Ethereum Founder Warns of Cryptocurrency Scams and High Volatility

Ethereum Founder Warns of Cryptocurrency Scams and High Volatility

This past weekend, Vitalik Buterin issued a warning against scammers on Twitter and also gave his views on the legitimacy of cryptocurrency investments. Twitter has become a platform for scammers and we, as well as many others, urge all of you to practice caution with anyone who is not a confirmed representative of the company they represent.

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Lately, a new form of scam artist has been growing on Twitter where users impersonate famous cryptocurrency related people in an attempt to gain money and advertise ICOs. The situation has now reached a point where one of the most impersonated people, Ethereum’s founder Vitalik Buterin, has issued a warning against these scammers.

In a Tweet on Saturday, Vitalik urged all his followers not to trust anyone asking for or offering cryptocurrencies on the social media platform. The tweet got a lot of traction and has since been followed up by a handful of other tweets from Vitalik on the same subject.

Vitalik is one of the users that has been impersonated with fake accounts (using his profile picture) asking users to donate Ethereum tokens for more tokens or to promote ICOs. Other people who have experienced impersonations include Tesla CEO Elon Musk and the Head of the CTFC Christopher Giancarlo.

Vitalik has also stated that any digital currency could “drop to near-zero at any time,” and “if you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.”

Don’t Trust The Scammers: Use Legitimate Platforms to Invest in Cryptocurrencies

We can’t urge our readers enough to avoid any scams or untrustworthy services. That is the sole reason for us creating this website – to educate and promote legitimate business.

Because of this, we recommend that you either use one of the major exchanges to trade your cryptocurrencies or one of the following brokers and never trust a stranger offering free money. There is no such thing as free money.

Find the best trading platform. You capital is at risk when trading. Be careful.


Between 65-89% of retail CFD accounts lose money.