Top 5 CryptoCurrency Exit Scams – Million Lost in Crypto Scams

It is always advised to all investors that if you don’t know anything about any market or business then don’t do any investment or else you will be scammed or you will suffer a huge loss. People with the hope of getting huge return invest in cryptocurrency but they get trapped by scammers and they lose all their money, It is always advised to invest in the right coin and don’t fall in words of anyone.

Today you will read the top 5 cryptocurrency scams of all time that we figured out to be massive are as follows:


Bit connect in recent time was collapsed and exposed to be a Ponzi scheme (known closely to be a pyramid scheme, a multi-level marketing scheme ). No argument or validation was there to confirm as to where from the profit is being made. But clearly, the new and fresh investors were the source of profit of it being a pyramid scheme. Claimed to deliver 1-2% borrowing rate per day.

It had relatively $1 billion market capital which is unanticipated for the value of a single BCC [BitConnect Coin(the bit connect exchange currency)] is $0. It also had a lending program which allowed the investors to lend there BCC.

Now, the investors have filed a lawsuit against the company that slumped overnight from $290 to $8, seeking a compensation of $700,000 by particulars.

2. ONE COIN scam:

A Ponzi scheme as One Coin is identified to be, is a Bulgarian company that conned a number of investors without any ledger.
It is revealed to be an absolute red flag which promises passive revenues and the members receive a commission for recruiting others to purchase the coins. Never had a functional product or a functional blockchain which is much needed to legitimize your investment.

Claimed to allow a transaction worldwide which turned out to be a big failure as obviously it is not possible without a functional blockchain. A scam of around $3 billion.


These are two different fraudulent ICO names but run by mutual operators or business partners having own apparel as company Modern Tech based in Vietnam.A scam of allegedly stealing $660 million, these two ICO’s are based on ECR20 tokens which are easy to develop and hence hold a considerably enormous chance of deceit.

iFan itself was advertised and retailed as most advanced social network platform linking various virtuous to their fans, for as much as its fundamental currency, it was used for making purchases related to the artist’s albums, merchandises or performances while PinCoin was openly marketed as an investment opportunity.

4. PLEX COIN scam:

The company claims to return 13 folds in less than a month(29 days). Comparable to all other false companies, they made their hands on bringing Plex coins in reality by accomplishing a Plex bank, Plex card, Plex wallet that would bring the Plex coins in existence from virtuality by their withdrawal.

SEC stepped in and got involved in the matter launching emergency action against PlexCoin and obtaining an emergency freeze to halt their services.

5.CENTRA scam:

This was a scam that happened to be by a company titled Centra Tech. This ICO heightened $32 million CTR (Centra coin, then the native currency of Centra) from the Investors and was endorsed and hiked by few celebrities (Boxer Floyd Mayweather and Producer DJ Khaled).
The company made a false claim of a tie-up with the Master card and Visa to make the transactions from virtual to real world lest it could be used as regular cards.

It infact, stated its objective of constructing “World’s first multi-block chain debit and smart card ensured wallet”. They also were developed to work with five different major cryptocurrencies which even admits Bitcoin, Ethereum and Litecoin.

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