Beware of the Bitcoin scammer
December 17, 2015
Jefferson City — Secretary of State Jason Kander recently issued an investor alert for Missourians considering digital currency investments.

Bitcoin and other digital currencies are not issued by banks or the government, despite the emergence of new exchanges claiming to be licensed and regulated by federal, state or other jurisdictional authorities. Due to a lack of consistent guidelines, scammers have taken advantage of the confusion and contradictions to misinform potential investors.

Kander previously halted a Bitcoin scam in Springfield after Kenneth Slaughter used deceptive tactics to convince online investors to pay for the development of Bitcoin “mining” equipment. (Mining is the process of solving complex math problems to earn Bitcoins.) Slaughter told investors they’d see unrealistically high returns of 2,812 percent, yet failed to inform investors of any associated risks.

As Bitcoin and other digital currencies attract the attention of private companies and regulators, investors should be aware of the following when approached with potential investment opportunities:

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