No matter what happens in the future, cryptocurrency and Bitcoin are always going to have that association with scams, hacks and everything in between.
This is something that will be hard to clean off the the name of bitcoin in the years to come. Recent events aren’t going to help that cleaning process either as a recent email is floating around for financial advisors, scammers have been impersonating the UK’s Financial Conduct Authority (FCA) luring victims into a trap with Bitcoin.
The email features the FCA’s maroon branding and logo and also features branding from the UK financial services regulatory body, the Prudential Regulation.
According to the the Next Web, the subject line for the fraudulent communication was “Guaranteed chance to earn.” In the body of the email, there is a paragraph of text that claims the leading cryptocurrency is getting ready to rise in value over the next 12 months.
The email purportedly reads:
“Bitcoin is still a long way off its peak price of $20,000, which it reached in 2017, but some cryptocurrency experts believe it could hit an even higher value by 2020.”
Those who receive the email are encouraged to click on the call to action button that also is covered in fake FCA branding. The FCA has now confirmed that it did not send the email and that it is a fraudulent one.
FT Advisor was seemingly made aware of this after an independent financial advisor took to Twitter this week having received the scam communication five times last weekend.
The FCA said to the FT, “the correspondence is likely to be linked to organized fraud and we strongly advise you not to respond to the criminals in any way.”
As we say, Bitcoin and cryptocurrencies will always be associated with scams, hacks and more fraudulent activities.
Maybe at some point in the future, cryptocurrency will be able to rid the stain of these con artists, but as long as they are still trying to dupe people out of their cryptocurrency, adoption will be a hard thing to reach.