Study Highlights the Most Common NFT Scams Amid the Current Mainstream Hype
As non-fungible tokens (NFTs) are becoming a global phenomenon increasingly due to their mainstream adoption, there are also concerns about the surge of related scams. A recent study revealed the most common NFT scams that are spreading on the net. Suspicious Domain Registrations With ‘NFT’ Word Surged 250% in March 2021 According to the research conducted by security experts of Bolster, replica stores are on a bullish trend, as the recent figures show a boost in the number of domain registrations. Scammers have been actively setting up replica stores with suspicious-looking....
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A recent study by Gartner has shown that blockchain has reached the ‘peak of inflated expectations’ phase of the hype cycle as the chief architect of ACI Worldwide states that the distributed ledger technology is not yet able to handle financial transactions at scale. The study by Gartner ‘Hype Cycle for Emerging Technologies, 2016,’ found that blockchain won’t reach mainstream adoption for another five to ten years. According to Mike Walker, research director at Gartner, the Hype Cycle for Emerging Technologies report is the longest-running, providing an overview of what technologies are....
Scams are shattering mainstream confidence in crypto, perhaps irreparably. A large-scale, coordinated education initiative can help ensure that they don’t. The common narrative around the prevailing threats to mainstream adoption of cryptocurrencies is that regulators will put the kibosh on their legality, it has to get much easier for “ordinary” people to use, and the magnitude of its volatility has to be tempered.All of these are true. But there’s something perhaps just as consequential: scams, hacks, fraudulent exchanges, dumps and the like. Why? Every attack leaves a scar. And the....
The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams.
Uruguay Educates on Crypto-Related Scams
More and more government bodies are becoming aware of how some parties are using crypto to execute different kinds of scams, and also more of these institutions are working to educate citizens on this fact. The Ministry of the....
While Bitcoin may not replace the U.S. dollar anytime soon, the underlying technology of the blockchain is certainly generating hype among mainstream financial institutions. Startups experimenting with blockchain technology for financial institutions are already receiving funding from banks like JPMorgan. In fact, in an Emerging Theme Radar note sent to its clients, Goldman Sachs has declared that the technology has the capability of drastic change. “While the Bitcoin hype cycle has gone quiet, Silicon Valley and Wall Street are betting that the underlying technology behind it, the....
Should you be worried about the previous or the next Bitcoin Scam? Bitcoin adoption is seeing a rapid surge across the world in recent months. The latest report of Juniper Research's forecast on the Bitcoin community hitting 5 million users by end of 2019 doesn't come as a surprise. As its adoption grows, the number of people trying to scam the users of their Bitcoin also grows. Using Common Sense against Bitcoin Scams. No, you don't have to be worried about Bitcoin scams. All you have to do is, ask a few questions and do some basic research to make sure that you have covered all your....