Excellent post. Must read for every greedy human expecting way too much from Bitcoin.
There is also some websites that list all the scam bitcoin services.
Topic: Academic analysis of bitcoin scams from SMU (Read 455 times)
http://lyle.smu.edu/~tylerm/fc15.pdf
Quote
Abstract
We present the first empirical analysis of Bitcoin-based scams: oper-
ations established with fraudulent intent. By amalgamating reports gathered by
voluntary vigilantes and tracked in online forums, we identify 192 scams and cat-
egorize them into four groups: Ponzi schemes, mining scams, scam wallets and
fraudulent exchanges. In 21% of the cases, we also found the associated Bitcoin
addresses, which enables us to track payments into and out of the scams. We find
that at least $11 million has been contributed to the scams from 13 000 distinct
victims. Furthermore, we present evidence that the most successful scams depend
on large contributions from a very small number of victims. Finally, we discuss
ways in which the scams could be countered.
We present the first empirical analysis of Bitcoin-based scams: oper-
ations established with fraudulent intent. By amalgamating reports gathered by
voluntary vigilantes and tracked in online forums, we identify 192 scams and cat-
egorize them into four groups: Ponzi schemes, mining scams, scam wallets and
fraudulent exchanges. In 21% of the cases, we also found the associated Bitcoin
addresses, which enables us to track payments into and out of the scams. We find
that at least $11 million has been contributed to the scams from 13 000 distinct
victims. Furthermore, we present evidence that the most successful scams depend
on large contributions from a very small number of victims. Finally, we discuss
ways in which the scams could be countered.
Seems like it might be important for people to read.
Jump to: