The Bakkt futures platform was much anticipated plagued with multiple postponements. Now that the platform is finally launched, many scammers are impersonating the company trying to trap unsuspecting investors aiming to steal their digital assets.
One such scammer is a fake website, bakktlaunch.com, which was launched recently. Just like many other classic scams that have come before, this one is asking investors to participate in a crypto giveaway by sending Ethereum and Bitcoin.
The site has even faked the layout of Bakkt’s Medium page where the company makes all its announcements. Then it is promoting a “Bakkt – Official ETH and BTC Giveaway.” The fake website notes:
“We wanted to commemorate such an achievement by holding a giveaway of 5000 BTC and 10000 ETH! A special promotion for BTC and ETH users”
In that context, the site offers two links, one for Ethereum and the other for Bitcoin. It is asking crypto holders to contribute between 0.1 to 10 BTC to get 5 times more Bitcoins. Also, the Ethereum holders are not spared and they are asked to contribute ETH to receive 10 times back in the coin. The fake site added:
“If you participate for 5 BTC or 100 ETH, you will get an additional 100% bonus.”
Is it a flop for the BTC futures’ launch?
Bakkt recently unveiled its BTC futures trading platform to support the physically-delivered Bitcoin futures trading services in the United States. Nonetheless, just as it was predicted by many commentators and analysts, the demand for Bakkt-sold Bitcoin futures was considerably slow. The platform sold just 57 BTC futures units after two days of trading as published on theice.com.
In the meantime, the regulators around the world are constantly thwarting fraudulent sites and entities. Moreover, they are warning crypto investors to stay away from such scams to avoid losing their investments. In August, the Malta Financial Services Authority (MFSA) reissued its warning targeting all suspicious crypto-related schemes of Bitcoin Revolution. According to MFSA, all these schemes are just “get-rich-quick” scams.
On its part, the Belgian financial watchdog is also constantly updating its cryptocurrency warning list that now contains names of up to 121 suspicious platforms. With more scammers joining the nascent crypto industry, investors are told to remain vigilant to avoid falling into their traps. Whether there are any victims so far or not, all crypto investors are advised to stay away from these ‘get rich quick’ scams.