Beware Crypto Community as New Bakkt Spoof and Phishing Platform Impersonator Surfaces
Someone is Impersonating the Bakkt Platform to Steal Funds From Investors
Apparently, there is a person that is impersonating the cryptocurrency platform Bakkt in order to steal funds from investors. The information was released to BitcoinExchangeGuide on February 6 via Email and claimed that the platform was going to be launching on March 12.
Although this states it would launch in March like the related news that we published yesterday that AbacusJournal picked up from one of their sources, we don't believe they are the same source.
As per the email, the Bakkt platform was searching to raise $50 million in a financing round. After it, there is a Web.Archive link that redirects to bakktplatform.io. Investors are invited to register themselves entering their name and email address. After all the process, users have a Bitcoin address in which they can send a payment to fund the development of the platform.
We reached out to Bakkt via Twitter last night but had not head back:
@Bakkt we received a suspicious email regarding your launch. Without going into great detail, we wanted to do a quick spot-check with you guys. Could you DM us?
— Bitcoin Exchange Guide (@bitcoinsguide) February 7, 2019
Coindesk was abile to reach a spokesperson of the Intercontinental Exchange (ICE), the parent company of Bakkt commented that they would not communicate the information in such a way. Until now, there is no official launch date for the Bakkt platform.
At the moment, the firm is waiting for approval from the Commodity Futures Trading Commission (CFTC) to start operating. Until now, the CTFC has not published the proposal to the general public, in which it is possible for interested parties to comment about it.
Bakkt was able to raise $182.5 million at the end of 2018. A company such as the ICE would never request investments from the general public just with an email and name that can be fake. Additionally, they would not only accept Bitcoin as a means of payment.
The company is building a cryptocurrency investment platform specifically designed for institutional investors from all over the world. The intention is to provide the necessary infrastructure for traditional investors to enter the market. During the bear market experienced in 2018, several crypto enthusiasts were waiting for investments to come from institutions. Nevertheless, this did not happen and the market kept plummeting during the last months.
The cryptocurrency market has always been affected by scammers and fraudsters that tried to steal users funds. This is just one of the many cases that have proliferated during the last years in the crypto space. Due to these issues, some regulatory agencies around the world started to impose severe regulations on the virtual currency and blockchain market.
Here is a copy of the email that BitcoinExchangeGuide received from “Alex Brown”:
The Bakkt trading cryptoplatform focused on large investors will be launched on March 12, 2019 with the participation of the 12 largest world exchanges and a wide list of exchange instruments that will ensure the emergence of Bitcoin in the fiat market as a global digital currency.
The displayed product on the platform will be “Bakkt BTC (USD) Daily Future”. Each contract will cost 1 BTC and be calculated on the basis of the price in US dollars with two decimal places. The minimum price fluctuation recorded is $ 2.50 per bitcoin. For large transactions from 10 BTC, it is possible to determine the price with an accuracy of $ 0.01.
The platform's website (bakktplatform.io) describes all the details of the launch, the platform also opens the Second Financing Round, the amount of the estimated fee will amount to $ 50 million. There is a second round of financing, after which they will launch the platform.
In the First Round, the Bakkt platform raised over $ 182.5 million during the first round of financing. The project has invested CMT Digital, Goldfinch Partners, Galaxy Digital, Horizons Ventures, Boston Consulting Group, Goldfinch Partners, Microsoft and others.
It also became known that the regulatory department Bakkt announces the completion of the final stage of CFTC platform approval, which will be approved by the end of February.
On the FAQ page, the platform answers all your questions.