Sunday, August 18, 2019

Fake Bakkt Website Attempts To Scam Crypto Industry

A fake Bakkt website now operates as it tries to lure members of crypto space into a fake second round funding of the platform. The fake site operates with the domain name “bakktplatform.io” and was registered on January 31.

Second Round Funding Of Fake Bakkt Platform.

According to the fake Bakkt platform, the scheduled date for its launch is March 12, 2019, and it was also offering investors another chance to partake in investing in the project. This is noted as second-round funding of the project through Bitcoin.

The website noted that it raised the sum of $182.5 million in its first round of funding in 2018. And it is giving interested investors another chance to be a part of the project through the second round fundraising. It further noted that the firm believes that the launch of the platform will be of great Benefit to digital assets and give more opportunities to institutional investors.

Also, the website provides a Bitcoin wallet address for the funding. The funding round is scheduled to close by February 25, and it only requires only a name and email address to invest according to the website.

Why The Website Is Fake.

Apparently, the website is fake. The website thus far is yet to get any funding for its cause. This shows the crypto community has not fallen for this bait. Why?

It is well known that the Intercontinental Exchange (ICE) which is behind the proposed launch of the Bakkt platform is yet to make an official announcement on the date the platform will be launched. The firm stated on the last day of 2018 that it would inform the crypto space of the appropriate date early 2019.

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Also, a spokesperson from ICE had confirmed the website to be fraudulent and that the company will never raise financing in such a way. This means that investors must be careful of the type of project they put their funds. They must also watch out for scam project in the crypto space.

Bakkt Proposed Platform and Importance To Crypto Market.

The Bakkt platform is considered as a tool that will aid the influx of institutional investors into crypto space. Also, this is seen as an antidote to the lingering crypto winter market.

Recently, a JP Morgan trader stated that the bakkt platform is the only platform that could entice the banking firm to invest in cryptocurrency.

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