Where there is value, there will be theft. With the rise of cryptocurrency value, around $100 billion total market size, the scammers and thieves are very active in finding ways of separating people from their virtual currency.
Here are the latest cryptocurrency scams!
Fake BitPay Phishing
A recent phishing email campaign was underway, impersonating the name of BitPay, a cryptocurrency payment and settlement service. It was sent from an account named bitpay.org, instead of the correct bitpay.com address. The email lured users into clicking a link which led to a download of malware.
BitPay representatives quickly advised customers this was not authentic and likely a scam.
This is not a legitimate BitPay email and is a clear phishing attempt. If you receive this email, do not open its contents and certainly don't click on buttons, links, or attachments.
OneCoin Fraud
OneCoin is believed to be a global Ponzi scheme. Legal actions have been initiated across several countries, assets have been frozen, and some arrests have been made. The latest news is that the government of Vietnam has confirmed OneCoin’s license claims are fraudulent. OneCoin had stated they were approved by the Ministry of Planning and Investment (MPI) for the legal right to be used in Vietnam as a digital currency. However, the MPI has refuted that claim and stated the document was in fact a forgery. I doubt OneCoin will be welcome in Vietnam.
ECoin Plus Ponzi Scheme Folds
Cryptocurrency can seem like magic, but Ecoin Plus heavily marketed a too-good-to-be-true investment plan where participants send them bitcoin and in turn receive unbelievable monthly returns! Invest 10 BTC and double your money within 50 days! Does it seem suspicious? It should. It is just another get-rich-quick scam. The Bitcoin investment scheme called Ecoin Plus has suddenly disappeared and taken all its investors’ money (just like magic). The website is closed and the gullible victims are left with little recourse.
There are sure to be many more cryptocurrency swindles in the coming months. It is a feeding frenzy for scam artist that benefit from gullible people looking to make a quick buck. Don’t be fooled. If the offer seems too good to be true, then it probably is. Always do your research and apply common sense.
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