Top-10 cryptocurrency scam list 2019

[yulitzacalvete 1366]

How incredible the creativity of people in the face of cryptocurrencies, they see a very great opportunity although it is a very bad thing to steal from people who are trying to earn their own money so that someone else comes to want to steal it.

[jappy 1129]

What a good post in fact, I was unaware of most of these cases, this is what makes many people trust the platforms completely but however this will improve every day until security improves.

[guatazoo 7150]

On 2/28/2020 at 6:04 PM, Efs said:

10. The scandal with Kraken flash crash

Kraken, a noteworthy Bitcoin exchanging stage, encountered a flash crash that made the cost of the digital money abruptly fall from $8,400 to $75.

Not long after, the cost settled again and many didn’t even notice it. It was essentially thought of like a glitch in the framework. In any case, an investigation from CipherTrace proposes that the accident was brought about by a hack.

As indicated by CipherTrace’s examination, the hacker compromised the account of a client with a lot of digital currency and took 1200 BTC, which was worth more than $10 million at the time.

9. Israeli fraudsters

As indicated by CipherTrace, two siblings from Israel were captured on June 21 for an alleged phishing trick that went on for a long time.

In this time, the Gigi brothers, Eli, 31, and Assaf, 21, are claimed to have taken over $100 million in digital money.

The crypto scammers are claimed to have baited investors from crypto trading forums, for example, Reddit onto sites that mimicked prominent crypto exchanges.

8. XRP worth $10 mln stolen from GitHub

Programmers had the option to snatch around $10 million worth of XRP from GateHub clients in June this year. Gatehub made a preliminary statement on June 6, uncovering that the cybercriminals had the option to steal money from 100 XRP Ledger wallets.

While the organization is as yet researching how it could have occurred, all the wallet holders were reached and more than 500,000 XRP (worth $200,000) has been recovered so far.

7. $18.7 mln Stolen in a South Korean Ponzi Scheme

Specialists from South Korea have applied AI components to reveal a multimillion-dollar Ponzi plot that swindled more than 56,000 financial specialists. The investors were mostly new to crypto exchanges, with the larger part being in their 70s. The unlisted M-token was guaranteed to bring 600%, which is the thing that baited users in.

This case demonstrated the handiness of AI for crypto agents. The calculations were prepared to recognize watchwords identified with unreasonable guarantees and individuals’ motivating force plans, which are run of the mill of staggered showcasing. This innovation has the potential for a more extensive application.

6. $27 mln “typosquatting” trick in Europe

This year, news covers featured the following heading: “Six captured in UK and Netherlands over $27 million “typosquatting” trick. The six people took Bitcoin tokens of about 4,000 people.

The individuals who were associated with a Bitcoin trick worth $27 million were captured in June, as indicated by a Europol official statement. Following a multi month-long joint examination, specialists all the while captured five men and one woman at their homes in southwest England and the Dutch urban communities of Amsterdam and Rotterdam.

The robbery influenced more than 4,000 exploited people, who were spread out in 12 distinct nations.

Europol said the examination revolved around “typosquatting”, a strategy which involves making a fake digital currency exchange to access users’ Bitcoin wallets. The examination was completed as a joint activity by the UK South West Regional Cyber Crime Unit (SW RCCU), the UK’s National Crime Agency (NCA), and the Dutch police.

Pay attention to typosquatting websites!

5. $30 mln stolen in a Canadian ICO Fraud

K.P. Hobbs and L.A. Cheng, a couple from Canada, are confronting a claim from the B.C. Common Forfeiture Office in Canada being accused of raising $30 million through an ICO fraud.

They propelled one of the most notorious cryptocurrency scam coins, FUEL token, and they persuaded investors that it would be utilized for future items and develop in utility and price. The activity finished with the appropriation of investors’ assets for individual use, including luxury expenses, for example, obtaining of a townhouse in Coal Harbor, the acquisition of two Range Rover SUVs, and a multi-million dollar gambling spree.

4. $40 mln Stolen in Binance hack

Our crypto scam list wouldn’t be full without mentioning this notorious case. Binance, one of the world’s biggest digital money exchanges, had BTC worth $40 million stolen in May.

While it is exceptional to see a platform like Binance get hacked, the cybercriminals managed not only to take 7,000 BTC but also revealed two-factor confirmation codes and API tokens. Binance likewise uncovered that the programmers had the option to compromise “exceptionally high net-worth accounts”.

In spite of the programmers pulling off $40 million worth of BTC, the effect wasn’t extraordinary for Binance since it was just 2% of the trade’s general property.

Here are the weak spots hackers search for

In an announcement on their site, Binance expressed: “The programmers had the persistence to pause, and execute well-organized activities through numerous apparently autonomous records at the most ideal time. The exchange is organized in a manner that passed our existing security checks. Tragically we were not ready to obstruct this withdrawal before it was executed.”

3. $51 mln stolen in a Taiwanese Ponzi Scheme

In Taipei, seven men were accused of cheating more than 1,000 investors of $51 mln. Clients endowed their assets to them hoping to get 335% in yearly returns. Soon the returns ceased, and the investors ended up losing money.

This case will no doubt lead to the detainment of these men. Also, it has made the Taiwanese Cabinet acquaint corrections with the Money Laundering Control Act and the Terrorism Financing Prevention Act, so as to control direct crypto activities.

2. $71.6 mln Scammed in an Indian ICO Fraud

The start of 2019 denoted the fourth capture in the Mumbai trick case, which saw the burglary of $71.6 million. Amit Lakhanpal, the proprietor of MTC (Money Trade Coin) is associated with running a fake ICO. Indeed, it had never been recorded on any known exchange, yet this didn’t discourage investors from sharing their money – the promised profits were too alluring.

Amit Lakhanpal is associated with misleadingly inflating the cost of his tokens to pull in investors, which made them lose millions. The bitcoin scammer likewise made investors believe that the royal family of Dubai had supported his project.

Amit Lakhanpal with Salma Al Kitbi

1. $114 mln Scammed in Sofia-Based Illegal Trading Operation

The biggest crypto trading scam 2019 cost investors over $100 mln! The police of a few European countries, particularly, Germany and Austria, have revealed a criminal group operating fake binary options and crypto exchanges in Bulgaria and the Czech Republic. Clients of Optionstars, XTraderFX, Cryptopoint, SafeMarkets, OptionstarsGlobal, and Goldenmarkets were tricked in by alluring rates and inevitably lost $114 million.

These cybercriminals controlled various offshoot organizations, including a contact center and program suppliers. The police struck 21 organizations and 4 homes in Sofia before they found all the elements of the crime. In the result, the supposed mastermind behind the trick was captured, and six-figure entireties, alongside terabytes of information, were sequestrated.

Scammers are actually making a lot of illegal money, because just imagine they eligible to hack $40 million per one hack, so imagine that how much successful hackings they have done. 

[joemcgwa 3227]

On 1/6/2021 at 8:26 PM, guatazoo said:

Scammers are actually making a lot of illegal money, because just imagine they eligible to hack $40 million per one hack, so imagine that how much successful hackings they have done. 

Hackers might be very richest people, but because they are not knowing by anyone that's why we cannot mention them into the richest people list.

[DC71 169]

This is very important information that you share in your post. We must be careful when we invest our money in cryptocurrency world. There is a lot of scam website work. Many people lose their money by investing in these kinds of scam websites

[Munirkion 82]

Wow this research you did was super good and thank you for shearing it with us we really appreciate you see that the good part of cryptotalk you learn and learn to protect your savings from them that is the scammars I mean...

[Nupeboy 627]

Thank you so much for sharing your knowledge with us on the top 10 scam list for 2019 that is a good idea and am sure we all have gained from this your information that you have shared with us 

[Serbberq 724]

Thanks for sharing, crypto have been used around the world. But those that create fake Crypto projects have make some people not to trust cryptocurrency. 

[selfmade 7]

Thanks for this useful information which brings me to an idea, we real could use a section where people could share these scams. This would help all of us, so this is my request to the admins.

[David84 1191]

This is one of the best topics I have ever encountered on this forum, thanks for sharing it . The point about how malware hack into our system is very important because all of us try to download certain apps even when we are not sure about its security and we unintentionally follow some links , that is why we need to be more careful and to check the domains we are using. 

[piuri01 446]

Hello I hope you are well, I had not heard of these scams, but your topics are very interesting and useful, I hope that no other person is scammed, because that is not good, we all work hard to earn our coins.

[emad mhmad 412]

Thousands of victims of Bitcoin investors ... huge cryptocurrency fraud detected

 Fake investment scams have become more professional and frighteningly effective (Anatolia)

 Fake investment scams have become more professional and frighteningly effective (Anatolia)

 3/12/2020

 Thousands of people have been exposed to global fraud, which is based on showing advertisements to invest in Bitcoin, behind which are shell companies in Cyprus, Belarusian and Israeli agencies and contact centers in Ukraine.

 

 Among the victims is a Swedish named Klas Bachmann exposed in 2019 to a fake investment fraud by a call center proposing attractive investments, and the center succeeded in convincing him to invest about 20 thousand euros, thus losing all his savings, and despite submitting a complaint the investigation is still ongoing, but his hope The recoupment is weak.

 Also like hundreds of thousands of people around the world, Buckman fell into this trap because of a simple online ad, in September 2019, and he clicked an ad dedicated to the revolutionary Bitcoin Trader, after entering his personal information on On the platform, he was immediately contacted by a consultant to persuade him to invest $ 250 (equivalent to 210 euros).

[kion 381]

Well, all this are things that the world will definitely experience, as the blockchain technology is improving, so also will the ways of scamming each other be introduced, just as when automobiles were introduced, many means to die has also been increased, so is applicable to the digital world too.

[Serbberq 724]

This is good news for all of us. We can easily understand scam sites and try to avoid them. The newcomers are later caught by the scammers. This news is very useful for newcomers. We all benefited a lot.

[Alix188 585]

There are a lot of scam operations in the world of cryptography and the reason for this is the privacy and decentralization that cryptocurrencies give us. We must be wary of investing in new projects.