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India to develop dark net monitoring tool to combat crypto fraud: Report
22.9.2023
The tool will monitor crypto wallets and alert the Indian Ministry of Home Affairs about irregular transactions, according to a report
Ex-Deutsche Bank Investment Banker Faces Up to 30 Years in Prison for Crypto Fraud
21.9.2023
A registered broker and former investment banker with financial giant Deutsche Bank has pleaded guilty to defrauding investors into a fraudulent crypto fund. He is facing up to 30 years in prison and will be required to pay restitution of more than $1.5 million, according to the U.S. Justice...
Former Deutsche Bank exec pleads guilty over ‘R3 Crypto Fund’ scheme
20.9.2023
Rashawn Russell faces up to 30 years in prison for his role in the fraudulent cryptocurrency trading scheme
Former Deutsche Bank Investment Banker Faces up to 30 Years in Prison for Crypto Fraud
20.9.2023
A former investment banker from Deutsche Bank, Rashawn Russell, has pleaded guilty to charges of misappropriating funds from investors through promises of higher returns from cryptocurrency trading, as confirmed by the U.S. Justice Department.
Russell now faces up to 30 years in prison when he...
Philippines SEC teams up with US counterpart to combat crypto fraud
20.9.2023
The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime
SEC Chair: Crypto Is a Field Rife With Fraud, Abuse, Misconduct — ‘It’s Daunting’
14.9.2023
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler testified before the Senate Banking Committee, stating that crypto is “a field which is rife with fraud, abuse, and misconduct.” He also stated that the securities regulator is still reviewing applications for spot bitcoin...
20-Year Prison Term for OneCoin Co-Founder Karl Greenwood in Landmark Crypto Fraud Case
13.9.2023
Karl Greenwood, the co-founder of infamous crypto scam OneCoin, has been sentenced to 20 years in prison by a New York judge.
US District Judge Edgardo Ramos, who presided over Greenwood's sentencing, characterized the fraud in the OneCoin case as "massive in many respects" and likened it...
Israeli Police Accuse Crypto Businessman Moshe Hogeg of $290 Million Fraud
25.8.2023
Following a two-year long investigation, police have alleged that Israeli tech entrepreneur Moshe Hogeg defrauded investors of $290 million. Hogeg and several of his partners are accused of spending the money they collected from Israeli and foreign investors for crypto ventures to lead...
Crypto Fraud Scheme Organizers Face Legal Action by CFTC in Florida, Louisiana, and Arkansas
13.8.2023
The Commodity Futures Trading Commission (CFTC) has taken legal action against four individuals and their organization, Fundsz, for their involvement in a fraudulent scheme related to cryptocurrencies and precious metals trading. ...
Read More: Crypto Fraud Scheme Organizers Face Legal Action...
CFTC charges residents of Florida, Louisiana, Arkansas for crypto fraud
12.8.2023
The regulatory body asserts that the defendants managed to entice over 14,000 individuals by creating false weekly returns
CFTC charges residents of Florida, Louisiana, Arkansas for crypto fraud
12.8.2023
The regulatory body asserts that the defendants managed to entice over 14,000 individuals by creating false weekly returns
Blockchain Security Firm Forta Upgrades Its Scam Detector to Battle Growing Crypto Fraud
8.8.2023
Hundreds of millions of dollars have been lost to scams and exploits in July alone
SEC Charges 18 Utah Defendants in $50M Crypto Fraud Scheme
3.8.2023
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SEC Chair Gary Gensler Says Crypto Is a Highly Speculative Field ‘Rife With Fraud’
30.7.2023
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has called crypto “a highly speculative asset class” and a field that is “rife with fraud.” He stressed that there are far too many bad actors in crypto, noting that crypto platforms often commingle funds...
US DOJ Seeks 6-8 Weeks to Process Evidence in Alex Mashinsky's Crypto Fraud Case
26.7.2023
The US Department of Justice (DOJ) has requested six to eight weeks to gather evidence for its case against Alex Mashinsky, the founder and former CEO of cryptocurrency lender Celsius.
In a court filing on Tuesday, Judge John G. Koeltl announced that the next conference for the case will take...
US state agency issues alert on crypto fraud happening over social media
21.7.2023
Vermont issued the investor alert after a 74-year-old man lost his life savings of over $340,000 in a crypto fraud orchestrated over Instagram and Telegram
Turkish Court Sentences Founder of Defunct Crypto Exchange Thodex to More Than 7 Months in Prison
20.7.2023
A Turkish court has sentenced Faruk Fatih Özer, the founder of the collapsed cryptocurrency exchange Thodex, to an effective seven months and 15 days in prison. During the trial, Özer denied being an executive of the crypto exchange when the platform allegedly failed to furnish the Tax Inspection...
Ex-Trader Ackerman Ordered to Pay $54 Million Fine for Crypto Fraud
29.6.2023
The former New York Stock Exchange broker Micahel Ackerman has been ordered to pay $54 million in penalties by a federal court for running a crypto fraud, as per a release from the Commodity Futures Trading Commission (CFTC).
A judge at the Southern District of New York court has banned Ackerman...
CFTC issues $54M default judgment against trader in crypto fraud scheme
28.6.2023
As a result of the judgment, the defendant is also now prohibited from engaging in any trading activities within markets regulated by the CFTC and is barred from registering with the regulatory body
Former NYSE Broker to Pay $54M to Settle CFTC Crypto Fraud Charges
28.6.2023
Michael Ackerman pleaded guilty in 2021 to charges of defrauding around 150 investors for $33 million in a digital asset trading scheme