The cryptocurrency world has seen its fair share of scams, Ponzi Schemes, and other programs where people lost a lot of money. Some of those projects will always stand out, mostly due to their sheer size. Interestingly enough, some scam coins have made an impact on the ecosystem as well. Only one of the currencies listed below is still in operation today, and they are being scrutinized by law enforcement agencies as we speak.
#3 The Billion Coin
With a name such as The Billion Coin, it is not hard to see why this cryptocurrency has been labeled as a scam. This Ponzi Scheme advertised itself earlier in 2016 as the biggest cryptocurrency, even dethroning bitcoin. As one would come to expect from this malicious schemes, The Billion Coin claims its value will always go up. TBC mainly targets users in Indonesia, and a lot of innocent people fall victim to this scheme.
However, with no source code – hence no currency to speak of – and no whitepaper – it becomes evident this project is selling nothing but hot air. There is no development roadmap either, indicating there is no one developing this project. Even the block explorer seems suspicious, which is not surprising considering there is no technology powering this scam. Moreover, it is not possible to exchange The Billion Coin anywhere, as no exchange wants to list it.
#2 PayCoin
Everyone in the cryptocurrency world has heard of PayCoin, an infamous cryptocurrency scheme operated by Homero Joshua Garza. PayCoin portrayed itself as a global currency that could compete with bitcoin, yet never lived up to that expectation. Mining Paycoin could only occur through the company’s proprietary cloud mining platform, called Zenminer.
GAW Miners, the company operating Zenminer and PayCoin, once claimed a US$8m investment was made in the platform, but that information was completely bogus. Things unraveled for Paycoin once Zenminer started attracting a lot of money, eventually leading to all withdrawals being suspended indefinitely. All platforms who listed PayCoin for trading purposes promptly removed XPY shortly afterward. It remains unclear how much money has been lost due to the PayCoin scam to this very day.
#1 OneCoin
When talking about cryptocurrency scams, one should look no further than OneCoin. Similarly to The Billion Coin, OneCoin has no technological infrastructure, no development, and no white paper. This entire ecosystem is created out of thin air, yet it continues to attract investments from unknowing consumers all over the world.
Thankfully, OneCoin is meeting a lot of resistance from various governments all over the world. The London Police is actively investigating this pyramid scheme. Plus, Italy has banned OneCoin activity due to an ongoing fraud investigation. Bringing down this scheme once and for all could be challenging, but things are heading in the right direction.
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Why stop at 3?
I like you.
What about Dascoin?
I often prefer short articles over long ones, but this topic deserves way more characters than it is currently written. Never mind me.
Wait and watch you will shortly see the miracle happen…
hmmm
OneCoin clone. Actual blockchain. But 100% pump& dump scam, club coin
buy the billion coin TBC for only 200$ immidiately this is a promo and it will end by 1- AUGUS – 2017 . the billion coin is too REAL i’ve made millillions with it i also use it to BUY CAR and MOBILE PHONES. Don’t let it to be to late grab this opportunity now. CALL – 09071107745
buy the billion coin TBC for only 200$ immidiately this is a promo and it will end by 1- AUGUS – 2017 . the billion coin is too REAL i’ve made millillions with it i also use it to BUY CAR and MOBILE PHONES. Don’t let it to be to late grab this opportunity now. CALL – 09071107745
buy the billion coin TBC for only 200$ immidiately this is a promo and it will end by 1- AUGUST – 2017 . the billion coin is too REAL i’ve made millillions with it i also use it to BUY CAR and MOBILE PHONES. Don’t let it to be to late grab this opportunity now. CALL – 09071107745
buy the billion coin TBC for only 200$ immidiately this is a promo and it will end by 1- AUGUS – 2017 . the billion coin is too REAL i’ve made millillions with it i also use it to BUY CAR and MOBILE PHONES. Don’t let it to be to late grab this opportunity now. CALL – 09071107745.
You actually do have rocks for brains, don’t you? Just Wow. Please do the world and Darwin a favour: don’t reproduce. I’ll send you $100 in bitcoin if you PROVE that you’ve had a vasectomy and that your DNA will not be passed down to anyone else. Ever. We don’t need more stupid people who believe every bit of magic they’re told is “true.”
Please help us save the planet.
Friends don’t let friends Onecoin
This clown posts this many times and I can’t even link pertinent documents and info in my comments. Lol
It’s already 2 months after after your post. Where is the miracle. hahahahahahahaha
You are HIGHLY incorrect sir. TBC IS in fact a true crypto currency and is used in the USA, UK, Africa and other continents. You can even exchange it for BTC and vice versa. You can purchase food, houses, land, cars, clothing, shoes, Iphones, computers, etc.. You should REALLY do your research before making such INCORRECT statements.
Bill Gates backs up Onecoin, although, I have to admit, I know nothing about that coin. As far as TBC, it is far from a scam and you need to definitely look more into it before putting it down. The TBC community is where we exchange, purchase, sell, and trade the coin and merchandise. There is even an exchange site for your TBC to BTC.
HAHAHAHAHA!!!
Really , then I’m sure you will gladly buy all of mine .
if you think it is not real, why have me purchase them… Give me the fake currency 🙂
Bill Gates does NOT back OneCoin
TBC is NOT being used in the USA
If so, give me a merchant list and .025 TBC. I love shopping.
The exchange site for TBC was created by TBC and/or a TBC member.
The value of TBC is supposedly higher than the value of BTC BUT anyone who sells TBC are selling them for pennies on the dollar.
There is also a public policy that if any TBC member sells TBC for below their inflated publicized value, then TBC will lock your wallet for 6 months. So they own your wallet too? They dictate the price rather than letting market forces dictate the price?
I just went to the site. Here’s the quoted value: 1 TBC = 17.21458237 BTC
So you really believe that 1 TBC = $44,000.00 ?
And of course no public source code nor white paper nor public listing.
I only talk about facts … No Emotion
You are going to get kicked out of their community if you sell for $200. They say you can only sell at market value. Current publicly posted price is $44,000. If you’ve made millions with it, then why are you on a blog trying to sell it for $200? Sell it for $44,000 or at least $4000. Any takers?
Okay. Let me ask a simple question. WHERE in the USA is TBC being used?
Oh don’t be ridiculous. Bill Gates does NOT support Onecoin. Where are you getting your facts? Your statement is not justified by any research or credible sources. Bill Gates supports CRYPTOCURRENCY. Many onecoiners took his video where he talks about cryptocurrency and they show that as if he supports onecoin. Really? Your facts are non-existent. You have yet to show any FACTS. Oh yeah… you don’t have time to show adults anything as you’ve said. You asked that we research it for ourselves. DONE!
You’re in la la land. Someone is feeding you snake oil in a whisky bottle. You have yet to show any credible evidence of your claims. You haven’t even shown non-credible evidence of your claims. I’ve done my homework. There are no merchants in the USA accepting Onecoin nor TBC as payment. If TBC was used in the USA, you’d be the first to proudly shout the name of the merchants. … no where to be found.
According to your logic than, Richard Branson has also done many videos on #Onecoin, right? Funny, cause he issued a statement that he has nothing to do worth nor does he support Onecoin. You can Google Branson, Onecoin, The Mirror and find it yourself. I’d link it directly but the comment would bee forever pending.
Onecoin is simply a nasty scam and so is TBC. Your a deluded lunatic and naive victim of you think otherwise.
Hahahahahahahaha 😉
LOL! OMG! Honey. Go back and watch those videos. Those videos have been in existence for quite some time. Bill Gates is being interviewed about CRYPTOCURRENCY and at that time specifically BITCOIN. He also supports Blockchain technology. So the OneCoin people downloaded the video from youtube. Then the OneCoiners edited the video and uploaded the video to THEIR youtube channel. Then people like you who have a problem with determining the difference between REAL and FAKE truly believe that Bill Gates supports OneCoin. Well go back and view the videos in its entirety. Then tell me how many times Bill Gates or the interviewer mentions OneCoin. The answer is ZERO. The people are being duped and I don’t blame the OneCoiners. I blame our educational system that doesn’t teach the people how to view, analyze, and use their God-Given critical analysis skills to conclude the obvious. This, my dear Tay, is the easiest thing to review and conclude. Now go watch those videos again. Even a 3rd grader would have noticed that…
Not your job to educate adults? Okay. fair enough. I’ve done my ‘simple research’. The answer is NOWHERE in the USA is TBC being used to transact e-commerce or commerce.
Gates does not back One Coin
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Mr. JP..
My advice to you and all those who are criticizing other crypto currency is that better you enjoy your currency and contribute to make it more popular by educating rather than wasting your time by criticizing. So far crypto currency is just introduced so many people are still not aware about this. If you guys start posting negative articles which will obviously make confuse to them. You can prove yourself better and your currency better by dominating others. All crypto currency has their own value. People are much aware about what they are doing. If people wants to take risk then let them. When bit coin was just started I don’t need to explain here what it had gone through and now where it is. So don’t dominate others before they prove themself what they are. Since crypto currency is new for all governments, some are regulating some still look and see position. It is too early to blame others saying scam.
Hope you understand what I mean..
Thanks…
What about UTA-Coin with built in MLM
Bro sent me datails about edinar coin please
TBC and OneCoin are not cryptocurrencies so how can they be scamcoins? They are NON-Coins. LOL! I can point out a LOT of scamcoins out of the 850 listed on Poloniex. They have blockchains. They have public source. They have roadmaps. They have whitepapers. So those 4 parameters doesn’t make a coin legitimate. But of course without them, it makes is scammy appearing of course. I can also say the same for the gazillion ICOs that are being launched. They have wonderful marketing pieces, no coin, sketchy white papers, no source. But shucks! We’re happy giving them $100million as we salivate as dreams of profit candycanes dance through our greedy heads.
7 months…
There is a Bitcoin cash scrypt also a scam coin with virus in the wallet to turn your PC at risk.
u mean 850 listed on coinmarketcap? poloniex never had that many coins.
Yes that is what I meant. My tiny fingers just go crazy at times. And right now it is over 1200 on coinmarketcap!
What about ATB coin…big scam IMO.