Scam Alert: Bitcoin Cloud Services
Let us preface with a full disclosure. We at CCN have previously advertised for BitcoinCloudServices.com. We do not have a complicated and expensive vetting process for advertisers. If we start to receive complaints about their services, as we have with BCS, we look into them straight away. We contacted the company after receiving complaints from readers who have not received payouts, and after a reasonable period we did not receive any response. There are others in the news space who wish to use this as an opportunity to question our credibility, but here we are, telling the story, not....
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In the world of cloud-based bitcoin mining, you never know what you are going to get. Most operators should be scrutinized and researched thoroughly before signing up as there are definitely some legitimate operations. However, there are quite a bit of shady practices as well in the cloud mining space. Recently, a lot of discussions have been aimed at....
Roughly nine months ago, Bitcoin Foundation Chief Scientist Gavin Andresen made a rather interesting comment on Reddit in which he claimed, "I suspect many [cloud mining companies] will turn out to be Ponzi schemes."There have been a few cloud mining scams uncovered over the past year or two, and it appears that another one could unravel in the near future. An anonymous source has provided information to Bitcoin Magazine regarding the possibility of a Bitcoin cloud mining ponzi scheme involving Bitcoin Cloud Services (BCS), which is currently one of the largest cloud-mining providers on....
A reader wrote in to CCN, concerned about what is an obvious scam to a veteran Bitcoiner, but might actually rope new folks in with ease. The concerned reader wrote: Basically they are building a pyramid scheme (sorry, I mean binary member system), where you can buy in and get some hashing power from their cloud mining service. Also they claim, that they will release a new cryptocurrency (S-Coin), which only they will be mining. More absurdly - when the coin comes out, they claim that it will have a value of 1€ and after some time even more. Also the rewards for members are extravagant....
The latest Bitcoin scam involves fake porn virus alert that forces victims to buy freely available anti-virus software with Bitcoin. Porn is one of the widely searched content on internet. There are millions of adult websites – and many of them are known to host adware and other malicious codes. Scammers have taken advantage of this fact to convince people into sending them Bitcoin. The widespread scam is currently making rounds in Tasmania. According to news reports, scammers are sending fake pornographic virus alerts to unsuspecting computer users. The fake alert containing a....
Technology has come to that point where all businesses are migrating to cloud based services. Everything from emails, websites, file sharing to enterprise level software run on cloud services these days. Therefore, it doesn't come as a surprise that the cybercriminals are also choosing greener pastures for their business (if you can call it so). Cloud: The New Home for Cybercriminals. It was found that the number of attacks on cloud services have gradually increased in the past one year and the trend is expected to continue. Alcatel Lucent's Motive Security Labs define cloud services as....