How much money you've lost due to SCAMs?

[Kenshin]

14 BTC, I got scam by NineLives (MiningHardware.co.uk) 

[hiverli]

8.8 BTC at Coinex.

it is help for him to buy new Scrypt miner farm from KNC.

[poornamelessme]

Coinex has kept some of my Doge in withdrawal limbo, but otherwise no real loss to scams for me. It wasn't much Doge, but still... annoys me they have it (or lost it).

I am curious what types of scams people have lost money on. Although people seem to complain a ton about shitcoins as 'scams' here, most of the real loss would logically be from bad IPOs, bad exchanges and flat out thieves.

[Nxtblg]

Coinmarket.io: a fraction less than 2 BTC and it turned on the proverbial dime. When it was flickering in and out of 521 Land, I test-withdrew 0.01 BTC and it got through. So, I waited until it was online again and withdrew the rest: about 1.989 BTC. Just my luck, it withdrew back into Area 521 as I clicked the Email confirm link. Since then, I've had a recorded withdrawal with no tx id.

If only I had withdrawn 1 BTC instead of 0.01...

[gielbier]

0 and a bit.

[V8x8d]

Yet to be scammed but lost a reasonable amount of BTC in PC death and the recent price falls haven't helped. I have only invested a portion of what I've made from Gold appreciation since 2007 therefore nothing to cry about (but crypto has been nasty).

The last four months must have created a shed load of Bagholders.

FYI, I prefer Gold as it's the only thing in the World that is actually money (most other things will eventually return to zero).

[Cryddit]

So we started trading 1 BTC - 1 MIL, and the first trade went smoothly. And then right after I agreed to his deal and sent him my precious BTCs, BANG!  His bitcointalk account got banned right away (I believe he did that on purpose although I have no clue how he did it).

Sorry to hear it.  If you didn't contact the site admins, and the account went away anyhow, It's a strong indication that you were not the only victim.  The scammer's got to figure that if she scams people from her account, the admins are going to hear about it and she will lose the account within hours  (or get it marked as a scammer, which would be just as bad for scamming).  Therefore, once she makes her move she only has a few hours of active scamming before she loses the ability to abuse whatever trust people have in the person behind that account.

So, to make the most of a few hours of active scamming, she'd spend weeks and weeks on the setup, with as many targets as she could handle.  Heck, she might even have operated tor sites giving the very best prices for bitcoin (at a slight loss) in order to "earn" the marks' trust.  All of that ... unfortunately for you ... is bait.

But once the active scam starts, she has to move on all the targets and move fast before the account gets marked scammer and the targets notice.   If she  can get all of them to trust her with a few BTC, on the same day, then she walks away with a tidy profit.

Think back...  was there a big looming deadline or brief window of opportunity that the scammer (or one of those onion sites whom you don't actually know wasn't her) told you you were about to miss out on?  I'd almost bet that there was. 

[smooth]

$3000

But I learned from the experience, was that really a loss?

[V8x8d]

If this site was moderated properly we would have fewer scams and more faith in cryptocoins. The positive feedback is lost and therefore you can't trust anyone.

[BayAreaCoins]

I made a bunch off DOGE

I've lost about 20BTC in scams though over my bitcoin career. Mostly from being a dumb fuck.

[OzDigger]

Hi Guys,

Yeap I feel the pain!   its hurting the crypto world badly and is stopping new people from getting getting into it.

Mining is my hobby so I started a website www.miningcryptocurrency.com.au to Help Aussies get into it as we are a bit behind, plus our power costs are high!  anyway I was sick of the online scammers and setup my site to help people do it as safe as possible and also ensure its done as ethical as possible.

These people are the lowest of scum as they are ripping off people who are trusting and trying to make a dollar so to loose $1000 is devastating!

I have also been ripped by Cryptorush as they in my opinion are misleading, they won't reply to emails!  and they are not clear about their website as what they are really saying is if you transfer in BTC or LTc we are keeping it!  the only way to get your money out is to trade it for alt coins but the alt coins are at least 33% to 50% higher to buy, so if you do and then transfer out when you sell you loose out!

Then I also seen they were selling off their hugh gpu mining rigs! I could not believe it that they had a hugh mining farm and running a exchange!  they can pump and dump, delay orders or make sure their coins are sold at higher prices etc, its so wrong.

If only we could unite world wide to have a central point for all facts to be listed clearly as a one stop place, it will make it so easy for us to review scammers etc, the forums are too spread out and watered down.

I even just got banned from the Australia coin forum as I kept asking to know who they are and if they are in Australia as they kept avoiding any questions, they banned me for abuse yet I did not abuse them or swear but they certainly attacked me,I only kept asking who they are, they also locked their forum on here and started another one instead of answering the questions so now they can edit and delete anyone who questions them by the looks, their website www.auscoins.org is also hidden so you can't see who or where its actually owned!  you have to pay extra for that! the weird part is they made the coin red/blue/white and that is not Australia at all.

An update guys.

The Australia coin Dev just emailed me over night with this.

Hi Craig

https://www.facebook.com/craig.mcneill.355?fref=ts

Strange behaviour !  banned me for asking to know who they are as I am Australian, stated I was abusive etc, yet if you read their posts they were abusive and aggressive from what I can see.

Now the email above quote, thats the only PM they sent me and I find in my opinion that this is a form of intimidation!

Just a pity he got it wrong as its not me!  lol  I don't use Facebook!  haha

As I kept saying to them they are digging their own hole and are their own undoing as they won't be upfront and declare who is on the team!  they state on their web page your getting a part of Australia crypto coin!  yet we still can't find out who or where they are!  they also state that the DEV team s Australians yet I think it is only one person doing the posts.

Whats the world coming to ……

[BayAreaCoins]

Don't buy pre-mined country coins! FFS! Not Iceland, brazil or any other shitty country! If their president endorses it... maybe... but till then. Fuck em

[flounderella]

Well lets see:

1 BTC - buying QRK, pretty much worthless now
1 BTC - buying NXT, not worth as much as before
1 BTC - buying EAC, pretty much worthless now
1 BTC - buying WDC, pretty much worthless now
1 BTC - buying MZC, pretty much worthless now

[BayAreaCoins]

Well lets see:

1 BTC - buying QRK, pretty much worthless now
1 BTC - buying NXT, not worth as much as before
1 BTC - buying EAC, pretty much worthless now
1 BTC - buying WDC, pretty much worthless now
1 BTC - buying MZC, pretty much worthless now

Buy shit before other people are buying it and sell a bit when the buyers start coming.  Be a capitalist.

[poornamelessme]

Well lets see:

1 BTC - buying QRK, pretty much worthless now
1 BTC - buying NXT, not worth as much as before
1 BTC - buying EAC, pretty much worthless now
1 BTC - buying WDC, pretty much worthless now
1 BTC - buying MZC, pretty much worthless now

Calling losses like that a scam is something I've wondered about, as many here use the term rather loosely. Why do people tend to call unwise coin purchases a 'scam'? Is it looking for someone to blame? Or do you feel that a fault with the coin that lowers its value somehow denotes it as a scam?

[NWO]

All the scammers reading this thread

[drippx]

Don't buy pre-mined country coins! FFS! Not Iceland, brazil or any other shitty country! If their president endorses it... maybe... but till then. Fuck em

Why not?

I haven't been scammed, I have made alot of btc recently trading country coins and surely some others as well

I guess I'm a smart fuck then

[Nxtblg]

Well lets see:

1 BTC - buying QRK, pretty much worthless now
1 BTC - buying NXT, not worth as much as before
1 BTC - buying EAC, pretty much worthless now
1 BTC - buying WDC, pretty much worthless now
1 BTC - buying MZC, pretty much worthless now

Calling losses like that a scam is something I've wondered about, as many here use the term rather loosely. Why do people tend to call unwise coin purchases a 'scam'? Is it looking for someone to blame?

Most likely. In the stock brokerage trade, complaints like that are called "sour grapes." You see that kind of hurt all the time in the penny-stock forums.

But...as the behavioural-finance experts have shown, buying low and selling high is profoundly "inhuman" and hard to pick up unless you're practically raised from childhood to do it. The people who master the skill (to the extent which anyone can) tend to become really cynical as a result.

That's life in the salt mines. So it's not all that hard to see where a complainer is coming from: buy low and sell high is much harder than it looks.

The best thing to do is to get into a coin with a long-term future, hope for the best, and pitch in if you can. There were Bitcoin "bagholders" riding a 90% loss in the tail end of 2011...when Bitcoin was selling at $2. A rising tide bails out people who bought at the top of an interim bubble and have the faith to hold on.

The funny thing about Bitcoin is that some "Bitcoin millionaires" picked up their BTC on a lark in '09 and '10 and then forgot about Bitcoin completely. Strangely, forgetting about it means there's no temptation to sell early on in the bull wave to snap up a nice profit. If there's a journalist around here, the story of the "accidental millionaires" would make a great human-interest-type man-bites-dog item.   

[poornamelessme]

Most likely. In the stock brokerage trade, complaints like that are called "sour grapes." You see that kind of hurt all the time in the penny-stock forums.

But...as the behavioural-finance experts have shown, buying low and selling high is profoundly "inhuman" and hard to pick up unless you're practically raised from childhood to do it. The people who master the skill (to the extent which anyone can) tend to become really cynical as a result.

That's life in the salt mines. So it's not all that hard to see where a complainer is coming from: buy low and sell high is much harder than it looks.

The best thing to do is to get into a coin with a long-term future, hope for the best, and pitch in if you can. There were Bitcoin "bagholders" riding a 90% loss in the tail end of 2011...when Bitcoin was selling at $2. A rising tide bails out people who bought at the top of an interim bubble and have the faith to hold on.

The funny thing about Bitcoin is that some "Bitcoin millionaires" picked up their BTC on a lark in '09 and '10 and then forgot about Bitcoin completely. Strangely, forgetting about it means there's no temptation to sell early on in the bull wave to snap up a nice profit. If there's a journalist around here, the story of the "accidental millionaires" would make a great human-interest-type man-bites-dog item.   

That would certainly explain the overuse of the word scam in this forum. I'm not saying there aren't a ton of real scams, but I see it being used to describe pretty regular coins way too often. I guess it is easier to say a coin is a scam, than a person simply made a bad investment.

I did read about one fellow who was one of those bitcoin millionaires in some article ... I think he paid $25 for btc while he was researching cryptocurrency for a paper. Then forgot about it, and years later found out it was worth like a million or so. It was mentioned a lot, so I expect many here saw it too.

If I had invested in btc, I think the only way I would be a millionaire now if I was one of those people... bought some really cheap and forgot about it. It's so tempting to sell off once a decent profit is made. Instead I vaguely heard about btc around 2010-11ish (I think), didn't know much about it, except for the fact my PC at the time was insanely underpowered, so I had no chance to mine any. Then I forgot about it. I guess the lesson learned for me is, you can't win the lottery if you don't even enter it.

[Nxtblg]

Most likely. In the stock brokerage trade, complaints like that are called "sour grapes." You see that kind of hurt all the time in the penny-stock forums.

But...as the behavioural-finance experts have shown, buying low and selling high is profoundly "inhuman" and hard to pick up unless you're practically raised from childhood to do it. The people who master the skill (to the extent which anyone can) tend to become really cynical as a result.

That's life in the salt mines. So it's not all that hard to see where a complainer is coming from: buy low and sell high is much harder than it looks.

The best thing to do is to get into a coin with a long-term future, hope for the best, and pitch in if you can. There were Bitcoin "bagholders" riding a 90% loss in the tail end of 2011...when Bitcoin was selling at $2. A rising tide bails out people who bought at the top of an interim bubble and have the faith to hold on.

The funny thing about Bitcoin is that some "Bitcoin millionaires" picked up their BTC on a lark in '09 and '10 and then forgot about Bitcoin completely. Strangely, forgetting about it means there's no temptation to sell early on in the bull wave to snap up a nice profit. If there's a journalist around here, the story of the "accidental millionaires" would make a great human-interest-type man-bites-dog item.   

That would certainly explain the overuse of the word scam in this forum. I'm not saying there aren't a ton of real scams, but I see it being used to describe pretty regular coins way too often. I guess it is easier to say a coin is a scam, than a person simply made a bad investment.

I did read about one fellow who was one of those bitcoin millionaires in some article ... I think he paid $25 for btc while he was researching cryptocurrency for a paper. Then forgot about it, and years later found out it was worth like a million or so. It was mentioned a lot, so I expect many here saw it too.

If I had invested in btc, I think the only way I would be a millionaire now if I was one of those people... bought some really cheap and forgot about it. It's so tempting to sell off once a decent profit is made. Instead I vaguely heard about btc around 2010-11ish (I think), didn't know much about it, except for the fact my PC at the time was insanely underpowered, so I had no chance to mine any. Then I forgot about it. I guess the lesson learned for me is, you can't win the lottery if you don't even enter it.

Well said. I heard about BTC in mid-2011 and got interested, but I got scared off by those keylogger malware tales. Every security issue but that was surmountable, but the keylogger one seemed insurmountable. So I chickened out.