The rise of Bitcoin related frauds in USA

 

We hear a lot of news lately about the rise of Bitcoin crypto currency. We also hear a lot about how people made millions from investing in Bitcoins. We also hear a lot about how Banking industries worldwide is embracing Bitcoin and similar technologies for the future. Japan has also recently legalized Bitcoins in mid-march 2017. While there is a lot of good that will come out of Bitcoins and related crypto currencies in future, but there is a darker side of such technologies and we as a society should not ignore.

Crypto currency like Bitcoin is a quantum shift on how money is transferred from one person to another person and it is very hard to track such transactions. I believe that we need to write new laws and develop new tools to ensure that criminal elements do not use such technologies to harm individuals without any consequences.

I thought that I will share a few articles that will talk about the darker side of Bitcoins!

  1. Bitcoin scams: Beware of crooks trying to steal your cryptocurrency with these schemes

Here is the link for this article

http://www.zdnet.com/article/bitcoin-scams-beware-of-crooks-trying-to-steal-your-cryptocurrency-with-these-schemes/

  1. FBI Warns Against Data Breach Extortion

Here is the link for this article

https://blog.knowbe4.com/scam-of-the-week-fbi-warns-against-data-breach-extortion

  1. Scammers demand Bitcoin in DDoS extortion scheme, deliver empty threats

Here is the link for this article

http://www.csoonline.com/article/3209132/security/scammers-demand-bitcoin-in-ddos-extortion-scheme-deliver-empty-threats.html

  1. Blackmail letter scam strikes in Chesterfield and Henrico, VA

Here is the link for this article

http://www.nbc12.com/story/34516783/blackmail-letter-scam-strikes-in-chesterfield-and-henrico

  1. Hackers Have Stolen Millions Of Dollars In Bitcoin — Using Only Phone Numbers

Here is the link for this article

https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#7483cf5938ba

  1. FBI’s Internet Crime Complaint Center

Here is the link for the FBI’s Complaint Form

https://www.ic3.gov/default.aspx

 

Authored by : “Sanjay Barthakur”

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