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The history of crypto-currency deception: closed exchanges, dead crypto-currencies and benches

Investors who earn in high-yield projects, perceive their closure as a common thing. But when it comes to the scams in the crypto currency environment, it causes bewilderment - the crypt has nothing to do with the HYIPs, how can it go insane from the distance? It turns out that cryptoeconomics is an interesting environment not only for us, but for scammers, and a variety of plums here are very often. In this article, we suggest recalling all loud and quiet skylights and dangers that have to do with crypto-currencies.

"Perspective" and stillborn coins

The trader works the old way, like the world, the principle - buy cheaper, sell more. As a rule, a coin is worth a penny at the start of its existence. When investors pay attention to it, its price is actively growing, but here lies the hitch. At the time of launch, it is not known what is waiting for this or that crypto currency - it can rise in price by 1000%, or it may just disappear. Many traders are taking enormous risks and buying unknown and not yet promising coins to get super profits. Sometimes this race at nice prices can lead to a loss of money.

Vivid examples of when a coin does not meet the expectations of investors, a lot. For example, not so long ago there was a ICO kriptovalyuty CoinDash. To many it seemed quite interesting, users have already reported how they will earn crazy profit percentages. But nobody saw the profit - as it turned out, the wallet for sending money had nothing to developers.
Unknown hackers hacked the site of the project and registered there their etherium address. As a result of this scam 7,4$ Million went to an unknown destination, and investors remained without tokens. Such a nuisance at the start has undermined the credibility of both the developers and the coin itself, so its future is uncertain.

And if ICO Everything is clear - here the risks always go off scale - then the coins that have already reached the stock exchange, can also show no growth in price, but just the opposite. As you know, the crypto currency exists around 800, but we have not heard about half of them. It so happened that most of the coins are stillborn - they never start on any of the exchanges or go on sale, but nobody is interested, so the price does not grow. The whole cemetery of the "dead" crypto currency can be found on the exchange YoBit, Which is uncompromisingly unrepresented and has no prospects kryptonovinki.


One of the most common ways to deceive the network is to create a pseudo-test currency. As with offline money, some coins may not be quite real, or, to put it bluntly, as frank fakes. There are a lot of such fakes - a tempting prospect to get on the level ground and not bear any responsibility for this, attracts more and more seekers of easy and not quite legal profit. Nevertheless, in a series of small and insignificant benches there were very loud "projects", some of them are still working today.

Perhaps you've heard of a coin called OneCoin, Since the promotion is very impressive. But do not rush to invest - in fact it is a dummy, which has neither source code nor prospects. Its founder Ruzha Ignatova, allegedly having a Harvard education, was convicted of falsifying her diploma and many EU countries have already begun investigations into fraud. This does not prevent Vankoin from working and collecting investments.

In fact, no one has ever seen the technical documentation of the OneCoin crypto currency, and all processes with its mining and life activity from users are hidden. Allegedly, the project managers themselves are mincing coins and kindly offer us to buy them. At the same time the crypt did not go to any stock exchange, but it has a course that is considered self-quoting.

We will not remember hundreds of cryptonyms, which were announced to us by the HYIP developers, but, alas, they synchronously crashed together with the project. I came to my bench and the coin The Billion Coin, From which many investors were expecting a boom. It's strange that in general someone was following it, because in fact it was a pyramid and it could easily be read between the lines. The creators of the fake claimed that they are a union of users, between which there is a certain "contract". In this case, the coin could be bought for a certain period and get a profit at its end.

A large distribution in the network and received a coin PayCoin, Which is still presented on many resources as real and is indicated by its quotation of the course. Moreover, the creator of the fake Joshu Garza even managed to drag it to some provincial exchange and into the popular multi-currency purse. Many investors have invested in PayCoin for a long time and were expecting a frenzied profit, but were amazed at Garza's acknowledgment that the coin is nothing but fraud. In addition, Josh had a cloud-mining service, which was also very popular, but was nothing else but a financial pyramid.

Exchange crypto currency: scams and fraud with coins

Crypto currency is becoming more and more firmly in our lives and gives an opportunity to earn anyone who wants to. It is not at all surprising that recently, as mushrooms after the rain, there are crypto-exchange exchanges, but this does not mean that the trader and the investor have a lot of room for profit. Unfortunately, many trading platforms, for the sake of personal enrichment, can pin their users and even go into a frank scam.

The loudest bench in the history of the Crypto-currency was the closure of the largest exchange Mt.Gox... In 2011, an attacker hacked access and appropriated 850 BTC, which at that time reached about 000$ Million As a result of this incident, users were left without their money, the exchange declared itself bankrupt, and the bitcoine rate fell very noticeably. It is not known for certain whether the same hacker or the heads of the exchange just invented such a legend and themselves took possession of the colossal sum of bitcoins - the fact remains.

The stock exchange is still not clear Cryptsy... In 2016, users began to massively complain about delays in payments and constant technical work, to which the organizers of the exchange dumbfounded with a public admission that, it turns out, two years ago, hackers robbed the exchange for 13000 BTC and 300 LTC. The leaders of the trading platform allegedly hid this fact in order to avoid panic and outflow of funds and even announced a reward of 000$ To someone who will provide information about the mythical hacker.

Of course, no one believed in this story and for the majority of deceived users Cryptsy is a real scam. Finally, the reputation of its creator, wet the reputation, disappearing at last with 5$ Million, which "hackers" could not be smirked.

But not all exchanges after robberies are closed - for example, Bitfinex Acted quite decently. Many heard that in 2016 the stock exchange suffered from breaking, which led to the loss of 65 $ million in the crypto currency. The organizers of the trading platform found a way out by issuing BFX debt tokens, owned by users who suffered from the actions of hackers. After eight months all the debts of the exchange were paid, and she successfully continued work. Of course, things did not go as smoothly as one would like and most traders traded in panic for 10% of its value, hoping to get something. But nevertheless, the fault of the exchange itself is not there and all debts have been paid fairly.

Recently, there was a lot of talk about the future benches of a large stock exchange Poloniex. There are opinions, certainly not justified, that the exchange actively participates in the auction, and also organizes pampas. It is very likely that operations with real crypto currency are not made, and trade is only formally - while traders actively trade, all funds are out of stock, not taking into account the small amount necessary for the conclusions. It is possible that the stock exchange has long made ends meet, the result of which are long-term verification, constant technical work during pampas and other suspicious phenomena. Perhaps this is just a duck, released by competitors, and maybe there is a grain of truth in these unfounded theories.

How to survive in the world криптовалют and not to lose the money?

As you can see, it's very easy to get to deception and losses with crypto-currencies, so a modern investor needs to be very scrupulous in his acquisitions. And it is important not only what you are going to buy, but also where the operations with digital money will take place. We offer you a selection of rules that will reduce the risks, but of course, it is simply impossible to insure your funds for 100%.

  • Carefully learn the crypto currency you are going to trade. Explore the in-depth, technical aspects of its existence and the opinions of other users.
  • Diversify funds between several exchanges, do not use only one of them. It is desirable to have at least three trading floors in your arsenal.
  • Do not pursue a megaprofit and do not buy any rubbish in the hope that they will once "shoot." It is likely that this will never happen.
  • If you are new to crypto invests, you should not let your entire bank into this new business for you. Do not abandon your previous sources of income and add the crypto currency to your portfolio as an experimental investment tool. In the future, if the investment of funds will bring income, the share of money allocated to the crypt can be increased.

Crypto currency for many seems an easy way to earn money and, unfortunately, as a magnet, attracts all kinds of scammers. Be vigilant, invest with intelligence and sober intelligence, and you will not fall for their mercenary fishing rod.

1 review on "History of the crypto currency hype: closed exchanges, dead crypto-currencies and scams"

  1. Avatar photo Victor:

    Faced an interesting situation on one of the exchanges crypto-currency. You bet on the purchase, in a second there is a bet exceeding yours on 0.0001 for it on 0.0055 and they started to skip rates. Then the bets stopped, I'm somewhere on the 5 or 8 position. Again I raise my bet. Only increased, in a second there is a rate exceeding my on 0.0001 for it on 0.0055. And so always when placing bets. Is this another nadalovo? Before that, I won a couple of dollars on the difference between buying and selling.