📰📰The biggest scams in crypto history include¹ ²:
- *OneCoin*: Estimated damages of billions of dollars, making it one of the largest scams in crypto history. This multi-billion dollar scam fooled millions worldwide with promises of high returns.
- *FTX & Alameda Research*: $8 billion in customer assets lost due to fraudulent financial practices. Founder Samuel Bankman-Fried's scheme was described as "one of the biggest financial frauds in American history".
- *BitConnect*: Estimated damages of over $1 billion. This Ponzi scheme promised high returns through a lending program but had no real technology or product behind it.
- *Thodex*: $2.6 billion in damages. This Turkish crypto exchange platform was shut down, and its founder disappeared with customer funds.
- *HashFlare & Polybius Bank*: $575 million in damages. These Estonian companies were accused of running a Ponzi scheme and diverting money from newer to earlier investors.
- *Finiko*: $1.5 billion in damages. This crypto scheme promised high returns with little explanation, typical of Ponzi schemes.
- *MiningMax*: $250 million in damages. This cloud mining platform turned out to be a classic Ponzi scheme.
- *EmpiresX*: $100 million in damages. This global cryptocurrency investment fraud scheme promised high returns but had no real investment strategy.
- *Mt. Gox*: 850,000 Bitcoins (valued at over $450 million at the time) were lost due to a hack. This incident led to the bankruptcy of Mt. Gox, once the largest Bitcoin exchange.
- *Pincoin and iFan*: $660 million in damages. This scandal involved a fake cryptocurrency project that promised high returns to investors
