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After five years of being silent, an X account that purportedly belongs to Bitcoin’s pseudonymous founder Satoshi Nakamoto has resurfaced.  Plans for the Bitcoin White Paper The last time any post was made by the Satoshi Nakamoto entity on the X app was on October 31, 2018, and since that time, nothing has been heard from the account. In the mid-morning hours of October 2, a post featuring the leading digital asset was posted by the account. In the post, Bitcoin was called a ‘predicate machine’ that contains certain unexplored aspects that are important. The pseudonymous creator promises to delve into these aspects which were not explicitly disclosed within the Bitcoin whitepaper in the coming months. #BTC #crypto2023 #CryptoTalks #cryptonews

After five years of being silent, an X account that purportedly belongs to Bitcoin’s pseudonymous founder Satoshi Nakamoto has resurfaced. 

Plans for the Bitcoin White Paper

The last time any post was made by the Satoshi Nakamoto entity on the X app was on October 31, 2018, and since that time, nothing has been heard from the account. In the mid-morning hours of October 2, a post featuring the leading digital asset was posted by the account.

In the post, Bitcoin was called a ‘predicate machine’ that contains certain unexplored aspects that are important. The pseudonymous creator promises to delve into these aspects which were not explicitly disclosed within the Bitcoin whitepaper in the coming months.

#BTC #crypto2023 #CryptoTalks #cryptonews

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5. Man-in-the-middle attacks When users log in to a cryptocurrency account in a public location, scammers can steal their private, sensitive information. A scammer can intercept any information sent over a public network, including passwords, cryptocurrency wallet keys and account information. Anytime a user is logged in, a thief can gather this sensitive information by using the man-in-the-middle attack approach. This is done by intercepting Wi-Fi signals on trusted networks if they are in proximity. The best way to avoid these attacks is to block the man in the middle by using a virtual private network (VPN). The VPN encrypts all the data being transmitted, so thieves cannot access personal information and steal cryptocurrency. 6. Social media cryptocurrency giveaway scams There are many fraudulent posts on social media outlets promising bitcoin giveaways. Some of these scams also include fake celebrity accounts promoting the giveaway to lure people in. However, when someone clicks on the giveaway, they are taken to a fraudulent site asking for verification to receive the bitcoin. The verification process includes making a payment to prove the account is legitimate. The victim can lose this payment -- or, worse yet, click on a malicious link and have their personal information and cryptocurrency stolen. 7. Ponzi schemes Ponzi schemes pay older investors with the proceeds from new ones. To get fresh investors, cryptocurrency scammers will lure new investors with bitcoin. It's a scheme that runs in circles, because there are no legitimate investments; it is all about targeting new investors for money. The main lure of a Ponzi scheme is the promise of huge profits with little risk. There are always risks with these investments, however, and there are no guaranteed returns. 8. Fake cryptocurrency exchanges Scammers might lure investors in with promises of a great cryptocurrency exchange -- maybe even some additional bitcoin. But in reality, there is no exchange and the investor does not know it's fake until after they lose their deposit. #ScamRiskWarning
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2. Rug pull scams Rug pull scams involve investment scammers "pumping up" a new project, non-fungible token (NFT) or coin to get funding. After the scammers get the money, they disappear with it. The coding for these investments prevents people from selling the bitcoin after purchase, so investors are left with a valueless investment. A popular version of this scam was the Squid coin scam, named after the popular Netflix series Squid Game. Investors had to play to earn cryptocurrency: People would buy tokens for online games and earn more later to exchange for other cryptocurrencies. The price of the Squid token went from being worth 1 cent to about $90 per token. Eventually, trading stopped and the money disappeared. The token value then reached zero as people attempted but failed to sell their tokens. The scammers made about $3 million from these investors. Rug pull scams are also common for NFTs, which are one-of-a-kind digital assets. 3. Romance scams Dating apps are no stranger to crypto scams. These scams involve relationships -- typically long-distance and strictly online -- where one party takes time to gain the other party's trust. Over time, one party starts to convince the other to buy or give money in some form of cryptocurrency. After getting the money, the dating scammer disappears. These scams are also referred to as "pig butchering scams." 4. Phishing scams Phishing scams have been around for some time but are still popular. Scammers send emails with malicious links to a fake website to gather personal details, such as cryptocurrency wallet key information. Unlike passwords, users only get one unique private key to digital wallets. But if a private key is stolen, it is troublesome to change this key. Each key is unique to a wallet; so, to update this key, the person needs to create a new wallet. To avoid phishing scams, never enter secure information from an email link. Always go directly to the site, no matter how legitimate the website or link appear. to be continued.... #ScamRiskWarning
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1. Bitcoin investment schemes In bitcoin investment schemes, scammers contact investors claiming to be seasoned "investment managers." As part of the scheme, the so-called investment managers claim to have made millions investing in cryptocurrency and promise their victims that they will make money with investments. To get started, the scammers request an upfront fee. Then, instead of making money, the thieves simply steal the upfront fees. The scammers might also request personal identification information, claiming it's to transfer or deposit funds, and thus gain access to a person's cryptocurrency. Another type of investment scam involves using fake celebrity endorsements. Scammers take real photos and impose them on fake accounts, ads or articles to make it appear as though the celebrity is promoting a large financial gain from the investment. The sources for these claims appear to be legitimate, using reputable company names such as ABC or CBS with a professional-looking website and logos. However, the endorsement is fake. #ScamRiskWarning
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11 common cryptocurrency scams in 2024 Cryptocurrency scams are rising, and thieves are using new and old techniques to steal money. Some of the latest scams involve rug pull scams, Ponzi schemes and phishing scams. Where money is concerned, scams always follow. And the same is true with cryptocurrency. In February 2022, cryptocurrency exchange platform Wormhole lost $320 million after a cyber attack. In addition to this attack, cryptocurrency scammers have stolen more than $1 billion since 2021, according to a report by the Federal Trade Commission. Lloyds Banking Group in the U.K. reported cryptocurrency scams were up 23% in 2023 over the same period in 2022. During the first half of 2023, cryptocurrency scams were down. However, the number of scams increased significantly in the third quarter of 2023, according to bug bounty platform Immunefi's report. Part of the increase was from the Mixin hack on Sept. 25 when attackers stole nearly $200 million. Digital currency is a form of currency stored in a digital wallet, and the owner can turn currency into cash by transferring it to a bank account. Cryptocurrency, such as bitcoin, is different from digital currency. It uses blockchain for verification and no central authority such as a bank, so it is harder to recover from theft. in next topic we are going to talk about 11 common crypto scams #ScamRiskWarning
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What Are the Most Popular Crypto Scams to Watch For in 2024 The number of financial scams for consumers to avoid was already nearly endless, but this figure exploded when digital currency — also called cryptocurrency — became mainstream. According to the Federal Trade Commission (FTC), more than 46,000 people reported losing over $1 billion in crypto to various scams from January 2021 through June of 2022, and that figure only includes people who willingly shared this information with authorities. The fact is, consumers tend to know very little when it comes to how digital currency works or how to keep their digital assets safe. And since cryptocurrency payments do not come with any legal protections or government assurances, crypto scams are especially attractive for thieves. Also note that there's no bank or other centralized authority to flag suspicious crypto transactions, and that all crypto transfers are irreversible. With these details in mind, it's easy to see why the industry is ripe for fraud. If you are interested in investing in crypto or you have digital assets already, you'll want to know how the most common types of crypto scams work, how to spot them and what you can do if you become a victim. Read on to get an overview of the most common crypto scams authorities are seeing right now, plus how to spot them early #ScamRiskWarning
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