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There’s a convincing fake Bakkt impersonation website

Posted: 7 February 2019 4:50 pm
News

Mind the fake news.


Important: Fake news

The Bakkt site that is announcing its launch is a (fairly convincing) fake.

Bakkt has not announced its launch date yet. The real Bakkt site is at bakkt.com. The fake website is "bakktplatform.io".

This piece mistakenly announced the launch.



Red flags

Although convincing, there are several red flags on the fake site. Most notably:

It promises guaranteed returns

The site promises outlandish returns for investors, of a guaranteed 27.5% for those who send bitcoin. It's obvious why it only wants bitcoin.

Unusual turns of phrase

There are strange turns of phrase, which a hasty reader might overlook. For example, it explains that it's only accepting bitcoin because:

"We are at the stage of completing the testing of Blockchain on our platform, our tests have shown high results of efficiency and manufacturability using Blockchain technology in contrast to Fiat."

It's vague, and not up to the standards one would expect from the real thing.

Typos

There are several errors on the site.

The original piece can be found below for posterity, minus the information taken from the fake site.


Serious about bitcoin

Bakkt is an impending cryptocurrency platform by Intercontinental Exchange (ICE).

juicy crypto words

It's expected to be a destination for large financial institutions that want to get their feet wet in the cryptocurrency world, and there are reports that JP Morgan is also eyeing it as the only viable destination on the horizon.

"Bakkt is the only place we’d approach Bitcoin and the crypto space. Any and all other set ups just don't rise to the legal standard that is acceptable risk for us," an anonymous JP Morgan trader reportedly said to Abacus Journal. "Bakkt is the only place that passes that test."

Many others probably feel the same way.

One of the most significant elements of Bakkt is that its contracts will be settled with physical bitcoin, in contrast to others such as CME and Cboe bitcoin futures which simply track the price of bitcoin and then settle it with USD.

With Bakkt, actual bitcoin will be changing hands and bitcoin itself will be getting a price tag as a cold, hard digital asset.


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