The Australian Securities and Investment Commission (ASIC) has banned an Australian national from working in the financial sector. According to the watchdog, John Louis Anthony Bigatton operated as the Director of Australia Promotions for the notorious cryptocurrency scam – BitConnect. Aussie National Banned For BitConnect Participation As CryptoPotato reported last year, the Australian corporate regulator...Read More
Joseph Frank Abel has pled guilty regarding his involvement in the notorious Bitcoin mining scheme BitClub Network worth over $700 million. The development follows the alleged owner’s arrest in June and a Romanian programmer also admitting to his participation in July. Another BitClub Operator Pleads Guilty According to a statement from the US Internal Revenue...Read More
The latest two DeFi protocols to pump and dump worthless tokens have been Hotdog and Pizza as the food meme trend continues. They are essentially clones of other defi platforms, some of which are clones themselves. The latest is a Uniswap clone called Hotdog that, just like SushiSwap, promised better APYs and shares in governance...Read More
An anonymous Bitcoin investor by the name “1400BitcoinStolen” claimed on Sunday that he lost 1400 BTC after “foolishly” installing an old version of the popular Electrum wallet, but turned out to be a phishing scam. A Trap Explaining the unfortunate incident, the victim said he had not been able to access the funds since 2017....Read More
Yesterday, the United States’ Department of Justice filed a complaint to seize 280 cryptocurrency accounts operated by notorious North Korean hackers. They allegedly stole millions of dollars worth of crypto assets from two cryptocurrency exchanges and also sought the help of Chinese OTC traders to launder the funds. US DOJ Moves To Seize Cryptocurrency Accounts...Read More
Police have reportedly arrested a Russian man for an attempt to recruit an employee in Nevada to plant malware on a Company’s network. In return, he promised him up to $1 million in cash and Bitcoin. The Offstage Attacker Was Reportedly Part Of A Larger Organisation As per the published court documents, Egor Igorevich Kriuchkov has...Read More
Empire Market, the largest crypto darknet marketplace, has abruptly shut down. No communication was issued from the admins who seem to have siphoned away with user funds amounting to around $30 million in BTC. From the looks of it, this appears to be a pretty massive exit scam. Empire Market Exit Scams With 2638 BTC...Read More
Police in Seoul has forayed the offices of one of the biggest crypto exchanges in South Korea, Coinbit. Allegedly the firm has faked more than 99% of its trading volume. Coinbit Banks Over $85M According to a recent news report, authorities stormed the offices of the company early today. The suspicion is that Coinbit has...Read More
DeFi tokens continue to flood the markets as developers are minting new coins and listing them on Uniswap every day. While this might present an earning opportunity for some, the number of the so-called ‘rug pulls’ is also on the rise. Investors need to be extremely careful and selective when it comes to the tokens...Read More
A newly-detected scam has been luring users into a Bitcoin scam, Abnormal Security reports. The cybersecurity firm informs that cybercriminals have been impersonating the popular Bitcoin Era trading platform to attract investors, while actually infecting their online devices with malware. Emails, Mimicking BTC Era Platform The automated scam emails, which many users have reportedly received,...Read More
The U.S. Commodity Futures Trading Commission is reportedly after the owner of a crypto scheme, which misled over a thousand of its investors and clients. It seeks $572 million in financial penalties and restitution. $270M Worth Of BTC Stolen From More Than A Thousand Customers Аs per a recent report, the alleged Bitcoin trading pyramid Control-Finance...Read More
The United States Department of Justice (DOJ) has filed a complaint against an alleged cryptocurrency Ponzi scheme to forfeit over $7 million in Bitcoin and Tether. The administrator of the scam called the “Banana Fund” has used some of the raised funds for personal benefits, including purchasing a house. DOJ Against Banana Fund Ponzi Scheme...Read More
Forty-year-old Russian computer expert, Alexander Vinnik, allegedly supervised and operated a Russian cryptocurrency exchange called BTC-e from 2011 to 2017. The alleged fraudster is also wanted by Washington and Moscow, according to statements from his lawyer and recent reports. Extradition Tussle: France, Russia, and America Vinnik was arrested in Greece in 2017 at the request...Read More
After perpetuating one of the largest fraudulent projects in the crypto industry, the core team behind the popular PlusToken crypto scam has finally been arrested by the Chinese police, a Thursday report revealed. 27 PlusToken Key Members Arrested Although earlier reports suggest that some of the PlusToken officials were caught months ago, today’s report notes...Read More
Bitcoin scams by impersonations are emerging globally, and the latest example coming from the Philippines has pushed the nation’s Finance Secretary to sought the help of the US Department of Justice (DOJ). He claimed his name was used to promote a series of ongoing cryptocurrency scams. The Philippines’ Finance Secretary Involved In a BTC Scam...Read More
The increased number of fake Bitcoin giveaways on YouTube involving various celebrities has pushed Apple Inc co-founder Steve Wozniak to file a lawsuit against the platform and the parent company – Google. Wozniak Sues YouTube Because Of Fake BTC Giveaways Fake Bitcoin giveaways are a growing threat in the cryptocurrency industry. Scammers begin live streams...Read More
With a bit of delay following the Twitter hack, Bitcoin finally sees a slight movement downwards to $9,100. Interestingly, this time the three major US stock market indexes decrease in value with a similar percentage. The situation appears much more favorable in the low-cap altcoin market, as massive gainers include Aurora, Ampleforth, and Algorand. Bitcoin...Read More
Yesterday’s fake Bitcoin giveaway scam on Twitter unleashed a series of events and comments from prominent figures. While some spoke against the popular social media platform, others against BTC, a US Congressman stood behind the primary cryptocurrency and blamed it on “centralized control.” US Congressman: Bitcoin Isn’t The Problem As yesterday’s Twitter hack, which unfolded...Read More
According to a recent report, two promoters of the massive cryptocurrency scam OneCoin have been found killed in Mexico. One of them joined the infamous Ponzi scheme in 2017 and was particularly active in distributing misleading information and deceiving victims in the LATAM region. OneCoin Promoters Killed The report indicates that Mexican authorities found Oscar...Read More
The Commodity Futures Trading Commission (CFTC) has submitted a document to the New York Southern District Court to secure a default judgment against Benjamin Reynolds, the director of alleged fraudulent cryptocurrency scheme Control-Finance. According to reports from Finance Feeds, Reynolds failed to plead or defend the CFTC’s action, thus forcing the regulator to obtain a...Read More
The US Federal Bureau of Investigations (FBI) said that the $15.3 million that a Nigerian scammer stole from two Chicago-based firms might not be recovered because the funds were converted to Bitcoin. Alleged Nigerian Scammer Arrested, But He Apparently Doesn’t Reveal Bitcoin Keys Nigerian media reported that Olalekan Jacob Ponle, nicknamed Woodberry, organized large-scale business...Read More
A 52-year-old Singaporean man has been found guilty of promoting the infamous OneCoin cryptocurrency Ponzi scheme more than three years ago. Man to Pay $72,000 As Fine According to reports by local media The Straits Times, Fok Fook Seng, a middle-age Singaporean citizen, was convicted for engaging in marketing activities that link to OneCoin between...Read More
The perpetrators behind the alleged cryptocurrency Ponzi scheme PlusToken have transferred over 26 million EOS tokens from one of the wallets linked to the project to an unknown address. Historically, similar events have driven down the price of the moved asset, which brings the question if there will be any short-term consequences for EOS. PlusToken...Read More
A recent report warns of a scam that clones a legitimate service offering private, encrypted, and self-destructive messages, to alter BTC addresses and ultimately steal funds from unsuspecting victims. Stealing BTC By Altering Addresses According to the report by KrebsonSecurity, a fraudulent website called Privnotes has been impersonating Privnote.com for about a year. Users are...Read More
A recent cryptocurrency scam running live on YouTube managed to dupe nearly $150,000 in Bitcoin from victims. Interestingly, the scam impersonated Elon Musk’s SpaceX channel and broadcasted recorded videos of the recent successful launch of two astronauts to the International Space Station. SpaceX And BTC Giveaway Scam Fraudsters are frequently attempting to dupe victims with...Read More
Fraudulent projects within the cryptocurrency field are occurring rather often, and the latest one comes in the form of Bitgrin (XBG), according to a recent report. It reads that the project creator has minted 5 billion tokens while advertising that the total supply is capped at 21 million. Bitgrin’s Creator Scammed Investors? Bitgrin launched as...Read More
A European civil society organization promoting digital rights has issued warnings regarding new cryptocurrency-related scams. By impersonating reputable websites and running fake advertisements on Facebook, the scammers are duping victims to provide personal data and to invest in unexisting digital asset projects. Fake Cryptocurrency Investment Opportunities The North Macedonia-based Metamorphosis Foundation – a member of...Read More
Scammers are impersonating Tron founder Justin Sun in an attempt to steal money from unsuspecting victims. The scammers target cryptocurrency projects under the guise of forming partnerships with Tron. They even go so far as to invite victims to a “live” Skype call with Tron CEO Justin Sun himself. But when invitees launch the Skype...Read More
Founder and CEO of Social Capital, Chamath Palihapitiya, and current Los Angeles Clippers owner Steve Ballmer were the latest popular individuals to had their names involved in fake Bitcoin giveaways on YouTube. With the rising number of similar scams on social media platforms, the question remains on the potential consequences on the community and legitimate...Read More
Recent Chinese reports indicate that a new cryptocurrency scam, resembling the notorious PlusToken, has been brought to trial this week. Dubbed WOTOKEN, allegedly scammed over 700,000 users and absorbed more than $1 billion worth of Bitcoin and other digital assets. The New Chinese Threat: WOTOKEN According to local reports, the trial began on May 14th...Read More
