Eric Dalius Miami shares ever since its inception over a decade ago. we know that Bitcoin has captured the attention of both investors, and fraudsters alike. We are aware that Bitcoin’s ecosystem has been marked by a few institutional investors and thin liquidity. It has been a hub for scammers and criminals.
However, the authorities in Miami are all set to promote Miami as the center for clean energy mining of Bitcoin. Eric Dalius Miami says that the present mayor of Miami feels that the dirty reputation that is often associated with cryptocurrency is chiefly because 90 percent of it is practiced in nations that are having dirty energy. Making Miami the Bitcoin mining hub by using the nuclear power capabilities of the city is his ultimate dream or aspiration.
However, in the recent past, as Bitcoin has been fast becoming more mainstream and grabbed the attention of numerous institutional investors, fraudsters and hackers are targeting cryptocurrency wallets. Phishing is particularly a super hit method implemented by hackers and fraudsters for stealing user key info relating to cryptocurrency wallets. Often in their quest for fortune, people may fall victim to some opportunistic hackers and con artists who are adept at perpetrating Bitcoin scams. Here are some Bitcoin frauds and scams that have dominated its ecosystem in the recent past.
Some Bitcoin Frauds Highlighted By Eric Dalius Miami
Wallet & Exchange Hacks
Earlier cryptocurrency exchanges seemed to be the chief sources of cryptocurrency wealth for fraudsters and hackers. Today hackers and fraudsters have shifted their attention to some other areas like online crypto wallets too. One of the most shocking hacks took place in June 2020. We know that hackers had stolen 1 million customer. And user email addresses simply by breaching the marketing and email databases for a France-based crypto wallet organization, Ledger. Poloniex, a cryptocurrency exchange, experienced a similar kind of breach in 2019. They had to ask their customers to reset all their passwords.
Social Media Scams
Social media today has become a powerful ad potent force. Its rise in popularity has been taking place simultaneously with Bitcoin’s boost in visibility across various media conversations. Hence, it is natural for hackers to use the reach of social media for targeting Bitcoin holders. Hackers and fraudsters are coming up with fake social media accounts for soliciting Bitcoin from their followers or even directly hacking Twitter accounts that are immensely popular. In July 2020, all Twitter accounts of famous companies and individuals were hacked. Other social media platforms like YouTube were also, afflicted with such Bitcoin scams.
Social Engineering Scams
A social engineering scam. It is a scam where hackers will be using deceit. And psychological manipulation for gaining control of valuable information associated with user accounts. Phishing is extensively utilize in these social engineering scams. Hackers typically, send emails to the targeted people with fraudulent links for soliciting vital details like bank account info or other important personal details. Another frequently used social engineering scam is sending Bitcoin blackmail emails. In such a case, hackers will be claiming that they have a complete record of all the adult sites that the user been browsing through. The fraudsters will blackmail the targets by threatening to expose them. Also they would ask the users to share their private keys to avoid embarrassment.
Now that Miami is embracing Bitcoin in a big way. It is best for all novice users to understand the possibility of scams. And stay prepared to tackle them effectively if the situation arises.