One more – Bitcoin-related scams are a scourge and continue to claim victims every year. As a rule, the authorities are helpless in the face of these new threats and the criminals remain difficult to catch. This time, the Russian police investigated and succeeded in catching the author of false ads.
A DOZEN VICTIMS IDENTIFIED
A few days ago, the authorities arrested an individual from the city of Kazan (Russian Republic of Tatarstan). He is suspected of having defrauded a dozen Russian nationals and foreigners. According to a statement from the Ministry of Internal Affairs of the Astrakhan region, he will appear in court for “large-scale fraud” after posting false ads online.
The perpetrator posed as a seller of mining equipment who wanted to dispose of his equipment. Once potential victims showed interest, he insisted on being paid in advance. One victim reportedly paid 936,000 rubles (€15,500 at the time of writing) for equipment that was never shipped.
Through his advertisements, the fake seller is said to have amassed at least 19 million rubles, which is almost €315,000. If convicted, he faces up to 6 years behind bars.
FAKE SALE OF BITCOIN MINERS
A deception almost as old as Bitcoin itself. As you know, BTC miners provide computing power to the network to secure it. They are paid for doing so by issuing a new block (and thus Bitcoins) every 10 minutes or so.
Bitcoin mining therefore attracts BTC holders who hope for a passive return through mining. But, you have to be aware of the business you’re getting into, as it’s a fast-moving industry. Returns also depend on certain fundamentals. It is therefore necessary to master the news of the chain in question.
Ethereum’s transition to a Proof of Stake consensus via “The Merge” is a textbook case to illustrate the evolution of an activity like mining. This event can be an opportunity to implement several strategies.
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