#bitconnect refund

[thepause]

SEC Sues 5 Over Bitconnect Ponzi Case | First Mover - CoinDesk TV

SEC Sues 5 Over Bitconnect Ponzi Case | First Mover – CoinDesk TV

The SEC has filed a complaint against five Bitconnect promoters over $2 billion in unregistered assets. Lisa Braganca, attorney and former SEC branch chief, joins "First Mover" and explains the 2018 downfall of Bitconnect and whether the defendants' actions constitute a Ponzi scheme. #cryptocurrency #digitalfinance #finance #bitcoin #crypto Subscribe to CoinDesk on…

[bowsetter]

The Daily: Belarus Adopts New Regulations, Galaxy Digital Releases Q3 Results

In this edition of The Daily, we look at the latest regulatory development in Europe – Belarus High Technologies Park has adopted new regulations for cryptocurrency companies. We also cover Galaxy Digital’s report into its third quarter financial results and an alert issued in Texas about a new scam promising refunds to Bitconnect investors.  

Also read: Kucoin Enables Credit Card Payments, Coinbase Pro Adds Zcash

Belarus Expands Crypto Regulatory Framework

Belarus, which legalized business activities related to digital assets earlier this year, has now expanded its crypto-friendly regulatory framework. The High Technologies Park (HTP) in Minsk, where companies from the industry are welcome to register and operate, has announced new regulations aimed at creating even more favorable conditions for cryptocurrency startups.

The former Soviet republic became one of the first jurisdictions in Europe to adopt legislation designed to attract crypto and blockchain companies when President Lukashenko’s decree “On the Development of the Digital Economy” came into force in March. According to a press release, now the HTP is introducing additional tax exemptions, advanced anti-money laundering rules, strict data and consumer protection requirements and improved business standards.

The new regulations have been approved by the supervisory council of the business park and published on its website on Nov. 30. They introduce comprehensive requirements for companies applying for HTP residence, operators of cryptocurrency platforms, including digital asset exchanges, projects conducting initial coin offerings (ICOs) and internal control rules that registered entities should implement.

Galaxy Digital Announces Q3 Financial Results

Galaxy Digital Holdings has released the third quarter financial results of both GDH LP, a merchant bank operating with digital assets, and GDH Ltd., a company that holds a minority interest in the crypto bank. GDH LP, also known simply as Galaxy Digital, was established by famed investor Michael Novogratz. It offers an array of services to companies in the cryptocurrency and blockchain industry.

According to the report, as of Sept. 30, GDH LP’s digital assets and investments totaled $323 million. A press release details that the $9.5 million increase came as a result of additional purchases and capital deployed during the quarter. Galaxy Digital has also registered $38.1 million of net realized losses on digital assets and $4.2 million of net unrealized losses on investments.

As part of the corporate highlights published in the Q3 report, Galaxy Digital confirmed previously announced plans to reposition its advisory services business away from small ICO advisory and technical blockchain consulting. Instead, the bank wants to focus on institutional clients in the crypto space. The company has already closed its Vancouver office and intends to expand its team in New York.

Texas Securities Regulator Warns About Bitconnect Refund Scam

The Texas State Securities Board (TSSB) has issued an investor alert about a new crypto scam related to Bitconnect. According to its announcement, a fraudulent notice tells people they can receive partial refunds of their investments in the crypto project by completing a form and submitting a $250 fee. The “Bitconnect update” notice claims to be from the regulator and promises to recover 35 percent of the funds they’ve invested.

Texas Securities Commissioner Travis Iles explained that the false webpage, set up by an unknown entity, looks like the TSSB’s website. He added that it is an attempt to further defraud Bitconnect investors and described it as an “advance fee” scam.

Iles issued a cease and desist order against Bitconnect in January of this year. TSSB now says the order has become final. It remains in full force and effect, the regulator explained, because Bitconnect, which is an overseas cryptocurrency company, has failed to request a hearing to modify or vacate it. TSSB also notes that “the order does not provide for the payment of restitution to Bitconnect investors.”

What are your thoughts on today’s news tidbits? Tell us in the comments section.

Images courtesy of Shutterstock, HTP.

Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Belarus Adopts New Regulations, Galaxy Digital Releases Q3 Results appeared first on Bitcoin News.

READ MORE http://bit.ly/2U4OtAQ

[joshuajacksonlyblog]

Bitconnect Shuts Down Amid Crypto Crash

Following months of bad press and publicity, lending and exchange platform Bitconnect has announced that it is shutting down. Many had suspected the platform of being a Ponzi scheme, and it had suffered multiple DDoS attacks on the website.

In an announcement on its website, the platform said it was closing the lending operation immediately with the release of all outstanding loans. The notice cited continuous bad press, including two Cease and Desist letters from the securities boards of Texas and North Carolina.

Coin Collapse

Bitconnect has stated that it will refund all active loans at a rate which it calculated from the past 15 day average price.

With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com.

Within moments of the notice, the BCC token price plummeted from around $180 to $24 amid a general market decline across all cryptocurrencies.

According to TechCrunch, many users will still have suffered severe losses on their fiat, or Bitcoin equivalents, if they had invested in BCC, which is effectively useless now since the platform has shut down.

Condemnation

A number of prominent crypto experts have also labelled Bitconnect as a Ponzi scheme, including Ethereum co-founder Vitalik Buterin and Litecoin’s Charlie Lee who tweeted:

Turns out it was a ponzi after all. Sorry for those that got caught up in this. Ponzis work because people are easily fooled.

Bitconnect was an anonymously run operation that allowed users to loan their cryptocurrencies to the company for large returns of up to 40% per month. A large referral system generated a pyramid scheme on social media, with users plying their referral links for extra commissions.

The loans were in USD but had to be made in BCC, which could be purchased with Bitcoin. As its popularity grew, the token gained value and climbed from $10 in mid-2017 to a high of $435 at its peak at the end of the year.

Bitconnect has stated that they will continue supporting the coin:

Closing the lending and exchange platform doesn’t mean that we will stop supporting BitConnect coin. Closing the lending platform will allow Bitconnect to be listed on outside exchanges giving more options for trading. This is not the end of this community, but we are closing some of the services on the website platform and we will continue offering other cyptocurrency services in the future.

Although with the token’s value approaching the floor, renewed confidence and investment in BCC remains a very forlorn hope.

Did you use Bitconnect and has this affected you? Share your thoughts in the comments below.

Images courtesy of Pxhere and Bitcoinist archives.

The post Bitconnect Shuts Down Amid Crypto Crash appeared first on Bitcoinist.com.

from Cryptocracken Tumblr http://ift.tt/2DJjjHu via IFTTT

[coin-river-blog]

New York resident Patrick McDonnell AKA “Jason Flack” was arrested and charged with nine counts of wire fraud in a Brooklyn court on Tuesday. McDonnell allegedly convinced others to “invest” in cryptocurrency through Facebook and Twitter, stealing the money for his own use and providing false balance statements in return.

Scammer Ran Facebook & Twitter Crypto Scam from Staten Island Home

McDonnel was fined $1 million last year and represented himself in court, claiming to be unable to afford a lawyer despite the court strongly urging him to seek counsel.

He was fined and banned from trading after claiming in June that his company site had been hacked and investor funds lost. It emerged that the company, portrayed as a relatively large operation, consisted solely of the defendant and was run from his Staten Island home.

Patrick K McDonnell – used his company CabbageTech and Coindropmarkets to trick people into giving him money to trade for him, but Pat stole the money, closed down the websites, and pretended he got hacked.

— Uncle Yak (@Yakherders) January 22, 2018

United States Attorney Richard Donoghue stated a case against the defendant in no uncertain terms.

“As alleged, the defendant defrauded investors by making false promises and sending them fraudulent balance statements, hiding the fact that he was stealing their money for his personal use. The defendant’s fraud ends now, he will be held responsible for his criminal conduct.”

Bizarre ‘CabbageTech’ Scam Raked in $250,000 from Victims

So it wasn’t as lucrative as the infamous Bitconnect scam, but CabbageTech is still pretty bizarre. | Source: YouTube

The dubiously-named CabbageTech company was the entity the defendant solicited his investments with. USPIS Special Agent-In-Charge Bartlett briefly described the process in taking the suspect down.

“The defendant, Patrick K. McDonnell, used smoke and mirrors to allegedly dupe investors into paying his company—CabbageTech, for advice and strategies on crypto-currency trading. However, Postal Inspectors and their federal law enforcement partners unmasked McDonnell and his scheme to defraud investors, and brought him to justice for his alleged criminal actions.”

McDonnell fraudulently described himself as an experienced crypto trader, promising expert advice and offering to purchase and trade cryptocurrency on behalf of his clients. The service was modeled after that of a stockbroker – McDonnell would take a fee in exchange for taking client capital and generating profits for them.

However, he reportedly took not only his fee but the full capital sum. Starting in May 2016 through CabbageTech Corp AKA Coin Drop Markets, he simply stole the money sent to him without ever investing it for clients. He sent fake balance statements showing that the clients had earned profits to keep them from requesting their money back too soon. Whenever someone asked for a refund, he would delay for a while and then stop responding.

The Surprising Impact CabbageTech Had on Bitcoin Regulation

McDonnell stole a sizeable sum of money over the years. From ten separate victims, he took $194,000 in USD as well as 4.41 bitcoins, 206 litecoins, 620 ethereum classic tokens, and 1,342,634 verge tokens, all of which amounts to over $250,000 even in today’s bear market. If convicted, McDonnell could face up to 20 years in prison.

Notably, the scheme was instrumental in the CFTC’s successful push to classify bitcoin as a commodity. Last August, U.S. District Judge Jack Weinstein ruled that CabbageTech and McDonnell flouted the Commodity Exchange Act by engaging in “egregious intentional violations” of federal regulations and law.

I'm still laughing that CabbageTech is what lead to a definition of cryptocurrencies as commodities.

Life is truly poetic if you know where to look.

— Bryce Weiner (@BryceWeiner) March 8, 2018

[stubfeedcrypto-blog]

Bitconnect Refunding Scam Surfaces, Texas ... Publication from cryptovest.com #crypto #cryptocurrency #stubfeed #stubfeedcrypto - stubfeed.com/crypto https://ift.tt/2KUs0Ch

[86xsite]

Texas State Securities Board (TSSB) has sounded the alarm over the partial revival of Bitconnect, the now-defunct famous cryptocurrency Ponzi scheme. The fraudsters are claiming that TSSB has begun a refunding initiative for the scam victims, the regulator said on Friday.

The fake notice claims that Bitconnect investors who pay a $250 fee will get around 35% of their money back. The so-called “Bitconnect update” has been published on a website that mimics the official internet page of TSSB. For questions, victims should use the encrypted messaging platform of Telegram, the notice explains. In reality, the Texas regulator gives official consultations via phone, fax, online form, or by post with the publicly announced contact details on its …

This article appeared first on Cryptovest

[tradecryptocoin-blog]

Bitconnect Refunding Scam Surfaces, Texas Securities Regulator Warns

Bitconnect Refunding Scam Surfaces, Texas Securities Regulator Warns

Fraudsters are using a false TSSB notice to deceive Bitconnect victims by collecting a $250 fee for fake compensation initiatives.

Source: Cryptovest Bitconnect Refunding Scam Surfaces, Texas Securities Regulator Warns

[coreymiler]

Texas Watchdog Warns Against BitConnect Recovery Scam

The fake notice claims the agency promises to refund 35% of the victims’ investment in BitConnect. Texas Watchdog Warns Against BitConnect Recovery Scam syndicated from https://forexlasersforum.blogspot.com

[bitsevenenglish-blog]

MapleChange Crypto Exchange Hacked For 913 Bitcoin (BTC)

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MapleChange Loses 913 Bitcoin ($6M) In “Hack,” Deletes Twitter Page And Shutters Website

On Sunday morning, a lesser-known crypto exchange, revealed that it had apparently fallen victim to a hack, resulting in a loss of consumer-owned funds. The platform in question, MapleChange, which is reportedly Canadian (as its name implies), took to Twitter to explain that “due to a bug,” an unnamed group of individuals managed to withdraw funds, adding that it is conducting a “thorough investigation” and will be unable to make refunds.”While some cast this announcement aside, in the same thread, the exchange issued further comments that made many question the situation.After the “investigation,” MapleChange decided that it would be unable to pay its users back, divulging that “the exchange has to close down, unfortunately. This includes all our social media.” While the first part of the statement is logical, the second comment led many to raise their eyebrows, so to speak, in suspicions that this hack isn’t cut and dried.This unexpected occurrence quickly swept across the Twitter environment, with prominent industry leaders, like Changpeng Zhao, Joseph Young, and BitLord all commenting on the apparent “hack,” but only with feelings of skepticism.Joseph Young, a crypto-centric journalist and analyst, was blunt, explaining that MapleChange had likely pulled off an “exit scam”, later bashing small exchanges, which he believes are only focused on maximizing profitability, while disregarding how its customers (and their funds) are treated and managed.BitLord, a prominent Australian cryptocurrency trader, even went on a six-minute rant about MapleChange, explaining, like Joseph, that small crypto exchanges should be addressed with skepticism, adding that this is what has allowed him to stay in the crypto industry for extended periods of time without substantial losses.Last but not least, Changpeng Zhao, the well-known CEO of Binance, noted that consumers should avoid exchanges that don’t have access to cold wallets at all costs, as a lack of proper storage solutions is indicative of the platform’s intent and goals.The odd nature of the hack even catalyzed the creation of the Maplechang’ed Twitter page, a parody(ish) of the Bitfinex’ed handle, that is aimed at bringing those behind this attack to justice. In this case, due to the fact that MapleChange’s 913 BTC loss was likely an inside job or exit scam, the individual behind this new Twitter handle targeted the exchange’s top brass.Maplechang’ed quickly dismantled the exchange, finding pertinent information about the “scammer.” Unsurprisingly, much of the data regarding the platform, specifically the domain registry information, were fake, but could still be used to find ties to other groups, individuals, and projects.Interestingly, after some digging, Maplechang’ed found that the CEO of the “hacked” exchange was in cahoots with a mining pool, ETZmine.com, and a cryptocurrency project named Weycoin (WAE), but their involvement in this apparent “scam” has yet to be defined.This is an ongoing situation, and due to the fact that foul play is likely involved, a criminal or vigilante investigation may ensue. Ethereum World News will be sure to keep you updated on the situation. Stay safe out there - bitseven.com. 

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[bitsevenfrancais-blog]

PR: Bithumb to Hold Transaction Fee Payback Promotion for Overseas Users

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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.Refund benefits for KRW 1 Billion transactions in a limited time from September 20 Bithumb, a global cryptocurrency exchange will offer overseas users an event to payback 70% of transaction fees as an expression of appreciation for their support and loyalty.Bithumb is planning to hold a ‘Cryptocurrency Transaction Fee payback promotion’ for overseas users from September 20 to October 21, 2018 (GMT +9) Korean Standard Time. The event is for the overseas users who have completed transactions over KRW 1 Billion (Approx. USD 890,000, Bithumb cash standard) and are to expecting to get payback 70% for the transaction fees incurred within this period.Transaction fees will be refunded in consecutive order from November 5 until November 9, 2018 for five days (GMT +9) Korean Standard TimeThis event is exclusively for overseas users, not only existing users but also newly joined users are welcome to participate. However, those who are Korean nationals and joined through Korean mobile number are excluded this time.According to Head of Marketing Department of Bithumb, Andy Choi, “global interest in cryptocurrencies such as Bitcoin and Ethereum is growing due to fast international money transfer as well as easy transaction.“ And he added, “We appreciate our overseas users for their trust in and transaction on Bithumb. We are glad to continue this event in September as well to reward them for their support“For global customer’s convenience, Bithumb provides a foreign language counseling service in English, Japanese and Chinese, further strengthening its position as a leading cryptocurrency exchange in the world - www.bitseven. com.

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Lorsque la transaction est effectuée par un nouvel utilisateur, les dividendes sont versés à vie à un taux de 30 %.

Au fur et à mesure que le nombre de transactions des nouveaux utilisateurs augmente, les dividendes sont augmentés.

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[cryptoandblockchaintalk]

EPISODE 17: ICOs and Regulations: Taming the New Wild West

ICOs and Regulations: Taming the New Wild West

  ICOs - or Initial Coin Offerings - are a widely used method for cryptocurrency startups, and also how some blockchain technology companies raise their initial funds to get their projects started. It is very much like a Kickstarter or GoFundMe, with the “reward” being given in newly created tokens. These tokens can be used on the product or service that is being built, which is referred to as a utility token, or in some cases, held like a stock and entitles the holder to a profit share, which is referred to as a security.

  With an ICO, businesses will usually write a whitepaper which gives all the details about their purpose, ideas, and a roadmap to allow investors (both small and large) to have the information needed to buy into these projects for a fraction of the speculated cost, once the coin hits the open market. These projects, are mostly still in the beginning stages of development.

  That’s right, most have no working product yet, but still ask people to pay them… and people do! By the tens of thousands, or even millions in some cases. ICOs took in over $2 billion dollars in 2017. There are currently over 1500 ICOs that have taken place, with thousands more on the horizon. All on the promise of what might be.

  If that doesn’t sound scary enough, add this factor in - ICOs have been mostly unregulated. Until now.

  Until recently, the industry has not been taken seriously by governments, financial institutions, or most of the general population. But with a market cap today of over $424 billion dollars at the time of writing (May 2018), it is now just beginning to get the attention it warrants.

  While many have gotten rich beyond their wildest expectations, others have been defrauded, robbed, and scammed. For even a discerning mind, it can be difficult to tell the difference when taking in a project at first glance. As 2018 moves forward, governments around the world are taking notice and passing laws they feel best protects their people. There are many concerns:

  Fraud, is the first, and most obvious, concern. China and South Korea have both banned ICOs. The United States has launched several SEC investigations, and is considering whether it can claim crypto coins are securities (which can only be sold by licensed individuals/institutions).

  Ponzi/Pyramid schemes have been a big problem also. USI-Tech and Bitconnect are two of the largest successful scams to date, taking in hundreds of millions of dollars, on false pretenses, only to shut down (or be shut down by the government).

  A substantial amount of money is now leaving the traditional investment sector, to a place where it can vanish and never be recovered if a company goes under. For money to leave the country in the past, a wire transfer had to be created, which was recorded and monitored, and took a long time to complete. A cryptocurrency transaction can move any amount of money around the world in just a moment, with or without a trace (depending on which currency is used).

  Price fixing is an issue as well, with many coins being mineable (created), using computer hardware performing work. It is considered a “pump and dump” technique, to create and flood the market with supply at will, to control the price.

  Some cryptocurrencies are untraceable and private, so governments are worried they will be used for money laundering for criminals, and avenues that can be used to fund terrorism.

  It is important to mention in context, that all of the above activities still existed and thrived long before cryptocurrency ever came around. Even though automobiles are used by bank robbers to make their escape, not every car on the planet is used by a criminal. Hopefully, the same logic will prevail.

  Despite all the calamity, why are ICOs still growing in popularity? Because it gives people a chance to make an investment. The minimum investment into a wall-street IPO is tens of thousands of dollars. Many offerings are restricted to accredited investors only. The common person isn’t permitted or endowed enough to participate at the most profitable stages in traditional finance. Cryptocurrencies and blockchain companies are built and financed by the common person, united to build something that makes the world a better place. On social media channels and community sites like Telegram, you can see thousands of loyal (sometimes rabid) followers and investors who believe in their project of choice, and back it like their favorite sports team.

  Legal Standing in 2018

  China - ICOs are banned 100%. The Chinese companies who completed their ICOs were instructed to refund all the money they received. The government has also banned crypto exchanges and may be soon blocking all sites related to the cryptocurrency industry entirely.

  European Union - ICOs are regulated, as of November 13th, 2017. An ICO must adhere to Anti-Money Laundering and “Know Your Customer” policies. Investments cannot be anonymous, and full personal disclosure must be made by investors.

  United States - ICOs are heavily regulated. ICOs are required to obtain a license, and register with the SEC. Many who have not considered their own token to be a security have not registered yet, and are fearful the SEC will come after them. Anti-Money Laundering and Know Your Customer procedures are required. There is more regulation to come from currently ongoing investigations.

  Canada - ICOs are regulated. Depending on the type of coin, it may be classified as a security, and is subject to government regulation. Canada looks at each project on a case by case basis, rather than one sweeping law that rules everything related.

  Switzerland - ICOs are treated with supportive regulation! Laws are friendly, and help protect cryptocurrency companies against suffocating regulations from other countries. They go through each ICO to weed out the potential fraud and poorly designed projects, leaving behind a good promising ICO market.

  Israel - ICOs are allowed, though a study is being conducted to decide how to regulate these operations in the future. There are plans to introduce tax laws on ICO tokens.

  Germany - ICOs are regulated. Germany warns the public that investments in these projects are risky. Germany defers to the November 13th, 2017 European Securities Market instruction to comply to securities standards.

  Japan - ICOs are allowed, but regulation is on the horizon. Japan is considering whether ICOs could fall under the Payment Services Act, or Financial Instruments and Exchange Act. In 2016, Japan declared Bitcoin a legal currency, a monumental achievement for the crypto community!

  Russia - ICOs are allowed. The government is currently watching things unfold while it determines what stance to take. In October 2017, it issued a ruling that requires all altcoin (a blanket term for any cryptocurrency besides Bitcoin) miners to register, and tax laws will be modified.

  Singapore - ICOs are allowed. Regulation seems to be coming soon, as the Monetary Authority stated in November 2017, that altcoins could qualify as a “capital market product” and be subject to existing regulations for other products in that industry.

  United Kingdom - ICOs are allowed. The government has issued warnings to investors about the risks of investing in these products, calling them “experimental”. Regulation could be coming soon, but there are no clear indicators of what the attitude will be.

  Brazil - ICOs are regulated. Virtual currency exchanges are banned. ICOs are considered securities and are subject to all applicable laws.

  Australia - ICOs are regulated. Australia looks to weed out scams and fraudulent ICOs, promoting the remaining ICOs as free from fraud.

  United Arab Emirates - ICOs are allowed. The UAE plans to pass regulation at some point in the near future.

  Taiwan - ICOs are allowed. The Taiwanese government is supportive of blockchain technology and cryptocurrency.

  While ongoing legislation is underway, the crypto market experiences extreme volatility and has nearly unimaginable dips and peaks, when fears about unfavorable rules or country-wide bans occur. In February 2018, the market overall value dropped more than 60% from January highs, as China passed its law banning cryptocurrencies and exchanges. As of mid-April 2018, it has since recovered the majority of that loss, (much of that growth happening in a 2 week span). It is a scary place to be a day trader, but those who hold for the future are always optimistic.

  With so much happening so fast, it can get confusing very quickly. In some places, the rules hurt ICOs. In some places, the rules help ICOs. In some places, the rules apply only to the ICO but not the actual coin and company itself. In some places, the rules apply to the entire industry regardless of the product. It is safe to expect that as time goes on, only more laws (and taxes) will be implemented. Some may see this as a good thing, paving the way for financial institutions and the general public to feel safe participating in the financial revolution, boosting the portfolios of everyone else who got in early. Others feel these rules are burdening and suffocating a decentralized worldwide market, prohibiting natural growth. In any event, there are many more changes to come in the next few years. It’s an exciting time to be alive.

  But before we leave, let’s have a look at Venezuela’s new country-backed cryptocurrencies, the Petro.

  Listen to Crypto and Blockchain Talk for more interesting topics!

Check out this episode!

[cryptocurrencyaholic]

Beware Of This NEW Crypto Scam When You Are Investing Into Your Crypto

This week I continue my rampage against the pitfalls you should watch out for in cryptocurrency.

One of the biggest scam are known as lending platforms.

These are generally platforms where you put in an amount of Bitcoin, i.e, you “lend” it to the platform, and in turn you are “paid” guaranteed returns. That right there should be a red flag. Anything that claims to pay guaranteed returns, especially if they give a percentage per day, e.g., “make 1% returns daily!” is likely a scam.

Of course, someone may make the comparison between guaranteed returns of lending platforms and averaged returns of Proof Of Stake coins, such as NavCoin, who advertise 59% annual staking rewards. The difference is that staking is helping to secure the network, and as a result of you are paid incentives for locking away you coins. Lending platforms are instead trying to get you to give them a valuable currency, such as Bitcoin, and they will prevent you from withdrawing that initial investment. To pay you, they will often give you their token in return. In this way, when they decide to pull the plug, they haven’t lost anything because they never cared what the value of their worthless token was, only how much of the valuable token they made off with. This is exactly what I saw with Bitconnect, which had a market cap of 2 Billion for their Bitconnect tokens at the time it went under, but likely they had way more in Bitcoin stashed away.

Here’s a list of known crypto scams and Ponzi schemes you should watch out for.

BCC Cash (note that this is different from Bitcoin Cash)

BCHconnect

Billion Bit Club

Binary Coin

Bit Sequence

BitAl

Bitchamps

Bitclub/clubcoin

Bitcoin Ascension (pyramid scheme)

Bitconnect X

Bitether

Bitfinite

Bitfintech

Bitglare Coin

Btchash

Btc-Rush

Btcwait

Chrysos

Coinrium

Cointeum

Coinspace

Dascoin

Ecomcash

Eigencoin

ETHconnect

Etherbanking

Exacoin

Falcon Coin

Farstcoin

Ficoin

Firstcoin

Forzacoin

Futurecoin

FUU Coin

Gold Reward Token

Goldgate

Hedgeconnect

Hextracoin

Home Block Coin

HotCrypto

Hydrocoin

Ibiscoin

iCenter

Ideacoin

iFan

lotaconnect

Knox Coin

Legendcoin

Lendconnect

Lendera

Libra Coin

Liteconnect

Loancoin

Martcoin

Moneroconnect

Monetize Coin

Monyx

Neoconnect

Numiv

Oalend Coin

Onecoin

Pagarex

Purpose/DUBI

Regalcoin

Rothscoin

Secular Coin

SFICoin

Steneum

Stepium (pyramid scheme)

Swisscoin (pyramid scheme)

Tenocoin

TEX Coin

Thorn Coin

Ucoin Cash

Unix Coin

USI Tech

wel

Western Coin

XRPconnect

Defunct ponzi schemes:

Ambis

Bitcoinly

Bitconnect

Bithaul

Bitlake

Bitpetite

Bitsupreme

Btcbox.cc

Chain.Group

Coinreum

Control Finance

Cryptodouble

Davor

Ethtrade

Laser Online

Loopx

Mavro

Mecoin

Metizer

Microhash

Paycoin

Plexcoin

Thunderbit

Vixice

Vone

As you can probably tell, there’s a lot of them, and more are popping up all the time.

Additionally, you can check if a coin is likely a scam by searching for it on http://www. badbitcoin.ore/thebadlist/index.htm

Lastly, the best defense is common sense. Ask yourself, “does this sound too good to be true?”, which in the context of crypto is a bit of a non sequitur, but it is absolutely true. In crypto it is absolutely possible to make a lot of money, but for some who believe more than they think rationally, the harsh reality is that it’s absolutely possible to lose a lot of money.

lf nothing else, if you see a coin or platform that you’re not quite sure about, email me and I’ll check it out. I’ve got a lot of experience in looking for red flags, and the last thing we want you to do is get involved in the next Bitconnect or Davorcoin.

As I talked a few days ago, centralized exchanges are the least secure place to store your funds. Most notably last week 130 Million dollars worth of Nano (NANO) was stolen from the exchange Bitgrail. Today Cointelegraph interviewed the now infamous owner, Francesco Firano, who bluntly stated that it’s, “… impossible to refund the stolen amount.”

This of course is to be expected given Firano’s reaction to the hack has been to place blame on the Nano developers and call his customers, “idiots”. Clearly, exchanges are where your funds are least secure.

One of the most interesting stories I saw today was this one from Coaindesk, where they reported that salon.com, an online news publisher, is giving readers a choice between seeing ads or mining Monero.

“We automatically detect your current processing usage and assign a portion of what you are not using to this process. Should you begin a process that requires more of your computer’s resources, we automatically reduce the amount we are using for calculations.”

I think this is a revolutionary solution to the ads vs. ad blocker debate that’s been going on for a few years now. A few other coins that are trying to solve this issue using cryptocurrency are Basic Attention Token ($BAT) and Oyster Pearl ($PRL). Ads are intrusive and can even be harmful to users, so having a way for users to still receive free content while paying for it using resources they don’t even consider is a brilliant compromise.

The post Beware Of This NEW Crypto Scam When You Are Investing Into Your Crypto appeared first on CryptoCurrencyAholic - News on Bitcoin, Altcoin and Cryptocurrency.

[antiquatedpress]

Crypto Accepted Here

Howdy all,

It my regular rare post just to check in and let everyone know, yes I am alive. I have been busy but with work outside of AP releases. Although that is not entirely true and a release in the next few months is a certainty. Something I am very excited about too.

But this post is about the new crypto function added as a purchase option. Holy cow crypto!! for an antiquated guy who loathes working on a computer.. accepting this state of the art digital currency seems odd. But whatever, I am a true believer in the future of blockchain. I sincerely feel it will impact not just how we use money, but how everything will work in the future. SO yeah I AM STOKED to offer up checkout via Crypt

Now because this is all super new, it does have some pitfalls. I am using the Coinbase merchant service. And coinbase is great and all - but damn if it isn’t bare bones. At this point I don’t even get a shipping address. So be sure to give a solid email so I can contact you after checkout to get shipping info.

Also it is limited at this point to Bitcoin, Bitcoin Cash, Etherium and Litecoin. Which is a bummer because I am a fan of the Altcoins.. but beggars cannot be choosers and coinbase will be adding more crypto options in the future. That being said If you wanna pay with Monero or NEO or some other Crypto not listed..(not Bitconnect or other shady tokens tho) just shoot me an email and we can do it wild west style.

Oh the other thing is there is no function to build in shipping costs or have multiple prints in a cart to checkout (lame right?)- so every print is listed with a flat $15 dollar shipping and packaging fee. This is handy if you live in Dubai as you’ll get a sweet shipping discount. BUT if you are purchasing multiple prints, you’ll do them one transaction at a time and pay that fee multiple times. Again, if I get orders like this I will refund you the unnecessary additional shipping fees. Again, not perfect.. but all of this is super new so its understandable. I am working with coinbase to get these shortcomings corrected.

Email me joe@antiquatedpress.com if you have any questions, or if you notice any weird errors.

Stoked to be free of the chains of traditional transaction systems!!

viva la crypto!!

Joe

[doorrepcal33169]

Intel Bug Consequences #1254 - Geek News Central

Well, big changes here in the studio and it may have been Intel’s fault. You should watch today’s video for the first 15 minutes or so as I take you on a tour of the studio, unlike anything you have ever seen here. Plus lots of great listener feedback from previous shows.

My New Personal YouTube Channel Geek News Central Facebook Page. Download the Audio Show File

Support my Show Sponsor: 30% off on New GoDaddy Orders cjcgnc30 $.99 for a New or Transferred .com cjcgnc99 @ GoDaddy.com $1.00 / mo Economy Hosting with a free domain. Promo Code: cjcgnc1hs $1.00 / mo Managed WordPress Hosting with free Domain. Promo Code: cjcgncwp1

Show Notes:

Retina Display vs.True Tone

NASA astronauts could one day eat goo 

Volkswagen

$50.00 modem

7 reasons why your smartphone has slow internet speeds

What to do with your tax refund

How the Macbook Air changed laptops forever 

Steve Wozniak 

Bill Gates

8K displays could be ready this year but……

Apple’s brand new 6.1 inch iPhone

Watch a 10 foot tall giant Lego brick get built 

White House says it’s not considering a 5G network

“Jackpotting”

iPhone X

DJI Mavic Air review

Dell explores IPO

Qantas 787 Dreamliner 

T-Mobile

BitConnect hit with class action lawsuit

Intel alerted Chinese cloud giants before U.S. government

Sony LF-S50G smart speaker review 

NASA will stream Wednesday’s rare blue moon eclipse 

Facebook will prioritize local stories in your News Feed

Can’t login to Skype?

Elon Musk

Night Shift

Intel Bug Consequences #1254

from FEED 10 TECHNOLOGY http://ift.tt/2FscPwe

[tradecryptocoin-blog]

The Daily: Belarus Adopts New Regulations, Galaxy Digital Releases Q3 Results

The Daily: Belarus Adopts New Regulations, Galaxy Digital Releases Q3 Results

In this edition of The Daily, we look at the latest regulatory development in Europe – Belarus High Technologies Park has adopted new regulations for cryptocurrency companies. We also cover Galaxy Digital’s report into its third quarter financial results and an alert issued in Texas about a new scam promising refunds to Bitconnect investors.  

Also read: Kucoin Enables Credit Card Payments,…

[bitsevenenglish-blog]

Bitbns Cryptocurrency Exchange Asks Zebpay Users to Join Their Trading Platform

bitcoin exchange, bitcoin margin trading,bitseven,bitcoin exchange,Cryptocurrency exchange,FX Marginbitflyer,CoinMarketCap,poloniex,bitfinex,bitmex,bittrex,bithumb,bitcoin price,etf bitcoin Bitseven.com - Zebpay, one of the most known and important exchange platforms in India, announced that they are shutting down their exchange platform. This created a complicated situation in the Indian crypto market and the community. According to the exchange, they had to stop offering services to its users since regulatory bodies in the country are taking very hard stances towards virtual currencies.Nonetheless, Bitbns, another crypto exchange in India, decided to attract users to its platform. Bitbns asked Zebpay customers not to be worried about the situation and to join its exchange platform. Additionally, Bitbns said that it was a very ‘bad day’ for the whole cryptocurrency community in India.The official statement of the company reads as follows:“We at Bitbns, understand the plight of hundreds of thousands of cryptocurrency holders and traders in this unfortunate hour, and that is why we are here to help Zebpay users migrate their funds to Bitbns.”Users that decide to move their funds from Zebpay to Bitbns would be refunded the withdrawal fees that are charged by Zebpay on selected tokens. Those that want to receive withdrawal fees have to keep the funds on the exchange during a period of a week.It is important to remember that the Reserve Bank of India (RBI) took the decision to ban cryptocurrencies from the country, including Bitcoin. At the same time, the institution warned users about the risks associated with investing and using virtual currencies.Additionally, the RBI announced that banks functioning under the authority of the central bank would not be able to continue offering services to individuals dealing with virtual currencies or crypto exchanges. Moreover, the bank urged financial institutions to stop providing services to crypto users.After this decision, most of the crypto-related firms decided to contact the Supreme Court in order for it to search a solution to this issue. The next week, the hearing related to virtual currencies will take place in the country.

Cryptocurrency exchange, Bitconnect,bitcoin to usd,CoinDesk,Coinbase,Ethereum,Ripple,Bitcoin Cash,EOS,Stellar Lumens,Litecoin,Cardano,IOTA,Tether,TRON,Monero,NEO,Dash,alpari,Binance,Bitcoin Gold,btc usd,eth usd,bitcoin mining,bitcoin price today,btc price, current bitcoin price,best bitcoin wallet 

BitSEVEN | Bitcoin Mercantile Exchange: Trading, Up To 100x Leverage

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