In December 2017, the Bitcoin community and South Korean authorities exposed a fake exchange known as BitKRX. By posing as a legitimate exchange and passing itself off as a branch of KRX, a large and reputable trading platform, it was able to ensnare innocent users.

AutoModerator has been summoned to explain the fake/false payment scam. The fake payment scam occurs when someone tries to trick you into thinking that you have received a legitimate payment when no such payment has been made. The most common method they use is sending you an email meant to look like a payment confirmation.

Here are four common Bitcoin phishing scams and how to avoid them. 1. Suspicious links and fake websites. The FBI Internet Crime Report (ICR) notes that in the past two years, nearly 600,000 people fell victim to phishing scams. In total, those people lost over $70.8 million.

Here’s one: reports of Bitcoin blackmail scams have taken a big jump in the last few weeks. The emails say they hacked into your computer and recorded you visiting adult websites. They threaten to distribute the video to your friends and family within hours, unless you pay into their Bitcoin account.