Bitcoin Fraud Could Be the Next Big Thing For Swindlers in Israel


By Andrew Tobin | 21 December 2017

JTA — Israelis lined up Tuesday afternoon at the newly opened bitcoin exchange in this city to purchase the coveted cryptocurrency.

Amid the store’s yellow signage, the customers one by one inserted bank cards into a towering ATM-like machine. Sharply dressed young employees helped them make the necessary online maneuvers to claim their new funds.

Guy Maimon, a goateed 22-year-old, sat at a desk in the corner of the Bitcoin Change store buying cryptocurrencies from foreign markets in a desperate effort to keep the kiosk stocked. He said every day was like this, with hundreds of customers coming in a week. The company has had to limit individual purchases to 5,000 shekels, or about $1,400 a day.

“The demand is crazy,” Maimon said as he toggled between tabs on his laptop and worked his leg muscles with an exercise band. “A lot of people return every day and buy the maximum. When we run out and turn off the machine, people sit here and wait for us to turn it back on.” […]

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