Fake

CoinMarketCap (CMC), a global cryptocurrency data provider platform, has introduced new indicators to screen out the amount of false transactions and inflated volumes in the digital currency market.

It seems using the names of celebrities has become a trend among scammers. Another fraudulent investment platform Bitcoin Pro uses fake endorsements from CNN anchor Jake Tapper.

While most of the world is in a lockdown due to the COVID-19 pandemic, many people have lost their jobs or sources of income. While searching for a way to improve the situation, it is rather easy to fall victim to a fraudulent scheme.

Recently, fake rumours spread that Harry and Meghan are becoming financially independent, and trading platform “Bitcoin Evolution” is helping them to achieve it. This scam adds on to other fraudulent activities that already took place during COVID-19.

Recently, a Russian based website claiming to be selling a vaccine for the Coronavirus was shut down. The website which was marketed on Twitter claimed they sell doses that can be used by at least three people to prevent catching the Coronavirus.

The UK Financial Conduct Authority (FCA) recently issued well-filtered recommendations to the public especially the investors not to participate in cryptocurrency investments related to Covid19 through an official website.

The prevalence of cryptocurrency has reached a whole new level with many users constantly searching for the latest information and news regarding the topic. Scammers on youtube are taking this as an opportunity to run fake live stream interviews with prominent names in the cryptocurrency space to garner large traffic to their youtube channels.

Scammers and fraudsters have taken advantage of the potential of the token and rolled out a phony initial coin offering (ICO) for Libra via microblogging and social networking service Twitter.

A suspect identified as Donald G. Blakstad from the United States of America is facing legal action by the agency responsible for implementing federal laws, Securities and Exchange Commission (SEC), for supposedly operating a fake cryptocurrency mining activity.