FX.co ★ Top 9 significant bitcoin scams

Throughout the world, with the advent of Bitcoin cryptocurrency, various kinds of fraud have also started, in which this payment instrument was involved. Experts recognize Mt.Gox, an exchange of digital currencies, which makes transactions between Bitcoin and national currencies, as the leader in the list of cryptocurrency frauds. In 2011, because of security problems on Mt.Gox, the cost of Bitcoin collapsed to 1 cent, after which the hacker used computer data to illegally transfer a huge number of bitcoins to himself. In 2014, Mt.Gox closed.

The second place among the high-profile crimes with bitcoins was occupied by Silk Road, an anonymous online trading platform in the Tor network. Many of the products presented on it were considered illegal. The site was known as a platform for trafficking in illicit substances, accounting for 70% of the goods. Cash transactions between buyers and sellers were carried out with the help of bitcoin, which, in combination with Tor, ensured the anonymity of the participants in the transaction and the impossibility of blocking the payment. In 2013 Silk Road was liquidated.

The third place in this list is taken by bitcoin exchange Bitlstam led by Charlie Shrem, who in 2014 was accused of money laundering. For frauds, Ch. Shrem used his own stock exchange and bitcoins. In 2016, he left prison after being there about a year.

The fourth place in a series of major machinations with bitcoins is held by the virtual poker room Seals With Clubs, whose founder, Bryan Micon, was also condemned to two years ago for fraud. He got off with a big fine for managing the illegal gambling system.

The fifth place in this list goes to the so-called next-generation bank NextBank. However, it does not enjoy the confidence of either experts or consumers. The bank offers to store savings in 135 fiat currencies, precious metals and cryptocurrency. The list of its services includes the use of international debit cards and escrow service. With a careful examination of the situation, it turns out that NextBank attracts credulous investors, although the company does not have any infrastructure or qualified personnel to provide all the declared services.

The sixth place in the list of the most famous frauds with bitcoins is given to the owner of the already mentioned Internet site Silk Road, Ross Ulbricht, accused of drug trafficking. He was also charged with hacking attacks, scams with bitcoins and money laundering.

The seventh place in the row of high-profile scams with bitcoins went to the OneCoin project, an MLM system launched by Ruja Ignatova's One Coin Limited in 2015. The company calls OneCoin a digital currency, based on cryptography. Experts observe here signs of a financial pyramid. OneCoin is not a cryptocurrency, but an analog of electronic payment units used in online games. All information about it is a crime fiction aimed at stealing depositors' funds. Potential investors are informed that OneCoin is not recognized as a financial instrument.

The eighth place in this list is taken by a serious organization that deserved severe accusations of the authorities, the Syrian Electronic Army (SEA), its representatives send emails with personal data and threats to the recipient and his family, demanding payment in bitcoins. SEA is accused of unauthorized access to government systems, as well as providing false information about terrorist attacks.

The last in the series of crypto frauds can be called the largest operations on the Coin.mx exchange, related to money laundering. Fraudsters often used this popular bitcoin exchange to cash out bitcoins illegally obtained, for example, using the Trojan Cryptowall. The organizers of the exchange, Lebedev and Murgio, also created a shell company Collectables Club for the conspiracy of fraudulent schemes. To conceal illegal actions, Murgio took control of the credit organization Credit Union. In 2015, the leaders of Coin.mx were arrested.