What is a SIM SWAP scam?

Smartphones have become a prominent part of everyday work and personal life.  Unfortunately, this trend has attracted the criminal element too. One of the scams out there that could cross your path is the SIM swap scam, which is also known as Port Out scam or SIM splitting.  It is a type of account takeover fraud, that targets a weakness in two factor authentication and two step verification, where the second step in the process is an SMS message or a call placed to a mobile phone.      …

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FCA issues warning as Forex and Crypto fraud reports triple

Today, the FCA has announced warned of the rise of fraudulent online trading platforms after the reported number of crypto and forex exchange scams more than tripled in the last financial year. It also found that the total losses from these scams amounted to £27 million.   Kevin Murcko, CEO at crypto exchange CoinMetro, commented:   Criminals follow the money, and this report from the FCA shows they are taking advantage of consumers’ lack of understanding about crypto assets. If you’ve heard about Bitcoin on the news but don’t know…

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Industry Consortium Launches Crypto Community Watch Program

  Leads self-policing of the cryptocurrency industry; opens tip line and 100 Bitcoin reward pool for anonymous whistleblowers Singapore – August 20, 2018 –ECoinmerce, the world’s first decentralized and tokenized E-commerce marketplace, today announces the formation of the Crypto Community Watch program, which provides an anonymous tip line and reward mechanism to empower whistleblowers and investigate cryptocurrency scammers and hackers.     The program was created by a consortium of industry players including ECoinmerce, ICO Alert, GZH, Step VC, and NewEconomies. The group’s goal is to create a community that…

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Bitcoin News Review – 30 April 2018

A short summary of the news of the weekend:   Binance Signs Agreement With Bermuda Gov’t On $15 Mln Investment, Jobs: Outraged Pro-BTC Community Alleges Bitcoin.com Is Misleading Buyers Into Buying BCH VRT World Launches Marketplace Alpha Version Charlie Lee: ‘To make Litecoin More Decentralized, Eventually I Would Step Away’ Scammers Hijack Verified Twitter Account To Steal Crypto By Posing As Telegram CEO Enquiries About Cryptocurrencies Tripled in 2017, Japan Regulator Says     Bermuda’s Virtual Currency Business Act passes through the House of Commons, UK Dubai: Police Use AI…

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Twitter to blame for Twitter Bitcoin Scam

Did You Hear the One About the Special Giveaway?   “Big news from the Poloniex team today!” tweeted the U.S. exchange on Monday, announcing its acquisition by Circle. The first response to the tweet was as predictable as it was pitiful: “We аre joining Circle! To commemorаte, we’re giving аwаy 2000 ЕТΗ,” wrote “Palooniex”. “To pаrticipаte, senԁ 0.3-3 ЕТΗ to our аԁԁress below аnԁ get 3-30 ЕТΗ bаck. Hurry!”   Where does the blame for these scams lie? Although it’s easy to get mad at scammers for perpetrating these sorts…

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An Open Letter to Pipcoin founder, Ref Wayne

To: Pipcoin founder, Ref Wayne – An Open Letter From the Desk of Bit-Media Zug, Switzerland To: Pipcoin Founder, Ref Wayne South Africa 6 August 2016 Dear Mr. Wayne There has been an incredible response to our previous post: – PIPCOIN / PIPCHAIN… IS IT REAL OR IS IT A SCAM? Most of these responses were emotional rants from people who feel threatened because of our efforts to expose the facts. You yourself responded on our Facebook page but you did not really give us any real answers to our questions.…

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