Connect with us

Bitcoin

Fake Bakkt platform announces launch and ‘promises’ 27.5% return on investments; gets red-flagged

Jibin M George

Published

on

Fake Bakkt platform announces launch and 'promises' 27.5% return on investments; gets red-flagged
Source: Pixabay

In what would be another addition in the list of unusual news this year, someone or some parties have been caught red-handed impersonating the exchange platform Bakkt. The act was uncovered after someone claiming to represent Bakkt sent emails to news agencies and appealed for funds.

In what seems to have been a coordinated attempt at outreach, the party, claiming to represent Bakkt, sent emails to several people and organizations in the cryptocurrency world last night. The email, sent by a Gmail address (a red flag already), stated:

Source: Cryptonlinenews.com

The email also includes a link that redirects the user to a webpage, bakktplatform.io, supposedly the homepage for the endeavor. The page in question invites and solicits all investors to join the platform if they “believe in the future of the cryptocurrency market”. The platform seeks $50 million in what it claims to be the second round of Bakkt fundraising and asked investors to make contributions to the platform’s Bitcoin wallet through a minimum transaction value of $100 and a maximum of $25,000.

The platform in question also promises its investors a guaranteed 27.5% return on their investments. The homepage also goes on to announce a launch date of March 12, despite the fact that no such date for Bakkt has been announced on any other media anywhere.

Source: bakktplatform.io

Like the email, the page itself has a lot of red flags. The home page, which is now archived, is littered with spelling and grammatical mistakes. The language apart, it displays no information or links to any of the exchanges the platform claims to be partners with. Further, some investigations have suggested that the website was launched on the back of a domain-owner obscuring service, further implicating the party behind the website as an impostor.



Source: bakktplatform.io

Intercontinental Exchange, the parent company behind Bakkt, has already confirmed the fact that the platform is a fraud and that there has been no communication between them and the party behind bakktplatform.io.

As of now, no coin has been verified to have been sent to the Bitcoin wallet address in question. In fact, considering how bad the scammers in question have been at trying to impersonate Bakkt,  it doesn’t seem like anyone is going to fall for this fraud.





Subscribe to AMBCrypto’s Newsletter


Bitcoin

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content

Priya

Published

on

By

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content
Source: Unsplash

Bitcoin [BTC], the largest cryptocurrency in the world has gained a lot of mainstream media attention over the years. However, most media houses have often failed to deliver the message to the masses, with the main reason being lack of research and knowledge of the subject. The cryptocurrency was thrown back into the spotlight after CBS released a teaser to their latest “60 Minutes” episode, unveiling a few influencers of the industry, speaking about their experience.

The episode, which released on 19 May 2019, immediately grabbed the attention of the cryptocurrency space, with a majority wondering whether the media channel would nail it or fail it. Interestingly, there was a poll conducted on Bitcoin Talk, where the question was ‘CBS 60 Minutes 5/19/19 on Bitcoin. Will it cause FOMO or FUD?’

Source: Bitcoin Talk

Source: Bitcoin Talk

60 Minutes, broadcast on the CBS Network is one of the oldest and most-watched American television programs, with the focus being “the real story on America’s most prevalent issues”. According to CBS, 60 Minutes has an average of 11.4 million viewers and about a million people who listen to its radio broadcast and podcast.

The show titled ‘Bitcoin’s Wild Ride’ aired hours ago, and covered the story of Charlie Shrem, the founder of BitInstant, Laszlo Hanyecz, the famous pizza guy who is recognized as the first person to make a real-world transaction with Bitcoin, and Marco Streng, the CEO of Genesis Mining. The segment also had Neha Narula, the Director of Digital Currency Initiative at MIT Media Lab, answering questions pertaining to the coin, and Lael Brainard, a member of the US Federal Reserve, speaking about why not Bitcoin.

The show was briefly explained by a Redditor, EternitySphere,

Source: Reddit

Source: Reddit

Unlike other mainstream Bitcoin segments, this segment was well-received by the Bitcoin community after a majority agreed that it did not spread FUD and that it was an unbiased episode, contrary to expectations. However, there were few concerns pertaining to a lack of content, with some believing that it failed to explain key information; which includes how it derives it value, albeit there was no FUD.



Franky1 commented on Bitcoin Talk,

“[…] next was the whole describing mining segment involving genesis mining.(facepalm) ASIC’s do not store records(asics have no hard drive).. so saying the mining done by genesis is the location where records are kept can be misguiding people to think genesis mining are ‘the bank’ and user software just ‘watches the numbers and letters'[…]”

Source: Reddit

Source: Reddit

Rdbase also remarked on the Bitcoin forum,

“The whole segment was about charlie shrem known as bitcoin moses and his fall into bad luck with taking a payment which was used to buy illegal things on the dark web. It did have some good points but overall it was just directed towards the public view about it. As a skeptical thing to use and banks were safer with its fiat financial system”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending