Someone Is Impersonating Bitcoin Futures Platfom Bakkt to Raise Cash


Someone is poorly impersonating the really expected bitcoin futures trading platform Bakkt in an clear try to bilk folks out of their bitcoin.

On Wednesday night time, the CoinDesk information team been given an email (matter line: “Bakkt News!”) claiming that the platform was established to launch on March 12. The email, despatched from a gmail handle and composed in broken English, further more said that Bakkt would be seeking to elevate $50 million in a 2nd financing round and directed audience to a site, bakktplatform.io.

There, prospective traders are invited to sign-up by coming into their title and email handle. Following likely through this process, readers are offered with a bitcoin handle to deliver their money and requested to present their individual handle to get their “profits” from the expense.

As of Thursday early morning, no money experienced been despatched to the wallet.

The site (registered just a week back through WhoisGuard, a area operator-obscuring provider in Panama, in accordance to a WHOIS lookup) is a phony.

A spokesperson for Intercontinental Exchange (ICE), Bakkt’s mother or father firm, told CoinDesk: “that is not a Bakkt site and we would not have communicated in that way.”

Further more, the email’s statements about Bakkt are doubtful at most effective.

No launch date

For starters, Bakkt has no official launch date right now.

The platform is nevertheless waiting around on regulatory acceptance to start out listing its futures products, and the Commodity Futures Investing Commission (CFTC) is nowhere in the vicinity of these types of an acceptance.

In fact, the CFTC has not even revealed Bakkt’s self-warehousing proposal for remark. At the time that proposal is introduced, the general community will have 30 times to react. Following the remark period of time ends, the CFTC’s commissioners will very likely just take a handful of times to review the comments in advance of voting to approve or deny the proposal.

In that light, a March 12 launch date would be an intense concentrate on – and just to be clear, Bakkt has manufactured no these types of commitment.

Caveat emptor

Even a lot more implausible, nevertheless, is the email’s announcement of a “2nd Funding Spherical.”

1st, Bakkt just elevated $182.5 million at the shut of 2018, fewer than two months back. And it strains credulity to envision that a regulated institutional platform would solicit money from the general community through a site, require just a title and email handle to commit (although “company” and “industry” are optional fields on the registration form) and accept bitcoin only.

“We are at the phase of completing the testing of Blockchain on our platform, our exams have shown substantial final results of performance and manufacturability making use of Blockchain engineering in contrast to Fiat,” the bogus Bakkt site describes (sorta). “Тhe in the vicinity of long term we program to make the first regulated exchange of the institutional class in a establishing market and significantly a lot more [sic].”

If that pitch is not persuasive adequate, the web-site promises traders a return inside three times of the platform’s launch (so by March 15, presumably). Probably pleasing to FOMO, it suggests the platform will conclude its fundraising exertion on Feb. 25, except if it hits the concentrate on in advance of that date.

In all seriousness, remember to really don’t deliver money to this platform. Traders who do are unlikely to see their bitcoin once again.

“What this Bakkt” and bitcoin handle signup screenshots from bakktplatform.io