With the growth of the cryptocurrencies market and the higher possibility that people own digital currencies, the risk of fraud increases.
Various forms of fraud are involving numerous cryptocurrency holders. Recent informations report cases of people mainly in Vietnam, the Philippines, the United States and Canada (at the time, but the phenomenon would not be circumscribed), cheated by investing in ICOs and ghost companies.
Scammers use traditional ways to of contact people, such as e-mail and telephone calls. In this regard, the local media in Vietnam reported the case of the protests, on April 8, of a group of people outside the offices of a company called Modern Tech, based in Ho Chi Minh, accused of defrauding 32,000 investors through ICO, Ifan and Pincoin.
Investors were promised profits in the order of 48% of the initial investment and full recovery after four months, in addition to paying a commission of 8% for each new member. But profits were calculated only in the system, because they could not be withdrawn in cash. In no case.
One of the best known at international level, as regards the use of multilevel schemes to attract investors is the One Life Network company, whose scheme works with the recruitment of new participants interested in making a profit through an alleged currency called OneCoin. The company has been accused in several countries. In many of them, its operation has been banned.
A different form of fraud has emerged in Alberta, Canada, this time through phone calls. Here we talk about the Epcor case, a service company for gas and electricity, whose customers have been the subject of calls on behalf of the company, which requires a payment of cryptocurrencies with threat of cutting service.
In addition, the cases of extortion also occurred in Belmont, in the United States, where the complaint of residents who received e-mails requesting the payment of 8,750 dollars in bitcoins was reported. One of them had to pay in 10 days, otherwise confidential information about his private life would be revealed.
With the growth of the cryptocurrency market the risk of scam increases. Governments are increasingly insisting on warning users of new dangers.