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 #269  by Kuya Noli
 
The Bitcoin Code
The so-called “Bitcoin Code” is a scam operation whose website is continually changing. Like many scams, the website offers a service which is said to predict market trends and automate trading for users guaranteeing ridiculous gains such as “$13,000 in exactly 24 hours.”

While some may marvel at how anybody in their right mind could fall for such an outrageous claim, people knowing nothing about bitcoin often allow their lack of knowledge to woo them into thinking such things just might be possible. They also tend to imagine needing an expert’s guidance to “buy in,” or that crypto is a centralized affair like stock market brokerage. Many are too afraid of missing out.

Bitcoin Doubler
“Bitcoin Doubler” is another scam model, featured on multiple websites, such as this one. Like Bitcoin Code, doublers promise insane gains in short periods of time, preying on the naivety and financial desperation of victims.

Spelling and grammatical errors such as those found on this “bitcoin doubler” site are common red flags.
These sites typically ask the user to enter an email and a bitcoin address, followed by a deposit. They are then instructed to wait for their big returns to arrive within mere days or hours. The returns, of course, do not arrive, and the only thing doubled is the mark’s financial woes.

Bitcoin Trader
Rounding out the list of scams sites is another “autotrader” scheme called Bitcoin Trader. As is common with crypto cons, urgent messages about a lack of time left to invest or get in, misappropriated images and video of famous millionaire or billionaire investors speaking highly of bitcoin, and location-customized “news” of the latest individual to make a killing are all present.

Common elements of bitcoin scams include urgent “time’s running out” messages, location-specific announcements of fake people nearby making money, and misappropriated celebrity endorsements of bitcoin.
Another dead giveaway that this “Bitcoin Trader” site is a scam is that it shares the exact same promotional text as featured on the Bitcoin Code site. Both sites maintain that “Like any business, you need working capital to get started,” and request the same amount of $250 to begin.