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Kazakhstan Investigates Crypto Mining Hotel Allegedly Operating as Ponzi Scheme
10.8.2022
Authorities in Kazakhstan have launched an investigation into a mining hotel business suspected of being a crypto pyramid as part of an ongoing crackdown on illegal activities linked to cryptocurrencies. The platform, called Bincloud, lured investors through popular messaging apps. Bincloud...
Lebanon Ponzi Finance: World Bank Says Politicians Are to Blame for the ‘Deliberate Depression’
8.8.2022
Deliberately insufficient policy responses by successive Lebanese governments combined with the self-serving agreements by politicians are largely to blame for the country’s economic crisis, a report by the World Bank has said. The report concludes that the country needs to seriously engage...
SEC Charges 11 People in $300 Million Forsage Crypto Pyramid and Ponzi Scheme
2.8.2022
The U.S. Securities and Exchange Commission (SEC) has charged four founders and seven promoters of Forsage, which it described as “a fraudulent crypto pyramid and Ponzi scheme.” The scheme allegedly raised more than $300 million from millions of retail investors worldwide, including...
SEC Slaps Founders, Promoters of Alleged Ponzi Scheme Forsage With Fraud Charges
1.8.2022
The U.S. Securities and Exchange Commission (SEC) charged 11 people tied to the alleged $300 million crypto Ponzi scheme Forsage with fraud on Monday
Tokenomics not Ponzi-nomics: Influencing behavior, making money
28.7.2022
First Mover Asia: Binance Deserves Some Criticisms, but It’s Not a ‘Ponzi Scheme’; Bitcoin Tumbles
27.7.2022
Binance CEO Changpeng Zhao has a reasonable point in his lawsuit claiming defamation from a translated Chinese language article title; ether falls
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty
24.7.2022
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the...
How to identify and avoid a crypto pump-and-dump scheme?
16.7.2022
Pump-and-dump in crypto is an orchestrated fraud that involves misleading investors into purchasing artificially inflated tokens — typically marketed and hyped by paying celebrities and social influencers
Looking at the Claims Celsius Operated Like a Ponzi
12.7.2022
A new lawsuit alleges that a major crypto lender was, in fact, a Ponzi scheme. Happy Tuesday folks
Keyfi Founder Sues Celsius — Says Crypto Lender’s Entire Portfolio Had ‘Naked Exposure to the Market’
8.7.2022
On July 7, 2022, the pseudonymous non-fungible token (NFT) collector known as “0xb1” published a Twitter thread that discusses the collector’s true identity and his relationship with the crypto lending firm Celsius. According to 0xb1, otherwise known as Jason Stone, his team...
Analysts identify 3 critical flaws that brought DeFi down
30.6.2022
Poor risk management, insufficient revenue and the overuse of leverage are the core reasons why DeFi is crumbling
China Blockchain Alliance Executives: Virtual Currency the ‘Largest Ponzi Scheme in Human History’
29.6.2022
The chairman of China’s Blockchain Service Network (BSN) Development Alliance Shan Zhiguang, and his colleague, insisted in a recently published op-ed that virtual currency is “undoubtedly the largest Ponzi scheme in human history.” However, they have said the “value...
Research Firm FSInsight Accuses Three Arrows Capital of Running a ‘Madoff-Style Ponzi Scheme’
28.6.2022
3AC borrowed recklessly from just about every institutional lender in the business, FSInsight’s report said
China’s BSN chair calls Bitcoin Ponzi, stablecoins 'fine if regulated'
27.6.2022
Stablecoins like USDT and USDC would be doing just fine if properly regulated, while Bitcoin is a "Ponzi scheme" in any case, China's BSN chair told Cointelegraph
Swan Bitcoin CEO against crypto lenders: Users are way under-compensated for the risk
23.6.2022
The CEO of Swan Bitcoin, Cory Klippsten, criticizes Celsius Network and other centralized crypto lending platforms, warning of possible market contagion
Crypto influencers allegedly weaponize conspiracies to fleece QAnon followers
22.6.2022
Mixing conspiracy theories, a distrust for traditional institutions and hopium in crypto, two influencers are alleged to have made millions using pump-and-dump schemes
Kenyan Law Enforcement Agency Arrests Two Students Accused of Using Stolen Funds to Buy BTC
18.6.2022
Two Kenyan students accused of hacking credit cards and using the ill-gotten funds to buy bitcoin have been arrested by the Directorate of Criminal Investigations, a statement from the law enforcement agency has said. After converting the cryptocurrency to local currency, the two students would...
Elon Musk, Tesla, Spacex Facing $258 Billion Lawsuit for Promoting Dogecoin
16.6.2022
Elon Musk, Tesla, and Spacex are being sued for $258 billion over claims that they “are engaged in a crypto pyramid scheme (aka Ponzi scheme) by way of dogecoin cryptocurrency.” The lawsuit states that Musk and his companies “falsely and deceptively claim that dogecoin is...
Bulgarian Chief Prosecutor Accused of Willfully Failing to Act Against Onecoin Fraudsters
3.6.2022
The legal representative of victims of the Onecoin bitcoin scam operation, Jonathan Levy, has accused the Bulgarian prosecutor of deliberately failing to take action against Onecoin. The lawyer said due to the prosecutor’s inaction, more victims are losing millions of dollars to...
Binance’s CZ says he is ‘skeptical’ about the Terra relaunch
1.6.2022
Binance CEO CZ voices skepticism around the relaunch of the Terra blockchain and its new LUNA token following the latest fiasco