Sneaky New Scam Robs Crypto Startups Of $300k+ Using Bitcoin

Small crypto startups are being duped for hundreds of thousands of dollars worth of Bitcoin by figures posing as VCs. Victims reportedly include RematicEGC (RMTX), Taboo token (TABOO), and InstantXRP (INSTANT XRP) – all of which recently suffered massive price dumps. Rematic Gets Robbed Mike Pazuki – CEO of RMTX – recently spoke with CryptoAdventure to share details regarding the scam. He recalled being contacted by two individuals through LinkedIn that claimed to be investors. They both expressed initial interest…

Another Scam: Squid Game Token Plunges to Zero After Rugpull

While cryptocurrencies present tremendous opportunities for multiplying one’s wealth, the space is also rife with scams. The latest came in the form of the Squid Game (SQUID) token, which abruptly lost 99.9999% of its value early this morning. Over $2 billion of buyers’ token value was effectively torched, leaving the founders with over $2 million in profit. Rise and Fall of “Squid Game” Token As displayed on CoinMarketCap, the token saw hyperbolic growth shortly after its inception last week. While…

Bitcoin.org Site Compromised, Hackers Falsely Promise Bitcoin Earnings

Earlier today, hackers compromised the popular open-source Bitcoin.org website. The site was inaccessible as of 05:44 UTC Thursday. A message obstructed the homepage screen, persuading the users to send money to a bitcoin wallet. The notice claims it is doing so since the Bitcoin Foundation is “giving back to the community.” The message says only the first 10,000 users can benefit from the offer. The message has a QR code for the wallet and its address too. All other site…

7 Major Crypto Scams Events and What We Can Learn From Them

Crypto scams have been around ever since Bitcoin came out in 2009. Crypto researchers found out that from 2011 to 2020, cyber criminals stole almost $2.5 billion  online. Roughly 80% of these funds, the equivalent to $2 billion, was from digital currencies. The growth rate of cryptocurrencies has increased over time, with most coins, such as Bitcoin, hitting an all-time high of $63,000. While intelligent minds have come up with coins and companies backed by blockchain, scammers have also upped…

Vitae Coin Founders Arrested Over Alleged Crypto Scam

Belgium authorities have arrested Vitae executives suspected of an alleged crypto scam that saw over 220,000 investors lose their money. Seven properties were raided across East and West Flanders and Limburg. In addition, virtue currency totaling more than 1 million in Euros and luxury cars have allegedly been seized by Mendy Z. and Shrage P., the executives. The Rise of Vitae Token Fraud In early 2018 Vitae Token started as Vitae Coin. It was rapidly renamed and promoted by the…