2. Who I'm
Co-Founder of Hackerspace Progressbar
Senior Editor at Bitcoiner.sk
Maintainer of Slovak Bitcoin Forum Coinunity.sk
Frequent irc troll
3. What's Scam?
US carnival slang. Possibly from scamp (“swindler,
cheater”)
The word "scam" became common use among the US
"drug culture" in early 1980 after Operation ABSCAM,
an FBI sting operation directed at public officials,
became public.
4. What's Scam?
To trick or cheat someone out of their
posession(s). A ripoff.
The Internet is littered with scams such as pop-
up ads or email spam ads with "Get Rich
Quick/High-Paying Job/You Are A Winner"
messages.
6. MtGox
(Magic: The Gathering Online
Exchange)
launched in July 2010
founded by Jed McCaleb
6/3/2011 Transfered to Mark Karpeles
70% of the world's bitcoin trades by April 2013
7. MtGox
controlled implosion since 2012
frequently delayed/refused/stoped withdrawals
19/7/2011 Mt.Gox auditor's computer compromised
(~$8,5M)
7/2/2014 withdrawals halted due to transaction
malleability
8. MtGox
28/2/2014 filled for bankcruptcy protection ($64M)
7/3/2014 Block 289321 200k BTC split up in much
smaller chunks (50B)
20/3/2014 reported 'lost' of 850,000 Bitcoins (~$473M)
19. Bitfunder
8/10/2013 banned people in the US
“All current BitFunder users who are located in
the United States or are determined to be United
States persons or entities will not be able to enter
into any new positions on the BitFunder website,
and, as of November 1, 2013, such users will also
not be allowed to sell positions on the BitFunder
website.”
23. Neo & Bee (LMB)
28/3/2014
HLI has been formally informed by the Pass-
Through Fund Manager of NEOBEE that
the compliance officer of Neo and Bee Ltd
has stated that due to an increase of
abnormal activity on the LMB share
platform, there may be a high possibility of
questionable trading activity. While Neo
and Bee Ltd investigate the issue further
they have strongly recommended that we
halt trading and transfers. HLI has halted
the NEOBEE fund and is awaiting further
instructions from the issuer.
24. Neo & Bee
(LMB)
Danny Brewster steps down as CEO
Danny Brewster (ex-CEO?) - claims lost of coins
(1420BTC) in BitFunder/WeExchange
25. Neo & Bee (LMB)
4/4/2014
The Fund will now be designated as NEOBEEQ
to reflect the uncertainty of the future of LMB
Holdings – NEO BEE Ltd.
26. Neo & Bee (LMB)
Danny claims he left Cyprus w/o clients money and for
bussines
28. Common Red Flags of Fraud
High investment returns with little or no risk
Overly consistent returns
Unregistered investments
Unlicensed sellers
Secretive and/or complex strategies and fee structures
It comes through someone with a shared affinity
33. How to evade problems of
FIAT exchanges?
Multisig
34. or pickup one with 'audit' (solvency
report)
Bitstamp.net
Kraken.com
35. Bitcointalk.org warning
quote
Moderators do not remove likely scams. You
must use your own brain: caveat emptor. Watch
out for Ponzi schemes. Do not invest more than
you can afford to lose.
