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Promoters and Attorney of $100 Million Crypto Mining Ponzi Scheme Sentenced to Prison
4.10.2023
Three individuals involved in a global fraud and money laundering operation linked to the cryptocurrency scheme, AirBit Club, have received prison sentence, Department of Justice revealed in a press release.
Scott Hughes, an attorney who played a key role in laundering approximately $18 million...
Former CEO of sham crypto miner IcomTech pleads guilty of wire fraud for Ponzi scheme
27.9.2023
Former IcomTech head Marco Ochoa is the latest crypto fraudster to face charges, while the CFTC charged another company and its head
Fraudster Faces 12-year Jail Sentence for $100M Crypto Ponzi Scheme
27.9.2023
Pablo Renato Rodriguez, co-founder of the major crypto-based pyramid scheme AirBit Club, has been sentenced to 12 years in prison by US District Judge George B. Daniels.
Rodriguez and his co-conspirators, including Gutemberg Dos Santos, orchestrated the AirBit Club scheme, which lured unsuspecting...
AirBit Club 'ponzi' co-founder gets 12 years prison
27.9.2023
Convicted fraudster Pablo Renato Rodriguez will also need to serve three years of supervised release after he finishes his 12 year imprisonment sentence
British Law Firm to Sue Onecoin Cryptoqueen to Recover Investor Funds
25.9.2023
A London-headquartered law firm is preparing a lawsuit against the fugitive mastermind of the Onecoin crypto pyramid scheme, ‘Cryptoqueen’ Ruja Ignatova. Its lawyers intend to file a class action suit in the United Kingdom’s High Court, the British press revealed. Fugitive Cryptoqueen May Face U.K....
Lawyer Who Laundered Onecoin Money Denied New Trial
20.9.2023
A judge in the U.S. has rejected a request by a lawyer who laundered $400 million from the Onecoin crypto pyramid to have a new trial. The ruling clears the path for sentencing 54-year-old Mark Scott despite a key prosecution witness admittedly lying in court. Judge Not Convinced in Onecoin...
Onecoin Co-founder Karl Sebastian Greenwood Sentenced to 20 Years in Prison
14.9.2023
One of the founders of the crypto pyramid Onecoin, British and Swedish national Karl Greenwood, has been sentenced to 20 years in prison in the United States. Greenwood was the architect of the scam’s multi-level marketing structure and served as Onecoin’s global master distributor. Cryptoqueen...
Ponzi vs. pyramid schemes: What’s the difference?
13.9.2023
Ponzi schemes promise returns generated from the money of future investors, while in pyramid schemes, income flows up through recruitment
Report: Brazilian Court Fines Mastermind of South African Bitcoin Ponzi Scheme
16.8.2023
A court in Brazil has found Johann Steynberg, the mastermind of the bitcoin ponzi scheme Mirror Trading International (MTI), guilty in a case in which he is accused of using a forged identity document. The court, however, commuted Steynberg’s three-and-a-half-year sentence to a fine of just...
Ponzi Token is Up 1,000% But Experts Say It's a Scam – Here's the Coin They're Buying Instead
7.8.2023
A new meme coin called PONZI has become the latest straight-to-DEX upstart to unlock moon-shot success, after an eye-watering +1,000% pump over the weekend has primed the chart for a second-rally.
Taking a shot at the anti-crypto crowd, PONZI token aims to make light of the often levied criticism...
Scottish Author Exposing Onecoin Cancels ‘Devil’s Coin’ Book Tour After Death Threats
7.8.2023
An author from Scotland has been targeted for her work to expose one of crypto history’s most notorious Ponzi schemes, Onecoin. Jennifer McAdam recently canceled book signings after receiving death threats for writing about the massive fraud and its ‘Cryptoqueen’ mastermind. Writer Cancels...
$7.8B lost in crypto ponzi and pyramid schemes in 2022: Report
28.6.2023
Illicit activities related to crypto increased across the sector in 2022 despite an overall market downturn
Crypto Ponzi Schemes Cost Victims $7.8B in 2022: TRM Labs
28.6.2023
Ponzi schemes dominated the crypto crime landscape in 2022, with $7.8 billion funneled from victims, blockchain analytics firm said in a new report
Lawyer Seeks Reopening of Onecoin Case in Bulgaria, Seizure of Assets
23.6.2023
A lawyer representing Onecoin victims has urged Bulgarian authorities to reopen an investigation into the crypto pyramid scheme and seize assets to compensate his clients. The attorney is asking officials in Sofia to take into account developments he considers related to the case, including...
Gary Gensler: Crypto market is like 1920s stock market, full of 'fraudsters'
8.6.2023
Gensler argued that securities laws helped prevent stock market scams once they were passed in the 1930s and can benefit the crypto market of today
Quadriga CX Customers to Finally Receive Payout: Creditors to Get 13% per Dollar
13.5.2023
EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of C$215.7 million and assets totaling around C$28...
Ponzi Schemes, Restraining Orders, Bankruptcies, Congestions and 20 Crypto Jokes
13.5.2023
Read More: Ponzi Schemes, Restraining Orders, Bankruptcies, Congestions and 20 Crypto Jokes
Ireland's Central Bank Governor Labels Unbacked Cryptos as Ponzi Schemes
10.5.2023
Unbacked cryptocurrencies are more like a "Ponzi scheme" than an investment, argued Central Bank of Ireland Governor Gabriel Makhlouf - but adding that "crypto is not going away very soon."
In a Friday blog post, Makhlouf stated that Ireland's Central Bank differentiates between 'backed'...
Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’
7.5.2023
Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden...
Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss
7.5.2023
On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin....