2019 was a big year for Bitcoin scams
The Hustle

2019 was a big year for Bitcoin scams

Cryptocurrency is gaining wider acceptance, but that’s not always a good thing.

Bitcoin is still a fringe currency, but it’s catching on in a crime-infested corner of the internet, The New York Times reports.

This week, the crypto-crime watchers Chainalysis found that the total amount of sales on “darknet” markets (the sketchy parts of the web) grew 70% last year, to more than $790m worth of crypto-cash.

Bitcoin is gaining wider acceptance — but more people are getting ripped off

Illicit transactions make up a tiny fraction of all crypto flow: just 1.1%. Still:

The Chainalysis report says 3 threads tie all this sketchy activity together:

Scams are the biggest threat. Think you’ll strike gold buying Bitcoin? You might just be a sucker.

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