Over 1,000 Cryptocurrencies are “Dead Projects”

While not all cryptocurrencies and tokens are built to last, the math shows token projects and forked digital currencies abandoned, shut down, and scammed are far greater than one may think. “Dead Coins” As per data collated by Coinopsy and Dead Coins, two digital currency tracking websites, an estimated 1,000 cryptocurrencies projects are lacking any […]

Continue Reading

$3 Billion: FTC Warns Consumers Could Pay High Price for Crypto Scams

Consumers lost $532 million to cryptocurrency-related scams in the first two months of 2018, an official for the Federal Trade Commission said Monday. Speaking during an event focused on cryptocurrency scams and fraud, Andrew Smith, director of the trade watchdog’s Bureau of Consumer Protection, offered the figure and said that the figure could swell into […]

Continue Reading

Tea Tokenizers Arrested in China for Alleged $47 Million Crypto Fraud

Another cryptocurrency project has been busted by law enforcement in China for allegedly soliciting money from investors with fraudulent claims. According to Guangdong Daily, a provincial government organ in China, police in Shenzhen arrested six individuals Monday who allegedly defrauded 3,000 Chinese investors out of $47 million by selling a cryptocurrency they claimed was backed by a […]

Continue Reading

How to Defend Yourself Against Pump-and-Dump Crypto Scams

Tanzeel Akhtar is an independent British journalist whose work has been published in the Wall Street Journal, CNBC, FT Alphaville, Investing.com, Forbes, Euromoney and Citywire. “Pump and dump” schemes have been around since long before cryptocurrency was invented. What’s striking about the crypto markets is that this type of manipulation is done out in the […]

Continue Reading

Twitter Pledges Action on Crypto Scams After Account Shadow Bans

Social media giant Twitter appears to be cracking down on cryptocurrency scam accounts – but several members of the crypto Twitter community have been caught in the fray. Responding to a tweet by Cornell professor Emin Gün Sirer, Twitter CEO Jack Dorsey wrote that “we are on it.” Yet the statement drew some swift critiques […]

Continue Reading

Australian Watchdog Received 1,200 Crypto Scam Complaints in 2017

Australia’s consumer watchdog has reportedly received over 1,200 complaints about cryptocurrency scams in 2017. According to the ABC’s current affairs program 7.30, data obtained from the Australian Competition & Consumer Commission’s (ACCC) Scamwatch program indicated it received 1,289 complaints related to crypto fraud in 2017. Losses totalling $1,218,206 were also reported. Speaking to the show, Australian […]

Continue Reading