SCAM ALERT: Losing R175-million in a matter of minutes

SCAM ALERT: Losing R175-million in a matter of minutes

Do you own any Bitcoin?

SCAM ALERT: Losing R175 million in a matter of minutes because of an online scam
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Being part of the tech world means engaging in things like futuristic ways of living. That doesn't just mean robotics or mechanics, it has a lot to do with the concept of money and how we trade and consume in the future. 

For one, there is Bitcoin. Many have varied views on whether this is the future of the world, but those who do are fully invested. It is definitely something worth looking into, because many things that started off as an unknown became a leader in the market in a matter of years. 

Bitcoin is a digital currency. It is listed as a smart way of transacting, as there is no need for intermediaries. But the one thing that gets us is the rise in cyber crime and us having to put our faith in a system of technology that somehow always poses a threat in terms of being vulnerable to hacking. 

More than that, with the advancements in tech, come the greater advancements in scams. So the better the security, the higher the chances of someone finding a way around it to get to your valuables. 

"In April, after a Coinbase user bought 200 bitcoin, a notification popped up, alerting them that their account had been locked, according to a complaint filed by the US Attorneys Office in Los Angeles. Although the notification appeared to be from Coinbase, it wasn't." (Business Insider)

In a matter of minutes, the user lost around $11.6-million, which is roughly around R175-million. Can you even imagine that? The source of the threat is unknown, including whether the user was using their phone or laptop when the scam notification popped up, because of course that seems to matter. 

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Once the pop up notification appeared, the user called the number and the fraudster then prompted the user to perform steps and provide them with remote access to the account. Talk about dodgy 101, this is something that even the banks don't ask of you...

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