There has been an increase in attempted fraud involving bitcoin in recent months. The nature and sophistication of these scams varies.

Customers should be aware that this service is only to be used to purchase bitcoin.If you are asked by someone to create an order on our site, supply information on your mobilephone number or relay sms codes that we send to you it is likely that this person is a scammer.DO NOT make any deposits into our bank account unless you are fully aware that you arepurchasing bitcoin. This service cannot be used to pay bills of any kind.If you deposit money into our bank that money cannot be refunded once the bitcoin has been sentto the destination. Bitcoin transactions are completely irreversible.


Ransomware is a malware that infects a victim’s computer or computer network. Ransomware comes in various flavours, some of which are CryptoLocker, CryptoWall, Locky, TeslaCrypt and many others. The virus typically demands a ransom to be paid in bitcoin in order to decrypt and recover data on the computer or network. CoinLoft condemns these ransomware attacks and recommends that professional IT assistance is sought before making any bitcoin purchase or payment in relation to these attacks.

Computer repair \ virus scam

A message is displayed on the victim’s computer stating that they have a virus and instructing them to call a 1800 phone number to resolve the issue. The victim calls the phone number and is answered by a person acting as Microsoft, a Mac experts or a computer repair centre. The victim is persuaded to pay for the service to rectify the current problem with the computer and also has an option for a 2 or 5 year ongoing contract. Thisis a scam and you may lose your money.

Utility Bill Scam

The victim is persuaded to deposit money into our bank account to pay for a utility bill. Thisis a scam and you may lose your money.

Expedia Discount Scam

You will receive some discount on a product or service if you pay by bitcoin, for example theExpedia 50% off if paying by bitcoin. Do not pay for products or services directly from oursite. It is likely the scammer will not provide you with those goods or services and you maylose your money.

Gumtree Scam

You may be asked to pay for an item on Gumtree by depositing the money into our bank account, inthis case the scammer could receive the bitcoin and not provide the item to you.

Online Pet Scam

You may be persuaded to purchase a pet online and make payment to our bank account for theshipping of the pet.

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