin.its common for everything that has value.Man's nature we can't change that.Their never ending greedy seduce them to have more and more.Once you cross the line you never fear to do that again.Only care about himself only.To avoid scams you must carefully watch their every report,plans,who they are and everything.If not you will be a victim.

“Earth provides enough to satisfy every man's needs, but not every man's greed.” -Mahatma Gandhi

[lohladex]

The Bad actors in Crypto Space have tarnished the image of Bitcoin that was invented with good intention. Bitcoin was invented  to set the World free from Central government tyranny but the image of this currency has been corrupted .New people in the industry always fall victim in these class of scam tricks. I have also been a victim of Bitcoin fraud when i first got into the Space but i  got trained to be very smart and wise. Its a pity there is no how the activities of these bad scammers can be completely stopped and the newbies will be falling victim. I believe Cryptocurrency Media and News can be of great help by creating enlightenment program to educate the newbies and people in the system generally in other not to be falling victim of these bad actors.

[Upgate]

Scammers are in every angles to dupe people. Now it's really hard to differentiate them. If you notice what is happening now, investors are scared to invest until your project goes live. Nobody wants to loose or fall victim

[PDAngel]

This is not new to me, we all know that bitcoin is very anonymous when it comes identity that is why many scammers are use it to cheat people for their own benefits. All we need to do is be careful and observant.

[Janation]

It's the popularity of Bitcoin being a decentralized currency and anonymous that makes it a vehicle for people to scam guillible investors, and yes it's not the fault of Bitcoin but people with criminal minds who uses Bitcoin as a tool to scam people.

And we can't control people like that.

What we can do is just be careful and be conscious of these people. If you know what you really are doing, you know how these scammers scam people, then you can prevent yourself from being scammed and you can also spread this prevention to other people maybe by writing an article or posting it here in the forum. We can't stop people but we can educate them about it.

[Naginiya]

It's the popularity of Bitcoin being a decentralized currency and anonymous that makes it a vehicle for people to scam guillible investors, and yes it's not the fault of Bitcoin but people with criminal minds who uses Bitcoin as a tool to scam people.

I'm 100% agree with your saying.Its not fault of bitcoin.Like a knife you can use it different purposes and you can even kill from that.User decide how to use that.You can cut vegetables,fruits or man.In the court do we blame the knife if someone killed using knife? Killer is not the knife.Killer is who who use knife to kill.Do we suspend all knifes? Think again.It same comes to bitcoin.Same theory.I wonder why most people don't understand this and blame the bitcoin.

[Leh-Meh]

Expect the unexpected! Bitcoin is becoming popular all over the world. And because of that, many scammers are taking it advantage in order to fool people. I believe that if these scammers will be prevented to penetrate in this industry, scamming will be lessen. At the same, we will expect a large number of investors who are confident with their investment.

the owner of bitconnect.com got arrested in India for $14 billion ponzi scheme using Bitcoins.

[Golftech]

It's the popularity of Bitcoin being a decentralized currency and anonymous that makes it a vehicle for people to scam guillible investors, and yes it's not the fault of Bitcoin but people with criminal minds who uses Bitcoin as a tool to scam people.

And we can't control people like that.

What we can do is just be careful and be conscious of these people. If you know what you really are doing, you know how these scammers scam people, then you can prevent yourself from being scammed and you can also spread this prevention to other people maybe by writing an article or posting it here in the forum. We can't stop people but we can educate them about it.

We can help spreading awareness in regards to this matters, there's no particular assurance to completely avoiding this scammers but you can
lessen the chances being victimized and help also those who are not familiar yet when you have the chance to share your own experiences.

[Kiefner]

Fortunately, I didn't have to be a victim of scams. But I know that a lot of these cases. And unfortunately, with the growing popularity of bitcoin, the number of scams will also grow. Our task is to spread information about it as much as possible, so that beginners do not fall for scams.

[akeegan]

It makes more sense that if transactions increase so do the possibility of scams. However, as technology gets better overtime as does technology to catch these sorts of scams. Ciphertrace is a great example of a leading cyber security company who can trace wallet transactions on blockchains

[kamudd]

That is because when the price of bitcoin rises so many people are interested in owning it and it is also done for those who have the attitude like crazy who always steal the bitcoin owned by others

[ridha inoue]

that is right, this is like automatic system concept.
when Bitcoin in top that mean so many people here interest again and new people will come with their money to invest in cryptocurrency.
that's is the point for scammers lauch their scam project to new and blind knowlage investor in here.
we must have to becareful because scame projects always out there.

[jvdp]

It is a foolish comparison I believe. When op I want to invest on any altcoins, ICO or anything. He must be knowledgeable on those things then he can go towards it.
Scam was not only the crypto market first of all you need to understand that. If you make yourself secured, your funds will be secured. Nothing more than that you need to do.

[Bunsomjelican]

I remember that scammers won't be in one place if there is no money, they are only after for the money.
In short, if bitcoin rising no wonder why scammers increasing, because is a huge amount of money.

[Sithara007]

I don't necessarily agree with Bunsomjelican with his post above. Scammers doesn't necessarily need to be proficient in cryptocurrencies. Like many of the crypto users, they are also attracted by the news of rising exchange rates. So when the prices increase, there will be a corresponding increase in scam attempts. The cryptocurrency users need to be extra-cautious, when the prices increase. They can no longer afford to ignore the basic safety precautions, such as email confirmation and 2FA.

[Aldrinx00]

This is true scammers are on the move and will do anything just to get some funds from anyone. Yesterday a stranger message me on telegram then told me that he will pay me some btc or ETH in exchange of getting out his funds on a website, when i open the website it is not secured and will surely hacked you when you open the account so let's be careful about those thieves.

[Rooster101]

Being popular, cryptocurrencies like bitcoin have been a target of those who wants to scam people that are believers and users of the virtual currencies. Scams usually on the rise when the prices of bitcoin and other cryptocurrencies are on the rise and many people are excited about it. Scammers are always looking for people that still uninformed and are believe in high return of investment. Social media is abound with scammers and many of them are try to victimized the people by inviting them in their make-believe investment offering. Awareness is always needed when dealing with them to avoid being victimized later.

[Rufsilf]

I don't know about you... But ever since I got involved in Bitcoin

I have become Paranoid 

I don't trust many people and my saying is this: "Everything is a Scam until proven Otherwise"

This is a good practice in ensuring the safety of your investments but being too paranoid may only stress you out. It's okay to be cautious but not too much because it will only eat your brain, just saying. Anyways, the bigger the community adopting bitcoin a big change of increase in scam as well but as holders it is very important that we safeguard our own assets on our own instead of relying on someone else or in a system because nothing is perfect and scammers can still see loopholes.

[dat.ho12492]

I remember that scammers won't be in one place if there is no money, they are only after for the money.
In short, if bitcoin rising no wonder why scammers increasing, because is a huge amount of money.

Indeed, scammers are always concentrated in places where investors gather with large amounts of money, places where they can go through fraud to make a lot of money, and bitcoin is really a paradise for them when the value for each bitcoin is too big, more specifically, this product can always increase dramatically, this has been proven by bitcoin many times, from the past to the present. This truth has become more popular, there is no reason for scammers to ignore this paradise

[Vishnu.Reang]

Just a few hours ago, I met someone who made his first investment in cryptocurrency. I was appalled by his lack of knowledge of crypto. He had purchased BCH worth around $100. I tried to explain him that BTC is the original cryptocurrency that was created by Satoshi, and BCH is just a forked coin. But this guy had been thoroughly brainwashed by someone and he refused to believe me.

[uray]

Even during the price of Bitcoin was down scammers don't rest on doing evil things. As the technology evolves their minds are also updated to trick their prey. Everyone should be very careful and don't trust anyone its better to lose on trading than losing all your money to scammers.

These scams are carried out to people who are new to the new market and trying to multiple their profits and they end up being scammed and this is the usual theme that happens to newbies in the market, the awareness that there is nothing free and the possibility of multiplying your asset in a short period of time are just fake promises to steal your money, majority of the scams are done with fiat currency in the name of bitcoin and hence everything is not traceable.

[xSkylarx]

Just a few hours ago, I met someone who made his first investment in cryptocurrency. I was appalled by his lack of knowledge of crypto. He had purchased BCH worth around $100. I tried to explain him that BTC is the original cryptocurrency that was created by Satoshi, and BCH is just a forked coin. But this guy had been thoroughly brainwashed by someone and he refused to believe me.

It's really disappointing that there are still some people that are brainwashing others who doesn't know anything about crypto for their own good. Maybe that guy promise him that bch would double or even more his capital and he trusts that guy to make him buy bch.

[Hemady17]

Its always been the same right from the start. Expect that when there is a boom or trend, scammers will grab the opportunity to use it. The number of scammers are increasing because bitcoin becomes popular and they know they can fool many people. However, Bitcoin users who were well educated and well aware of it will not change his view about it.

Its rampant yet, its the actual scenario of cryptocurrency industry.

[franciscoDC]

Yes this can happen, because when the price of Bitcoin soars so many people are interested in entering the Cryptocurrency.  And this might be an opportunity for scammers to cheat people.  Entering the world of Bitcoin we must be careful, if not then we will get scam.  so adding Cryptocurrency is very important, before we dive into it.

I think they need to explore what is crypto before they entering on it,because if you let happen to enter them they have a chance  to scam what you have so be smart about what you are doing here,because in crypto the risk are always there.

[Nellayar]

Even during the price of Bitcoin was down scammers don't rest on doing evil things. As the technology evolves their minds are also updated to trick their prey. Everyone should be very careful and don't trust anyone its better to lose on trading than losing all your money to scammers.

These scams are carried out to people who are new to the new market and trying to multiple their profits and they end up being scammed and this is the usual theme that happens to newbies in the market, the awareness that there is nothing free and the possibility of multiplying your asset in a short period of time are just fake promises to steal your money, majority of the scams are done with fiat currency in the name of bitcoin and hence everything is not traceable.

It just new in cryptocurrency but the target of this scammers are those who are ignorant in crypto industry. Because many people are already aware of their movements, we tend to resist from them and try to find out the best investment under cryptocurrency. That is why, nowadays ICO scams are not anymore glooming to the eyes of investors.

[Vishnu.Reang]

Just a few hours ago, I met someone who made his first investment in cryptocurrency. I was appalled by his lack of knowledge of crypto. He had purchased BCH worth around $100. I tried to explain him that BTC is the original cryptocurrency that was created by Satoshi, and BCH is just a forked coin. But this guy had been thoroughly brainwashed by someone and he refused to believe me.

It's really disappointing that there are still some people that are brainwashing others who doesn't know anything about crypto for their own good. Maybe that guy promise him that bch would double or even more his capital and he trusts that guy to make him buy bch.

Well, the brainwashing was not about the future potential. This noob was telling me that BCH is closer to the original cryptocoin that Satoshi Nakamoto invented. He was claiming that BTC has moved away from Satoshi's original ideas. You can't blame these guys. A lot of propaganda is going on in the social media, and the BCH/BSV supporters are very active there.

[phamminhtan]

Yes that's true, bitcoin has a very high price and it is very profitable for us, and scammers know it, and we should be more careful with super-profitable projects. bitcoin brings.

[Ais08]

Yes that's true, bitcoin has a very high price and it is very profitable for us, and scammers know it, and we should be more careful with super-profitable projects. bitcoin brings.

Most of their main targets are new users who have just jumped into the world of Cryptocurrency and their lack of experience in the Crypto world, making fraudsters very free to take advantage of the moment, of course for old users to provide direction for new users, it is not easy to play in the world Crypto and full of risk in it, so it's the only way to prevent them from prioritizing enough experience to invest and sell coins with origin in any place ...

[iMark]

Yes that's true, bitcoin has a very high price and it is very profitable for us, and scammers know it, and we should be more careful with super-profitable projects. bitcoin brings.

Actually there is no special relationship between prices that increase with the increase in the number of scammers, even though prices rise though, I don't think there will be many people who then turn to become bitcoin scammers. The point is that scammer will be everywhere on the internet, the most important thing is that you keep your account properly, remain cautious, and alert to all kinds of threats, and don't trust untrustworthy investments

[Bes19]

Scammers are taking advantage on the rise of bitcoin. We need to be vigilant before we invest on something. Do your own research and make sure that there is a legit source. People likes easy money that is why they are blinded by these different schemes. I wonder how much he will gain if he do trading and not investing on unsure investment.

[samsul1234]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

I am a bounty hunter, how do I say this is the point I don't care about ICO frauds right now, I'm real just a bunty hunter and not an investor I know there will be a big risk there, a few times I am not paid by ICO garbage and migrants new but I do not feel disadvantaged because I did not invest or did not trade in any market, the point is that I was not paid for, but I did not feel harmed by any party

[fulled]

Yes, thats true, when the bitcoin and altcoins rising, media will spread the news, many new people suddenly see bitcoin and altcoins as a way to get rich in a night, scammer see this as a chance to get rich from scamming this people,  they create new scam project targetting this peoples.

[pant-79]

Yes, the more people are interested in cryptocurrencies, the more scam we can observe. Fortunately, I never didn't fall victim to scammers. I always try to comply with all possible security rules when working with cryptocurrencies. So I advise everyone to never, under any circumstances, avoid neglecting security and not be lazy to take additional steps to preserve their cryptocurrencies.

[Mike Mayor]

Why couldnt' this person just be happy with the 1.2m that is a shit load and life changing. All this fool needed to do was convert to fiat and take out a very stable investment with a long term company that gives just under 1% a month. He then could have bought back the bitcoins with the 1% interest monthly. You can live like a king on that interest. This is what happens when you greedy. Now he has nothing. What an idiot.

[poodle63]

Yes that's true, bitcoin has a very high price and it is very profitable for us, and scammers know it, and we should be more careful with super-profitable projects. bitcoin brings.

Actually there is no special relationship between prices that increase with the increase in the number of scammers, even though prices rise though, I don't think there will be many people who then turn to become bitcoin scammers. The point is that scammer will be everywhere on the internet, the most important thing is that you keep your account properly, remain cautious, and alert to all kinds of threats, and don't trust untrustworthy investments

Even though it's invisible but there is, there's always correlation between the price increase and the increase of scams because them or to be said scammers will be more interested to scam when the value is high, it's like a get rich quick scheme. Also, the phishing site numbers I think is increasing at this kind of time.

[Vishnu.Reang]

Why couldnt' this person just be happy with the 1.2m that is a shit load and life changing. All this fool needed to do was convert to fiat and take out a very stable investment with a long term company that gives just under 1% a month. He then could have bought back the bitcoins with the 1% interest monthly. You can live like a king on that interest. This is what happens when you greedy. Now he has nothing. What an idiot.

Greed is a basic human trait and neither me nor you are free from it. Everyone is looking to multiply their capital and that is one of the reasons why we invested in cryptocurrencies in the first place. Sometimes it works and sometimes we lose our capital. I don't agree with your method of converting BTC to fiat and then living off the interest money. First of all, you may need to pay up to 40% in taxes. On top of that you are converting your wealth from an asset which is protected against inflation, to an asset which is not protected.

[terencio]

Bitcoin is rising and also the scam projects are rising but somehow these scam projects  it helps Bitcoin to push it price. I've seen a lot of crowdfunding projects nowadays that they are using cryptocurrency  to lure the people to invest on their project and to confuse them specially to those who have zero knowledge about crypto.

[XCANA]

Yes that's true, bitcoin has a very high price and it is very profitable for us, and scammers know it, and we should be more careful with super-profitable projects. bitcoin brings.

Most of their main targets are new users who have just jumped into the world of Cryptocurrency and their lack of experience in the Crypto world, making fraudsters very free to take advantage of the moment, of course for old users to provide direction for new users, it is not easy to play in the world Crypto and full of risk in it, so it's the only way to prevent them from prioritizing enough experience to invest and sell coins with origin in any place ...

They are mate, newbies are the most unfortunate whenever the market start to grow but, there have been awareness around this forum and whosoever that fall for another scam have self to blame for it. I was onces hit by scammer not on this forum and now have learnt my honorable lesson. We are almost closing into $10k and hoping for another surge to $15k before the end of July.

[Tigerw]

In the cryptocurrency market, a lot of scammers have shared since the days of 2016, when the cryptocurrency began its active start.  I do not think that they left the market when cryptocurrency prices fell.  They all wait for the real moment to express themselves.  Based on this, I don’t really want Bitcoin to show the words of its maximum price, since it will 100% provoke fraudsters to manipulate the cryptocurrency market, which again will lead to a fall in prices.

[pandowoe]

bitcoin fraud, hacking and other crimes in bitcoin seem to keep abreast of developments, and in fact it is like that, crypto criminals are one step more active in finding loopholes of crime and weakness. And the sad consequences as you said bitcoin is labeled crime, whereas bitcoin is only used as a tool of crime. different from money like dollars and others.

[Argoo]

Cryptocurrency fraud is a very serious problem for the spread of cryptocurrency around the world. Many people will not want to learn how to work safely in cryptocurrency and after the first failures they will be disappointed. Cryptocurrency can only exist using a boarding school and knows no boundaries. This creates additional difficulties in identifying fraudsters and their prosecution. It will be very difficult for law enforcement to identify fraudsters in cryptocurrency.

[nankers]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

i think is true. when bitcoin price growth up,  scammers/hackers/pisher or something like that must be growth up to. I remember in 2017 when price bitcoin only $2500-$3000 very few project scams and very little news about hackers and pishing. But at the end of the 2017 when price bitcoin up to $19000++, in that moment scam, pishing and hackers many found. Maybe because the value of bitcoin is very tempting which makes some people will do anything to get bitcoin

[keziakusayang]

at this time I myself have never experienced it but there are some of my friends who have experienced it and I made it as a lesson, of course with the very high bitcoin price like today many people want it to do so in various ways including fraud, so we all must be careful.

[bryant.coleman]

I am someone who lost a lot of my coins during my earlier days, but I don't blame anyone for that. On the other hand, I regret about my own overzealousness and carelessness. Those losses could have been avoided if I was a bit more cautious. You need to think many times before you invest your hard earned money in any of the assets. I didn't did that and as a result incurred losses.

Back in 2013, when I was still new to the world of cryptocurrency, a lot of hype was going on with the crypto-stocks. I invested in them using more than half of my Bitcoin stash and ended up losing almost all of that amount. Now looking back after six long years, the losses still cause a lot of pain and anger. But those coins are lost and can never be brought back. Time to move on and forget about that incident.

[Mehedi72]

Compelectly agreed. Rising of bitcoin is one of the vital reason behind Scams Rising. It helps scammers to scam easily and Thousands of people had lost their worth oring to it. I've loss around £15,000 due it scammers. And it was great reget of my life. Scam is very common issue nowadays. But one shouldn't invest fund that he can't afford to lose

[btc78]

It’s hard to accept but this is what really is happening

Just like a fisherman who can caught lot of fish when there is plenty.same scenarios in cryptocurrency when the prices are pumping then scammers and hackers are become more eager to take some part on the bullrun lol

Let us keep being safe,never open links sends on our inbox or even those links that shared in this forum not unless the account is reliable because phishing sites are very rampant these days

[Schirer]

Thats logical isnt it?

On the same time, I have noticed that community now is much more wise and spots possible scams more quickly.
I personally do not hesitate to call out obvious scams and point out things that can show that it is a scam.

In general i think that there are way less scams that they used to be.

[freedomgo]

Yes, the higher the value of Bitcoin and the value in the market, the more likely it is to accompany scammers to deceive the money of new entrants or to believe it will lead to the loss of Bitcoin that we have. In possession, I have not encountered any such situation.

It's not gonna be the same as before, most of the sale now are done in IEO and the government are already aware of the scams in the past and they are already making measures to protect investors. However, we can't just rely to the government as they have limited power or scope to monitor the entire market, we as investors should equip ourselves with proper knowledge before entering the market.

[imstillthebest]

Yes, the higher the value of Bitcoin and the value in the market, the more likely it is to accompany scammers to deceive the money of new entrants or to believe it will lead to the loss of Bitcoin that we have. In possession, I have not encountered any such situation.

It's not gonna be the same as before, most of the sale now are done in IEO and the government are already aware of the scams in the past and they are already making measures to protect investors. However, we can't just rely to the government as they have limited power or scope to monitor the entire market, we as investors should equip ourselves with proper knowledge before entering the market.

there are less numbers of reported bitcoin scams before when its value is lesser , simply because there were only few users that  recognized btc  and there are still many ico's these days but the ieo's were only limited because scammers find it hard to use ieo since it will require an exchange   . people can just choose the best exchange in order to avoid getting scammed  . laslty , governments cannot track bitcoin and crypto scams because we are anonymous here in this space  .

[TimeTeller]

Yes, the higher the value of Bitcoin and the value in the market, the more likely it is to accompany scammers to deceive the money of new entrants or to believe it will lead to the loss of Bitcoin that we have. In possession, I have not encountered any such situation.

It's not gonna be the same as before, most of the sale now are done in IEO and the government are already aware of the scams in the past and they are already making measures to protect investors. However, we can't just rely to the government as they have limited power or scope to monitor the entire market, we as investors should equip ourselves with proper knowledge before entering the market.

Crypto investors should really be responsible on who and what they are dealing with.
The government or any other entity is not to be blamed when someone failed, because it is your own choice to invest in a particular project.
If you are reckless with your investments, you will end up broke with this business.

[fiulpro]

This is not the drawback of Bitcoins

Bitcoins is not responsible if the people who want to engage in it think about doing such scams , the people who want to make quick money often engage in these scams first , they think Bitcoins= we are millionaires overnight and just give money without even thinking.
They might have their own problems but at the end of the day , they make the market more volatile and these scammers enjoy the profit they make time and again , I think the people needs to be educated about Bitcoins

[jakoylantern]

With the continuing trend of an upward Bitcoin price, we should be expecting more and more incentives for scammers, hackers, phishers and similar people to be trying their best luring people out of their hard-earned money by promising them returns of investment with sky-is-the-limit proportions. And with new people coming in to the world of cryptocurrency, there can be many who can easily fall victims to different schemes leaving participants with empty bags later and some blaming Bitcoin for their predicaments. Newbies and even veterans alike should be careful at all times and always remember that if something is too good to be true then most probably it is...

It is sad that for people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.

Have you been a victim of an elaborate cryptocurrency-related scam that cost you some money? Please share some details here so we can all learn from each other's mistakes...

For me, the problem of the investor is he/she invested in what people? Why he/she could not search for anything for bitcoin? Bitcoin doesn't have anything to do with this issue. There are so many trusted sites you can choose where you will exchange your money or where will you invest at. This is an old issue of bitcoin when some ICOs will create many investors will invest, because of the exciting thing and life-changing offer, but if this ICOs scam their money it will be could make a bitcoin scam.  Yeah is right what you said (people in the media any scam that uses Bitcoin as the medium of exchange or currency is labeled as Bitcoin scam but when a scam is using the fiat money it is not in anyway called as the Dollar scam.) its time to grow-up with this issues there will always be bad people.

[finaleshot2016]

Probably, many scams are already spreading again in the crypto world, there are massive sites of faucets that offer bitcoins for free. People should be aware that scams are very common in online activities, so they shouldn't blame the bitcoin if they're getting scammed. Just make it sure that you consists of knowledge about bitcoin so you can avoid scams.

[Genamant]

its happening as well here in our country Philippines , many opportunist everywhere
sadly Bitcoin has to bear the misconceptions of being a scam investment just because people resisted to be informed.
if people can be open minded about what is Bitcoin truly about. They will know what they have been missing all this time.
Than putting investments on invest wait earn schemes.

[finaleshot2016]

Bitcoin is increasingly loved. Of course, this attracts the attention of bad people to get Bitcoin. Be careful if we want to buy and invest in Bitcoin. Make sure the website you choose to buy Bitcoin is a trusted web exchanger. Because in fact, many smart hackers make scam websites to steal your Bitcoin. Do not let us be disadvantaged because we are less careful in choosing the web to invest.

We should spread a lot of threads that consist of information about legitimate websites to buy bitcoin. People will take advantage of those people who lack the information on bitcoin.
--
But I don't think they'll buy bitcoin today since it's rising now and too late. We don't know if Bitcoin will still go higher than $12k or will stay less than $11k.