Beware of the many scams out there…
Bitcoin scam instances closely track Bitcoin price movements.
A surge in scam operations occurred in the first week of March, just prior to the Winklevoss ETF decision announcement and when Bitcoin price equaled with that of an ounce of gold for the first time.
During this time, Bitcoin’s price also spiked.
Social media plays a significant role in the propagation of spurious schemes, echoing behavior of longer-established suspected Ponzi schemes such as OneCoin and most other MLM opportunities.
“Historically, all curated Bitcoin scam URLs were shared a staggering 126,276,549 times within social media posts. This number was skewed upward by two specific URLs that’ve been shared over 40m times and two others that were shared over 10m times,” the company continues.
Bitcoin Price Movements Cause Scams Ebb And Flow: Report
New research has found Bitcoin scam instances come and go with increases in Bitcoin’s price.
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