The fake bitcoin mine

The Documentary Podcast

• Episode: The fake bitcoin mine
• Website: The Documentary Podcast
• Feed URL: http://podcasts.files.bbci.co.uk/p02nq0lx.rss
• Duration: 00:27:37
• Published: 2021-12-15 03:40

With crypto currencies – like Bitcoin and Troon - booming there’s never been a better time to mine for crypto online. Mines in this context describe hundreds of computers that solve complex mathematical puzzles to produce cryptocurrency. And with many wanting to jump onto the crypto band wagon mines are springing up across the world - even fake ones. For Assignment, James Clayton speaks to two Indian victims of a crypto scam - who thought they were investing in a mine, which in fact did not exist. He looks at how one of his own BBC reports was used by the scammers as part of the deception. And he investigates how scammers were able to extract money from victims with seeming impunity. With India close to banning crypto currency currencies all together - are crypto scams ruining the Bitcoin dream? Reporter: James Clayton Producer: Regan Morris Editor: Bridget Harney (Image: Hacker in front of a computer. Credit: Witthaya Prasongsin)