Ponzi Scheme- Dangerous game for crypto currency
Hello Guys,
Since the uses of crypto currency is increasing we have seen that lot of scammers are heading out and try to capture the newly entered investor and cheat them
Recently we have got the news of Australia which seems the biggest fraud.
Australians reported losses of $26,378,380 due to investments scams in the first six months of 2018, according to the latest data from Scamwatch, the body operated by the Australian Competition and Consumer Commission (ACCC). The number of reports reached 1,796 in the first half of the year.
India: India is also facing such scams since 2017- Gainbitcoin belonged to Amit Bhardwaj made the biggest scam here worth $ 5,00,0000 approximately and then there is also lot of small ponzi companies were to caught to do the same.
Vietnam: A small Asian country which faced the serious crypto currency scam worth $864m of Bitcoin and other crypto currency fraud in last year.
philippines: A couple made the biggest scam and requested the government to release them so that they might return investor money.the amount of bitcoin scam here is $19m
South africa: Not in the asian countries this type of scams are spread all over the world. Recently in South Africa it was found that the scam of Bitcoin came out worth $80m
By the way, the main thing to discuss is that- we know that Bitcoin and other crypto currency are safe and secure however lot of Fraud people find the way how to cheat the people and make the money. Even they are still unsuccessful in their activity.
Such fraud make the whole industry in shame and make the new investor to avoid and then Bitcoin and other price get panicked.
Hackers are also the reason to make the prices down, in my next article we will see how can we protect ourselves by hacking our bitcoin and other crypto currencies.
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