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07 Sep

AT&T Being Sued for $224 Million After Attackers Steal Crypto from Investor’s Phone

By Daniel Zo AT&T, Scam, Cryptocurrency Read Comments

According to recent reports, AT&T might be responsible for the loss of $24 million in cryptocurrency, after the cell phone of a digital currency investor was hacked. With this in mind, Michael Turpin is suing the telecom firm for $224 million, after the company reportedly failed to protect his smartphone data.

As part of his lawsuit, the investor claims that AT&T employees are complicit in a SIM swap scam, where hackers attempt to gain access to phone data via social engineering. In other words, for this scam to work, criminals are known to pose as the owner of a victims’ phone number, hence convincing the customer support teams of telecom providers to grant access to the phone in question. By doing this, attackers get access to a variety of accounts, including digital currency wallets.


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03 May

Learning How to Avoid Bitcoin Scams

By Daniel Zo Bitcoin, Scam, Malware, Phishing, Pyramid scheme Read Comments

Every new trend that appears on the internet is bound to give scammers numerous opportunities to come up with various ideas meant to take people’s money away. Bitcoin is no exception to this case, as there are thousands of bitcoin-based scams that unknowing users can get involved in.

With this in mind, in this article, we will discuss the main types of scams and factors that you should keep in mind to avoid a bitcoin scam, whenever you see one. Considering the fact that few people truly understand the way bitcoin and the blockchain works, educating yourself should be the first step.


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10 Jan

Colombia moves to ban Bitcoin to help stop Ponzi Schemes

By Daniel Zo Bitcoin, Colombia, Ponzi, Scam, Ban Read Comments

While Bitcoin has seen a massive growth in popularity in areas from all around the world, it seems like some Governments are still strongly against mass adoption and use of the digital currency. One such example is Columbia, which, according to recent reports, has just declared Bitcoin illegal, thus joining another handful of nations that have taken the same step.

The announcement was made at the beginning of 2017, by the main regulatory agency operating in Columbia, known by the name of Superintendency of Corporations. It seems like the action may have been taken to stop the growth of Ponzi-based investment clubs that operate via digital currencies. In fact, the operators of these investment clubs encourage people throughout the country to invest in bitcoin, and promise huge returns, yet this is not always the case, especially when investing in a Ponzi scheme- in fact, some of these schemes have gotten to the point of being hilarious, considering the fact that some promise a 100% return on the initial investment.


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09 Jun

Poll Reveals that UK Companies are Making Bitcoin Deposits to Protect Themselves from Ransomware Attacks

By Daniel Zo Bitcoin, Scam, Ransomware, UK Read Comments

Unfortunately, during the last couple of months, cyber-attacks and ransom attempts have become significantly more common, given the raising popularity of bitcoin as a ransomware payment method.

In fact, a study carried out among a number of UK companies has revealed that many of them have begun building a bitcoin reserve meant to pay off cyber-criminals in case their businesses are attacked. To put things better into perspective, according to the numbers that were crushed into place by the Citrix and Censuswide companies, which managed to question a total of 250 UK IT companies and their respective security managers, it seems like 1 in 3 UK IT companies has a bitcoin reserve meant to be used for this purpose.


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26 Apr

Armada Collective Exposed to Issue Empty DDoS Threats, While Collecting Extortion Money

By Daniel Zo Armada Collective, Scam, DDoS, Extortion, Bitcoin Read Comments

During the last couple of months, ransomware attacks have increased significantly, thus forcing online businesses from all around the world to pay out hundreds of thousands of dollars-worth of bitcoin to scammers.

However, a group known by the name of Armada Collective has decided to take advantage of the fear caused by the increasing number of DDoS attacks, and make some money for themselves. To learn more about the cybercriminals, CloudFlare has decided to take matters into their own hands, and investigate.


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04 Nov

Two major ransomware operations stopped by Dutch authorities

By Daniel Zo Bitcoin, Scams, Ransomware Read Comments

It’s widely known that the Bitcoin technology is quite dangerous when used by criminals, as it offers them a way of offering and accepting payments, while making it difficult to be tracked by the police.

Well, according to the latest reports, it seems like two popular ransomware strains known by the names of CoinVault and BitCryptor have been eliminated thanks to a joint effort carried out by law enforcement in the Netherlands alongside with an independent firm that deals with cybersecurity.


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12 Mar

How the Absence of Bitcoin Regulation is Promoting the Principle of Reputation Assessment on the Market

By Daniel Zo Bitcoin, Reputation, Scams, EBA Read Comments

An important issue which is present on the Bitcoin market at this moment is the lack of regulation which in turn promotes reputation assessment. In order to get a better grip on this concept, it is worth pointing out that because there are no laws surrounding the cryptocurrency, many people from all around have decided to use it as a way to scam people and promote illegal activities.


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09 Sep

Risky Bitcoin Dealings and How to Avoid Them

By Jumpy Bitcoin, Escrow, Scams Read Comments

Bitcoin is an amazing tool both for executing new types of commerce that were, various reasons, impossible before or completing the existing types of transactions in a superior fashion. Bitcoin affords flexibility, security, and anonymity and is powerful in the hands of users with the proper understanding of how it works and how to use it.
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16 Jul

A guide to identifying and avoiding Bitcoin scams

By Zachary Gruskin Bitcoin, Scams, Escrow, Paper wallet, Security Read Comments

Criminal activity has become a pandemic in the Bitcoin world. Ever since Bitcoin's explosive price rise criminals have been targeting Bitcoin users. Dozens of new Bitcoin related scams are reported each day, and often the criminals are never caught since it's possible to stay anonymous on the internet with the right expertise. There are a multitude of different Bitcoin scams, and it is important to understand them to keep your money safe. This article will discuss how to identify and avoid Bitcoin scams.

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