Scam accusations strike Mike Tyson Bitcoin ATM project

Scam accusations strike Mike Tyson Bitcoin ATM projectScam accusations strike Mike Tyson Bitcoin ATM project

Tyson at SXSW, March 13, 2011

According to an investigation by SiliconANGLE, retired professional boxer Mike Tyson may have been duped into endorsing a Bitcoin ATM network.

Slated to launch in August, the Mike Tyson Bitcoin ATM brands itself as a fast method to convert cash into Bitcoin – within 20 seconds, faster than Tyson’s quickest knockout in a professional match, which clocked in at 30 seconds.

Confirmation of Tyson’s involvement in the initiative came from his Twitter account, where Tyson claimed the Bitcoin ATM service would “change the way we get change.”

According to SiliconANGLE, very little is known about the enterprise other than what the news agency reported, and a number of Bitcoin forums are full of speculation on the legitimacy of the business.

SiliconANGLE said the biggest lead came from the registration of the domain name, registered to a Peter Klamka. A search found that Klamka is the CEO of Bitcoin Brands., Inc., which offers a site called Bitcoin for Miles (where airline frequent flyer miles can be bought) and

Read more ... source: CoinReport