Since the beginning of time, scams seem to have been common, at least since the beginning of recorded history. There appears to have been increased scams with each new technology and discovery. Crypto has been no special case. The emergence of cryptocurrencies brought to light the ease with which it could adapt open-source code from legitimate projects to create new cryptocurrencies. Some of these were good and still are. The market is tough; you probably have felt some of it recently. We are all.However, despite how badly it hurts to lose money on a sound investment, the sheer devastation of falling for a scam is nothing compared to the pain.Well, apart from all this there is a crypto broker named KuCoin which recognized all across the world for its exclusive services and authentic polices.

1.  Onecoin

Onecoin is now considered the greatest crypto scam of all time, having been made famous by the Missing Cryptoqueen podcast series on the BBC. It is believed that the Onecoin scam, now considered a massive Ponzi scheme, stole approximately $25 billion. Surprisingly, even though authorities stopped the scam in 2017, its leaders were arrested, and its founder vanished—either on the run or dead. Most bizarre, Onecoin’s technology was a hoax from the beginning and never had a cryptocurrency.

The business did sell educational materials, like cryptocurrency courses. It was that this was its main business. Trading and investing were just two other topics covered in the classes. The courses were a part of a multi-level marketing (MLM) scheme in which buyers got rewards for getting more people to sign up.

2. Bitconnect

Another of the most outrageous and well-known crypto scams ever. In a multi-level marketing-driven Ponzi scheme, Bitconnect defrauded investors of an estimated $4 billion by promising an unbeatable trading algorithm that probably never existed. Surprisingly, before their first project was set to implode, they released a second fraudulent ICO, BitconnectX. They weren’t happy to con their victims once.

In court documents, BitConnect founder Satish Kumbhani, 36, of Hemal, India, lied to investors about the company’s “Lending Program.”Kumbhani and his co-conspirators promoted BitConnect’s alleged proprietary technology, which they referred to as the “BitConnect Trading Bot” and “Volatility Software,” as being able to use investors’ money to trade on the volatility of cryptocurrency exchange markets and guarantee returns. But BitConnect, as the indictment alleges, was a Ponzi scheme that paid out money from later investors to earlier BitConnect investors. Kumbhani and his accomplices received approximately $2.4 billion from investors in total.

3. Bitclub Network

The most well-known scam involving crypto mining. A Ponzi scheme, just like Bitconnect and Onecoin, made $722 million with good marketing and salespeople.BCN promised its investors that it would send them guaranteed profits and that it would have bitcoin mining equipment. It appears to have been a Ponzi scheme from beginning to end, as the mining equipment videos it used belonged to another mining farm.

From April 2014 to December 2019, the BitClub Network was a fraudulent scheme that rewarded investors for bringing in new investors and demanded money from investors in exchange for shares in alleged cryptocurrency mining pools. In connection with the BitClub Network scheme, Matthew Brent Goettsche, the creator and operator of the network, as well as Silviu Catalin Balaci, Russ Albert Medlin, Jobadiah Sinclair Weeks, and Joseph Frank Abel, were indicted in December 2019.

In addition, Beckstead admitted to controlling the entities’ bank accounts and directing transfers worth more than $50 million. Beckstead acknowledged that the transfers were intended to assist Goettsche in evading tax reporting requirements, conceal Goettsche’s ownership of certain property and assets paid for with BitClub Network proceeds, and conceal the source of Goettsche’s income. In addition, Beckstead acknowledged that he and others provided financial institutions with false and misleading information to conceal Goettsche’s income source.

Conclusion

KuCoin tries its best to give authentic and trusted information or guide to its users.In comparison to other businesses that deal in digital cryptocurrencies, KuCoin charges less for its various cryptocurrencies. Additionally, KuCoin traders buy and sell Ethereum price and SHIB USDT.In a nutshell, KuCoin is an excellent cryptographic money trade for financial backers of digital currencies. It may boast moderately high liquidity, many customers, a wide range of supported services and resources, and low exchange fees.