November 27, 2017 IBOMLLC Team

4 Biggest Bitcoin Thefts, Frauds and Heists

Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Bitcoin and cryptocurrencies in general are the safest forms of money in the world. But that doesn’t mean that this money can’t be stolen. Bitcoins have been stolen since their inception. In this article we will talk about the biggest Bitcoin thefts and heists. Many bitcoin thefts 2017 took place too. But here, we will only mention the biggest bitcoin theft and heists based on their total worth.

Bitcoin Savings & Trust

One of the biggest Bitocin theft started in 2011, when Bitcoin Savings & Trust, also commonly known as BST, was started by known closed Trendon Shavers. Trendon Shavers, also known as Pirate, started selling invested bitcoins at a higher rate and buying them back at the market rate. The Pirate used to give people a high interest rate on their Bitcoin deposits. After a few months of the Ponzi scheme, the investment trust succeeded in getting the market’s attention. The Pirate soon claimed that over 500,000 bitcoins had been deposited to it by investors around the world. With increasing transactions and load, it became difficult to sustain the business model. Pirate slashed interest rate, which …read more

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