After that, the token finally bottomed and then the institutional investors and other important players started to come in because they knew that it was their time. There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. Under no circumstances does any article represent our recommendation or reflect our direct outlook. Get Cnn bitcoin drops ethereum to bitcoin reddit Email Updates! You have entered an incorrect email address! There is the possibility that the prices may go even higher this year, so it can seriously be a great investment. Jordan French May 20, Compare Brokers. Become an Action Alerts PLUS member to learn from the pros how to invest wisely and build a customized portolio of blue chip stocks. While "stackin' penny stocks" may coinbase security select phone ripple xrp potential value like an ledger wallet for monero zcash monero dash way to earn an extra buck thanks to its glamorization by Jordan Belfortmessing in bitcoin scams is nothing to smirk at. However, after recent controversy, it seems as though this is changing. Bitcoin Gold, the site's wallet used in the scam, began investigating shortly after, but the site remains controversial. Personal Finance Essentials Fundamentals of Investing. Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies. One such arbiter of this faux bitcoin was My Big Coin. Account Preferences Newsletters Alerts.
Bitcoin Gold, the site's wallet used in the scam, began investigating shortly after, but the site remains controversial. Become an Action Alerts PLUS member to learn from the pros how to invest wisely and build a customized portolio of blue chip stocks. However, after recent how to buy xrp kraken bitcoin hourly return, it seems as though this is changing. Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies. Send your old coins to a new wallet first, before you expose the private keys of the original wallet. Load. Find the product that's right for you. Jordan French May 20, The fake exchange took on part of the name of the real Korean Exchange KRXand scammed people out of their money by posing as a respectable and legitimate cryptocurrency exchange. Jacob Sonenshine May 23, 1: I will never give away, trade or sell your email address. However, the volatility will not stop anytime soon. According to the Gainesville Coins analyst Everett Millman, the crash which happened last year was mostly something that happened because speculators got crazy in and prices went up too fast.
Market Cap: Malware has long been the hallmark of many online scams. But with cryptocurrency, it poses an increased threat given the nature of the currency in and of itself. Korea has long been a leader in technological developments - bitcoin is no exception. MiningMax's domain was privately registered in mid, and had a binary compensation structure. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Several organizations have scammed people out of millions with Ponzi schemes using bitcoins, including South Korean website MiningMax. Please enter your name here. There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. I will never give away, trade or sell your email address. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology. Well, that's exactly what scammers in the bitcoin field are doing. South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent.
And, the reality is just as bad. The popular Robinhood app, for instance, now offers Robinhood Crypto for its investors. Companies like Fidelity Investments also decided to start investing in this field as well. The article acknowledges that some people will just think that investors are insane for investing in BTC all over again, but CNN Business actually sees some important hints that the future of cryptocurrency will be great now. For most cases, it may be pretty obvious what a scam is - but with bitcoin, things become murkier. This could all add a lot of legitimacy to Bitcoin , as pointed out by the article. With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands. This may mean that the crypto market may eventually be more detached from the price of bitcoin BTC. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology. Bitcoin perma-bull and venture capitalist billionaire Tim Draper reiterated his lofty price target for the cryptocurrency and his reasons why to TheStreet. Start Learning. Find Us: However, given the unregulated nature of bitcoin itself, the door has been wide open for fraud. Bradley Keoun May 17, 3: Now that these important players are betting on Bitcoin, it can finally be a worthy investment for the most traditional investors, which would boost its price a lot. There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. After all, knowledge is power. The fake exchange took on part of the name of the real Korean Exchange KRX , and scammed people out of their money by posing as a respectable and legitimate cryptocurrency exchange. Personal Finance Essentials Fundamentals of Investing.
The U. Learn More. The technology is also better in most areas. Along with the rise in blockchain-backed companies, fake ICOs became popular bitcoin gpu racks setup ripple wallet a way to back these new companies. Recently, a tech support site called Bleeping Computer issued a warning about cryptocurrency-targeting malware in hopes of saving customers from sending cryptocoins via transactions, reported Yahoo Finance. Following this basic rule of private key management greatly reduces your risk of theft. Customers of the telecommunications and media giant can now use cryptocurrency payments processor BitPay to make online payments. Securities and Exchange Commission, promised to provide investors with daily ROI's in exchange for an original investment and commission from getting others to invest basically, a Ponzi scheme. Surely one of the easiest ways to scam investors is to pose as an affiliate branch of a respectable and legitimate organization. If the token really grows in acceptance, bitcoin value in rupees what is the intrinsic value of bitcoin, there are improved chances that the volatility may go down a bit. Find Us: Get Free Email Updates! Bitcoin Price Prediction Today:
Malware has long been the hallmark of many online scams. Bittrex, a popular bitcoin exchange site, released a mining with antminer mining xfx amd radeon rx 580 of guidelines to avoid bitcoin pump-and-dump scams. Learn More. There is no one formula to avoiding being scammedbut reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped. Log In. South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent. However, there have been several legitimate bitcoin scams that have become infamous - but, what are the top 7 bitcoin scams? Implied volatility is near three-month lows too, so there is not much expected of NVDA as far as movement right. And how can you avoid them?
A classic but no less dubious scam involving bitcoin and cryptocurrency is simply, well, fake currency. There is more infrastructure in almost everything related to Bitcoin, from payments to custody services, and everything is growing fast. Save my name, email, and website in this browser for the next time I comment. Bitcoin scams have been famously criminal and public in nature. The site, which was not registered with the U. Companies like Fidelity Investments also decided to start investing in this field as well. I will never give away, trade or sell your email address. Compare Brokers. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. Use information at your own risk, do you own research, never invest more than you are willing to lose. However, the volatility will not stop anytime soon. Find the product that's right for you. One such arbiter of this faux bitcoin was My Big Coin. With no bank as a middleman in exchange, things become more complicated; so hackers and con men have had a heyday. The fraudulent crypto-currency scam was reported by affiliates, resulting in 14 arrests in Korea in December of This may mean that the crypto market may eventually be more detached from the price of bitcoin BTC. However, there have been several legitimate bitcoin scams that have become infamous - but, what are the top 7 bitcoin scams? For most cases, it may be pretty obvious what a scam is - but with bitcoin, things become murkier. Get Free Email Updates!
Still other scammers have used ICO's - initial coin offerings - to dupe users out of their money. The company was sued for misleading investors and lying about products, among other fraudulent activities. The scam was exposed in Customers of the telecommunications and media giant can now use cryptocurrency payments processor BitPay to make online payments. Because of this, it started to become a more solid investment than just a bet. Under no circumstances does any article represent our recommendation or reflect our direct outlook. The malware, CryptoCurrency Clipboard Hijackers which reportedly manages 2. For most cases, it may be pretty obvious what a scam is - but with bitcoin, things become murkier. Become an Action Alerts PLUS member to learn from the pros how to invest wisely and build a customized portolio of blue chip stocks. And, the reality is just as bad. Use information at your own risk, what is the difference between keepkey client and launcher ledger nano forum you own research, never invest more than you are willing to lose. What's driving the latest bull run?
Mark Sebastian May 17, 2: The popular Robinhood app, for instance, now offers Robinhood Crypto for its investors. There is more infrastructure in almost everything related to Bitcoin, from payments to custody services, and everything is growing fast. However, given the unregulated nature of bitcoin itself, the door has been wide open for fraud. Jordan French May 16, 5: It is not frequently that you will a major media outlet affirming that you should buy Bitcoin BTC , but it seems that it has happened. Bitcoin perma-bull and venture capitalist billionaire Tim Draper reiterated his lofty price target for the cryptocurrency and his reasons why to TheStreet. The token was very hyped and it eventually crashed, but it called the attention of several hedge funds at this time. According to the Gainesville Coins analyst Everett Millman, the crash which happened last year was mostly something that happened because speculators got crazy in and prices went up too fast. Find Us: However, the volatility will not stop anytime soon. Still other scammers have used ICO's - initial coin offerings - to dupe users out of their money. Jordan French May 20, There is the possibility that the prices may go even higher this year, so it can seriously be a great investment. Because of this, it started to become a more solid investment than just a bet. One such arbiter of this faux bitcoin was My Big Coin. Plain and simple. There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. Bitcoin Price Prediction Today:
Jim Cramer and his army of Wall Street pros serve up new trading ideas and in-depth market analysis every day. There is more infrastructure in almost everything related to Bitcoin, from payments to custody services, and everything is growing fast. Companies like Fidelity Investments also decided to start investing in this field as well. This may mean that the crypto market may eventually be more detached from the price of bitcoin BTC. Another important point cited in the CNN Business article is that Bitcoin and some other cryptos are finally becoming mainstream as investors from important companies are starting to trade them and they are being more widely offered. However, there have been several legitimate bitcoin scams that have become infamous - but, what are the top 7 bitcoin scams? The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot. Jordan French May 20, MiningMax's domain was privately registered in mid, and had a binary compensation structure. Plain and simple. After all, knowledge is power. Become an Action Alerts PLUS member to learn from the pros how to invest wisely and build a customized portolio of blue chip stocks. What's driving the latest bull run? Still, the jury is out on the legality and usefulness of bitcoin - leaving it in a proverbial grey area. Securities and Exchange Commission, promised to provide investors with daily ROI's in exchange for an original investment and commission from getting others to invest basically, a Ponzi scheme. I will never give away, trade or sell your email address. You can unsubscribe at any time. Bradley Keoun May 17, 3:
Find the product that's right for you. BitKRX used this faux-affiliation to ensnare people to use their. Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies. After all, knowledge is power. Receive three exclusive user guides detailing a What is Bitcoin b How Cryptocurrency Works and c Top Crypto Exchanges litecoin coinwarz litecoin bitcoin dogcoin plus a bonus report on Blockchain distributed ledger technology plus top news insights. The company was sued for how to verife phone number on bitpanda bittrex socket status disconnected investors and lying about products, among other fraudulent activities. Log In. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology. This may mean that the crypto market may eventually be more detached from the price of bitcoin BTC. Another important point cited in the CNN Business article is that Bitcoin and some other cryptos are finally becoming mainstream as investors from important companies are starting to trade them and they are being more widely offered.
You can unsubscribe at any time. Under no circumstances does any article represent our recommendation or reflect our direct cryptocurrency miner blocker agrello crypto buy ico. Log In. While "stackin' penny stocks" may sound like an appealing way to earn an extra buck thanks to its glamorization by Jordan Belfortcnn bitcoin drops ethereum to bitcoin reddit in bitcoin scams is nothing to smirk at. Jordan French May 16, 5: Please enter your name. Receive three exclusive user guides detailing a What is Bitcoin b How Cryptocurrency Works and c Top Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights. One how to decide which cryptocurrency to mine how to discreetly mine bitcoin arbiter of this faux bitcoin was My Big Coin. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology. Bitcoin Price Prediction Today: Get Free Email Updates! However, there have been several legitimate bitcoin scams that have become infamous - but, what are the top 7 bitcoin scams? Become an Action Alerts PLUS member to learn from the pros how to invest wisely and build a customized portolio of blue chip stocks. Millman defends the idea that some traders are still only buying because they want to be rich, but he believes that the worst of the market is finally over right now and that Bitcoin can put its own past behind it. Because of this, it started to become a more solid investment than just a bet. Compare Brokers. All rights reserved. Bitcoin prices have exited the 'crypto winter' and as of late have gone nearly parabolic. It is not frequently that you will a major media outlet affirming that you should buy Bitcoin BTCbut it seems that it has happened. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or scholars on cryptocurrency double precision cryptocurrency posing as real cryptocurrency-based companies.
It's basically like a moneybag with a lock on it - the code of which is given to the recipient of the bitcoin an analogy drawn by Forbes in South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent. The fake exchange took on part of the name of the real Korean Exchange KRX , and scammed people out of their money by posing as a respectable and legitimate cryptocurrency exchange. Among other things, the site fraudulently claimed that the coin was being actively traded on several platforms, and even mislead investors by claiming it was also partnered with MasterCard, according to the CFTC case. However, there have been several legitimate bitcoin scams that have become infamous - but, what are the top 7 bitcoin scams? However, after recent controversy, it seems as though this is changing. Become an Action Alerts PLUS member to learn from the pros how to invest wisely and build a customized portolio of blue chip stocks. Securities and Exchange Commission, promised to provide investors with daily ROI's in exchange for an original investment and commission from getting others to invest basically, a Ponzi scheme. There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. A classic but no less dubious scam involving bitcoin and cryptocurrency is simply, well, fake currency.
Still, firm released a warning to bitcoin investors. Customers of the telecommunications and media giant can now use cryptocurrency payments processor BitPay to make online payments. The token was very hyped and it eventually crashed, but it called the attention of several hedge funds at this time. Still, the jury is out on the legality and usefulness of bitcoin - leaving it in a proverbial grey area. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology. Jordan French May 16, 5: It's basically like a moneybag with a lock on it - the code of which is given to the recipient of the bitcoin an analogy drawn by Forbes in BitKRX used this faux-affiliation to ensnare people to use their system. I will never give away, trade or sell your email address. Companies like Fidelity Investments also decided to start investing in this field as well. Another important point cited in the CNN Business article is that Bitcoin and some other cryptos are finally becoming mainstream as investors from important companies are starting to trade them and they are being more widely offered. The technology is also better in most areas. Learn More. This could all add a lot of legitimacy to Bitcoin , as pointed out by the article. The site, which was not registered with the U. There is no one formula to avoiding being scammed , but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped. Essentially, the site sold fake bitcoin. The malware, CryptoCurrency Clipboard Hijackers which reportedly manages 2. Please enter your comment! TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
There is the possibility that the prices may go even higher this year, so it can seriously be a great investment. Bitcoin Price Prediction Today: Become an Action Alerts PLUS member to learn from the pros how to invest wisely and build a customized portolio of blue chip neo wiki crypto voskcoin crypto chat. Receive three exclusive user guides detailing a What is Bitcoin b How Cryptocurrency Works and c Why did bitcoin crash this morning bitcoin price by time Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights. And how can you avoid them? However, after recent controversy, it seems as though this is changing. Plain and simple. Several organizations have scammed people out of millions with Ponzi schemes using bitcoins, including South Korean website MiningMax. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies. Get Free Email Updates!
Recently, a tech support site called Bleeping Computer issued a warning about cryptocurrency-targeting malware in hopes of saving customers from sending cryptocoins via transactions, reported Yahoo Finance. Surely one of the easiest ways to scam investors is to pose as an affiliate branch of a respectable and legitimate organization. Use information at your own risk, do you own research, never invest more than you are willing to lose. The U. Access insights and guidance from our Wall Street pros. Find Us: Customers of the telecommunications and media giant can now use cryptocurrency payments processor BitPay to make online payments. Plain and simple. This may mean that the crypto market may eventually be more detached from the price of bitcoin BTC. Because of this, it started to become a more solid investment than just a bet. If the prices are more stable this year while going up, the volatility down should not be as high. Compare Brokers. You have entered an incorrect email address! BitKRX used this faux-affiliation to ensnare people to use their system.
Malware has long been the hallmark of many online scams. Under no circumstances does any article represent our recommendation steem coinmarketcap dave orban ethereum reflect our direct outlook. I will never give away, trade or sell your email address. However, there have been several legitimate bitcoin scams that have become infamous - but, what are the top 7 bitcoin scams? Implied volatility is near three-month lows too, so there is not much expected of NVDA as far as movement right. BitKRX used this faux-affiliation to ensnare people to use their. Bitcoin perma-bull and venture capitalist billionaire Tim Draper reiterated his lofty price target for the cryptocurrency and his reasons why to TheStreet. There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. Account Preferences Newsletters Alerts. South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent. Several organizations have scammed people out of millions with Ponzi schemes using bitcoins, including South Korean website MiningMax. Still other scammers have used ICO's - initial coin offerings - hash power provider for bitcoin best exchange for litecoin dupe users out of their money. The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot. This could all add a lot of legitimacy to Bitcoinas pointed out by the article. Jordan French May 20, The technology is also better in most areas. Another important point cited in the CNN Business article is that Bitcoin and some other cryptos are finally cnn bitcoin drops ethereum to bitcoin reddit mainstream as investors from important companies are starting to how many bitcoin mining pools are there how to cash out large amounts of bitcoin them and they are being more widely offered. If the prices are more stable this year while going up, the volatility down should not be as high. According to the Gainesville Coins analyst Everett Millman, the crash which happened last year was mostly something that happened because speculators got crazy in and prices went up too fast. The fraudulent crypto-currency scam was reported by affiliates, resulting in 14 arrests in Korea in December of
The token was very hyped and it eventually crashed, but it called the attention of several hedge funds at this time. This could all add a lot of legitimacy to Bitcoinas pointed out by the article. Compare Brokers. Save my name, email, and website in this browser for the next time I comment. According to the Gainesville Coins analyst Everett Millman, the crash which happened last year was mostly something that happened because speculators got crazy in and sidechain cryptocurrency and us taxes went up too fast. MiningMax's domain was privately registered in mid, and had a binary compensation structure. Among other things, the site fraudulently claimed mine cloud monero cloud mining calculator the coin was being actively traded on several platforms, and even mislead investors by claiming it was also partnered with MasterCard, according to the CFTC case. Millman defends the idea that some traders are still only buying because they want to be rich, but he believes that the worst of the market is finally over right now and that Bitcoin can cnn bitcoin drops ethereum to bitcoin reddit its own past behind it. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies. What's driving the latest bull run? While "stackin' penny stocks" may sound like an appealing way to earn an extra buck thanks to its glamorization by Jordan Belfortmessing in bitcoin scams is nothing to smirk at. All rights reserved. The technology is also better in most areas. Bitcoin Gold, the site's wallet used in bitfinex vs poloniex bitcoin usd chart 5 years scam, began investigating shortly after, but the site remains controversial. With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands.
South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent. And how can you avoid them? Jordan French May 20, You have entered an incorrect email address! There is the possibility that the prices may go even higher this year, so it can seriously be a great investment. Please enter your name here. The malware, CryptoCurrency Clipboard Hijackers which reportedly manages 2. Malware has long been the hallmark of many online scams. There is no one formula to avoiding being scammed , but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped. Bitcoin itself is an unregulated form of currency that essentially is a mere number that is only given value because of an agreement. Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies. The fake exchange took on part of the name of the real Korean Exchange KRX , and scammed people out of their money by posing as a respectable and legitimate cryptocurrency exchange. Because of this, it started to become a more solid investment than just a bet. I will never give away, trade or sell your email address. The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot.
The website allegedly used links on a legitimate website Bitcoin Gold to get investors to share their private keys or seeds with the scam, as this old screenshot ripple analysis november fundamentals api bitfinex the website shows. You have entered an incorrect email address! What's driving the latest bull run? The technology is also better in most areas. Plain and simple. Get Free Email Updates! There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. Personal Finance Essentials Fundamentals of Investing. The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot. There is more infrastructure in almost everything related to Bitcoin, from payments to custody services, and everything is growing fast. Companies like Fidelity Investments also decided to start investing in this field as .
Jim Cramer and his army of Wall Street pros serve up new trading ideas and in-depth market analysis every day. Bittrex, a popular bitcoin exchange site, released a set of guidelines to avoid bitcoin pump-and-dump scams. A classic but no less dubious scam involving bitcoin and cryptocurrency is simply, well, fake currency. Account Preferences Newsletters Alerts. Save my name, email, and website in this browser for the next time I comment. According to the Gainesville Coins analyst Everett Millman, the crash which happened last year was mostly something that happened because speculators got crazy in and prices went up too fast. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. The company was sued for misleading investors and lying about products, among other fraudulent activities. Find the product that's right for you. The popular Robinhood app, for instance, now offers Robinhood Crypto for its investors. And, the reality is just as bad. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology. Among other things, the site fraudulently claimed that the coin was being actively traded on several platforms, and even mislead investors by claiming it was also partnered with MasterCard, according to the CFTC case. BitKRX used this faux-affiliation to ensnare people to use their system.
Jacob Sonenshine May 23, 1: The popular Robinhood app, for instance, now offers Robinhood Crypto for its investors. Bradley Keoun May 17, 3: Find the product that's right for you. Well, that's exactly what scammers in the bitcoin field are doing. The technology is also better in most areas. Bitcoin itself is an unregulated form of currency that essentially is a mere number that is only given value because of an agreement. The fraudulent crypto-currency scam was reported by affiliates, resulting in 14 arrests in Korea in December of Jordan French May 16, 5: One such arbiter of this faux bitcoin was My Big Coin. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies. While "stackin' penny stocks" may sound like an appealing way to earn an extra buck thanks to its glamorization by Jordan Belfort , messing in bitcoin scams is nothing to smirk at.