Though cryptocurrency has a lot of scopes, it has a bad image in the public eye due to miscreants and scammers. Every week we see some kind of hack or scam regarding crypto is a must. There is this fresh incident of Bitcoin fraud successfully executed by a Dutch guy. The accused apparently convinced a number of people to fund him money for buying computers to mine crypto. However, the scammer did not buy any computers. He even promised his investors a return of around 0.3 bitcoin a month.

The guy spent his investor’s money on luxury cars, motorbikes, traveling, and gambling. When investors saw no trace of their promised return, they took shelter of the law. Now, the swindler is behind the bars. Back at the end of 2018, the Police did a raid on his house. They recovered expensive belongings.

This event has barely anything about Bitcoin but you see, how in the name of Bitcoin the scammer played his game. This kind of act contributes to tarnish the image of bitcoin & affect a lot of people who are new to crypto or have an interest in it. They will now become suspicious of its scope even though bitcoin or crypto, in general, has lots of possibilities. Also, an issue like this makes the governing bodies of a region throw outright bans on crypto. So, investors should be aware and research properly before giving in to any investment.