Bitcoin Rising, Scams Rising

[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