It’s a brave new world for investors out there. Nowadays, you can’t be too careful when choosing who to invest your money with. But, don’t worry, we’re here to keep an eye on the latest scams and frauds to keep you informed on what to look out for.
Investment Scams and Frauds are on the rise!
As many of us might already know, the ten worst cryptocurrencies in the world today hold a total market cap of over $1 billion.
When a project starts earning traction in the crypto community, a host of scammers and hackers wriggle out of the molding to cash in on the continuing surge.
10 Biggest Cryptocurrency Hacks Of 2018
In this article, we will examine some of the biggest scams that have occurred in recent recall and examine the ways in which crypto investors can stay clear of such issues.
1. Coincheck Hack
While most established online exchanges have a multitude of safety checks in place against hackers, in 2018 a group of unidentified individuals were able to cut into Coinchecks’ mainframe and make their way with an unbelievable 500 million NEM (equivalent to $530 million USD).
READ ABOUT THESE HACKS and HIKES HERE…
It was a fraud scheme involving penny stocks, but the scheme’s mastermind ended up making millions of dollars from unsuspecting investors around the country.
California resident Zirk de Maison, a self-described merchant banker, devised a plan to make himself some easy money off the backs of hard-working folks. From about 2008 to 2013, he created nearly a half-dozen small public shell companies—entities that do no actual business and have no assets. He then offered public shares in the company’s penny stocks, which are financial instruments generally worth less than $5 a share.