[Telegram](https://telegram.org/) a playground for crypto scams: How to avoid cryptocurrency scammers and identify telegram crypto scams. 

Cryptocurrency Scammers are relentlessly looking for ways to scam crypto investors. They have practically scammed people through almost all the available social media platforms, and telegram is one of these platforms. Telegram crypto scams have gradually become almost an everyday thing. Most cryptocurrency companies use telegrams to create awareness for their tokens, making it one of the most used platforms for crypto investors.  

## Telegram crypto scams can be avoided

To [prevent Telegram crypto scams](/news/article/bitcoin-scams), you to needs to first know how to identify them. Most of the scams are done by bots programmed to coax crypto investors into giving their two-factor authentication, leaving their accounts entirely vulnerable to Scammers. Unfortunately, these bots are often disguised as support channels, making it easier to deceive some crypto investors, especially those new to the crypto space.  

The bot scam has become rampant on telegram, to the extent that anyone can actually access these bots even without being a coder, by simply buying the bots. Not all cryptocurrency companies are real or genuine; some of them are merely schemes to rip unsuspecting victims off. Joining a huge crypto community makes it possible for a lot of strangers to gain access to your profile or send you messages, do not trust every information you hear.  

## How can Telegram crypto scams be prevented? 

Here are some important tips to help you be out of reach for Telegram crypto scams.  

Do your research: Do not join just any crypto community to see on telegram; always DYOR. Some crypto communities are created for scam purposes. With the internet, you can get any information you need easily. Make it a habit to first research anything that has to do with cryptocurrency before taking part in the process. 

Do not give out vital information: No genuine crypto community will ask for your personal wallet or account information as a criterion for gaining access to its tokens. Your authentication codes or OTPs are for you alone. Giving out such information always ends badly. 

Be mindful of the links you click: Scammers can use different methods to gain access to your vital information. Do not click just any link, do intense research first to find out more about the company sharing the link. 

Anything can happen in the crypto space, so it is advisable to always  stay be alert when in the space. Many assets have been lost to telegram crypto and other platform scams; always be on the lookout for crypto scammers. Losing investments, whether huge or small, can be devastating. Secure your investment by ensuring that you avoid falling victim to all these. How do you do that?  

- ##### Do your own research.  

- ##### Keep your personal account information to yourself.  

- ##### Be sure of the links you click.  

Telegram has become a playground for crypto scammers; stick to the above tips for your assets to remain protected.  

 

How to Avoid Telegram Crypto Scams

Undoubtedly, the cryptocurrency market will continue to grow in the near future. It's here to stay, and it's completely transforming the way people invest. However, people are still skeptical of this type of trading because there are platforms that prey on people's gullibility and steal money from a huge number of people. In this article, we'll look at [Crypto Engine](https://crypto-engine.org/), a cryptocurrency trading platform that's been gaining traction among cryptocurrency investors.
 
The platform is reported to feature a high-profit margin that may be achieved in a short period of time, a simple account opening process, and a user-friendly interface. The Crypto Engine robot's official website made claims that consumers can make millions of dollars by using its services to trade [Bitcoin](/coins/btc). External evidence also says that the automobile bot's services brought in $1500 each day, although these assertions are difficult to believe. Are these claims true? Is Crypto Engine a Scam or a legit Trading Platform? Continue reading to find out what we think.
 
## What is Crypto Engine?

Crypto Engine is a beginner-friendly cryptocurrency trading platform. The developers of this software recognise that thousands of crypto enthusiasts are unable to make their first trades because they are unsure about the market's direction. In addition, Crypto fans are frequently unaware of the trading tools accessible to them and want guidance on how to use them.
 
As a result, Crypto Engine was created to fill the void by providing a user-friendly interface that simplifies cryptocurrency trading. You can trade a variety of coins with this software. Furthermore, the software's simplicity made it perfect for novice and experienced users to locate crucial information quickly.

## Crypto Engine Pros & Cons
 
### Pros
 
•	Uses AI to make a market forecast with a 90% success rate
•	Offers multiple crypto assets
•	User-friendly
•	Rapid withdrawal timeline
•	Suitable for both new and advanced traders
•	Enables hands-off trading approach
•	Comes with mobile support
•	Liaises with brokers to enable users to place trades

### Cons
 
•	There's limited information on the development team
•	The success rate is largely unverified
•	Lack of operational licenses
 
 
## Is Crypto Engine Legit?

Crypto Engine employs sophisticated algorithms and technological approaches to forecast future price fluctuations in crypto-assets, but it is deceptive about the software's usefulness. Its automated trading services can execute trades fast and without the need for human participation. However, earnings of $1500 per day are very impossible to achieve, and this figure is merely utilised to entice customers to the platform.
 
Furthermore, the movie on the front page creates the idea that it has ties to major investors. However, none of these people are connected to Crypto Engine in any way. Instead, they are using unscrupulous marketing strategies to sell their product. The website claims to have over 6000 registered members, but our research team could not confirm this.
 
Beginners should be wary of promises that the robot will make them millions in cryptocurrency trading. Even professionals should exercise caution when using its services because Bitcoin markets can be turbulent and unpredictable.


Crypto Engine- Is it a Scam or Legit?

Cryptocurrency investors are being targeted by an increasing number of Bitcoin trader scams.
Bitcoin, a decentralised digital currency, was introduced to the market in 2009 by a mystery developer named Satoshi Nakamoto.

It was created to act as a virtual coin and a form of payment beyond the authority of any individual, group, or entity, thus terminating the necessity for third-party involvement in monetary transactions.

It is rewarded to blockchain miners for the work done to demonstrate trades and can be bought on multiple exchanges.
Currently, it is the leading cryptocurrency in the market. Its popularity has resulted in the development of multiple other cryptocurrencies. There are, at present, 21 million Bitcoins in the market.

Tricksters are always waiting for a chance to steal investors' money. The massive popularity of Bitcoin and the technological advancement in recent years resulted in numerous Bitcoin trader scams. According to [blockchain data firm Chainalysis](https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/), cryptocurrency scams had a record-breaking year in 2021 – scammers stole $14 billion of crypto last year. Investors interested in Bitcoin must know how to recognise these ongoing crypto scams and the best practices to avoid them and save their money.

## How to Recognise Bitcoin Scams?

Caution signs to look out for include:

1.   Assurances of guaranteed returns:
 Bitcoin is a volatile investment. It has its ups and downs in the market. No monetary investment can assure future returns because investments can go down and up. Any Bitcoin offer that guarantees you future returns is a big red flag.
2.   Free money:
Free money is a scam. Free money is a myth, any investment opportunity, be it cash or digital coin promising free money, is likely to be fake.
 Any individual or company asking you to invest in Bitcoin and enjoy free money return is scamming you.
3.   Exaggerated marketing:
All enterprises advertise themselves. But one way that crypto scammers lure people is by investing in a hefty marketing strategy. This could include online advertising, paid influencers, and offline promotion. This is planned to reach as many individuals as possible to raise finances fast in the shortest time feasible. If the crypto offering marketing feels heavy-handed or drives grand claims without backing them up, break and do detailed research to save yourself from such a scam.
4.   Bitcoin craze:
Bitcoin rose dramatically in value because genuine investors consider it a promising investment to buy at the right time, hold, and sell when the market is high. Always avoid "investment opportunities" that promise you a good return and ask you to invest in Bitcoin for Bitcoin's sake.

## 5 Common Cryptocurrency Scams

Cryptocurrency has evolved as a hunting ground for scammers. Let's dive into some common cryptocurrency scams.

1.   Fake websites

Fraudsters create phony cryptocurrency trading platforms or fake interpretations of authorised crypto wallets to scam gullible investors. These fake websites generally have similar, but slightly distinct domain titles from the sites they try to emulate. They look identical to legal sites, making it hard to differentiate. Fake crypto sites usually function in one of two ways:
•	As phishing pages - All the data you share, such as your crypto wallet's password, recovery phrase, and other monetary data, end up in the tricksters' hands.
 
•	As straightforward theft - Initially, the site may allow you to withdraw a small number of funds. As your investments function well, you tend to invest more money in the site. However, the site closes down or rejects the request when you want to withdraw your money later.
2.   Pump and Dump Scams
 
This scam sees a specific coin or token being promoted by scammers via an email blast or social media such as Twitter, Facebook, or Telegram. Traders often fall prey to such schemes and rush to buy the coins promising huge returns in a short time. Having thrived in raising the price, the tricksters then trade their holdings, resulting in a crash as the investment's value sharply falls. This can occur within minutes.

3.   Phishing Scams

Crypto phishing scams usually target data related to online wallets. Fraudsters target crypto wallet private keys, which are needed to access coins within the wallet. Their working method is similar to other phishing attempts and connected to the fake websites explained above. They send an email to draw gullible investors to a specially designed website asking them to enter personal critical data. Once the scammers have received this data, they steal the cryptocurrency in those wallets.

4.   Blackmail and Extortion Scams

Another trick crypto fraudsters use is blackmailing. They send emails that proclaim a history of adult websites accessed by the user and threaten to reveal them unless they share private keys or send cryptocurrency to the scammer.

5.   Scheming Initial Coin Offerings (ICOs)

An ICO is a mode for start-up crypto firms to raise funds from future customers. Usually, users are guaranteed a discount on the new crypto coins in trade for sending popular active cryptocurrencies like Bitcoin.

## 10 Best Practices to Avoid Bitcoin Trader Scams

Many crypto scams are sophisticated and influential. Here are measures to save yourself from such situations.
1.   Don't believe in celebrity-backed offers:
One of the significant crypto scam trends includes fake celebrity-backed offers. BBC TV show Dragons' Den was one of them. The scam involved people going crazy behind Bitcoin investments because it was presented as celebrities supporting Bitcoin. But it was fake and was a trick used by fraudsters to steal investors' money.
2.   Protect your wallet:
To invest in Bitcoin, you require a wallet with confidential keys. If a company requests you share your keys to partake in an investment chance, it's highly likely to result in a scam. Make sure you don't share your wallet keys with strangers.
3.   Keep a watch on your wallet app:
In the initial stage of transferring money, make sure first to check the legality of a crypto wallet app. Do it by performing a small test of sending a small amount first. If, while updating a wallet app, you detect questionable behaviour, close the update, and uninstall the app instantly.
4.   Take your time:
Fraudsters often use high-pressure techniques to pressure you to invest your funds fast – for example, by assuring rewards or discounts if you partake instantly. Take your time and conduct your own analysis before financing any money in Bitcoin.
5.   Be cautious of social platform adverts:
Crypto fraudsters often use social platforms to boost fraudulent tactics. They may use unauthorised pictures of superstars or high-profile business individuals to build a sense of legality or guarantee giveaways or free cash. Beware of such tactics and don't fall prey to such scams promoted on social media. 
6.   Avoid cold calls:
If a person suddenly contacts you to tell you about a crypto investment opportunity, immediately cut the call, block the number and inform the police. Never reveal personal data or transfer money to a person who reaches you in this way.
7.   Do your research:
If you are new to Bitcoin investments, it's good to conduct thorough research about the digital coin before investing your funds. Look if there is a whitepaper you can read, find out who handles it and how it functions, and scrutinise for honest reviews and testimonials.
8.   Examine Links:
Before downloading any document or accessing any links online, examine the website to ensure it is trustworthy and is SSL-certified. With technological advancements, scams related to fake websites are increasing, so it's good to avoid landing on unsecured websites.
9.   Companies too good to be true:
Businesses that promise assured returns or overnight riches are scams. These companies have their chain set up to lure investors into investing in their fraud schemes by attracting them with positive Bitcoin returns.
10.   Only install apps from authorised platforms:
Although phony apps can end up in the Google Play Store or Apple App Store, installing apps from these mediums is more secure than elsewhere.

## Final Thoughts

[Bitcoin](/coins/btc) is the most popular crypto coin in the market. With its popularity comes a high possibility of fraud. Crypto fraudsters tend to sell the information they have collected to other scammers. So, investors must scrutinise before investing funds and update their usernames and passwords across the board to avert further damage. Remember, keep your wallet key private, double-check every URL, and if something appears too good to be true, avoid it as it will probably be a scam.

Finally, as with any investment opportunity, never invest money you can't afford to lose. Even if you're not being scammed, cryptocurrency is volatile and speculative, so it's critical to comprehend the stakes.


Bitcoin Trader Scams - Best Practices to Avoid Them

Tricksters behind the Bitcoin Trader scam have been exploiting pictures of celebrities from the hit TV show Dragon's Den to attract gullible investors to invest.

It is a scam. The pictures and false quotes have attracted investors into a get-rich-quick [bitcoin](/coins/btc) scam on websites and social platforms.

Let's discuss in detail the Bitcoin Trader scam.

## What is Dragon’s Den?

[Dragons' Den, produced by the BBC](https://www.bbc.co.uk/programmes/b006vq92), is a popular UK reality TV show. Promising entrepreneurs put their business visions to professionals and ask for investments.

The show features a board of investors known as "dragons" who are ready to place their own money in potential business visions.

## What is the Bitcoin Trader Scam?

The Bitcoin Trader scam is a phony investment opportunity that falsely asserts that it is connected with the famous BBC show. The scam has distinct versions, but all share one common trait; they ask for money from unsuspecting investors in trade for a fake investment option.

Tricksters draw gullible investors into trading with their money by manipulating pictures of celebrities from the TV show on websites and social media platforms.

The Bitcoin Trader scam is an example of how phony sites exploit the names of renowned public figures, superstars, and TV shows to encourage a get-rich-quick strategy. It's not a genuine investment opportunity, but something to trick innocent people and take their money by luring them with false promises.

Some of the well-known false claims from the Bitcoin Trader scam include:

•	A phony news report asserting Deborah Meaden, one of the investors on Dragons' Den, made a £250,000 investment in bitcoin. It is not true.
•	A bogus interview with Sarah Davies and Jenny Campbell, two new investors on Dragons' Den, asserting they had invested in bitcoin. Again, it's completely fake.
•	A fake interview with Peter Jones claimed he was initiating a bitcoin investment program after witnessing the get-rich-quick bitcoin scheme. This is also false.
•	Last, but not least, Theo Paphitis is said to be backing bitcoin as a lucrative cryptocurrency on the Dragon's Den show. This, too, is phony.

## In Summary

Bitcoin Trader is a scam. It's a phony get-rich-quick system that falsely promises investors enormous profits within a short span.

It is not legal.

Advances in technology bring advances in digital fraud, and cryptocurrency is not immune. Investors should conduct thorough research of the website or social media platform before investing their money.


Bitcoin Trader Scam: Dragon's Den

If you've been searching for a Bitcoin Code review, this article might help.

Nowadays, seeing how much profit it earned some individuals, many people want to get into crypto. Of course, when talking about cryptocurrencies, the first that comes up to one's mind is bitcoin.

The possibility of growing a passive income by trading [bitcoins](/coins/btc) has become very attractive lately. However, numerous auto trading platforms already have bad reviews, so people are being much more cautious about investing. It is hard to evaluate which trading platform is legit and which is a scam.
Bitcoin Code is an auto trading platform for cryptocurrencies that promises "insane returns" and "great profits" with "just a few minutes of work".

As we already mentioned, there is no real way to be sure whether something is a scam or not. The Bitcoin Code is known and has its own growing community of users who claim the scheme has been more than lucrative.

We have witnessed the evolution of different auto trading platforms, such as Bitcoin Revolution, which also has trading robots doing everything for the client.

With Bitcoin Code, everything seems pretty much the same. The user deposits money and then activates the live trading feature and sets stop-loss limits. 

The bots do everything else, such as market analysis, placing orders, and performing transactions.

## What is the Bitcoin Code?

The Bitcoin Code is usually described as an automated trading platform that trades for the client. 

The math seems simple - buying low, selling high. With only a $250 deposit and relying on a sophisticated, 99.4% accurate algorithm, the robot tracks the crypto market and trades 0.01 seconds ahead of market movements.

There is an option of performing manual trades as well, but it's available only to clients with intermediate knowledge of how manual trading works.

## Is it a Scam?

As we already mentioned, it is easy to believe that one can get rich over the night by investing only $250. However, everyone with a little bit of "Poirot" in them can see that Bitcoin Code is a scam.

Everything, including a photo of Bitcoin Code's alleged creator Steve McKay, is fake.

The photo of the alleged multi-millionaire who "has featured on the cover of Forbes magazine" and claims his team can help you "earn a guaranteed $13,000 in exactly 24 hours", is a photo of a rented actor from e-gig website [Fiverr](https://www.fiverr.com/banjoman15).

Also, if you try and look it up on Google, most search results will give the Bitcoin Code good reviews and claim it's the "real deal".

However, if you ask Facebook, things are definitely darker than it looks. Back in 2018, the company had to remove fake Daily Mirror ads stating Martin Lewis, of Money Saving Expert, had made a fortune from Bitcoin Code.

Mr. Lewis is now suing Facebook, which was paid to publish the fake adverts.

Steve McKay, therefore, never has been on "Dragon's Den" or in Forbes. This is a group of crypto scammers, and Steve McKay doesn't exist.
Every trading scheme with his name turned out to be an investment scam that is better to avoid.

However, this scheme isn't illegal per se. Because the client willingly gives their assets (whether it's $250 or even more) and is warned about the potential risks of trading – this cannot be charged as illicit activity.

The only real advice would be that if you want to try legit cryptocurrency trading, you should try some free demos with virtual money and do your own research before making any investment.


Bitcoin Code Review: Scam or Legit?

The [Blockchain Backer Twitter](https://twitter.com/B_CBacker) feed was bound to have an opinion on a recent multi-million dollar crypto hack, and it didn't disappoint.

Blockchain analysis researchers have traced the large quantity of cryptocurrency stolen last month from the Ronin network bridge to the North Korean hacking group Lazarus. The hackers stole large amounts of the [Ethereum](/coins/eth) currency and USDC stable coins totaling $540 million at the time.

It is believed that North Korean cybercriminals targeted multiple organisations in the blockchain technology and cryptocurrency industry. The hacks started with phishing messages to employees on various communication platforms. High-paying jobs were offered to coerce the potential victim to download cryptocurrency applications that contain malware.
 
Sky Mavis is looking to recover 173,600 Ethereum and $25.5 million from the hackers. The attackers zoned in on the bridge to Ronin blockchain, which acts as an intermediary between Axie Infinity and blockchains such as Ethereum. Where users deposit Ethereum or USDC to Ronin and then purchase non-fungible token items or currency within the game. They can also sell their in-game assets and withdraw the money.
 
The attackers used hacked private security keys to compromise the network nodes that validate transfers to and from the Ronin blockchain. 

After compromising four of Sky Mavis’ nodes, the attacker exploited them to get access to one managed by the community-owned Axie DAO. 

This allowed them to override any transaction security and withdraw whatever funds they liked.

## Bitcoin Backer Twitter View

The hack could not have been prevented as the hackers used the features of the chain and the ability to vote against it, according to Charlie Shrem, Blockchain Backer, on Twitter. He tweeted this to his 250k followers on Twitter, where he interviews and regularly discusses the impact of Bitcoin and Blockchain. 

On Blockchain Backer Twitter, Shrem recommends that people do not save screenshots or text files of their passwords and private keys on their computers, as hackers can scan them without them knowing. In his opinion, password managers are a better option for your accounts as you can create randomized passwords without remembering them all!

Shrem founded BitInstant in 2011, a platform that allows the exchange of dollars into Bitcoin. It operated until 2013 and gained more than 700,000 followers. At a point, it was processing nearly 30% of all Bitcoin transactions.

In December 2014, Shrem was sent to prison for indirectly sending $1 million in Bitcoin to Silk Road. Shrem is considered a Bitcoin evangelist for how he brought Bitcoin to the mainstream. 

## Staying Safe

Cold storage is seen as more secure as your crypto will be on an encrypted flash drive. So, if a thief wants them, they’ll have to steal the physical device. You can also enable two-factor authentication (2FA) on your accounts. Then a thief would need not just your password, but to gain access to your mobile phone. If hackers gain access, you can receive your access code by downloading an app that is a hardware key designed for 2FA. 

Blockchain Backer Twitter View on Crypto Hack

Is [Bitcoin](/coins/btc) Revolution a scam, or entirely legitimate?

The adoption of cryptocurrencies has increased significantly over the last two years. These cryptocurrencies carry the largest market capitalisation in the cryptocurrency market.

Due to their growth, and the rise of cryptocurrency millionaires, scammers have arisen with promises of making unsuspecting victims the next crypto millionaires. These scammers fail to tell their victims that they are not providing any benefit but are just exploiting the victims for financial gain.

While there have been various legitimate cryptocurrency guides in the market, it can be challenging for some to distinguish between a legitimate and illegitimate crypto offering.

[Bitcoin Revolution](https://the-bitcoinrevolution.com/) is one of the developments targeting the crypto sector that people are unsure whether to trust or avoid. This article explores what Bitcoin Revolution is and the Bitcoin Revolution scam. 

## What is Bitcoin Revolution?

Bitcoin Revolution is a crypto trading platform that relies on algorithms to help users access the best deals in the crypto market. The platform works by scouring numerous cryptocurrency exchanges and analysing the results to find the best deals.

According to the platform's website, Bitcoin Revolution is beginner-friendly, but can be used across the board, regardless of trading expertise.

To use the platform, users should complete the registration process, which takes a few minutes to set up. You will need your name, email address, phone number, and a strong password to sign up for Bitcoin Revolution.

Once you register, you can use the demo platform or fund your account to start trading. Bitcoin Revolution partners with eMarkets Trade Broker to allow deposits for those who want to start trading. The minimum account balance for each account is $250.

Bitcoin Revolution claims to offer the following advantages to crypto traders:

•	Traders do not need to complete market analysis
•	Crypto trading is fully automated and opens and closes positions automatically, based on the prevailing market conditions. 
•	It is free from the influence of human emotions
•	It is free to use – everything earned from the platform is yours to keep
Is Bitcoin Revolution a Scam?
The question remains – is Bitcoin Revolution a scam or does it achieve the results it claims to achieve? Why do some think Bitcoin Revolution is a scam:
•	The platform claims a 99.4% success rate. Cryptocurrencies are highly volatile and no trades can ever be guaranteed.
•	Reviews from the platform are mixed, with some saying they have fallen for the Bitcoin Revolution scam.
•	Most of the information about Bitcoin Revolution comes from its platform
•	The platform has features common among scam websites, such as international logos, a lack of context, and the announcement that registration ends in a few minutes due to the huge demand on the platform.
If it turns positive that Bitcoin Revolution is a scam, then the risks to consumers include:
•	Giving up your personal information, including payment details to scammers
•	You lose your money

## Final Word

The Bitcoin Revolution scam has yet to be identified as there are mixed reviews on the platform. However, it is wise to keep your investments to the minimum and withdraw your initial capital as soon as possible. That way, should Bitcoin Revolution be a scam, you will not lose your money.
 



Bitcoin Revolution: Scam or Legit

Simply put, [Bitcoin](/coins/btc) Revolution is an automated crypto trading platform created in 2017. The platform uses an AI algorithm to find and execute potentially profitable trades for users. Users also like it because it is easy to use, feature-rich, and compatible with various brokers, regulated and unregulated.

## Bitcoin Revolution Features

Some of Bitcoin Revolution's features include:

### Demo account: The demo account lets users test Bitcoin Revolution's capabilities before committing. The demo account allows users to perfect their trading strategies before staking real money. Users can customize the account for a better crypto trading experience.

### AI interface: The AI algorithm simplifies crypto trading for beginners. The AI tracks price changes in the crypto market and executes trades on behalf of users. The AI eliminates the need for extensive knowledge to earn from crypto trading.

### Live trading: The live trading feature allows users to trade in real-time. The AI bot helps with live trading. The feature is also accessible through the demo account.
Customer support: Bitcoin Revolution's customer support system is available 24/7. Day and night users can get assistance.

### Fees: Bitcoin Revolution does not charge trading or non-trading fees. The platform has no monthly or annual subscription fees, no deposit fees, no withdrawal fees, and no setup fees. The only requirement is a minimum deposit of $250 to start using the platform.

## Is Bitcoin Revolution a Scam?

According to many reviews on the net, Bitcoin Revolution is a legit trading platform that delivers on what it promises. Leading crypto publications like The [InsideBitcoins](https://insidebitcoins.com/) and [Cryptovibes](https://www.cryptovibes.com/) agree Bitcoin Revolution is not a scam. Some experts have carried out a $250 test on the platform and confirmed it is possible to earn $200 daily. There are many testimonials on the platform's official site suggesting it is not a scam.

However, a few things stand out when you take a closer look at the platform. These are things that make a few people question the platform's legitimacy.

## Bitcoin Revolution's team

The trading platform's team is listed nowhere. According to the platform's official site, in 2015, a "team" of Wall Street traders and MIT engineers came together and developed Bitcoin Revolution. A good product with no known team is a red flag.

## Guaranteed Returns

Those who have treaded the crypto market know the market does not guarantee returns, especially high returns. Bitcoin Revolution claiming to guarantee returns is another red flag.

According to the trading platform, users benefit from a daily profitability rate of 60%. The platform also assures users of a 99.4% success rate.

Is Bitcoin Revolution a scam or legit? The red flags are there to warn users about the platform. However, there are also a few reasons to look at the platform from a positive angle. Begin with the demo account, where you don't have to spend anything.

## Conclusion

Bitcoin Revolution has its pros and cons. It is easy to use, feature-rich, and accessible from any device anywhere.

However, before committing to the platform, consider that it features an anonymous team, operates in the crypto space, and guarantees high returns. Extensive research can help you determine whether Bitcoin Revolution is the best crypto trading platform for you.



What is Bitcoin Revolution and is it Legit?

When you read that Peter Jones endorses a [Bitcoin](/coins/btc) scheme, it could spark your interest. But take care, the Dragons' Den star is among celebrities whose names and images have been used without their knowledge in crypto scams. 

Due to being unregulated and with much attention on it, the crypto market is the go-to place for scammers to lay their traps and lure unsuspecting victims into financial ruin.

What do scammers need to fool someone? The promise of quick, easy, or free money backed by false reviews or false promises from socially respectable and trustworthy people. What better way to gain someone's trust than by faking a celebrity endorsement to promote a scam?

## This article delves into what to look for while traversing the crypto markets.

A popular scam back in 2018 saw many UK celebrities featured in fake articles, including Peter Jones and Deborah Meaden from the entrepreneur show  'Dragons Den', Alan Sugar from 'The Apprentice', and even the notorious Simon Cowell. The way this scam works is that a third-party website advertises a story of said celebrity making huge gains from a Bitcoin scheme, with a clickbait photo of the celebrity. One article had a picture of Deborah Meaden with a black eye to get the unsuspecting viewer to click on it. Another just needed to put the words 'Peter Jones Bitcoin' together.

The clickbait picture soon becomes irrelevant. The article explains how the star, such as Peter Jones, apparently recently took an interest in a scheme and, at the bottom of the page, there is a link to join the scheme. It is advertised as an exclusive deal which is soon closing to new members. The site then has you enter your name, email address, and phone number. Time passes, and then you get a phone call from a scammer playing the role of an 'investment manager' who encourages you to make a reserved investment of a couple of hundred pounds in exchange for some Bitcoin. Once you make the payment, you are sent an email with a fake trading platform site where your supposedly bought Bitcoins are held.

Later, you check your account on the platform to see that your £200 has now doubled or even tripled. Your 'investment manager' is persuading you to buy more. You tell them you're thinking of taking some of your money out, and he sends you 40% of your initial investment, creating a false sense of security and legitimacy. You feel reassured and continue sending money. But when you ask to withdraw again, you are met with silence from the supposed manager, who has now disappeared with your money.

## 212 Reported Celebrity Endorsement Fraud Cases in 2019

[Which?](https://www.which.co.uk/) obtained police data regarding cryptocurrency scams in 2019. In the first six months, there were 212 reported cases of fraud where the scammer had used a celebrity endorsement to trick them. Although the celebrity isn't at fault here, their reputation gets tarnished by these people impersonating them.

Always question and be sceptical of people with grandiose claims, as, more often than not, they are trying to gain your trust to pull one over on you. One rule that applies heavily to the crypto markets; if it is sounding too good to be true, it usually is.


Peter Jones, Bitcoin and Dodgy Crypto Scams

#M,
[Bored Ape Yacht Club](https://boredapeyachtclub.com/#/) is a successful NFT project, but has experienced cybersecurity flaws that continue to mire the decentralised finance space.

## What happened?

Bored Ape Yacht Club, through its Twitter handle, @BoredApeYC tweeted that there would not be any kind of minting on Monday, April 25, 2022. Representatives of the project asked holders not to mint, click or link their wallets to anything related to the Bored Ape Yacht Club project. This came after the project's Discord server and Instagram accounts were hacked due to a mint link sent out to followers of the digital collectibles by third parties.

## Why does it matter?

Through its partnership with Animoca Brands, Bored Ape Yacht Club will be launching its metaverse called "Otherside" on Saturday, April 30, 2022. With such an opportunity in sight, the hackers sent fraudulent links to users that they could "mint land" in BAYCs metaverse on or after the launch of the Otherside.

Users who were unlucky and clicked on this fraudulent link have seen their wallets compromised. What’s more, a series of Mutant Ape Yacht Club (MAYC) and Bored Ape NFTs have been transferred to the new wallets held by the hackers.

Based on the OpenSea transfers, it is estimated that around 30 Mutant Apes and 24 Bored Apes have been stolen.

This has a value of some $13.7 million, based on the floor prices of the 54 NFTs.

This number may have been inflated by holders transferring some of their Mutant Apes and Bored Apes for security reasons.

As of writing, Instagram and the company behind BAYC and MAYC, Yuga Labs, are still trying to determine how such a secured project was finally compromised.

## What's happening at the Bored Ape Yacht Club?

Bored Ape Yacht Club is the third-most successful NFT project based on sales volume after Crypto Punks and Axie Infinity.

With more than $1.8 billion in sales, BAYC is followed closely in fourth place by its sister project, the Mutant Ape Yacht Club (MAYC), which has raked in more than $1.3 billion in sales.

ApeCoin, seen as the native asset behind the Bored Apes project, is airdropping 150 million APEs to Mutant Ape and BAYC holders.

Users stand a chance of claiming up to 10,950 APEs if they hold BAYC. Users who hold the Mutant Ape Yacht Club also stand a chance of claiming 2,042 APEs.

Bored Ape Yacht Club is a non-fungible token (NFT) collection of 10,000 unique bored apes that live in the blockchain of Ethereum.

More [NFT news](/news/category/nft-news).


Bored Ape Yacht Club Social Media Accounts Hacked

This is the story of the bitcoin trader and the TV series Dragons' Den and how crypto scammers falsely used Dragons' Den as a front for a Bitcoin scam. 

There are 21 million [Bitcoin](/coins/btc) in existence, and, right now, 16.3 million have been mined and are being traded. It is widely believed that the last Bitcoin will be mined by 2140. This has made investors, enthusiasts, and others interested in the cryptocurrency.

Bitcoin is the world's most popular cryptocurrency; it is digital money to replace traditional currencies. All Bitcoin transactions are processed by a technology called blockchain, which is considered revolutionary and has the potential of changing economics and finance.

And now, Bitcoin scammers are eager to get a hold of any Bitcoin they can, and they can go to any lengths. A recent story to hit the news is how scammers used images of stars of the popular TV show Dragons' Den to lure victims into giving them the digital currency Bitcoin.
It was the story of Bitcoin trader Dragons Den and a scam to take investors' money.

These scammers use social media to post these stars' images and fake quotes to lure their victims into the con. Peter Jones and Deborah Meaden, both stars on the show, were among those whose images were used to lure unsuspecting victims.

Bitcoin trader platform claims that they offer automatic trading that helps customers make over $10,000 daily. Even claiming their customers work 20 minutes a day. Stars of Dragons' Den were a front for these outrageous claims. It was claimed that Jones invested £2 million for a 25% share, and it was falsely stated that Meaden invested £250 to test the service and made £100 in profits in eight minutes.

This isn't the first time scammers have pulled off scams like this, using pictures of famous people to lure people into making investments that are scams. Images of other Dragons' Den stars have been misused for scams like this.

In March of 2018, scammers used the faces of the stars on the Irish version of the show to promote their scam activities. These people use the faces of famous people or business magnates to lure victims because they are influential and can easily convince victims and people into making investments. The faces of business leaders Elon Musk and Bill Gates were used to scam victims in 2020.

## Dragon Den Denied Any Involvement

Dragons' Den strenuously denied involvement in this scam. Meaden herself said it's essential to do a thorough check before making online transactions because online fraud is rampant and sophisticated.

Does it sound like it might be too good to be true? Then it probably is. Online crypto scams are everywhere now and it's advisable to take care before committing to any investment online, especially where outrageous profits are promised.


Bitcoin Trader, Dragons' Den Scam. A Warning

[The Dragons' Den](https://www.bbc.co.uk/programmes/b006vq92) Bitcoin is a scam and they have stolen a lot of money from people. We will look at what Dragon's Den Bitcoin is, how you can spot this scam, and how to prevent yourself from being scammed.

The famous TV show Dragons' Den name has been used to promote illegitimate products on the Internet. Many people have lost money by investing in bogus schemes and products.

Firstly, Dragons' Den Bitcoin is not real. It was created by someone who wanted to make money from people looking for an easy way to invest in [Bitcoin](/coins/btc). It is fake. We will discuss what makes this phony investment so appealing and why people fall for it.

## What is Dragons' Den?

Dragons' Den, produced by the BBC, is a popular UK TV show. It's a reality show where aspiring entrepreneurs pitch their business ideas to experts in the business field and ask for investments. The show is famous worldwide and there are many spin-offs in other countries. The show features a panel of investors known as "dragons" who are willing to invest their own money in business ideas that they like. The Dragons' questions, interrogations, and demands can be intimidating. However, the participants are always up for the task.

## What is the Dragons' Den Bitcoin scam?

The Dragons' Den Bitcoin scam is a fake investment opportunity created to steal your money. It claims, falsely, that it is associated with the popular BBC show. The scam has different versions, but all have one thing in common: they ask you for money in exchange for an investment opportunity that does not exist. The scammers use high-pressure tactics to convince you to invest in their fake Bitcoin trading platform and steal your money. They present you with false claims about what will happen if you do not act on their offer.

Scammers have been luring unwitting investors into trading with their money by exploiting photographs of personalities from the TV show Dragons' Den. Their photographs and comments have enticed users into a get-rich-quick Bitcoin scam on websites and social media.

The Dragons Den Bitcoin scam is an example of how fake sites use the names of well-known public figures, celebrities, and TV shows to promote a get-rich-quick scheme. It’s not a real investment opportunity.

We are seeing a new twist on a classic cryptocurrency fraud, and victims are being duped out by scammers who promise high returns on investments in Bitcoin.

So far, some of the versions of the Dragons Den Bitcoin scam include:

- A fake news report claiming Deborah Meaden, one of the original investors on Dragons' Den, made a £250,000 investment in Bitcoin after seeing how it had been making people huge fortunes.
- A fake interview with Sarah Davies and Jenny Campbell, two new investors on Dragons' Den, claiming they had invested in Bitcoin after they saw how it was helping people make money.
- A fake interview with Peter Jones claiming he was starting a Bitcoin investment program after seeing how it had been making many people rich.

The fraudsters present themselves as legitimate businesses and offer exceptionally high returns on investment. But rather than investing your money, the fraudsters are stealing it. They use fake celebrity endorsements to convince people that the "opportunity" is genuine.

These scammers have no relation to the real Dragons, but hope people will be fooled into sending money for cryptocurrency investments. There are legitimate ways to invest in Bitcoin and other cryptocurrencies, but you must research these thoroughly before investing your money.

## What to look out for:

If you're offered an amazing opportunity to invest in Bitcoin or another cryptocurrency out of the blue, proceed with extreme caution – or avoid it altogether! These fraudsters are highly convincing and manipulative, often using very subtle tactics to lure you in.

The BBC has investigated several Bitcoin trading platforms and found that some are legitimate, but others are not.

It is reported that some people have lost up to £200,000 after being lured into scams by fake social media posts.

The scammers promised high returns for investors.

They'll tell you that Bitcoin is about to explode onto the mainstream market. This isn't true.

## Conclusion

Dragons' Den bitcoin is a scam. It is not legit. It's a fake get-rich-quick scheme that promises investors huge profits within a short period. People should carry out thorough checks before putting any money into schemes, especially those they hear about through unsolicited emails or adverts online.



Dragons’ Den Bitcoin: Legit or a Scam? 

You need to take care to avoid becoming the victim of crypto cons, and a new alert has been issued about visiting popular websites.

The [Washington Post](https://www.washingtonpost.com/) has warned that slightly misspelled versions of the URL, or website address, of popular cryptocurrency exchanges are being snapped up and could be used by scammers. The aim, it seems, is to take advantage of people who want to access a genuine site, but type too quickly and make a mistake.

## Misspelt URLs- Watch Out

It points to a Brazilian man who paid more than $200,000 for a handful of domains which looked like misspelt URLs of well-known crypto sites.

The article, by [Jeremy B. Merrill](https://www.washingtonpost.com/people/jeremy-b-merrill/), adds: ‘The high price paid for the web addresses, sometimes called domains, indicates someone thinks they’ll make a substantial profit. Domains ending in dot-com cost around $10 per year and scammers often rely on ones that are even cheaper.’

It quotes Stony Brook University computer science professor Nick Nikiforakis as saying: ‘There’s a very real monetisation opportunity. If someone steals your credentials, they can immediately start transferring your money out of your account.’

Merrill’s article continues: ‘And, if they do, users have no recourse, Nikiforakis said, especially because they’ve lost cryptocurrency, rather than regular money. Cryptocurrency, a form of digital money that has lately soared in price, relies on cryptography to make sure that only the owner of a “wallet” can spend the money it contains. But, once that wallet is stolen, that security works to protect the thief, meaning it’s nearly impossible to get it back — even with a court order.’

##  The Real McCoy

The Washington Post admits that it is unclear whether cryptocurrency owners have lost money to the typo websites. However, some of the websites hosted on URLs which appear to be typos of genuine crypto companies do mirror the look of the real McCoy.

The article observes that companies often buy up mistyped versions of their real web addresses to protect users against potential attacks.

Nikiforakis evaluated one of the typo URLs at The Washington Post’s request and said it ‘showed tell-tale signs of a “phishing tool kit” that provides a ready-made way to spoof common websites’.

The article adds: ‘Nikiforakis believes that such expensive domain names could be using spearphishing — a phishing campaign aimed at a small number of handpicked people. “You’re not going after me and you with a few hundred bucks in your accounts, but people with millions of dollars in their crypto accounts,” he said.

‘That contrasts with the typical business model for phishing attacks, which tend to use large numbers of cheap domains, to minimize the costs of detection. “If I buy a .xyz \[domain\] for one dollar and I can make two dollars by the time someone blocks me, I’m ahead,” he said.’

How to Avoid a Crypto Scam

'Squid Game' token has recently collapsed as it is revealed to be a scam. The token was inspired by the popular Netflix series, Squid Game.

The pre-sale for Squid Game Tokens got off to a ridiculous start on 25 October, which saw the price of one token rise to $196. Within days it had plummeted back down to just below $20.

Gizmodo has traced some transactions made by the site's founders that appear to reveal plans to move funds into offshore bank accounts.

## Reddit Thread

A Reddit thread from 29 October posted by a user called Squid\_Help tried to dispel rumours that the project was a scam. They claimed that "SquidCorp's founders have been working on the project late into the night and at weekends for several months now". The post has since been deleted, according to Gizmodo.

This type of scam is usually known as a 'rug pull' by crypto investors. It's when promoters of an ICO use fake claims to try and generate hype in order to pump up the value of their tokens, before cashing in. The scam was popularised by Wolf of Wall Street Jordan Belfort and is often known as a 'pump and dump' scheme. This is where people would buy stocks that had been tipped off to some type of positive news.

## Watch Out For Scams

The value of cryptocurrencies can be extremely volatile, which means it's easy for scammers to make money this way. There are other, more sophisticated variants of the scam that are harder to protect against.

Many people had their doubts after the website for the token had misspellings and grammatical errors. The website and social media pages have since disappeared.


Squid Game Crypto Collapses in Reported $3m Scam

#SCAM

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