Effective Ways to Identify Initial Coin Offering (ICO) Scams

Over the last few years, the cryptocurrency market has been tremendously growing, especially since the 2017 bitcoin bubble. Today, there are over 6000 cryptocurrencies, and investors are even using digital monies as capital for startups.  The phenomenon, Initial Coin Offering (ICO), whose popularity has been growing fast, involves raising capital for new blockchain projects by selling underlying crypto tokens. The process is similar to Initial Public Offerings (IPO), although ICO is unregulated. Its freedom from regulation makes it a perfect option…

How to avoid buying into an ICO or Token Sale that is destined to fail

An Initial Coin Offering (ICO) is an easy way of investing in a blockchain-based project still developing. With good research, intuition, and a bit of luck, you may be buying into a future cryptocurrency with global recognition. The next ICO could be the one that brings you a substantial ROI. However, it could also be one of the many ones that fail or turn out to be a hoax. Despite their continuous loss of credibility, ICOs remain widely popular. Today,…

Cryptocurrency Scammers Leveraging Olympic Games

The emergence of COVID-19 pandemic has disrupted the activities planned for this year, such that there have been postponements worldwide including the Olympic Games which was suppose to hold in Tokyo. The postponement of the Olympic Games has prompted various online scams related to cryptocurrency. This includes emails from alleged members of the International Olympic Committee in which scammers solicit donations from unwary victims. According to a report by Trend Micro on April 30, scammers are soliciting for cryptocurrency donations towards Japanese organizers’…

Coronavirus-Related Scams on the Rise and the U.K. is Still Raising Awareness

Scammers continue to leverage the current pandemic to perpetrate their malicious activities. It is such that the national internet authority shut down more than 2,000 online scams associated with COVID-19 last month. A deeply shocking 471 fake e-commerce stores selling fake Coronavirus materials were shut down. They have also taken down numerous phishing scams and advance-fee frauds. Due to the rising scams, the United Kingdom’s National Cyber Security Centre (NCSC) is still raising awareness and warning citizens regarding the risks. According to the U.K. Minister for Security,…

Crypto Hackers Rake In $4 Billion in 2019 – How to Avoid Crypto Scams in 2020

Every new technological advance has two sides to its success story. One tells the tale of economic and social benefits that derive from it. The other one bears the ugly face of scamming, theft, and hoaxing. One clear example of this unofficial axiom is the surge in cryptocurrency scams that occurred throughout 2019. According to a CypherTrace report, hackers managed to steal more than $4.4 billion from cryptocurrency owners and entities last year. It is a staggering increase from the…