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Report: $540 Million Crypto Gaming Hack Made Possible By Elaborate Phishing Scheme
6.7.2022
NFT Pokémon clone Axie Infinity went from being famous for players profiting off its “play-to-earn” gaming scam to infamous for getting hacked out of $540 million in cryptocurrency. Now according to a new report by The Block we know what made the security breach possible: a sophisticated phishing...
US Regulator Charges South African MTI and Its Operator With $1.7 Billion Fraud Involving Bitcoin
2.7.2022
The U.S. Commodity Futures Trading Commission (CFTC) has charged Mirror Trading International (MTI) and its operator with a $1.7 billion fraud involving bitcoin. This action is the regulator’s largest fraud scheme case involving the cryptocurrency. CFTC Takes Action Against MTI The CFTC...
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
Harmony’s $100M Hack Was Due to a Compromised Multi-Sig Scheme, Says Analyst
26.6.2022
On June 23, 2022, the Harmony development team announced that $100 million was siphoned from the Horizon bridge, and the organization explained it was working with national authorities and forensic specialists. According to an account published Polygon’s chief information security officer...
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
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 Faces $258 Billion Lawsuit Over Alleged Dogecoin Pyramid Scheme
17.6.2022
Infamous internet clown and horrible SNL host Elon Musk and his two large companies, Tesla and SpaceX, are facing a ludicrously large $258 billion lawsuit over…uh…Dogecoin. As I’ve said before, 2022 is just a wild year of headlines. Read more
Musk, SpaceX, Tesla Sued for Alleged DOGE Pyramid Scheme
17.6.2022
Popular investor and business magnate Elon Musk, along with SpaceX and Tesla, were recently sued on Thursday for $258 billion by a DOGE investor, Keith Johnson. He accused Musk of running a pyramid scheme to back Dogecoin. The complaint was filed in Manhattan’s federal court, where plaintiff...
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...
Bitcoin Fraud-Accused South African Radio Presenter Threatens Legal Action
14.6.2022
Following accusations that he defrauded investors in his bitcoin investment scheme, the South African radio presenter Sebasa Mogale has said he will take legal action against individuals that have reported him to the police. His lawyer insisted that no evidence will be found because Mogale never...
Nigerian Court Sentences Crypto Fraudster to One Year in Jail, Accused Given Option to Pay Fine
11.6.2022
A Nigerian court has convicted and sentenced a man to one year in prison who is accused of duping an unsuspecting cryptocurrency investor. On its charge sheet, the prosecution said that the man had contravened Nigeria’s anti-fraud laws and hence should be punished accordingly. Fake...
How the Feds Are Prosecuting NFT Insider Trading Scheme as Wire Fraud – and Why That Matters
11.6.2022
If successful, the DOJ could theoretically use the case as a model to police market manipulation for other assets, regardless of whether they are considered securities. Regulators are watching
US Arrests Former Employee of Opensea NFT Marketplace in ‘First-Ever Digital Asset Insider Trading Scheme’
3.6.2022
The U.S. Department of Justice (DOJ) has indicted an employee of non-fungible token (NFT) marketplace Opensea in what the department called the “first-ever digital asset insider trading scheme.” DOJ Indicts Former Opensea Product Manager The DOJ announced Wednesday the unsealing of...
'NFTs May Be New, but This Criminal Scheme Isn't': Ex-OpenSea Head Arrested for NFT Insider Trading
2.6.2022
Nathaniel Chastain, former Head of Product at OpenSea, the largest non-fungible token (NFT) marketplace, has been arrested and charged with wire fraud and money laundering in connection with insider trading in NFTs.
On Wednesday, prosecutors in New York’s Southern District accused...
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
Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam
23.5.2022
South Africa’s national broadcaster has suspended one of its employees that is accused of convincing unsuspecting people, including pensioners, to invest in a cryptocurrency scam. More than 100 people are believed to have fallen victim to promises of very high returns to investors in...
CFTC Charges 2 Men With Running a $44M Crypto Ponzi Scheme
19.5.2022
Two U.S. residents have been charged with running a crypto Ponzi scheme that allegedly defrauded hundreds of investors out of a collective $44 million