is Fake

Wilfred Michael 

Wilfred Michael

News reporter

07 February 2019,
22:54 is Fake

sAn unknown entity is reportedly banking on the proposed launch of the Bakkt Bitcoin Futures platform to dupe unsuspecting investors of their money according to a February 7 report by CoinDesk.

The person or people behind the fraudulent scheme is soliciting for investor funds via an email and also telling readers that the Bakkt Bitcoin Futures platform will launch on March 22, 2019.

As per the report, here are other misrepresented information from the spam email :

  • Bakkt is looking to conduct a $50 million second funding round. This is entirely false since the Bakkt Platform just raised $182.5 million for its project two months ago.

  • The email directs users to a web page on the URL The original website for the Bakkt Bitcoin Futures platform is

  • The email was written in broken English with a particular line reading — Bakkt's open-source, neutral platform will be launch to meet applicable regulatory requirements.

  • Potential investors were only asked to provide their name and email address to confirm their interest before going on to donate to a designated Bitcoin wallet address which has received no funds until now.

  • Investors were also promised a return on their money just three days after the fake Bakkt launch date (March 15). The fake fundraising was also going to be due on February 25.

Commenting on the fake project,, an unnamed spokesperson  for the Intercontinental Exchange (ICE), Bakkt's partners, said in the report,

“That is not a Bakkt website, and we wouldn’t have communicated in that way.”

Going back to news about the original Bakkt Bitcoin Futures platform, we reported in November that the startup postponed its earlier January 24 proposed official launch date and had not made another announcement since then.

Bakkt is now waiting for approval from the U.S Commodity and Futures Trading Commission (CFTC) before launching its Futures trading platform that will attract more institutional investors to the cryptocurrency industry.


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