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High-Return Crypto Scheme Hit With Cease-and-Desist in Texas
11.10.2024
Texas regulators have issued an emergency cease-and-desist order against two individuals accused of promoting a fraudulent cryptocurrency investment scheme. The alleged scheme, tied to Trage Technologies, promised high returns on digital asset arbitrage trading but is accused of misleading...
US, Canadian investors to get full compensation in GSB Group settlement
9.9.2024
The German group is accused of running a multilevel marketing scheme that took in hundreds of millions of dollars in supposed crypto and metaverse investments
US, Canadian investors to get full compensation in GSB Group settlement
9.9.2024
The German group is accused of running a multilevel marketing scheme that took in hundreds of millions of dollars in supposed crypto and metaverse investments
SEC Charges Novatech in $650 Million Crypto Fraud Scheme
13.8.2024
The U.S. Securities and Exchange Commission (SEC) has charged the masterminds behind Novatech with running a fraudulent $650 million crypto scheme. Novatech allegedly operated as a multi-level marketing and crypto asset investment program, where most investor funds were misappropriated to...
Texas Issues Emergency Cease and Desist Against Arkbit’s Crypto Operations
30.5.2024
The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme. Promising daily returns...
Arkbit crypto mining MLM fraud busted by Texas regulators
29.5.2024
Arkbit falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies
SEC Obtains Investigative Subpoena Against NovaTech Crypto Investment MLM Promoters
15.2.2024
The United States Securities and Exchange Commission (SEC) has announced that it obtained a court order to enforce an investigative subpoena against two NovaTech crypto investment scheme promoters. In a recent press release, the financial regulator disclosed updates in its investigation against...
SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors
6.11.2022
The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised more than $295 million in bitcoin. SEC Says ‘Trade Coin Club’ Is a Crypto Ponzi Scheme...
FBI Profiles Top 10 Most Wanted Fugitive ‘Crypto Queen’ Ruja Ignatova of Onecoin Scam
1.9.2022
The Federal Bureau of Investigation (FBI) profiled the Onecoin cryptocurrency scam and its co-founder Ruja Ignatova, aka “Crypto Queen,” in a new podcast. Onecoin was one of the world’s biggest crypto scams and Ignatova was recently added to the FBI’s 10 most wanted...
Mama Bitcoin: Fishing for female empowerment with crypto in West Africa
8.3.2022
A Senegalese woman is empowering her community with Bitcoin, blockchain and a Bitcoin bakery idea that became a crypto fishery
Shop.com Announces Cryptocurrency Acceptance to ‘Kick off the Next Chapter’ of Business
2.9.2021
This past weekend at the Market America Worldwide Shop.com 2021 International Convention (MAIC2021), the president of the e-commerce firm, Steve Ashley, announced Shop.com sites from around the world will be accepting cryptocurrencies via Bitpay. This means that bitcoin, ethereum, bitcoin cash,...
Lawsuit Accuses Korean Crypto Exchange of $3.5 Billion Scam, Tens of Thousands Defrauded
5.6.2021
A class action lawsuit has been filed in South Korea accusing cryptocurrency exchange V Global of defrauding investors. The police reportedly estimate that 69,000 people have invested with the crypto exchange and the damage amounts to 3.8 trillion won. Crypto Exchange Sued for Defrauding Investors...
South Korean Police Raid Crypto Exchange Allegedly Involved in a $214M Multi-Level Marketing Fraud
6.5.2021
Authorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors....
‘MLM Crypto Exchange’ Victims ‘Mainly Pensioners and Housewives’
5.5.2021
Source: Adobe/Coloures-Pic
Police in South Korea are continuing their investigation into the crypto exchange V Global, with some reports claiming that up to 40,000 investors may potentially have been left out of pocket – most of whom have been described as “elderly citizens and housewives.”
Police...
Crypto Exchange Raided on MLM Fraud Charges, USD 214M In Assets Frozen
4.5.2021
V Global, a South Korean crypto exchange has been raided by police, with the firm’s CEO placed in custody, homes, and offices searched, and assets frozen – with the trading platform accused of masterminding a large-scale, illegal multi-level marketing operation.
Police succeeded in obtaining court...
Blockchain Australia ousts retail merchant crypto project Qoin
24.2.2021
Blockchain Australia has terminated Qoin’s membership of the association amid allegations that the crypto project is a pyramid scheme
S Korean Province Vows ‘Intense’ Clampdown on Crypto-themed MLM Fraud
23.2.2021
The government of Gyeonggi Province, the most populous province in South Korea and a hub of IT companies, has announced it will make an “intense” crackdown on crypto-flavored multi-level marketing schemes (MLMs) and bogus initial coin offerings (ICOs).
Per Asia Kyungjae, the province’s police...
Antier Solutions Executes Transactions Worth $100 Million on Blockchain MLM Platforms
10.2.2021
PRESS RELEASE. After transforming businesses across various industries, blockchain has combined with MLM (Multi-level Marketing) to bring profound, positive changes in the industry. India’s Antier Solutions has executed transactions worth a 100 million USD across its blockchain based...
Scams are driving South African authorities to regulate crypto trading
27.1.2021
The Financial Sector Conduct Authority is demanding tighter regulatory control over cryptocurrency
The Advantages of Joining the Mining City Community
21.12.2020
This article explains the characteristics of the network marketing community based on Mining City and answers one not so simple question – why do most people fail in Multi-Level Marketing? What Google Won’t Tell You About Mining City Network marketing – also known as Multi-Level...