The value of Bitcoin has gone up, and then it has come back down. Over the years, it has truly taken investors—and anyone interested in the cryptocurrency—on a rollercoaster ride. Only time will tell whether Bitcoin, which has been controversial since its introduction in 2009, will continue booming, or if the bubble will burst and prompt more people to short-sell Bitcoin.

One thing is for sure though: Bitcoin’s meteoric rise has attracted a lot of attention. People may not understand the technology or philosophy behind Bitcoin, but they do see stories of early adopters and savvy investors who turned a few thousand bucks into millions when Bitcoin’s value increased as it did in 2017.

Unfortunately, anyone chasing that fortune can also just as easily fall victim to opportunistic con artists and hackers who perpetrate Bitcoin scams. One of the benefits of cryptocurrency is that it’s unregulated by the government and very private. But that also makes it ripe for Bitcoin fraud.

If you're interested in Bitcoin, be aware of these potential scams.

Bitcoin Scam 1: Fake Bitcoin Exchanges

In 2017, South Korean financial authorities and the local Bitcoin community exposed one of the most insidious Bitcoin scams: a fake exchange called BitKRX. It presented itself as part of the largest trading platform in the country and took people’s money.