Xunlei, a $220M-worth Nasdaq-listed cloud computing and blockchain company based in China, is at the center of a controversy after the company announced that its former CEO, Chen Lei, was under police investigation for dereliction of duty and embezzlement. Lai is also accused of misappropriating tens of millions of yuan over the past year in...Read More
2019 was a crazy year for cryptocurrency enthusiasts and a number of interesting events happened throughout the last 12 months. It’s hard to keep track of the day-to-day activities taking place within the cryptosphere and there may be a few incidents some of our readers missed. At news.Bitcoin.com we took the opportunity to scan our...Read More
Chinese law enforcement recently busted 72 individuals connected to the Cloud Token (CTO) scam. The Ponzi was similar to the Plustoken fraud and CTO scammers made off with $500 million. According to regional press, the CTO scam artists are likely connected to the Plustoken swindlers. Moreover, after the Cloud Token arrests in China, police in...Read More
On Monday, the blockchain surveillance company Chainalysis published an excerpt from the firm’s upcoming crime report that will publish in January. According to the Chainalysis research, the Ponzi scheme called Plustoken not only defrauded investors out of $3 billion but the scam “may also be driving down the price of bitcoin.” Also read: Mystery Surrounds...Read More
The Onecoin scam, a multi-level Ponzi scheme that acquired $4 billion from investors has been falling apart at the seams. Criminal proceedings have started against Onecoin leaders and one alleged associate who was found guilty of laundering $400 million has asked a New York judge for more time to process an acquittal motion. Additionally, according...Read More
