Bakkt Impersonating Website Fails To Fool Crypto Investors

Feb 8, 2019 at 17:15 Update Date :Feb 8, 2019 at 17:15 UTC

Bakkt, a digital assets trading platform, has found itself an impersonating scam website, which even has its own domain, dubbed “bakktplatform.io”, registered on Jan.31.

The Failed Scam

The impersonating  website listed its entire schedule leading up to the alleged launch of the platform on March 12 and called out to investors to take the opportunity of investing in another funding round, stating that payments would be accepted in Bitcoins.

Taking reference from the official Bakkt blog, the scam website has cited that a figure of $182.5 million had been raised by the platform until the end of 2018.

This was followed by “opening the second round of funding for all interested investors who believe in the future of the cryptocurrency market.”

The fake website also gives a date for the closing of the second funding round as Feb.25 while only requiring your name and email address for investments.

The site, however, only seems to accept Bitcoin as a viable means of participating in its funding round.

This new scheme to generate easy cryptocurrency by scammers has failed to pick up pace with investors, who tend to remain more informed nowadays.

The Bitcoin wallet address linked to the scam Bakkt website for accepting payments, has at the time of writing, been unable to conduct even a single transaction.

Bakkt Coming Soon

The Intercontinental Exchange (ICE), which also caters to operations of around 23 global exchanges listed on the New York Stock Exchange (NYSE), had announced Bakkt back in August last year.

Although on Bakkt’s timeline, the platform was scheduled for a late January launch this year, an official blog post on Bakkt’s website stated that the platform was fine tuning operations to meet out its 2019 objective list.

The statement read:

“We are focused on opportunities to provide new infrastructure, including the industry’s first institutional grade regulated exchange, clearing and warehousing services for physical delivery and storage.”

Last month, Bakkt made its first acquisition of assets in Rosenthal Collins Group amid the US government shutdown.

The US shutdown is said to have delayed several pending approvals for crypto related products from regulators like Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), which were severely understaffed at that point in time.

However, Bakkt seems to be on the verge of launching its trading platform, if all goes well, sooner rather than later.

Also Read: Taiwan Police Arrests 15 Suspects in Alleged $8 Million Crypto Scam

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