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New Bitcoin Doubler Is An Obvious HYIP Ponzi

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For some reason, there are still plenty of digital currency owners who invest in obvious scams. Whenever a new service launches that claims to double your money in a very short amount of time, it is clear for everyone to see this type of Ponzi scheme will run out of money sooner rather than later. The latest Bitcoin Ponzi scheme to pop up is nothing more than a random thread on the Bitcointalk forums.

Also read: LoanBase Users Lose 8 Bitcoin Due To Data Breach

Instant Bitcoin Doubler Ponzi

TheMerkle_HYIP Ponzi Bitcoin

It goes without saying that every Bitcoin owner would like nothing more than to double their money in the blink of an eye. After all, greed is a part of human nature, and whenever finances are involved, people’s eyes will turn into dollar signs rather quickly. At the same time, there are Internet criminals looking to take advantage of people’s greed, by offering HYIP services that will not run for all that long.

A new thread was posted on the Bitcointalk forums today, advertising nothing more than an empty promise of a random user to double your bitcoins.  What makes this project even worse is how the owner didn’t even bother to create a website for the project, as he/she expects people to donate funds to the address linked to the topic.

What makes this project even more worrying is how the owners claims to offer this service as a beta testing period for a magic Bitcoin doubler engine. Needless to say, no one will double anyone’s money free of charge without expecting to gain something from doing so. In the case of so-called Bitcoin doublers, the chances are close to 100% no one will ever see their original investment again, let alone a profit.

But things get even more ludicrous, as the topic owner claims that every Bitcoin address will only be eligible for one doubling. While several users have posted a transaction that is sending back double their original investment amount, nearly all of these transfers remain unconfirmed. Unfortunately for Bitcoin users, unconfirmed transactions are not a valid proof of this service working as intended.

Some users are reporting how the topic starter is looking to execute a double spend on the funds he is claiming to return to investors. Doing so will generate a ton of unconfirmed transactions origination from the scammer’s wallet address, lending some credibility to his scheme. But in the end, users are losing their funds in front of their own eyes,

Source: Bitcointalk

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