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Australian Court Sides With ASIC in a Case Pitting the Regulator Against a Crypto Startup
11.2.2024
The Australian Securities and Investments Commission (ASIC) recently prevailed in its case against Block Earner after a court ruled that the crypto startup’s product offering violated the country’s Corporations Act. The judge ruled that the ASIC had “succeeded in establishing...
Thai authorities arrest five in 3,200-victim, $27M crypto scam
11.9.2023
Victims lost over $27 million worth of Thai bhat after investing in a fraudulent cryptocurrency investment platform
UK uses Love Island star to warn finfluencers on crypto and investment schemes
7.4.2023
The financial and advertising regulators posted a seven-part checklist to ensure these social media stars stay within the bounds of the law
Russian Founders of Defi Platform Forsage Indicted in $340 Million Crypto Ponzi Scheme
23.2.2023
Four Russians have been charged in the U.S. with operating a crypto pyramid and Ponzi scheme that defrauded investors of millions of dollars. If convicted, they would face a maximum penalty of 20 years in prison for their roles in the purportedly decentralized finance (defi) platform Forsage....
SEC Charges Team Behind Coindeal Crypto Fraud That Promised 500,000 Times Investment Returns
7.1.2023
The U.S. Securities and Exchange Commission (SEC) has charged the team behind Coindeal, a $45 million fraudulent crypto investment scheme. The regulator explained that the defendants falsely claimed that Coindeal “would generate investment returns of more than 500,000 times...
Italy and Albania Bust €15 Million Crypto Investment Scam
23.12.2022
Authorities in Italy and Albania have hit a fraud scheme enticing victims with promises of low-risk investments in cryptocurrencies. During an operation coordinated by Eurojust, investigators from the two countries searched a dozen locations and seized assets and computer equipment. Fraudsters...
Terrible crypto trader gets 42 months for fraud, claiming he was a total gun
12.5.2022
Jeremy Spence aka “Coin Signals” scammed around $5 million from 170 investors who were unaware their crypto was used to fund a Ponzi scheme
Another 6 Members of Finiko Crypto Pyramid Arrested in Russia
23.4.2022
Russian law enforcement authorities have detained six more members and executives of the notorious crypto Ponzi scheme Finiko. Police in the Republic of Tatarstan and Russia proper have conducted dozens of searches as part of an ongoing investigation into the pyramid, which defrauded investors...
Pakistanis Lose Millions to Crypto Scam, Pakistan Issues Notice to Binance
8.1.2022
Investors from Pakistan have become victims of a massive fraud using cryptocurrency. The country’s main law enforcement agency has issued a notice to crypto exchange Binance in relation to the scam which resulted in the loss of $100 million dollars for Pakistanis, media reports revealed....
Founder of Coin Signals Funds Pleads Guilty in Crypto Scam — Faces up to 10 Years in Prison
2.12.2021
The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ). Investors Scammed Into Investing...
Russian Court Confirms Arrest Warrants for 3 Finiko Founders
20.9.2021
Tatarstan’s highest court has rejected appeals against arrest warrants issued for three co-founders of the notorious Finiko crypto pyramid. The top representatives of the Ponzi scheme, accused of large-scale fraud in Russia, are still hiding abroad, media reports reveal. Three Finiko Ponzi...
National Court of Spain Takes the Investigation of the Alleged Ponzi Crypto Scheme Arbistar
23.4.2021
The investigation against an alleged major Spanish Ponzi crypto scheme will now be in charge of the National Court of Spain. A judge from the national legal instance is now taking the investigation of Arbistar after the inhibition of a judge in Tenerife. Economic Damages Could Reach Over $120...
Lawyer Who Represents Victims of Alleged Spanish Crypto Ponzi Says It Could Be the ‘Biggest One’ in the Country
16.12.2020
The Arbistar case victims’ defense lawyer claims that the overall number of those affected amounts to 32,000 families with at least 93.4 million euros ($113.55 million) in losses. Lawyer in Arbistar Case Reveals Details on Class-Actions Lawsuits Against the Alleged Crypto Ponzi Scheme During...
Mastermind of Alleged Billion Dollar Spanish Pyramid Scheme Arrested, Faces 16 Year Prison Sentence
23.10.2020
The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization and money laundering. Fuentes, who has been in hiding since September, was arrested at one of his properties in the south of Tenerife....