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Top 10 crypto scams around the globe

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Below are some of the major cryptocurrency scams

Taking a look at some of the crypto scams which left the investors helpless

With the ever-increasing adoption of the cryptocurrencies among the people, the risk of frauds and scams that can be carried on is increasing too. The investors, as well as the traders, must be very careful in choosing a cryptocurrency exchange or before investing in any kind of any Initial Coin Offering we must do an extensive research on the project because the hackers are constantly looking out for a chance to exploit our exploit the weakness of the millennials.  Scams in the Mining industry or in the form of multi-level marketing schemes and many other cryptocurrency Ponzi schemes are rising rapidly.

 

Below are some of the major cryptocurrency scams that occurred around the world and we must take lessons from them in order to safeguard ourselves and our interests from the futures scams:

 

  1. Giza

The company offered a service to its customers to store all of their virtual assets in the company’s super secure currency holder. The company conducted a very professional looking initial coin offering and the investors were completely blown by the concept. It manages to raise almost $2.4 million USD within just one month of its offering. Post which the attitude of the company started to change according to the customers. According to the first-hand holders of the account in the company, they suddenly stopped replying to their emails. Even the website was managed within the duration of few weeks. According to another revelation done, the team members which were mentioned in the ICO white paper were nothing but paid actors and their photos were taken from the from a social media website, Instagram which made the project look legitimate.

 

  1. Mining Max

Based on the Ethereum mining operation the company managed to attract Investments worth up to $250 Million USD. According to the customers, for initial few months, they received their share of returns without any loss and hence seemed to be realistic. However later they realized that the company was only into making some quick money and was not following a sustainable business model. The customers along with some of the Korean prosecutors have filed lawsuits against the company individuals. It was estimated that only $70 million USD was spent in contrast to $250 million dollars raised.

 

  1. Benebit

From their seamless presentation and clean outlay, the scam managed to blindfold some of the major investors in investing in their project. The company promised a return of a unique cryptocurrency in Exchange with the customer loyalty. As per some of the media outlets the company managed to raise almost $3 Million USD along with its appealing concept. The main reason that a number of people were fooled by this was that the company spent almost $500,000 on the promotion of the Initial Coin Offering.

 

  1. Bitconnect

Back in the year 2017, the company put forth a number of lending schemes which were very similar to Ponzi schemes before its customers. Many of the investors agreed to support the project and hence invested in them. However, it was very clear that the company had to shut down when it offered ridiculous interest rates which absolutely would not be feasible for a long run. The company finally closed its operation when it received a number of cease and desist orders. It is worth noting that prior to this it was listed as one among the top 20 Crypto tokens.

 

  1. Seele ICO Impersonation

Even though the company was completely legitimate and had conducted all the procedures in a very legal fashion, some of the admins turned out to be scammers later on. The secretly contacted number of potential investors and made their way with almost $2 million worth of Ethereum. According to some news outlet, the scammers portrayed themselves as the owners of the official Telegram channel of the company and asked investors to invest, in exchange of Ether, way before the actual funding had started.

 

  1. Confido

The project provided a service to help integrate smart contracts into the existing framework of various companies and startups who were looking forward to incorporating Blockchain Technology into their business model. The project recently conducted its initial coin offerings in the previous November, managed to raise almost $350,000 USD. Initially, the price was $1.20 per token but as the time passed the investors realize that this was just a plot to run away with a lot of investment. Post which they realized that they had a number of loopholes and bottlenecks in their model.  also, their various social media accounts almost vanished overnight.

 

  1. Mtbtgwallet.com

The wallet providing service stole the private keys of its users to shell out their money. The miscreants stole almost $3.3 million. The owner of the company was a notable person in the Bitcoin gold community. it is also said that he had marketed his service using the discussion forums Reddit and Steem and attracted susceptible individuals.

 

  1. Karbon

Claiming themselves to be a decentralized social Marketplace was nothing but a scam. The ICO raided almost $200,000.

 

  1. Plexcoin

The ICO was launched the previous year managed to crowdfund an impressive amount of $15 million. Later the company had to shut down because of the promises that were unfulfilled on time.

 

  1. Centratech

With it’s Visa and MasterCard debit service the company offered for a seamless fiat to crypto conversion. The ICO raised $32 million and the founders have been arrested since then for the frauds pertaining to the ICO.

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10 Comments

10 Comments

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  10. Greg Smith

    February 6, 2019 at 6:38 am

    I am one of the Victims. At first, the software seemed to be really professional and authentic. I found many favorable reviews about its performance and delivered results. So, I decided to invest in it and try to achieve success in the online trading sphere. Soon, I realized that the software was swallowing all my investments. IQ option is nothing more than a dangerous and fraudulent platform. I invested over $140,000 and couldn’t withdraw my money, months passed and still nothing. So, I reached out to a Certified Binary Options Recovery Expert bitcoinretrievalgenius gmail com to help me recover my funds, I have been able to recover $100,000 and the remaining $40,000 is in progress. I really can’t tell how happy I am.

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#Bitcoin Price Analysis

BTC to USD, 19th May: Bitcoin Price Analysis, $6000 or $9000?

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Bitcoin price started to recover massively after crashing down to around $6600 level. BTC is currently trading in a positive momentum.

Technical Indicators:

Support Levels: $7500, $7000, $6600

Resistance Levels: $8000, $8200, $8300, $8500

Key Points:

  • Bitcoin price started to recover massively after moving above $6800 level.
  • The bulls pushed the price back above $7000 and even $7500 resistance level.
  • Bitcoin price was also able to break above the bearish pattern line which was being formed on the hourly chart with resistance around $7300.
  • Currently, BTC seems to be eyeing towards $8000 resistance level.

 

Bitcoin Price Analysis:

SUMMARY: Bitcoin price started to recover massively after crashing down to around $6600 level. BTC is currently trading in a positive momentum and might soon test $8000 resistance level to move towards $8500 and even $9000 levels if it remains above $7200 and $7000 support levels.

Bitcoin price gained bullish momentum last week and broke above $7000 resistance level. The buyers were also able to push the price above $7200, $7500 and $7800 resistance level. BTC even moved over the $8000 level to record a new yearly high at around 8360. However, bitcoin price started to correct downwards later on and fell below $8000 level. The selling pressure increased massively and BTC also broke below $7000 support level which turned the overall momentum into negative. However, Bitcoin price found decent support around $6650 level where buyers were able to stop further losses.

Bitcoin price soon started to recover back upwards and broke above the resistance formed around $7000. BTC was also able to break through $7200 resistance level as well as the bearish pattern line that was being formed on the hourly chart with resistance around $7300. Bitcoin price also moved above $7500 resistance level and is currently trading well above this range.

With BTC currently trading around $7800, the overall momentum seems positive and Bitcoin price might soon test the $8000 resistance zone above which it might test the $8200, $8300 and $8500 levels. However, if bitcoin price started to correct downwards again, it is very essential for BTC to maintain its position above $7000 to remain bullish. If BTC falls below $7000 and $6600 support level, it might turn towards $6000 and even $5500 level in the short term.

BTC to USD Price Chart 19th May

BTC to USD Price Chart 19th May

The chart shows that bitcoin price was able to recover nicely after falling towards $6650 level. The overall momentum seems bullish and BTC might test $8000 level to move towards $8200, $8300 and $8500 resistance levels. On the downside, BTC is currently supported at $7500, $7000 and $6600 level below which the momentum might turn bearish.

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#Bitcoin Price Analysis

BTC to USD, 15th May: Bitcoin Price Analysis, $8500 or $7000?

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Technical Indicators:

Support Level: $7600, $7500, $7200

Resistance Level: $8100, $8350

 

Key Points:

  • Bitcoin price started to correct downwards sharply after rising up to around $8350.
  • The sellers pushed the price below $8000 and BTC tested the $7600 support level.
  • A bearish pattern is being formed on the hourly chart with resistance around $8100 which might push the price back downwards.
  • Bitcoin price might test the $7600, $7500 and even $7200 support levels before it starts a fresh upside move.

 

Bitcoin Price Analysis:

SUMMARY: Bitcoin price started to correct downwards and fell below $8000. BTC is currently supported at $7600 and $7500 and might soon test the $8100 and $8350 resistance levels again.

 

Bitcoin price broke above the $8000 resistance level yesterday with bullish momentum. The buyers even pushed the price above $8100 and $8300 resistance levels, however, there were a lot of sellers placed around $8350 resistance level and thus after reaching up to $8340, bitcoin price started to correct downwards. During the downward correction, BTC delined below $8200 and $8000 support levels.

 

As the price declined below $8000, the selling pressure increased and the bitcoin price was pushed back to the $7600 support level. BTC reached up to $7631 before the buyers were able to control the situation and stop further losses. Currently, Bitcoin is trading well above $8000 and trying to move towards $8100 level. Also, there is a bearish pattern being formed on the hourly chart with the resistance at $8100 which might push the price back downwards. Thus, it is very essential for bitcoin price to break above this level in the short term to stay bullish.

 

The current resistance lies around $8100 above which BTC might test the $8350 resistance level again. A close above this range would take bitcoin to the $8500 and $8700 levels. However, if BTC falls below the $7600 support level, it might fall back towards $7200 and even $7000 level below which the momentum might turn bearish.

 

BTC to USD Price Chart 15th May

BTC to USD Price Chart 15th May

The chart shows that the bitcoin price is currently trading above $8000 and trying move towards $8100 level. Most likely, bitcoin price might fall down towards the $7600 support level again before starting a fresh upward move. As long as bitcoin remains above $7600 level, it will stay in an uptrend and might soon test $8350 and $8500 resistance levels.

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#Bitcoin

Alert: GotSatoshi Reveals the Real Identity of Satoshi Nakamoto?

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A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.Here is what they revelead.

The identity of Satoshi Nakamoto is one of the biggest secrets in the world, especially in the cryptocurrency industry. A lot of people have speculated the real identity of the bitcoin founder and some people such as Craig Wright has even self-proclaimed themselves to be Satoshi Nakamoto. A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.

 

Where in the world is Satoshi: The Countdown ends

The website ran a countdown and also posted on their official twitter account claiming to know the real identity of the founder of bitcoin.

 

The countdown which ended just a few minutes back (from the time of publication) revealed a video which is actually marketing a news website called PaiNews. It seems that it was just another joke or a method of fooling and attracting traffic to the website.

 

What are your thoughts on such lame jokes or methods of attracting traffic? Tell us in the comments section below.

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