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Biggest Movers: DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday
1.4.2023
Dogecoin rose to its highest point in over a week, as Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. The suit claims that Musk operated a pyramid scheme, following his endorsements of dogecoin. Litecoin was another token to climb on Saturday. Dogecoin...
Jake Paul-endorsed SafeMoon gets hacked after introducing a bug in upgrade
29.3.2023
A public burn() function introduced in the latest upgrade allegedly allows users to burn tokens from other addresses
French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud
28.3.2023
On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial...
National Exchanges Reportedly Pause Operations in Venezuela, as Attorney General Confirms Crypto Watchdog Sunacrip Involvement in Oil Sale Schemes
28.3.2023
National cryptocurrency exchanges have paused their activities in Venezuela according to reports, as the anti-corruption probe on national crypto watchdog Sunacrip and unlawful oil sales continues in the country. Tarek William Saab, attorney general, confirmed the involvement of the institution...
Onecoin Head of Legal and Compliance Charged for Role in Crypto Pyramid
22.3.2023
Authorities in the U.S. have announced charges against a former Onecoin executive for her alleged role in the notorious crypto pyramid scheme. Bulgarian national Irina Dilkinska, who was extradited on Monday, may face up to four decades in prison if found guilty on counts of fraud and money...
Report: Egyptian Police Arrest 29 Alleged Masterminds of Crypto Mining App Scam
14.3.2023
The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests....
FBI Warns About Cryptocurrency Theft Scams Using Play-to-Earn Games
13.3.2023
The FBI has issued a public service announcement (PSA) warning on the utilization of play-to-earn games as part of a scheme to defraud users of funds stored in the form of cryptocurrency. Criminals are introducing victims to this kind of game and then use malware to extract the funds from...
Founders of Multimillion-Dollar Global Crypto Ponzi Scheme ‘Airbit Club’ Plead Guilty
10.3.2023
The founders and promoters of multimillion-dollar cryptocurrency Ponzi scheme Airbit Club have pleaded guilty to various criminal charges. Airbit Club victims were promised “guaranteed daily returns on any membership purchased,” the U.S. Department of Justice (DOJ) detailed. Airbit...
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’
9.3.2023
Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers...
AirBit Club execs face decades in prison after pleading guilty to $100M fraud
9.3.2023
Co-founder Rodriguez and senior promoters Millan, Aguilar and Chairez all recently pled guilty to the charges, while the other founder, Dos Santos pled guilty in October, 2021
Airbit Club Founders, Lawyer Plead Guilty to $100M Fraud Scheme
8.3.2023
The scheme's founders and promoters promised victims their money would be invested in a lucrative mining operation, but instead spent funds on cars, jewelry and luxury homes
SEC Files Emergency Action Against Bkcoin in $100 Million Crypto Fraud Scheme
7.3.2023
The U.S. Securities and Exchange Commission (SEC) has filed an emergency action against Miami-based investment adviser Bkcoin and one of its principals, Kevin Kang. “The defendants disregarded the structure of the funds, commingled investor assets, and used more than $3.6 million to make...
SEC accuses Utah firm of 'fraudulent' $18M crypto mining scheme
7.3.2023
The SEC said Green United’s operation was a fraud and the community was quick to quell fears of the SEC classing crypto mining as a security in the suit
SEC Files Emergency Action Against BKCoin for Running $100M ‘Ponzi-Like’ Scheme
6.3.2023
The U.S. Securities and Exchange Commission (SEC) was granted emergency relief by a Florida court on Monday to freeze and appoint a receiver for the assets of Miami-based crypto hedge fund BKCoin and one of its co-founders, Kevin Kang
US Sentences Man to 3 Years in Prison for Defrauding Investors in Crypto Mining Scheme
6.3.2023
A U.S. district judge has sentenced a man to three years in prison in a fraudulent cryptocurrency mining scheme. The defendant “misappropriated his victims’ money and failed to provide them with the miners and miner-hosting services they had purchased from him,” according to...
Mirror Trading International Liquidators Spent More Than $6 million on Lawyers and Investigators
27.2.2023
Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers’ or consultants’ fees. Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered...
Feds discover DeFi’s alleged $340 million Ponzi scheme
24.2.2023
Centralized exchanges are under threat of being reprimanded by regulators in the US. When it appeared that things would be limited to the exchange sector, it was discovered that another sector was preparing for a serious allegation: decentralized finance (DeFi). In light of recent events, the...
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....
Former Cohasset High School Employee Accused of Stealing Thousands in Electricity to Mine Bitcoin in School Campus Crawlspace
23.2.2023
A former school assistant facilities director in Cohasset, Massachusetts, has been accused of operating a cryptocurrency mining operation inside a crawlspace at Cohasset High School. The Cohasset Police Department alleges that Nadeam Nahas stole nearly $18,000 in electricity to power the crypto...
Forsage founders indicted over $340M DeFi ‘Ponzi scheme’
23.2.2023
According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme