Bakkt Already Being Used By Scammers For Bitcoin Gains

Scams in the crypto space are unfortunately nothing new. There have been many fraudsters out there impersonating the Ethereum co-founder, Vitalik Buterin or the ‘CEO’ of Dogecoin Elon Musk and other prominent figures in order to reel in their victims. They're a bit like Pennywise but not quite as scary…

Well just days after its launch we’re seeing these fraudsters take the appearance of bitcoin futures on the new Bakkt platform.

According to a whois URL lookup, it seems that these con artists launched a fake website dubbed, Bakktlaunch.com earlier this week. It seems this was to capitalise on the recent launch of the actual Bakkt futures platofrm which saw release earlier this week.

The false site didn’t stop there though as they also imitated the legitimate bakkt medium page and claimed to offer a “Bakkt official BTC and ETH giveaway.” 

Despite having big goals, these con artists weren’t very creative in their endeavour. They ripped- off an official description of Bakkt which mentions the platforms ‘warehouse’ in being protected by $125 million,

As covered by The Next Web, the fraudulent site aimed to encourage “users to click a link to receive either Bitcoin or Ethereum. On clicking links one is presented with an all too familiar scene. A page which asks you to deposit a small amount of cryptocurrency to “verify your address,” and claims that you will receive back a greater amount of BTC or ETH, afterwards.”

This is why it’s so important to do your own research before putting your money in a cryptocurrency or in this case even going into a crypto giveaway, and always remember to trade safe!

It’s unknown how many people were fooled into doing this giveaway however it’s not uncommon for these scams to be prominent in the space.

For more news on this and other crypto updates, keep it with CryptoDaily!