bitconnect is one of the biggest projects that came out in 2017, many people took the opportunity from the project, those who joined at the beginning might benefit, but there were many losses due to joining at the end.
news from my country many people who stopped working and joined bitconect, of course this is very sad hopefully projects like this will not happen again.
Topic: The biggest crypto fraud of all time - page 2. (Read 639 times)
I always think that bitconnect scam was the biggest in crypto space until i heard about one coin, a Ponzi scheme that defraud investors approximately $4 billion around the globe and one coin ceo have been missing since 2017, we really need to be very careful where w invest our hard earned cash, when a offer is too good to be true there is always more that met the eye
I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol,
I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol,
Indeed, it is still the most popular scam case because it is also the time when investors became more cautious and wary of other projects. It did a number on the reputation of many ICOs and many projects did lose potential investors. It is really sad to see that whether or not a crypto really do technically use blockchain, once the scam is confirmed, many mouths will blame it.
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Even the best of concept of a project could be a fraud. They might just invested their time thinking on what to write. It isn't that hard to do it if you think about it. You're just gonna gather a team to have a brainstorm on what project should be written in the WP or even in an ANN thread just to get the interest of the investors but then you all decided to just "let's just take their money".
So from that, people should also look into the history of the team itself. I am not sure if such sites like LinkedIn/Twitter could buy followers to make each members look like a legitimate one.
its best not to invest on projects instead unless they have made it to the exchange without having funds. we find a hard time distinguishing which project is a possible scam because even when they were on the market for so long they still didn't make it and did an exit scam. the only that matters right now are the projects that currently rank on the coinmarketcap. these are the coins that hold on in this long crypto winter market and now that they'd made it, i guess its where we should be investing. not those tokens that wasn't even listed.
i stayed on the forum the whole time, i didn't heard of the one coin here which is why i'm surprise it scammed $4B. obviously people who practice to only invest on projects announced here are not victim of this one coin.
I wouldn't necessarily mark anything that claims to be better at some things than Bitcoin with a red flag, but I'd look more into the specifics of the implementation of whatever improvement the coin or token in question has over Bitcoin. Competition's great in any area because it forces everyone to further improve existing technologies or get left in the dust. I do agree that a ton of centralized coins are risky to invest in for a multitude of reasons, however.
A majority of these large cryptocurrency-related scams also attract investors that have no idea what cryptocurrency really is, but see the buzzwords like 'blockchain' and the large potential returns and get hooked. It's mostly these types of people that get reeled into schemes like Bitconnect or Onecoin, and it's also unfortunate that a lot of these schemes spend tons of money on falsely advertising themselves before leaving.
A majority of these large cryptocurrency-related scams also attract investors that have no idea what cryptocurrency really is, but see the buzzwords like 'blockchain' and the large potential returns and get hooked. It's mostly these types of people that get reeled into schemes like Bitconnect or Onecoin, and it's also unfortunate that a lot of these schemes spend tons of money on falsely advertising themselves before leaving.
I always think that bitconnect scam was the biggest in crypto space until i heard about one coin, a Ponzi scheme that defraud investors approximately $4 billion around the globe and one coin ceo have been missing since 2017, we really need to be very careful where w invest our hard earned cash, when a offer is too good to be true there is always more that met the eye
I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol,
I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol,
I wouldn't call one coin a crypto scam because it didn't have anything to do with crypto. Even all the crypto people ignored it right away as just another irrelevant scam. I am amazed how long did it go as i thought that everyone knew how obvious of a scam it was.
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Even the best of concept of a project could be a fraud. They might just invested their time thinking on what to write. It isn't that hard to do it if you think about it. You're just gonna gather a team to have a brainstorm on what project should be written in the WP or even in an ANN thread just to get the interest of the investors but then you all decided to just "let's just take their money".
So from that, people should also look into the history of the team itself. I am not sure if such sites like LinkedIn/Twitter could buy followers to make each members look like a legitimate one.
Any coin can be a scam at the end of the day, developer can still leave the project after 10 years of working with it and this is why we need to take profit always and don’t be too greedy on holding with your coins. There’s a lot of scam projects before, whether its big or not it can still affect the market, it will be hard to trust the market if you’re one of those victims. Biggest fraud is Limiting yourself from knowing better, cryptocurrency is not a safe investment well the most volatile price movements.
Totally agree with this. At the end of the day a developer, a certain project they can pull out their progress anytime they want it to. So as long as we can gather information, do not ever take it for granted as it stands as a tool of our foundation to trust those project. Words are deceiving so before participating try to look for something more behind than only in the appearance.
You didn't mention the name of the scam project? Which is it?
I have heard a lot about bitconnect and some of my friends lose a lot of money with it.
But what is this one you are talking about? Maybe we could see more if you tell it.
There are a lot of scams out there by now and most even look like legitimate ones which takes a year for the robbery to be fruitful.
Maybe we could warn more if we know what we are getting into.
I have heard a lot about bitconnect and some of my friends lose a lot of money with it.
But what is this one you are talking about? Maybe we could see more if you tell it.
There are a lot of scams out there by now and most even look like legitimate ones which takes a year for the robbery to be fruitful.
Maybe we could warn more if we know what we are getting into.
I also hate centralized money, no coins are mined, no blockchain, nothing, all coins claiming to be bitcoin are all red flags and die.
I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol
You can always fool people who have no idea about the crypto market and anyone who promises a guaranteed return is a sure shot scam and there are more than $40 billion been taken off the market by these scammers in this period of time through different scams including ponzi schemes and ICO frauds and i wish every scammers will be caught in the future and given the right sentence and the investors get their money refunded. 
Actually starts from our own carelessness. Scam projects will not work without us, as market players. In fact, Bitcoinnect had from the beginning been a sign that their project was indicated to be a scam, and to my surprise there were no accusations periodically at that time, so the CEO fled until everyone realized it. it all started with us, because it was too careless and greedy. indeed the ponzi business is very tempting, making someone like being hit by magic. When this is fully I started leaving a project that gave sweet words too much, and I switched that Bitcoin is the main thing of all.
Bitconnect had just been famous all over the social media and here in this forum.
But you are correct, there are more of them out there which we just don't see if we keep our eyes just here.
They don't even make an announcement here and will do another way to sell it to people.
Telegram, Facebook and Twitter. They can use those websites to scatter the news without those who want to reveal them knowing any small thing about what will happen.
But you are correct, there are more of them out there which we just don't see if we keep our eyes just here.
They don't even make an announcement here and will do another way to sell it to people.
Telegram, Facebook and Twitter. They can use those websites to scatter the news without those who want to reveal them knowing any small thing about what will happen.
When investing somewhere, we must carefully review and find out the risks that may occur. We must invest in cash carefully to avoid fraud. 
I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol
You can always fool people who have no idea about the crypto market and anyone who promises a guaranteed return is a sure shot scam and there are more than $40 billion been taken off the market by these scammers in this period of time through different scams including ponzi schemes and ICO frauds and i wish every scammers will be caught in the future and given the right sentence and the investors get their money refunded. 
Bitcoin will always be the most important investment choice for investors in the cryptocurrency market. But in my opinion some altcoins also have good prospects because some altcoins show the development of products that can be a trigger for adoption.
That's right, but investors always prioritize bitcoin over altcoin in their investments, even though there are some altcoins that are worth investing in because of the fact that the products are really working.Nowadays, it is truly difficult to trust the market because you can't guarantee that your funds will be safe from scam projects. I experienced getting scammed before, I did not blame anything or anyone because I know that I messed up on making decision regarding on where I can invest my money. I was easily tricked by their sweet lies and I don't even tried to search any details because they sound too sweet that makes me think that my investment is going to be worthy, it turns out that it is not. About that, this kind of incident should be a lesson to any of us because we can't control or even stop people if being greedy hit them. We need to be a good observer so that our funds will be safe and secured from those kind of people.
You are not the only person who is a victim, there are many others who are victims of fraud in the crypto world, and even people who have long known the nature and character of cryptocurrency can be scammed victims. Cases of fraud like these are very difficult to avoid, because there are so many projects that carry a good concept and convince investors, but in the end fraud. The crypto world is a commodity that is very difficult to predict so it is very risky, so invest in quality, not with quantity. 
Bitcoin will always be the most important investment choice for investors in the cryptocurrency market. But in my opinion some altcoins also have good prospects because some altcoins show the development of products that can be a trigger for adoption.
That's right, but investors always prioritize bitcoin over altcoin in their investments, even though there are some altcoins that are worth investing in because of the fact that the products are really working. 
I always think that bitconnect scam was the biggest in crypto space until i heard about one coin, a Ponzi scheme that defraud investors approximately $4 billion around the globe and one coin ceo have been missing since 2017, we really need to be very careful where w invest our hard earned cash, when a offer is too good to be true there is always more that met the eye
I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol,
I see a lot of altcoin that end with scam, not only which have blockchain but real altcoin too. Make investment either it have product or maybe not must be careful. Especially if pure ponzi scheme like what they name a coin but actually not a coin. There is a lot of investment other than onecoin that purely ponzi scheme, and mostly who jump in that business is ponzi player before. I remember people calling one coin the bitcoin killer, lol 😆 oh i hate centralized coins, the fact is there was no coin mined, no blockchain, nothing, I have never seen anything like it, any coin that claims to kill bitcoin is red flag lol,
For me to be big or not there is a fraud in cryptocurrency, it is very detrimental and makes us feel that what we are doing is futile and think that it is better not to put money in the project and others. In addition to making people participating in a project feel disadvantaged by fraud, it also makes other projects difficult to obtain funding or difficult to attract investors to invest in it.
there is more besides bitconnect, that is Centra (CTR) which is horrendous throughout the crypto universe, its co-founder was arrested for fraud during the ICO.
https://www.sec.gov/news/press-release/2018-53
after the news appeared, then the price of the coin immediately fell more than 80% in a day.
everything is full of fraud, scams, ponzi from then until now.
https://www.sec.gov/news/press-release/2018-53
after the news appeared, then the price of the coin immediately fell more than 80% in a day.
everything is full of fraud, scams, ponzi from then until now.
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