Top 2018 Cryptocurrency Scams |


10 Greatest Cryptocurrency Hacks Of 2018

In this report we will investigate some of the greatest ripoffs that have occurred in current memory and analyse the approaches in which crypto buyers can remain clear of such challenges.

1. Coincheck Hack

Whilst most proven on-line exchanges have a multitude of protection checks in spot in opposition to hackers, in 2018 a team of anonymous people today were in a position to hack into Coinchecks’ mainframe and make their way with a staggering 500 million NEM (equal to $530 million USD).

2. Giza

This fraud was carried out by the use of a specialist looking ICO campaign.

Giza promoted by itself as a company proclaiming to produce a tremendous-protected currency holder that would allow for end users to store all their virtual property in a person area. Within a month’s time, the job had elevated a whopping $2.4 million USD subsequent which matters started off to go south.

In accordance to quite a few first hand accounts of people today affected by this fraud, the developers connected with this task stopped responding to email messages and even took down the web page inside of the span of a couple of months.

It was later on uncovered that all of the men and women who had been featured inside of the company’s whitepaper were being merely hired actors. The images made use of inside of the web site ended up pulled from diverse instagram accounts illegally, therefore offering the perception that Giza was a reputable challenge.

3. Mining Max

US-primarily based firm Mining Max was equipped to raise a whopping $250 Million USD from traders on the basis of a fraudulent ethereum mining operation. The project seemed respectable for a few of months and even supplied customers with good returns originally.

However, following a pair of months it begun turning out to be very clear to everybody that Mining Max did not use a sustainable business enterprise product and the corporation was only in the industry to make some quick revenue. Following a host of issues from global investors, Korean prosecutors submitted charges against a pair of persons concerned with the enterprise.

When a whole lot of things even now continue being unclear, it is alleged that out of the $250 million that was elevated all through the fundraiser time period, only $70 million was in fact invested on the operation.

4. Benebit

Benebit was a different ICO scam that fooled a good deal of persons on the basis of its smooth presentation and qualified outlay.

The Benebit ICO platform promised people with a exclusive cryptocurrency that would support reward them for their ‘loyalty’. Not only did the task appear to be interesting at first but as for every some media retailers, the men and women behind this venture were being capable to raise all-around $3 Million USD.

It was also unveiled recently that an estimated sum of $500,000 was invested into marketing the ICO so as to make it glance authentic. Consequently it does not arrive as a surprise that a lot of people today have been fooled by this project.

5. Bitconnect

BitConnect is one particular of those names that persons actually took significantly back in early 2017. Although the exchange introduced buyers with an array of lending companies that resembled Ponzi Schemes, several men and women ongoing to back again the venture and invest in its offerings.

On the other hand, just after a calendar year or so, it became clear that the absurd desire premiums that the corporation was supplying were being just not possible and within a years time, the corporation experienced to shut down following they have been issued with a host of stop and desist orders.

It is also truly worth mentioning that prior to the company’s demise, the BitConnect token had been highlighted among the world’s best 20 most thriving tokens.

6. Seele ICO Impersonation

Even though Seele is a completely reputable firm that procured its cash in a authorized method, previously this yr, it was claimed that a selection of scammers saying to be admins for the enterprise contacted different investors and designed their way with just about $2 million really worth of Ethereum.

According to some media retailers, the scammers posed as admins on the Seele Telegram channel and bought buyers to acquire tokens in trade for ether before the sale had in fact started.

7. Confido

Confido held its ICO very last November and was capable to raise extra than $350,000 USD.

The firm claimed to have designed a “smart contract” based system that would be able to streamline business enterprise operations for startups hunting to include blockchain into their existing structural framework.

Confido’s indigenous forex started trading at an outstanding sum of $1.20 for each token but inside a couple of months, it grew to become clear that the overall operation was a significant ploy to steal funds.

Before long just after it was found that the challenge was ridden with loopholes, the major people associated with the venture disappeared and all of their social media accounts and web sites disappeared just about right away.


This rip-off resulted in investors dropping a complete of $3.3 million to miscreants who deceived and stole the non-public keys of clients creating use of this wallet.

As per stories that can be located on the web, was made by a human being identified as John Dass who was a revered member of the Bitcoin Gold community. He promoted the challenge on numerous social platforms which includes Reddit, Steem and was able to entice in lots of inclined folks.

Investigation of the website’s code showed that the website page saved an individual’s non-public keys as and when they had been submitted. The owners of the task ended up also discovered to have altered the platforms GitHub code in an attempt to steal as considerably funds as they could.

9. Karbon

Karbon is another a single of those people tasks that appeared really legit when they took off but a few of months in, it turned very clear that the creators had been only in the industry to make a quick buck.

The system promoted alone as getting a decentralized social market and was capable to elevate a lot more than $200,000 all through its ICO time period.

As for every the whitepaper, the Ethereum-centered undertaking mentioned that it would assistance facilitate communication channels concerning end users, retailers and advertisers so as to produce a trade market that was not only skilled but also decentralized.

10. Plexcoin

Plexcoin is an additional identify that may ring a bell with some crypto fans. The task launched its ICO last calendar year and was equipped to purchase an spectacular sum of $15 million.

On the other hand, shortly soon after Plexcoin was scheduled to go reside with its platform, the company’s assets have been frozen and founder Dominic Lacroix was billed soon after being accused of defrauding traders by creating fake promises and guarantees than could not be sent upon.



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