Tag Archives: Scams

Top 3 Types of Bitcoin Scams

 

Top 3 Types of Bitcoin Scams

TheMerkle Bitcoin Scam Types

 

It is not hard to see the cryptocurrency world has successfully attracted a lot of nefarious individuals looking to scam others. In fact, it appears there are more bitcoin-related scams showing up every single day. As one would expect, there are a few different types of scams that are more prevalent than others. Never change a winning tactic, according to criminals.

3. PONZI SCHEMES

Virtually every platform offering bitcoin investment should be treated with a lot of scrutinies. While there is a way for people to make money with other’s money  – trading altcoins, for example – no one has successfully done so on a large scale. Trading itself is a very risky business, yet it is also the most legitimate way to increase cryptocurrency holdings over time.

Unfortunately, there are quite a few large-scale investment opportunities, all of which will eventually turn into a scam. Ponzi schemes in the bitcoin world will always attract desperate people and shills, and there is quite an abundance of these programs available right now. Never trust any online platform claiming to let you earn money without doing anything.

2. MINING HARDWARE

The Cryptocurrency world is home to some great innovation, especially where mining hardware is concerned. Gone are the days of FPGA mining, as it is all about ASICs right now. There are quite a few companies who claim to manufacture hardware, and most of them will offer pre-sale discounts to anyone investing in that company. It is not surprising a lot of these companies offering pre-sales are complete scams, as most of them do not even have any ASIC research and development lab whatsoever.

One of the more recent scams revolving around bitcoin mining hardware goes by the name of Foxminers. The company provides no evidence of their mining hardware or research. Companies like these often trick people into depositing funds in the hopes of getting a cheaper new bitcoin miner. However, they will continue to delay shipping and eventually run off with the money.

1. CLOUD MINING

Perhaps the biggest industry of bitcoin scams comes in the form of companies claiming to run a cloud mining operation. One of the biggest cryptocurrency cloud mining scams to date goes by the name of HashOcean, a company that successfully paid miners for over a year until they finally disappeared and could no longer maintain paying out users accordingly.

Every cloud mining venture should be looked at very closely, as the number of legitimate companies can be counted on the fingers of one hand. Even then, ensuring a return on investment is virtually impossible due to volatile bitcoin prices and mining difficulty increases. Cloud mining can be somewhat lucrative if one is lucky, yet directly buying the cryptocurrency in question and holding onto it for the same duration as the mining contract will usually generate better returns.

Chris Corey CMO MarketHive

   April 28, 2017

Alan Zibluk Market Hive Founding Member

Correct Response To Personal Information Fishing Scams

Correct response to people online trying to steal my identity. They want my personal information like my drivers Lic. to send me $26,700,000.00 in USD because someone I have never met with a name similar to mine died wealthy. 

Dear Christopher,

I am Ahmed Ali Al Sayegh Managing Director of First Gulf Bank in United Arab Emirates .I write

you this proposal in good faith hoping that I will rely on you in a business transaction that

require absolute confidentiality and of great interest and benefit to our both families.
 
In 2007,one Mr.Husson Christopher an Emirate Citizen whose surname is same as yours and has your

country in his file as his place of origin, made a fixed deposit for 36 months, valued at

$26,700,000.00 with my bank. I was his account officer before I rose to the position of

Managing Director. The maturity date for this deposit contract was 27th of September 2010.Sadly

Mr. Husson was among the death victims in the September 2009 earthquake in Indonesia that left

over 1,200 people dead while he was there on business trip.
 
Since the last quarter of 2010 until today, the management of my bank has been finding means to

reach him so as to ascertain if he will roll over the Deposit or have the contract sum

withdrawn. When I discovered that this will happen, I have tried to think up a procedure to

preserve this funds and use the proceeds for business. Some directors here have been trying to

find out from me the information about this account and the owner, but I have kept it closed

because, i know that if they become aware that Mr. Husson is late, they will divert the funds

for themselves. Therefore, am seeking your co-operation to present you as the one to benefit

from his fund at his death since you have the same name, so that my bank headquarters will pay

the funds to you. I have done enough insidebank arrangement and you only have to put in your

details into the information network in the bank computers and reflect you as his next of

kin.If you concur with this proposal, I intend for you to retain 50% of the funds while 50%

shall be for me.

Kindly forward your response to me.

Mr.Ahmed Ali Al Sayegh
Managing Director (Head of First Gulf Bank)
Email: sayeghahmedali7777@gmail.com

Me:Ok you need my Drivers Lic Correct

Thanks for your interest in my proposal. My initial proposal to you was to brief you on the

need to assist me so that we take advantage of the death of my former customer in the bank.This

transaction requires utmost trust and dedication from you, since you will be receiving the

funds ($26,700,000) as the Beneficiary Next of Kin to Mr Husson Roni who died on a business trip

to Indonesia in September 2009 earthquake. I am under the believe that my sharing ratio is

accepted by you, 50/50% is a fair deal. I want you to bear one thing in mind, this transaction

is 100% risk free and secured once you follow my instructions. What I have to do is just to

place your information in the bank system database as the Next of Kin to late Mr.Husson Roniand

As the Head of Operation of First Gulf Bank, placing your details in the system as the Next of

Kin to late Husson is an easy work for me. This is a very easy job with me in the bank it will

not last more than 2 to 3 weeks and the funds will be released to you.

As the Accounts manager to him , I have to take advantage of the situation to get the deposit

he has with our bank instead of the bank heads to confiscate it for their selfish use. They are

already rich because they get this type of business often and on

The information I require to commence the process is as follows:

1. FULL NAME
2. DATE OF BIRTH
3. OCCUPATION
4. CONTACT ADDRESS
5. PHONE NUMBER
6. SCANNED IDENTITY CARD

In receipt of the above-mentioned information, I will draft an application letter to you which

you will use to apply to an accredited Consultant to the bank of Dubai whom i shall give you

his contact details, am also sending you my bank identity card the deposit document of the

funds as a proof, But most
Importantly, I will like you to assure me that you will not betray this trust and confidence

that am about to repose on you.

Finally, I am hoping to meet you and your family as soon as we get the fund transferred into

your account for disbursement and investments purpose. I wait for your email.

Best Regards

My Drivers License 

Chris Corey 

CMO Markethive 

Alan Zibluk Market Hive Founding Member