The "temporary" suspension is due to "irregular behaviour" and a "possible exploit," according to BNB Chain on [Twitter](https://twitter.com/BNBCHAIN/status/1578148078636650496). The team stated that all systems are now isolated, and they are examining the possible vulnerability promptly. It also asserted that all monies are secure. They had also halted all BNB deposits and withdrawals on the exchange due to "maintenance" on the Chain. 

However, Twitter user and DeFi creator "foobar" had a [different take](https://twitter.com/0xfoobar/status/1578140914283065344) on the matter. He said an attacker took 2 million BNB from "someone" on the network, which is worth around $600 million.

## Evidence of Binance hack

Foobar continued by saying that the attacker is dumping money into liquidity pools and using any bridge to go to safer chains. A snapshot from a block explorer showed the suspect had $532 million in crypto scattered over several EVM-compatible chains and L2s, according to the user. These include $421,000,000 on the BNB (79%) and another $53 million on Ethereum (10%).

The address's total assets are $421 million, matching the foobar snapshot. Which is supported by BNB data, which shows precisely 1,020,094 BNB parked at the same spot, valued at $288 million. 

According to the explorer, the address was previously detected as part of the "BSC bridge attack," as [revealed](https://twitter.com/AnciliaInc/status/1578155138857914368) by the Web 3 cybersecurity organisation Ancilia. Tether, the creator of the world's largest stablecoin, has already [blocked](https://twitter.com/0xfoobar/status/1578144109206073344) the account.

## Can funds be recovered from the Binance hack? 

[BNB](/news/article/bnb-chain-security-system) had recently [verified](https://twitter.com/BNBCHAIN/status/1578163230790520832) that about $70 to $80 million in assets vanished from the platform before being suspended. Another $7 million of the escaped monies became blocked due to "the community" and [Binance's](/news/article/binance-bridge) "internal and external security partners." 

The business also acknowledged several organisations for their assistance, including CertiK, Ankr, and Coinbase Cloud.



$600mil Binance hack leads to BSC pause

The use of cryptocurrency trading bots has proliferated widely by experienced and novice crypto traders. Like a trading bot on a traditional financial market, crypto trading bots are used to execute potentially profitable trades automatically.

As these platforms are so common in the cryptocurrency industry, many cryptocurrency trading bot scams exist. However, numerous websites have verified that the one we are discussing today: The Bitcoin Motion trading bot, is a scam you must avoid at all costs. 

The scam works by luring people with promises of easy returns on Bitcoin for a simple fee of $250. They claim that investors have a dedicated account manager on call that they can reach and can withdraw at any time. This was proven to be fake. Luckily, helpful websites exist created by teams of people who care about informing the general public about crypto trading bot scams. 

One way to find out about scam crypto trading bots like Bitcoin Motion is [Scam Crypto Robots](https://scamcryptorobots.com/bitcoin-motion-review-scam/). According to this website, Bitcoin Motion trading bot users reported being unable to withdraw their money from a broker entitled “Coin Central Invest”, a registered business in Sophia, Bulgaria. Shady doesn’t even begin to describe it. 

This Bitcoin Motion scam has even gone so far as to use the names of celebrities like Elon Musk and create fake videos of him “endorsing” it. 

According to the Scam Crypto Bots site, all five of the Bitcoin Motion websites it found were discovered to be fake scams. 

However, after all this, it begs the question…

## Do real crypto trading bots exist? 

There are multiple ways to recognize a fake or scam crypto trading bot. 

1. They promise guaranteed returns
Markets are unpredictable. Therefore, how can anyone promise guaranteed returns? Advertising such promises are illegal in traditional financial markets.

2. Free
Rarely is a proper trading algorithm going to be free. The best one can hope for is a simulation or demo from a real trusted brokerage. 

3. Disclosure 
Who are the people behind the company? Who developed the bot? Is the info available on their software? Do they have any documentation or whitepaper of their procedure? 

Bitcoin Motion has been proven to be a scam and is re-used on a white-label basis by multiple shady agencies. Be aware, and protect your money. 

Be very careful when looking to trade cryptocurrency online. Reliable blue chip exchanges like [Coinbase](https://www.coinbase.com) are secure and are your best bet when investing in crypto. Real crypto trading bots do exist, such as Pionex. Such companies undergo heavy scrutiny, and a good way is to read the many reviews online. 

The basic steps you can take to protect yourself from crypto fraud are first to ensure the following:

1. Is my wallet protected?
Is your wallet legitimate in the first place? Also, if any company or individual asks for your wallet key to participate in an investment opportunity, it is probably a scam. Never give away your private crypto wallet key.

2. Watch your wallet
Makes sure you are constantly watching for strange transactions or security alerts from your wallet. If it’s your first time using a crypto wallet, only transfer a small amount of money as a test. 

3. Don’t rush! 
Take your time learning the world of crypto and read up on the legitimacy of any project you are interested in. Do your due diligence, and never believe anyone promising free money.

Ultimately, if something looks shady in the cryptocurrency world, it probably is. 

At best, the Bitcoin motion scam will take your $250. At worst, scammers will steal your financial records or identity. 



Exploring the Bitcoin Motion Trading Bot Scam

## Comments about theft from Wintermute CEO

According to a series of [tweets](https://twitter.com/EvgenyGaevoy/status/1572134271011225601) by Wintermute's founder and CEO, Evgeny Gaevoy, the attack allegedly targeted the company's decentralised financing (DeFi) operations. Gaevoy promised clients that the company is still "solvent with twice over" the $160 million taken in the residual stock.

As per blockchain research firm Elliptic, these services are "uniquely vulnerable to hacking" due to their open source code, vast pools of assets, and fast growth, which may have resulted in a gap in security best practices in some circumstances.

## Details of Wintermute scam

A cryptocurrency wallet address labelled as belonging to the Wintermute exploiter on blockchain explorer platform Etherscan revealed a series of transactions earlier on Tuesday, [one of which](https://etherscan.io/tx/0xd7bf7b67e0d0095b7eb1813a4a60c129b45694374bf996f9ecc249d07efbcd02) involved transferring 112 million native tokens of Curve's 3pool, a platform for swapping stablecoins, from a null address to the hacker.

The token exchange consisted of $114.4 million USDT, $61.4 million USDC, and $23.6 million DAI.

Based on research released last month by blockchain monitoring firm Chainalysis, a startling $1.9 billion in bitcoin was stolen in hacks of various platforms in the first seven months of 2022, a 60% rise from the same time the previous year. 

Some of the most [significant crypto breaches](https://www.cnn.com/2022/08/16/tech/crypto-hack-rise-2022?cid=external-feeds_iluminar_msn) this year have occurred on DeFi protocols, including a $625 million attack in March on a gaming-focused blockchain network that powers the popular video game [Axie Infinity](/news/article/axie-infinity-price). Some of these thefts, notably the Axie affair, have now been [linked](https://www.cnn.com/2022/04/14/politics/fbi-north-korea-hackers-crypto/index.html?cid=external-feeds_iluminar_msn) to North Korean hackers.

## Will Wintermute be able to pay lenders?

Wintermute, which Gaevoy started in 2017, is a "leading" digital asset market maker. It has offered liquidity on over 50 different exchanges and cryptocurrency platforms. The company informed users that service disruptions might occur over the following few days.

Wintermute is the [highest borrower](https://app.clearpool.finance/pool/0xCb288b6d30738db7E3998159d192615769794B5b?market=mainnet) on the DeFi liquidity marketplace Clearpool, with $22.2 million in USDC outstanding. According to Andrew Thurman, content lead at Nansen, it also has a $92.1 million USDT [loan](https://app.truefi.io/borrowers/0xA1614eC01d13E04522ED0b085C7a178ED9E99bc9) with TrueFi. According to the platform's website, the TrueFi loan will mature on October 15.

Gaevoy concluded his tweet by stating that Wintermute is solvent but issued lenders that they can also recall their loans if they wish. 




Wintermute victim of $160 million scam

An eastern European hacktivist organisation claims to have hacked every individual passport in Belarus, including its despotic dictator, Alexander Lukashenko, who refers to himself as the "last tyrant of Europe." Following the alleged data theft last summer, the Belarusian Cyber Partisans (BCP) minted many of the country's citisens passports as NFTs, including Lukashenko's. They listed them for sale on the crypto marketplace OpenSea earlier this week.

The NFT hack group is said to be made up of unknown Belarusian IT specialists who have launched a digital war on the Lukashenko administration, which they consider corrupt and illegitimate.

Lukashenko is a divisive person who has been in power in Belarus since the country's founding in 1994. Despite being elected on the promise of eradicating corruption, he has been accused of "rigging elections, torturing critics, and detaining and assaulting protestors" in the past by organisations such as the Organized Crime and Corruption Reporting Project.

The hacktivists claim to be fiercely opposed to what they perceive to be a corrupt dictatorship led by Lukashenko, who has also irritated the group by supporting Russia's invasion of Ukraine.

Through this [NFT](/news/article/what-is-timeless-crypto-nft) hack, the Belarusian Cyber Partisans also indicated that they wanted to sell NFTs containing the passport information of additional government officials close to Lukashenko.

"We also provide passports of his closest friends and traitors to the peoples of #Belarus and #Ukraine." "All funds will be used to support our work in targeting bloodthirsty regimes in #minsk and #moscow," the group wrote.

## OpenSea took down the offerings made by the NFT hacks

OpenSea took down the offers the same day they went up, later notifying [Gizmodo](https://www.gizmodo.com.au/2022/09/opensea-boots-hackers-for-claiming-to-mint-nfts-of-belarusian-dictators-stolen-passport/) that the crypto assets violated its rules on "doxxing." According to a business spokesperson:

"OpenSea's Terms of Service prohibit Doxxing and exposing personal information about another individual without their knowledge. The site enforces its policy in various methods, including blocking purchasing and trading on infringing content, delisting, and, in certain cases, banning accounts, as was the case in this case."



NFT hackers sell stolen passports on OpenSea

The [crypto market is growing](/news/tag/bull market) daily, and more brokerages are emerging to handle crypto assets. One such brokerage which is looking to leave a mark is [BC Bitcoin](https://www.bcbitcoin.com/). It is a European-based platform which launched in 2017. 

It has limited options for fiat currencies. However, you can buy or sell a wide range of cryptos through the platform. It has not attracted much attention globally as yet. That’s why investors can be sceptical about its legitimacy. 

You can decide by evaluating the following features in this thorough BC Bitcoin review!

## Supported fiat currencies and cryptos

Currently, the platform offers its services to customers in Europe and UK. It accepts EUR and GBP deposits. However, you will not be able to buy or sell using any other fiat currency like USD, CAD, or AUD.

However, it allows you to deal with numerous cryptos. Over 180 coins and tokens have been listed on the exchange, including all the major coins like [BTC](/coins/btc), ETH, LTC, SOL, DOGE, etc.  

## BC Bitcoin trading fees

Using its services will cost you around 1% to 5% of the transaction amount. You can calculate the trading fees through the Buy Coin tab before the transaction. All you have to do is to enter the amount of crypto you want to buy/sell and choose your fiat currency.  

## Payment methods

In terms of payment options, it can be an impressive brokerage. It offers an array of payment methods that allow you to use its services efficiently. These options include credit and debit cards, faster payments, BACS, and instant SEPA. 

## Transaction speed

It can instantly transfer cryptocurrencies as it usually takes 5-10 minutes. Currently, the firm processes these transactions in one to two business days.  

## Security and regulations

To ensure the security of transactions, it follows a formidable verification process. So, if you want to use this service, you must comply with all the KYC requirements. You must provide your personal and financial details so BC Bitcoin can verify them. 
The exchange follows Lithuanian regulations as it is registered in this country. However, the UK’s FCA or any other European authority have not regulated the firm.   

## User experience

It offers you an excellent user experience. The platform guides you through the entire transaction procedure, which makes it easy to use. Moreover, it provides 24/7 customer support via different channels, including live chat, email, and phone. 

## Bottom Line

BC Bitcoin can be a viable crypto asset brokerage option in Europe. But it would not be the ideal choice in other parts of the world. Though it allows secure trading with over 180 coins, it only supports EUR and GBP fiat currencies. Moreover, you cannot get live insights as there is no price chart. Another dicey thing is that the UK’s FCA does not regulate it. 

On the other hand, BC Bitcoin’s trading fees and speed are not quite optimal. Various other options provide better speed with lower fees. 
 



BC Bitcoin review

According to a series of letters sent on Tuesday morning, the 30th of August 2022, House Committee on Oversight and Reform requested information and documents from four agencies and five digital asset exchanges. [Coinbase](https://www.cnbc.com/quotes/COIN), FTX, Binance.US, Kraken, and KuCoin were among the parties contacted about what they are doing to protect consumers from scams and combat cryptocurrency-related fraud.
 
The letters request that government authorities and cryptocurrency exchanges respond by the 12th of September with details regarding their efforts to protect customers. According to the committee, the respondents' feedback will be utilised to develop legislative solutions.
 
The letters specifically request that the exchanges produce documents dating back to the 1st of January 2009. To demonstrate efforts to combat crypto scams and fraud, as well as efforts to identify, investigate, and remove or flag potentially fraudulent digital assets or accounts, as well as discussions about "whether to adopt more stringent policies.
 
In one letter to Sam Bankman-Fried, CEO and creator of FTX, the committee states that although some exchanges evaluate cryptocurrencies before listing them, others allow digital assets to sign up with little or no verification.
 
According to FTC analysis, more than $1 billion in cryptocurrency has been lost to fraud since 2021.
 
## Congress looks at crypto schemes developed by companies

Chainalysis, a blockchain analytics firm, discovered that [37% of crypto scam money](https://www.cnbc.com/2022/08/30/coinbase-ftx-binance-get-inquiries-from-congress-on-crypto-scams.html?__source=google%7Ceditorspicks%7C&par=google#:~:text=Blockchain%20analytics%20firm%20Chainalysis%20found,then%20vanishing%20with%20the%20funds.) last year went to "rug pulls". A rug pull is when someone lists a token on an exchange and invests in it to increase the price and market demand before selling the position at a premium and disappearing with the proceeds.

Binance US, which received an [investigation](https://www.reuters.com/legal/litigation/new-binance-class-action-likely-clears-one-hurdle-faces-plenty-others-2022-06-14/) from the committee on Tuesday, has been charged in a class action complaint with deceiving customers about the safety of investing in [terraUSD](/news/article/terra-usd) (UST) and its sister token, Luna.

The terms and conditions of the investor-crypto exchange agreement also differ, which needs to be standardised.
Agencies will continue infighting and cannot successfully implement consumer and investor safeguards relating to cryptocurrencies and the exchanges on which they are traded unless clear definitions and advice are provided. 






Congress investigates crypto firms scam protection

Innovations in blockchain technology are constantly evolving in the DeFi world. Now, there are many projects inciting investors’ interest in DeFi. But unfortunately, it is also being used for many illicit activities. Some of these projects are based on Ponzi schemes or other [crypto scams](/news/tag/scam), making some investors sceptical about their legitimacy.

[HyperFund](https://thehyperverse.net/) is one such infamous project which is controversial for using multi-level marketing. This platform claims to be a virtual Metaverse having its own currency and ecosystem. However, it seems to run a Ponzi scheme that promises over 400% ROI. Let’s find out what exactly HyperVerse is and what it offers!

## What is HyperVerse or HyperFund?

HyperFund, now known as HyperVerse, is a virtual galaxy with multiple planets. According to the website, it covers the themes of time travelling and alien creatures, having a futuristic setting in its game. You can also explore and participate in different activities on this Metaverse as voyagers.

Its [whitepaper](https://thehyperverse.net/whitepaper.pdf) suggests that it is a decentralised autonomous platform that offers its currency, HVT. Users can indulge in trading, play games, or socialise through V-DAO. 

## What makes HyperFund doubtful?

Here are some of the reasons why it sounds dubious:

•	Its affiliate program promises a massive ROI of 300% if you continue to contribute.

•	Many verified HyperFund reviews suggest that the company runs on a Ponzi scheme. 

•	Its website does not provide much information about the firm’s owners. 

•	The United Kingdom’s Financial Conduct Authority (FCA) has not registered the company and has directed investors to beware of this unauthorised firm. 

•	The company is a part of New Zealand’s list of scams maintained by the Financial Markets Authority (FMA).

•	As per the information available on the website, it is unclear what services it provides as a DeFi platform. 

•	Authorities in Guernsey also recognised it to be a controversial firm. 

## Is HyperFund a scam?

The platform runs a membership reward program. Previously, it was membership 1.0 that offered up to 300% profits in 20 months of investing. However, as the platform has upgraded to HyperVerse, it has introduced Membership 2.0. 

This reward program promises 4x rewards. If you invest 300HU, the platform claims to reward you 1200HU. Meanwhile, it also pledges 0.3% daily rewards. And to be part of this reward program, you at least need to invest 125 HU. Moreover, users can earn further rewards when they refer the platform to others.

These profits sound too good to be true. The reviews from the members of this reward program suggest that the company is a scam. Most users complained about not receiving any revenue even after months of investment. 

Furthermore, it has been recognised as a scam by the financial authorities of the UK, New Zealand, and Guernsey. 

Therefore, HyperFund checks most of the boxes for a Ponzi scheme. 

## Final take

HyperFund/HyperVerse is a scam as it is running a Ponzi scheme according to various sources. It pledges huge profits of up to 400% through its affiliate and referral program. However, the users have reported that the company is not providing any rewards as revenue. Several financial authorities have already recognised it as a scam.

Be warned and beware!



HyperFund review: is HyperFund a Ponzi scheme?

## Chainalysis crypto scam report

According to a Chainalysis report released on Tuesday 16 August 2022, the research suggests that total crypto scam revenue is presently resting at $1.6 billion, a [65% decrease from the prior year period](https://blog.chainalysis.com/reports/crypto-crime-midyear-update-2022/), which appears correlated to the market average of falling cryptocurrency prices. 

The report points out that speculative investment opportunities and outsized profits appeal most to victims during bull markets and that traders more likely to fall for crypto scams. Bull markets also have a larger percentage of new, novice crypto investors who are more vulnerable to scams. 

The numbers in the report are admittedly biased in the report because of the comparably massive PlusToken and Finiko cases in 2021, which generated $3.5 billion in total scam income. According to reports, the most significant fraud case of 2022 has only garnered $273 million to the cannabis investing portal JuicyFields.io, which has locked investors out of their accounts on its cannabis-focused "e-growing" service. 

On the other hand, crypto-based hacking has defied the trend, jumping 58.3% to $1.9 billion through July 2022, excluding the [$190 million Nomad bridge attack](/news/article/nomad-crypto-hack) that began on August 1st. This value increase is primarily due to the emergence of decentralised apps, [which surged in 2021](https://blog.chainalysis.com/reports/2022-defi-hacks/).

According to the research, a significant concentration of these hackers originated from North Korean elite cyber organisations such as Lazarus Group, with these entities accounting for over half of the crypto seized.

## Crypto scams are not entirely a bad thing

Due to smart contract programming languages like Solidity are relatively new, the fraud cases are not terrible as these vulnerabilities can improve security by allowing code audits. The crypto brand has suffered due to  bad actors leaving investors feel that there is no security, but through learning the hard way from these mistakes we hope that industry participants will build the crypto ecosystem back better. 

The report also stated that darknet market income is down 43% in 2022; dark web black markets provide illegal products and services, typically utilising cryptocurrency as payment.


Crypto scams are falling as victim investors exit 

Cross-chain bridges have been the focus of many attacks this year. New data from blockchain analytics firm Elliptic claims that one of the cross-chain bridges, Renbridge, was [used in the laundering of more than $540 million](https://hub.elliptic.co/analysis/cross-chain-crime-more-than-half-a-billion-dollars-has-been-laundered-through-a-cross-chain-bridge/) in illegitimate crypto assets.

According to Wednesday's study, RenBridge, a crypto bridge, has assisted the laundering of at least $540 million in illegal profits since 2020 using a method known as chain hopping. This involves turning one type of cryptocurrency into another and transferring it across various blockchains.

Decentralised cross-chain bridges, according to Elliptic, give "an uncontrolled alternative to exchanges for moving currency between blockchains".

## Cross-chain Bridge Exploits

Cross-chain bridges, also known as blockchain bridges, are mainly utilised for lawful reasons, allowing users to exchange cryptocurrency effortlessly between blockchain networks.

Users often deposit tokens from one chain to the bridge protocol, which is locked into a contract, after which the user receives the equivalent of a parallel token in another chain.

Elliptic warns that these bridges have also been used to launder criminal earnings by ransomware gangs, exploiters, and hackers. It says RenBridge accounts for at least $540 million in laundered proceeds since 2020.

According to the firm, at least $2.4 million in crypto assets stolen during the Nomad attack on August 2 passed across the cross-chain bridge.

Elliptic also revealed that assets from decentralised finance (DeFi) services worth at least $267.2 million had been laundered through the cross-chain bridge in the past two years. It adds that a chunk of the $80 million stolen from the Liquid Global exchange last year, reportedly by North Korea, used RenBridge cross-chain platform.

So far, the Conti ransomware gang, which notoriously struck the Costa Rican government in June, has laundered more than $53 million using RenBridge.

RenBridge is also said to be popular with Russia-linked ransomware operations, with $153 million in ransomware being laundered through the site.

Tornado Cash, a decentralised mixer meant to disguise the sources of cryptocurrency, was [sanctioned earlier this week](/news/article/tornado-cash) by the United States Treasury department. The authority took similar action in May with the mixer Blender.io. The US Treasury noted suspected exploitation by North Korean cyber organisations in both instances.

Additional digital services, such as privacy and censorship avoidance, can be used for illegal and non-criminal objectives. However, DeFi is particularly vulnerable to theft and hacking, and finding chokepoints might benefit security experts and governments.


RenBridge Used to Launder $540M

MetaMask security is at risk! According to a blockchain security firm Halborn, a new phishing attempt is targeting Metamask [cryptocurrency wallet holders](/news/article/crypto-wallet-multiple-currencies).

Cybercriminals and hackers are profiting on the cryptocurrency airgaps, and as various crypto  businesses grow in popularity, so does the number of frauds and other hacking events targeting cryptocurrency organisations and investors. Technical education specialist Luis Lubeck of blockchain security firm Halborn released [details](https://halborn.com/warning-active-metamask-phishing-campaign/) on how skilled fraudsters attack Metamask holdings via a new phishing effort.

## Look out for suspicious emails

The fraud involves scamming users with emails and convincing them to readily surrender their passwords. According to Halborn, the email appears real at first sight, with Metamask's header and logo proving its validity.

It also includes a message advising users about Know Your Customer (KYC) rules and ways to validate their wallets. However, after reviewing one such email, the blockchain security firm discovered many red flags.

The email had various typographical problems, as well as a bogus sender's email address with the site ‘metamaks.auction’. Halborn further stated that the server used to deliver the email had nothing to do with the legitimate Metamask organisation.

At the bottom of the email ,a ‘Verify Your Wallet’ request was placed which when clicked, directed users to dockwo.com - a domain unrelated to Metamask.

This fraudulent website prompted users to enter their password. According to Halborn, once the victim enters the required passcode, they are actually redirected to the real MetaMask website, which misleads the victim into believing that everything is in order, but the fact of the matter is that the details of their crypto wallet has already been exposed, and the scammers now have all the information they need to access the victim's digital assets.

Keeping in mind the MetaMask security, and fraudsters becoming more sophisticated, the security firm suggests users' to be extra safe, utilise 2FA in every account and update multi-layer security solutions.



MetaMask security at risk!

If you have been interested in crypto poker, roulette, slots, or gambling in general, you’ve probably come across many scam sites, one of which is the [FortuneJack scam.](https://www.trustpilot.com/review/fortunejack.com)

Still, we don’t want to allege that anyone was being illicit or fake so let’s try to explain what this ‘crypto casino’ is about. 

According to some (most probably paid) ads, this is one of the oldest crypto casinos on the web that is now facing numerous accusations of scam – especially when big money is involved.

The latest complaint against FortuneJack includes more than 800 Monero (XMR). And not just that, but the whole transaction history of one of the best winning clients was deleted.

According to a user known as PaperWallet, he accumulated a total of $120K on FortuneJack. Still, just a moment before the withdrawal, the whole betting history was deleted by the casino and over half the amount won was deducted.

This, of course, can be added as a ticket to technical support (or lack of) and perhaps the issue can be resolved for that matter. However, the company that calls itself the oldest crypto casino has to take care of its reputation and should not allow such things to happen.

Also, after the complaint, support didn’t answer over 28 hours. 

## Infamous year to start the business

Fortunejack started with its operations in 2014 – the same year hackers stole 740,000 [Bitcoin](/coins/btc) from Mt. Gox customers and 100,000 from the company itself. Not directly related – but shushes the general sentiment.

Also, when looking at the company’s Terms of Service (ToS), it’s viable that the company can, at any moment, change the rules for its customers and they can take effect immediately without previous notice of such actions.

According to the website, the company is encouraging users to regularly check for such updates because it can shrug off any liability for any loss resulting from the changes made.

If we look at regular casinos, which all have similar ToS’s, this could imply that winnings could also be cancelled.

When PaperWallet’s support ticket was finally answered, FortuneJack said its Terms of Service gives them the right to cancel bets when the player places more similar bets as, in such cases, only one of such bets is considered active.

The real question is – why does the company allow that kind of bet to be placed and why does it wait for the outcome before reacting, in this case - nullifying them? More precisely, what would it do if the player had lost?
To us, this seems like a cheating policy involving malicious interpretation of their terms. 

A good reputation is what it’s all about at the end and we believe that Fortunejack forgot that.
The rules should be more apparent and the warnings about this kind of situation should be publicly visible (not only in the fine print).

Finally, bets that are “same” or “similar” should not be approved in the first place, and players should be warned on all of these terms.


The FortuneJack Scam Explained

In crypto news from Australia, the [Australian Competition and Consumer Commission (ACCC)](https://www.accc.gov.au/) is testing automated scam site removal.

After more than 300 reports, ACCC's trial has taken down various scam sites, including ones linked to cryptocurrency.

Cybersecurity experts believe this measure will help regularly take down fraudulent sites that pose a cyber threat to consumers.

## Crypto News Australia

On Tuesday, the ACCC's chair, Gina Cass-Gottlieb, announced the trials at the 2022 Law Council Australia. This followed crypto news from Australia that, last year, there was a loss of around 113 million (AUD) because of cryptocurrency scams in the country. That's why ACCC thinks that action against such scams is mandatory.

ACCC is currently working with the Australian Securities and Investment Commission (ASIC) to remove crypto scam sites from the internet. To take an efficient and automated action against scammers, ACCC is taking help from Netcraft, a UK-based firm. Netcraft is an experienced firm for cybersecurity as it has been working with the UK’s National Cyber Security Network for the last four years. 

Cass-Gottlieb said more than 300 scam sites have been reported and removed from the internet in the last three weeks. These sites include phishing, tech support, puppy, and cryptocurrency investment scams.

## Australia Introducing Strict Crypto Regulations

Other crypto news from Australia suggests that the country's crypto regulators are introducing strict policies for criminals. Along with taking action against scam sites, the Australian courts have announced severe sentences for criminals who will use crypto in their illegal activities.

The ruling came after a recent study on Crime and Cryptocurrency in Australian courts. According to this study, using blockchain for crimes indicates considerable planning and technical knowledge. That's why the court concluded that the crimes involving crypto are more offensive to the law. 

Australia is now also looking to shape a formidable framework for cryptocurrencies to ensure a safer environment for investors. Previously, many other countries like the UK, Russia, South Africa, and others have made amendments to their cryptocurrency regulations.

Read more crypto news at [Latest Moni](/news).



Crypto News Australia: Regulator Trials Automated Scam Site Removal

Scammers are at it again with Bitcoin. This time, another bogus celebrity endorsement is being used to trick unsuspecting members of the public into joining up for various Bitcoin trading sites. This time it is the [Ant McPartlin Bitcoin scam](https://www.economywatch.com/bitcoin-robot/ant-mcpartlin-bitcoin).

In this article, we look at a con involving Ant McPartlin's name and analyse whether the TV star ever actually got involved in Bitcoin Revolution, a BTC auto-trading business.

## Who is Ant McPartlin?

Anthony David "Ant" McPartlin is a British television producer, rapper, singer, comedian, actor, and TV presenter born in Newcastle upon Tyne in 1975. Because of his talent, he has a large following that extends beyond the United Kingdom.
McPartlin is well-known for his work as a co-presenter with Declan Donnelly, known colloquially as Ant and Dec.

McPartlin has garnered honours for his outstanding contribution to the media business, including the British Academy Television Awards: Entertainment Programme (Ant & Dec's Saturday Night Takeaway) and the British Academy Television Awards: Live Event (The Queen's 90th Birthday Celebration).

## What is Bitcoin Revolution?

[Bitcoin Revolution](/news/article/bitcoin-revolution) is an automated Bitcoin trading system designed to improve the trading experience of investors with limited capital, time, and trading skills. The platform includes a robot that manages the whole trading process on behalf of the account user, automatically executing buys, holds, and sells with minimum input from the investor.

After registering on the platform, users must make an initial payment of at least £200.

Bitcoin Revolution is a built-in algorithm that claims to deliver more than 99% accuracy on all trades, allowing investors to earn up to 20% daily returns on their money.

## Ant McPartlin Bitcoin Scam?

The question is, did McPartlin endorse Bitcoin Revolution?

McPartlin has denied any support for a Bitcoin trading platform. He has claimed that he has no intention of investing in Bitcoin or its trading bots.

As we investigated, we found no direct or indirect postings on Ant's social media to indicate that he had adopted the trading platform.

McPartlin is one of many celebrities whose accounts have been phished by Bitcoin fraudsters.

An “audience seeker” storyline is always popular, especially when it involves renowned people. In this example, bogus news sites and gossip blogs have fueled media coverage of the entire event, primarily to gain click-through and registration commissions from the traders involved.

Fake trading sites were involved in advertisements and other media promotion of the supposed endorsement, causing naive investors to lose money.

Because neither McPartlin nor Bitcoin Revolution confirmed the endorsement story, it was assumed that a bunch of avaricious internet marketers staged the entire affair.

## Is Bitcoin Revolution a Ponzi Scheme?

This is a common question among cryptocurrency aficionados right now. Should I put my funds on the platform?
I say not. Unless you can verify the legitimacy of any trading platform for yourself, you should retain your money in your bank account.
 



Ant McPartlin Bitcoin Scam Explained

Whether you are an active crypto investor or simply an aficionado, the chances are that you have heard of the Bitcoin Rush scam, or at least the trading robot.

Basically, it's a trading bot that claims to increase average daily trading profit to $1,500. However, when we look around the internet, we can see all kinds of reviews. Many sites say it's legit, but there is a question about whether these media are paid for that.

That’s why we decided to consider both sides of the Bitcoin Rush scam story.

## What is [Bitcoin Rush](https://money-back.com/bitcoin-rush-scam/)?

First of all, Bitcoin Rush is not something that would invest on your behalf. It is basically a recruitment advert to get inexperienced traders to give their assets. This doesn't mean that they cannot earn profit. It does mean that there will be probable scammers nearby who will be waiting for the "fresh blood".

Still, it would be wrong to name the whole thing a scam since this is simple artificial intelligence we are talking about and there is no such thing as a reliable auto-trading AI. Auto-trading systems can be used as a help when the market is uncertain and volatility high.

Even though products like Bitcoin Rush or a similar bot dubbed Bitcoin Code claim to be completely legal and have terms and conditions and a privacy policy that seems totally legit – it is always good to read the small print. 
With its explanation at the page bottom, Bitcoin Rush basically confirms it breaches advertising codes in many countries, but since it is not from any country, it is not strictly illegal.

“Bitcoin Rush is a beginner-friendly [BTC](/coins/btc) auto-trading system. We have helped tens of thousands of our clients gain financial freedom through BTC trading. You could generate up to $750 daily by depositing as little as $250 with us. The daily return could quadruple within weeks of compounding your profits.”

Therefore, it is recommended that you try trading in demo mode first to learn how to leverage Bitcoin Rush to facilitate a live trading session and make a profit.

If you lose money, there are no chances of getting it back since Bitcoin Rush isn't the one who took it. Be aware that Bitcoin Rush does not exist as a company or service. It is only a creation sold by the affiliate networks to make people sign up with, mostly offshore-based, brokers.

Also, let’s not forget that the main characteristic of the crypto market is that it is decentralised and its transfers cannot be traced.

Yes, so-called recovery firms will offer their services to help you get your money back. But guess what – they also cost money as they will only seek recovery from your bank, and keep a portion of that.

Most banking and credit card companies offer that service, so this is something you can do yourself without the help of such "recovery firms". It's better not to bother.

Remember, affiliate marketers sometimes do fraudulent marketing for both legit and scam trading robots. That is why we recommend doing your own research before choosing any auto trading platform.


Bitcoin Rush Scam Explained

Originally the hack was perceived as an exploit of the new Uniswap v3 protocol but it was soon realized that this is was sophisticated phishing campaign  targeting Uniswap v3 protocol liquidity providers (LPs), resulting in the [theft of more than $4.7 million](https://cointelegraph.com/news/more-than-4-7m-stolen-in-uniswap-fake-token-phishing-attack) in Ether (ETH). However, the community is suggesting that the losses may be far higher.

On Monday, MetaMask security researcher Harry Denley was among the first to raise the alarm about the assault, informing his 13,000 Twitter followers of the latest Uniswap news that 73,399 addresses had been issued fraudulent ERC-20 tokens in order to steal their assets.

According to a tweet from Binance CEO Changpeng "CZ" Zhao, at least $4.7 million in [ETH](/coins/eth) was destroyed in the hack. However, there are indications in the crypto world that the infiltration may result in more significant losses.

Prominent Crypto Twitter user 0xSisyphus revealed that a "big LP" with around 16,140 ETH, worth $17.5 million, may also have been phished.

How does a phishing scam work?
The phishing scam, according to Denley, operates by giving unwary users a "malicious token" called "UniswapLP" that is disguised as coming from the genuine "Uniswap V3: Positions NFT" contract by modifying the "From" field in the blockchain transaction explorer.

Users who are interested in their new tokens will be led to a website that claims to allow them to exchange their new tokens for Uniswap (UNI), which is now worth $5.34 per token.

Instead, the website would send the customers' addresses and browser client information to the attackers' command center, where they would attempt to drain crypto assets from their wallets.

According to a Reddit thread explaining the incident, the attackers took native tokens such as Ether, ERC-20 tokens, and nonfungible tokens (NFTs) (namely Uniswap LP positions) from victims.

The Uniswap price plummeted to a 24-hour low of $5.34 as a result of CZ's initial worrisome statements. The price of UNI has subsequently rebounded to $5.69.

For more of the latest cryptocurrency news, Read Moni. 



 Uniswap News: Phishing attack stole $4.7 million

#Bitcoin Doubler Scam Explained

*italic text*This article will explain what [Bitcoin](https://www.monitalks.io/coins/btc) doubler scam strategies some contemporary thieves use. Hence, you stay informed and prevent getting robbed!

The idea of doubling money always sounds lucrative. It appeals to the human's inherent greed and desperation for cash. But against it, the logic will strongly warn you that it's only a temptation that can't be turned into reality.

Unfortunately, the money doubling scam has also entered the crypto world in the shape of the BTC doubler scam. It has already trapped many crypto novices and has taken their money. Bitcoin doubling sites run on Ponzi schemes and can never double your coins.

In this article, you can learn about the reality of the Bitcoin doubler scam. We will inform you about how scammers often approach you to help avoid them.            

## What is a BTC doubler?

To better understand the Bitcoin doubler scam, you first need to know what a BTC doubler is. A Bitcoin doubler is a person or a company selling you the idea that you can double your Bitcoin count instantly.

You may be asked to send your funds to them so that they can double them for you. You must not fall for this scheme!

Because as soon as they get the funds from you, you will never hear from them again. Some scammers might keep you in the loop for a while and then disappear without any update.

## Bitcoin Doubler Scam Strategies

The Bitcoin doubler scam uses many different tactics to rob you. They also perform research to target specific people by studying their pain points and using strategies accordingly. Here we have discussed the scammers' three common tactics. 

### 1.   Posing as experts

One of the strategies used for the scam is that they pose themselves as 'experts.'

A person might contact you and claim to be an expert on Bitcoin doubling. They will try to convince you by using crypto jargon and some technical terms to sound like an authority.

They might also ask you to pay them a fee. And in turn, they claim to double your Bitcoins using his self-coded Bitcoin Doubling script or technique.

Never fall for this!

Decentralised crypto, like [Bitcoin, is almost impossible to hack](https://www.investopedia.com/articles/investing/032615/can-bitcoin-be-hacked.asp#:~:text=Bitcoin%20and%20Security&text=On%20one%20hand%2C%20bitcoin%20itself,bitcoin%20users%2C%20hacks%20are%20unlikely). So, always act vigilantly against this kind of doubler scam.

### 2.   The betting Bitcoin doubler scam

This type of Bitcoin doubler scam not only targets those desperate to increase their revenue but also the greedy gamblers.

They try to convince you to bet your Bitcoin by telling you there is more than a 50% chance of you winning the bet.

But the issue is that you always lose!

### 3.   The Multi-level-marketing scam

This type of Bitcoin doubler scam is the most dangerous as it is systematic. This strategy works like the pyramid scheme that operates through referral programs on Bitcoin doubler sites. They might promise you will get large commissions if you bring in more investors.

They may also provide fake testimonials to deceive you. That's why you should verify the site, regardless of who suggests it to you.

## Final Take

There is no way anyone can double your Bitcoins. That's why you need to be watchful about any Bitcoin doubler scams. Beware of those who pose as doubling experts and shady referral programs, and avoid Bitcoin gambling!


Bitcoin Doubler Scam: Learn to Save Yourself! 

The volume of internet searches for 'bitcoin scam instagram' has rocketed following incidents of accounts on the Meta platform being hacked.
[The Identity Theft Resource Centre (ITRC)](https://www.idtheftcenter.org/) reported a significant increase in victims of Instagram account takeovers linked to Bitcoin scams since October 2021.

According to ITRC findings, fraudsters construct Instagram posts regarding Bitcoin investments to entice other users. When a user clicks on the link, their money is gone, and their Instagram credentials are compromised.
The victim's Instagram account is then locked, and the account is utilised to post further links to phoney [Bitcoin](/coins/btc) investments.
This is what has sparked the rise in searches for 'bitcoin scam instagram' on Google.

You should never disclose your Instagram account passwords to anybody else. Use a strong password and two-factor authentication to secure your account. If an Instagram post appears too good to be true, it most often is.

Bitcoin Instagram scams and hacked Bitcoin Instagram accounts have been around for a long time. However, the ITRC is witnessing a considerable increase in victim queries concerning hijacked Instagram accounts. The Centre says it is now receiving four times as many reports each month than it has previously.

This heightened awareness is mirrored in the increased online interest in 'bitcoin scam instagram' searches.
According to the ITRC, fraudsters impersonate people their victims know to get personal information. Some victims are discovering that their Instagram accounts have been locked and that fraudsters are posting things in the hopes of defrauding others.

Some victims have complained that even if they did not submit their information to a scammer, they still had a hacked account or account takeover. While it appears that users are being targeted in numerous ways to get login information, their account information may also have been accessed using information from breaches, including Facebook login information, especially if the username and password were never updated.

The ITRC has also seen victims have their accounts faked using their public photos. Cybercriminals then track the victims and send them communications containing a scam or harmful link.

There are steps you can take to protect yourself:

•	Never give out your password or any other sensitive information to anybody
•	Make sure your password is difficult to guess
•	 On your account, enable two-factor authentication (2FA). Go to "Settings," "Security," and then "Two-Factor Authentication" to enable 2FA on Instagram. Tap "Get Started," then either "Authentication App" or "Text Message." Because SMS messages can be faked, the ITRC suggests using an authentication app
•	Check that the email address linked with the account is safe. It is also a good idea to use 2FA to safeguard your email
•	Third-party apps should not be downloaded through a social networking platform. Download software only from Apple, Google, and Microsoft's official app stores

You can contact the ITRC to learn more about stolen Instagram accounts and what you can do to secure the information that a fraudster may have access to.

Bitcoin Scam Instagram: Why this Phrase Matters

Is [Bitcoin Prime](https://bitcoinprimeapp.com/) scam or legit? That's the question investors have been asking after promises of huge returns for little work.
Bitcoin Prime is a trading bot that employs sophisticated artificial intelligence (AI) algorithms to make automatic trades on your behalf. It has a claimed 90%winning rate, per its official website, and the software is completely free to use.

All you have to do is to pay a small fee in commission only when you win. Due to the controversies such as scams and hacks miring the crypto finance market, many people ask, is Bitcoin Prime worth your time and money?
This article looks at all the essential details you need to know about this crypto trading robot.

## What is Bitcoin Prime?

Bitcoin Prime is reputed to be a cryptocurrency trading service that detects trading opportunities in the cryptocurrency markets. Once profitable setups are found, Bitcoin Prime automatically places trades on your behalf.

Because it markets itself under its AI algorithm, its success largely depends on it. Although it has been difficult for software engineers to identify the details of Bitcoin Prime's algorithm, many experts believe it sources data from technical analysis patterns that several day traders use to make money.
Despite being accessible to everyone with internet access, you need $250 as an initial deposit before you make real profits using Bitcoin Prime.
The platform’s revenue comes from charging a 2% commission on profitable trades.

You should note that you would not be subject to commission fees if your account does not turn profits.

## How Does Bitcoin Prime Work?

Despite the phrase 'Bitcoin Prime scam' trending online, it appears to be a legitimate project, and this is how it works.
The crypto trading robot tracks the price movements of 14 different digital assets. They are Binance Coin (BNB), Ripple (XRP), NEO, EOS, Miota (IOTA), Cardano (ADA), Ethereum Classic (ETC), DASH, Zcash (ZEC), Bitcoin Gold (BTG), Bitcoin Cash (BCH), and [Bitcoin (BTC)](/coins/btc).

Once the algorithm detects a price pattern in any of the aforementioned assets, a trade will be triggered.
An order will be entered into your account, which will be monitored, and the position will be closed once the trade expires.
Once done, your funds and any profits will be returned to your account.

Like certain exchanges, such as eToro, Bitcoin Prime provides a demo account. This helps you familiarise yourself with its AI algorithm.
Bitcoin Prime does not store your funds in their wallet. For the purposes of credibility, funds are held in the accounts of a third-party broker. As a result, while Bitcoin Prime can issue orders for the execution of trades, it does not have access to your funds.
You can withdraw funds within a few hours if you are not satisfied with your trading activity.

## Pros and Cons of Bitcoin Prime? 

While the crypto robot offers a unique innovation that has made trading highly volatile assets such as cryptocurrencies easy, it is not a perfect system.
One of the pros of Bitcoin Prime is that it lists several cryptocurrencies for trading. Also, it does not take a huge part of potential profits. A 2% commission fee is relatively lower than some of the fees charged on certain cryptocurrency exchanges.

What’s more, Bitcoin Prime’s association with third-party brokers in executing contract-for-differences (CFDs) shows a commitment to staying up to speed with the space.
The trading service's demo account converts novices to experts, resulting in rave reviews by past and active users of the platform.
With that said, Bitcoin Prime does not offer a mobile application. One of the pros of cryptocurrency exchanges is their accessibility on smart devices powered by Android and iOS. This has made it easy for traders to buy and sell cryptocurrencies.

Aside from that, the minimum deposit for being a customer of the trading service is $250. Several cryptocurrency exchanges have minimum deposits that range from $1 to about $50.

Bitcoin Prime's deposit requirement is five, 10, 15, or even 20 times that of some.

When it comes to answering the questions 'Bitcoin Prime Scam or Legit?' you should conduct your own research.
 
 


Bitcoin Prime - Scam or Legit?

#SCAM

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