There’s no denying that cryptocurrency has taken the world by storm. In the last few years, digital currency has seen an incredible surge in popularity, with millions of people now using it to buy goods and services online. In other words, cryptocurrency has become a big business.
But, with this newfound popularity has come a dark side: scams. Cryptocurrency trading scams are no stranger to controversy and fraud, but they’re becoming more prevalent as the industry grows. No one is safe from these digital assets’ predators, from big-time investors to everyday users.
To help you avoid becoming a victim of fraud, here are six biggest cryptocurrency scams of all time:
1. Bitcoin savings & trust
This organisation is, perhaps, the most infamous cryptocurrency scam of all time. The Bitcoin Savings & Trust (BS&T) was a digital currency Ponzi scheme that promised incredible returns to investors. BS&T claimed to be a Bitcoin trading platform, but it was just a front for massive fraud.
BS&T lured in investors with the assurance of huge profits, but, instead, they just used new investor money to pay off old investors. This went on for a while until, eventually, the whole thing imploded, and the SEC shut down the BS&T.
It’s no secret that it’s tempting to invest in things that promise sky-high returns, but it’s best to always be wary of these opportunities, and BitConnect was the perfect example. This digital currency platform promised its…
