Scammers are peddling fake 'KODAKCoin' to unsuspecting victims
Kodak is warning potential investors that "KODAKCoin" offerings found online aren't the real thing. According to an email sent to potential investors, and shared by AdAge, scammers have started listing KODAKCoin for sale despite its lack of official availability. Buyers aren't getting the new cryptocurrency, they're simply losing real-world cash.
In January, Kodak announced plans to launch a blockchain-based image rights management platform called KODAKOne and its own cryptocurrency called KODAKCoin. In a status update published on January 31st, Kodak said it has received interest in its digital currency from more than 40,000 potential investors. The company is now entering an "accredited investors" phase during which time it will verify the status of interested potential investors.
Now, scammers are taking advantage of the hype around cryptocurrency in general and the confusion around KODAKCoin specifically to try and steal some money.
Scams involving initial coin offerings (ICOs) and cryptocurrencies are huge at the moment thanks to bitcoin's recent record value and growing public awareness of the digital currency market. Facebook recently blacklisted advertisements involving cryptocurrencies and ICOs from its platform due to the number of scams, and SEC Chairman Jay Clayton testified before Congress about the topic yesterday.
Editor's Note: If you're confused as to why exactly Kodak decided to get into cryptocurrency and bitcoin mining, give the op-ed below a read. Not everything with the Kodak name on it is connected to the company many of us know and love (or loved).
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