United States Securities and Exchange Commission (SEC) charged a cryptocurrency trader for allegedly being involved in a ponzi scheme defrauding more than $5 million from over 170 investors. The accused, Jeremy Spence, who goes by the name “Coin Signals,” was charged in Manhattan Federal Court for “soliciting funds” for various crypto funds that he operated. ...Read More
If you have some Bitcoin in your wallet – and you live in Brazil – you can attack your country’s electoral infrastructure and bring the public institutions to their knees while people express their anguish as they wait for the results of a critical election to measure the leadership of the current president, deemed the...Read More
U.S. authorities have just seized millions of dollars in crypto from one of Brazil’s biggest and most famous scams, ending one dark chapter in the history of crypto scams in the country. The joint initiative —started by the brazilian authorities— had the codename “Operation Egypt” (did you understand the reference?) and aimed to end a...Read More
Australian multi-millionaire and electronics entrepreneur Dick Smith has threatened to sue The Guardian Australia. Smith has alleged that the trustworthy media outlet has hosted fraudulent ads with fake interviews of him promoting a phony Bitcoin scheme. Aussie Entrepreneur Threatens The Guardian Impersonation scams are among the most perilous threats within the cryptocurrency community. Typically, the...Read More
The principal of a cryptocurrency escrow company, Jon Barry Thompson, has pled guilty in Manhattan federal court to commodities fraud. In 2018, he took over $3 million from one company and failed to deliver bitcoins worth that amount. Crypto Fraudster Pleads Guilty Thompson served as the director of Volantis Escrow Platform LLC and Volantis Market...Read More
Indian police are investigating a New Delhi-based crypto firm, ‘Pluto exchange,’ which has been accused of swindling Rs 2 crore (approximately $270K) from 43 crypto investors, according to local reports. The Economic Offences Wing of the Delhi Police has suspected one Bharat Verma to be the Director of the crypto company who reportedly lured in...Read More
Cryptocurrency fake giveaway scams continue to emerge frequently, and the latest example involves the popular DEX protocol Uniswap. Just a day following the UNI token release, scammers began promoting fake UNI giveaways by impersonating Uniswap’s creator – Hayden Adams. Fake UNI Giveaways On YouTube As CryptoPotato reported yesterday, the popular decentralized token swap platform launched...Read More
The US Department of Justice (DOJ) has indicted two Russian nationals for allegedly defrauding nearly $17 million worth of digital assets from cryptocurrency exchanges and their customers. Two Russians Allegedly Steal $17M In Crypto According to the DOJ’s official statement, the two Russians, Danil Potekhin (going under the username cronuswar) and Dimitrii Karasavidi (Dmitriy Karasvidi), ...Read More
The United States Commodity Futures Trading Commission (CFTC) has filed a complaint against four individuals for defrauding investors of $1 million through an alleged Bitcoin investment scheme. Dubbed Global Trading Club (GTC), it operated as a BTC trading robot for over a year. CFTC Goes After GTC’s Members The Commission’s statement named the four people...Read More
Bitcoin and cryptocurrencies present numerous advantages over the traditional financial systems, including faster transactions, while paying only a fraction of the cost. The decentralized nature, meaning a lack of central authority behind them, has attracted lots of fans, investors, and users over the past decade. However, this same feature could also display some serious issues...Read More
The U.S. SEC has fined Atlanta-based rapper Clifford Harris Jr, better known as T.I, along with other individuals for their involvement in two fraudulent initial coin offering (ICO) projects. T.I, Others Pay $125K in Penalty According to a press release by the U.S. Securities and Exchange Commission (SEC) on Friday (September 11, 2020), T.I, along...Read More
Former project manager at now defunct crypto investing firm Bitsonar, Yaroslav Shtadchenko, has filed a complaint with the U.S Federal Bureau of Investigation (FBI) accusing his former employer at Bitsonar of fraud. The accused, Bitsonar’s founder, Alexander Tovstenko, who was also a former clerk at the Ukrainian government hired Shtadchenko in 2018 “to provide consulting...Read More
After having his name involved in a Bitcoin impersonation scam, Ryanair CEO Michael O’Leary said that he never has and never will invest in the cryptocurrency. He went even further by referring to BTC as a Ponzi scheme, which he avoids like “the plague.” Ryanair CEO Involved In BTC Scam The CEO of the low-budget...Read More
After receiving a confirmation that a few employees of the Cebu operations of BPO firm Sykes have engaged in Bitcoin scams, the American tech giant Google has pulled out outsourcing business from the Philippines-based company branch. Google Pulls Out After A BTC-related Scam The business process outsourcing (BPO) company Sykes confirmed earlier this month that...Read More
US authorities have charged with fraud and money laundering five people operating a Bitcoin mining Ponzi scheme. Called AirBit Club, the scam operated since 2015 and duped numerous victims into investing by promising alluring but false returns. How Did AirBit Club Operate? According to the US Department of Justice (DOJ), Pablo Renato Rodriguez and Gutemberg...Read More
In an effort to find a temp solution to deal with yesterday’s attack, Twitter has apparently made it impossible for users to post Tweets containing strings of letters and numbers in order to avoid any scam “giveaway” from sharing their cryptocurrency wallet addresses. Something Went Wrong: Twitter Blocks Wallet Addresses Indeed, when I tried to...Read More
The third co-founder of the alleged cryptocurrency scam project Centra Tech, backed by celebrities such as Floyd Mayweather and DJ Khaled, is reportedly planning to plead guilty to duping investors into committing more than $25 million in its initial coin offering (ICO). The Third Centra Tech Inc’s Co-Founder Pleads Guilty According to the report from...Read More
The Thai Securities and Exchange Commission (SEC) has issued a warning to the general public regarding a fraudulent firm which is depicting itself as a legal cryptocurrency trading firms operating overseas. The Thai securities regulator has become aware of a new crypto fraud which lures investors to operate with firms outside the country. Also, the...Read More
