Scam News

$50 million Bakkt scam uncovered

In the early hours of February 7th, Cryptoline News received a news tip claiming the launch date of a shady “Bakkt trading crypto platform”. After carefully analysing the fake investor’s platform (which is up and running) we can confidently confirm that it is a Bakkt scam.

The impersonated platform which goes by the name [] promises a guaranteed return of 27.5% for those who participate in the second round of funding.

” The minimum investment for the second round is US $ 100 or the equivalent in a crypto-currency such as BTC. The maximum investment for the second round is US $ 25,000,000 or the equivalent in a crypto-currency such as BTC. In the second round payment of an investment of 27.5% for investments in BTC is assigned, that is, if you invested 1 BTC, you will receive only 1.27 BTC. “

Both the news tip and the fake website includes a launch date of 12 March 2019, a date which cannot be found anywhere else. Not even the social media accounts of Bakkt nor the official website has an official launch date yet.

This Bakkt scam aims at reaping people of at least $ 50 million and is open for “all interested investors”. More to that, they claim to be in partnership with 12 of the largest crypto exchanges, also not listed on the fake Bakkt website.

“We announce that we are opening the second round of funding for all interested investors who believe in the future of the cryptocurrency market. We believe that the launch of our platform will greatly benefit digital assets and give more opportunities to the institutional investor”.

The website is very plain and shady with several grammatical errors.

Given the fact that was a success in terms of funding and many within the crypto community are anxiously waiting for its launch, many might feel tempted to fall for such a scam so beware and don’t be a victim.


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