Aug 15, · Fake Bitcoin Exchanges - BitKRX Surely one of the easiest ways to scam investors is to pose as an affiliate branch of a respectable and legitimate organization. Well, Author: Anne Sraders. Aug 04, · Bitcoin Trader is an automatic trading software created by Gary Roberts in that claims to automatically buy bitcoin and sell it for a profit by 4/5. Oct 03, · Bitcoin Trader Fake News Above is an example of a fake advertisement illegally using the name of reputation of Sir Richard Branson. A closer look reveal links which direct viewers to the Bitcoin Trader scam.
Fake bitcoin traderBitcoin Trader Review - Read What 52 People Say
However, given the unregulated nature of bitcoin itself, the door has been wide open for fraud. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies. The company was sued for misleading investors and lying about products, among other fraudulent activities.
The U. The website allegedly used links on a legitimate website Bitcoin Gold to get investors to share their private keys or seeds with the scam, as this old screenshot from the website shows. Bitcoin Gold, the site's wallet used in the scam, began investigating shortly after, but the site remains controversial.
Still, firm released a warning to bitcoin investors. Following this basic rule of private key management greatly reduces your risk of theft. While this type of scam is certainly not relegated to just bitcoin thank you for the education, "The Wolf of Wall Street" , a pump-and-dump scam is especially dangerous in the internet space.
The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot. Bittrex, a popular bitcoin exchange site, released a set of guidelines to avoid bitcoin pump-and-dump scams.
While "stackin' penny stocks" may sound like an appealing way to earn an extra buck thanks to its glamorization by Jordan Belfort , messing in bitcoin scams is nothing to smirk at.
With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands. As more people become interested in Bitcoin, more people are also likely to try and pull off a scam.
There is no one formula to avoiding being scammed , but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped. Cryptocurrency can be a confusing topic even for the experienced Bitcoin enthusiast, so the more you read up on the world of Bitcoin, the more prepared you can be.
After all, knowledge is power. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. I agree to TheMaven's Terms and Policy. What Is a Bitcoin Scam? Top 7 Bitcoin Scams There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. Malware Scams Malware has long been the hallmark of many online scams. Fake Bitcoin Exchanges - BitKRX Surely one of the easiest ways to scam investors is to pose as an affiliate branch of a respectable and legitimate organization.
Ponzi Scheme - MiningMax "Ponzi bitcoin scam" has got to be the worst combination of words imaginable for financial gurus. They claim the algorithm is 0. To be fair I did sign up to see what would happen and it was this; I got sent directly to the cashier page on OptionStars where I was prompted to make a deposit.
OptionStars is a white label built on what I think is an older version of the Tradologic platform. Regardless, the platform sucks. They do have digital cryptocurrency pairs available in the drop-down asset list. The trading is classic binary with expiry as short as 60 seconds and as long as the end of the day. It is. The better question though is if OptionStars is a scam and the answer to that is also a resounding yes!
Keep in mind that depending on your region, you might be directed to a different broker but I doubt it will be any better. And one more thing: the web address of the Bitcoin Trader System has already changed a few times, so it is likely to change in the future probably to avoid getting caught. These are not the droids you are looking for, move along, move along. Looking at the long list of complaints at the bottom of this page, we can completely reassure this is a scam, and we were right from the beginning!
Just take a look at what our users have to say about it:. Too many promises, too aggressive and a definite scam! This guy sums it up perfectly. Unfortunately, some people still fall for empty promises and lies spread by these robot makers. Phil from Auckland has done the smart and common-sense thing: he actually researched and read some reviews BEFORE reaching for the wallet and giving money away.
And speaking of reviews: please be careful what you read or more importantly what you trust because a tool among many others to get more clients for their scam is to pay for positive reviews. I lost my job due to Covid19, and decided to invest the little savings I had into cryptocurrency. Unfortunately for me, I invested with a fraudulent company. I watched as my initial investment grew within the first few weeks, and I was really happy.
But when I tried to withdraw money from my account, my withdrawal request was not approved. This was when I suspected something was wrong. I tried contacting their customer support but they were unresponsive. I was sad and helpless, so I decided to check online. I was lucky to find orbitresolve. Please be aware we are not related to this website and it is scam to take your money. With fake reviews. My review is real, and so is the money this company ripped off me.
I lost an incredible amount of money to this company, It all started from me filling the guest form a phone call, Like other reviewers, I was swamped with phone calls and emails encouraging me to trade and they are good talker and after some persuasion I decided to invest, after months of constant investment I decided to ask for a payout this was the beginning of my turmoil, to my dismay I was still asked to invest more.
Being a Single father this really affected me and despite all efforts to contact them failed. I was introduced to financialreliance. Bitcoin Trader sell personal info to other trading platform. Got an call from Trading Option after I rejected the former. The management to manage and monitor their agents closely and prevent this from happening.
I was told by Trading Option that I just registers 2 minutes ago when I was already in bed with my daughter for the past 30 mins. Having registered to have a look at the fuss about itx I have continued to be harassed from the first minute of registering. I have complained about the multiple day calls by different people and they do not listen. Harassment and I'm going to report them to the FCA. This is absolute madness. The Bitcoin company in the first place is a blatant scam, and then there are loads of reviews on here recommending more scam companies to get peoples money back!
Fortunately I'm not stupid enough to have lost any money to any of these people, but it comes to something when whole website are being set up to scam people who are already victims of a different scam saying they can get your money back!
Absolute madness! I gave them my number trough the website and every single day, many times a day i get called up by some hindu guy calling himself my saviour. Every time i tell him i do not want to speak and hang up. As soon as I get a call I hang up and block the number only to get another 1 mins later from a different number they call very late at night early in the morning even on a sun.