Glancing At Some Popular Cryptocurrency Scams In 2019 - PowerPoint PPT Presentation

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Glancing At Some Popular Cryptocurrency Scams In 2019


The popular cryptocurrency scams which happened in the year 2019 had resulted in much losses for the cryptocurrency exchanges like Binance, and its users. – PowerPoint PPT presentation

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Title: Glancing At Some Popular Cryptocurrency Scams In 2019

Crypto World At Your Finger Tips!
Glancing At Some Popular Cryptocurrency Scams In
Cryptocurrency is a pool of so many
terminologies, which is essential for every
crypto enthusiast to brush up knowledge about
them. Among these terminologies is forking.
Whenever there is a split in blockchain
technology, it has resulted in the spawning of
hard forks. Bitcoin is the best example to quote
  • As there were some loopholes found in the latter
    cryptocurrency, it became the need for a new
    updated version of this digital currency, in the
    form of Bitcoin Cash, and its other sibling hard
  • It is very important to know about what is a soft
    fork and a hard fork. Apart from gaining all
    about such knowledge, you must also be aware of
    scams that are possible in cryptocurrency.
  • Today, we will have a glance over some popular
    cryptocurrency scams in 2019. Here you will come
    to know the clever hackers easily got away with
    it. 2019 has been a lucky year for the
  • According to a report, users, crypto exchanges
    and investors have experienced theft of 4.26
    billion in January. The success of any crypto
    hacking becomes possible when the offenders are
    lucky enough to grab the opportunity to escape
    very easily.
  • This indicates that these perpetrators have no
    fear of law, which is why they are confident
    enough to practice the art of cryptocurrency
    theft from the users and to get themselves
    involved in money laundering.
  • After that, these fraudsters are smart to find
    the exit door and spend those currencies for
    their selfish motives.
XRP Theft From GateHub
  • This counts among the popular cryptocurrency
    scams in 2019. The scam happened in June when
    hackers smartly get away with XRP tokens from the
    users of GateHub in the same year.
  • Then came a statement from GateHub on June 6 that
    revealed about comprise about speculated 100 XRP
    Ledger wallets done by cybercriminals.
  • Investigations are still in progress by the
    company about the hacking activity that happened
    in June 2019. Contacts were being made to wallet
    holders. So far there has been a recovery of
    around 500K XRP having worth of 200K.
40 Million Stolen From Binance By Hackers
  • Binance ranks among the popular worldwide
    cryptocurrency exchanges, but in May 2019, it too
    had suffered a loss of 40 million. It feels
    surprised to know about the theft in such a
    renowned exchange like Binance.
  • The cybercriminals not only managed with stealing
    7K Bitcoin but also with API tokens and valid
    codes. According to Binance, hackers agreed for
    the accounts of high net worth. The well-known
    crypto exchange has declared in its statement to
    use SAFU (Self-Insurance Fund) to envelope user
Kraken Too Became Victim Of Hacking
  • Joining the list of popular cryptocurrency scams
    in 2019 is Kraken. It is a well-known platform
    for trading in top cryptocurrency, Bitcoin.
  • This popular trading exchange too had tasted the
    sour experience in the flash crash which led to
    the sudden downside of cryptocurrency price.
    According to research, hackers stole 1200 Bitcoin
    having worth 10 million.
Bitrue Experienced Hacking Of 4 million
  • After Kraken, Bitrue, a popular cryptocurrency
    exchange of Singapore too had experienced
    hacking, when in June 2019, 4.2 million in user
    assets were being stolen. The hacking activity
    became possible when perpetrators managed to foil
    the security system of Bitrue exchange.
  • A statement came from this cryptocurrency
    exchange regarding lost funds to be returned to
    its users and also to amend its security system.
    This comes as another example among the popular
    cryptocurrency scams in 2019.
Conclusion One of the worlds popular
cryptocurrency exchange. Cybercrimes are very
crucial and negative factors for any digital
technology including cryptocurrency. The only way
to combat these challenges is when crypto
exchanges work on their security measures with
necessary changes. Besides grasping knowledge
about topics like the difference between a soft
fork and hard fork or any other crypto term, it
is better to be aware of the scams in the crypto
world. Sources https//
Crypto news and articles
Exchange wallet listing
Market price analysis
Crypto discussion forum
ICO listing and rating
Crypto jobs marketplace
Tokens and coin listing
Airdrop and event listing
DApp listing review
ICO Launchpad
Crypto gaming platform
Blockchain tutorials and courses
For any further queries or clarifications please
contact at
- - info_at_cryptoknowmics
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