Bitcoin Abuse Against Scammers

September 14, 2021

The world of crypto currencies is very shaky. When you join the crypto community there are many things to learn. It is necessary to be aware of the main strategies and principles that are typical for innovative technologies. Nevertheless, this is only partially a world of technologies, and the human factor has its own influence in it. The crypto world is full of fraud and scammers who use people’s trust to get the funds.

What is Bitcoin Abuse?

Bitcoin Abuse is a free website to help to repress blackmail and extortion from scammers. It reveals a public database of bitcoin addresses which scammers and hackers use in their operation. We all know that bitcoin is anonymous, but you shouldn’t lower your hands when you face a doubtful situation. The team of the resource hope that by making a public database of bitcoin addresses used by scammers, it will be more complicated for scammers to convert digital currency into fiat money.

Blackmailing in crypto

The crypto scammers do not differ a lot from usual ones. Internet is full of stories when users lose their money because of blind confidence and absence of attention to detail. Scammers often blackmail users demanding transfers in Bitcoin. They might blackmail you with some kind of your personal videos or pictures. It’s a frequent practice that scammers scare their victims, but they don’t usually have all that compromising information. In the dark net scammers also can find your old password. What you need to do is to change passwords.

Make a report on BitcoinAbuse

On the website Bitcoin Abuse you can file Bitcoin Abuse report. Insert the Bitcoin address first. Choose an abuse type: ransomware, blackmail scam, sextortion, darknet market, bitcoin tumbler or others. You should also note an abuser himself. Use his email address for this purpose. They are almost always spoofed. In addition, in the description field you provide a description of the abuse. Mind that you’d better not include any kind of your personal information, for instance, your email address.

Monitor stolen bitcoin

The resource allows users to create a permanent public record of the attack made by hackers. Except reporting Bitcoin addresses used by criminals, you can check the report history in order to see if certain addresses have been linked to a cyber-attack. BitcoinAbuse users can monitor stolen bitcoins on the public ledger to see when scammers try cashing out There is a feature that makes alerts when crypto coins are moved out of the flagged bitcoin address.

Can BitcoinAbuse shutdown the bitcoin address?

Bitcoin is famous for its freedom to some extent. There is no bank or government to control the system. It’s not possible to freeze the account. There is not such an ability in general. How can the site help? Documenting dangerous addresses is currently the main goal of Bitcoin Abuse. It might be helpful to check up a bitcoin address of a new business partner, for example. It’s easy to check the database automatically. The misdeeds of hackers and scammers will be recorded on the website.

Beware of bitcoin scams!

It is always a must to be cautious and you can often recognize signs of scam. The most common fraudulent schemes are Ponzi schemes, fraudulent exchanges and fake ICOs. Another way is the sale of a hardware wallet with a compromised pre-configured phase that allows criminals to steal digital money. When you are eager to exchange your crypto coins, be sure that you are using secure services. Moreover, you can see a great number of fake ICOs that instruct users to spend funds into a compromised wallet through their website.


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