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South African Regulator Zeroes in on Scams and Unregulated Firms in Its Second Crypto ‘Health Warning’
29.3.2021
South African regulator the Financial Sector Conduct Authority recently issued its second crypto “health warning” after it noticed increased reports of crypto-related losses suffered “in the past three months.” In the warning, the regulator reminds investors that since...
Florida man escapes paying a $4.5M SEC penalty over a crypto Ponzi scheme
25.3.2021
The founder of the Argyle Coin Ponzi scheme has escaped paying a $4.5 million penalty to the SEC for operating a “web of fraudulent companies.”
Is Bitcoin a Ponzi scheme? Pick your side in the latest Cointelegraph Crypto Duel!
5.3.2021
Kraken Bitcoin strategist Pierre Rochard debates professor of computer science Jorge Stolfi on whether Bitcoin meets the definition of a Ponzi scheme
Argentinean Prosecutor Investigates an Alleged Bitcoin Scam Ganancias Deportivas
16.2.2021
In Mendoza, Argentina, law enforcement launched an investigation against a sports-related investment site for presumably being a bitcoin scam. Among the inquiries, authorities are investigating if they’re involved in money laundering and tax evasion. Platform Claims to Invest Customer’s...
South African Regulator Warns Crypto Investors to ‘Be Prepared to Lose All’ Following Collapse of Bitcoin Trading Company MTI
5.2.2021
The Financial Sector Conduct Authority (FSCA) has issued what it terms crypto health warning after receiving many complaints from South African victims of crypto scams. In the warning, the FSCA reminds prospective investors that crypto-related investments are currently not regulated. Therefore...
Crypto Fund Manager Charged in $5M Ponzi Scheme, Facing up to 30 Years in US Prison
30.1.2021
A cryptocurrency fund manager has been charged in a U.S. federal court. He allegedly took over $5 million from investors interested in investing in his crypto funds, promising them high returns. In reality, he was running a Ponzi scheme and is now facing up to 30 years in prison. Crypto Fund...
Crypto crime dropped 57% in 2020 but DeFi hacks surged: CipherTrace
29.1.2021
Crypto crime rates are dropping despite a massive increase in attacks targeting the DeFi sector, reports security firm CipherTrace
South African Regulator Seeks More Crypto Powers After Alleged Ponzi’s Collapse
27.1.2021
“At the point something becomes a Ponzi scheme, we have lost our jurisdiction,” a regulator told Bloomberg
Scams are driving South African authorities to regulate crypto trading
27.1.2021
The Financial Sector Conduct Authority is demanding tighter regulatory control over cryptocurrency
Update: "Coin Signals" trader also faces charges from the CFTC
26.1.2021
Arrested by the FBI earlier today, the 24-year-old Spence also faces civil charges of fraud that look to bar him from future trading
FBI arrests 24-year-old crypto trader for commodities and wire fraud
26.1.2021
The trader was both lying to investors and using an unregistered derivatives strategy on BitMex
European Parliament Petitioned to Create Crypto Crime Compensation Fund
19.1.2021
A petition has been submitted to the European Parliament, asking to implement a scheme to compensate crypto-related victims. The crimes mentioned in the petition 0421/2020 include fraud, piracy, and extortion. Petition’s Author Represents Victims in the Bitsane Alleged Scam Case According...
GemCoin Founder Sentenced to 10 Years for $147M Crypto Scheme
12.1.2021
The judge scheduled a restitution hearing for victim investors this summer
MTI Bitcoins Sent to Privacy Mixers as New Data Breach Exposes the Ponzi Scheme’s Top Earners
10.1.2021
In another twist to the Mirror Trading International (MTI) bitcoin Ponzi scam, the blockchain intelligence firm Whitestream says bitcoins from wallets associated with the company are being sent to Wasabi privacy mixers. According to Whitestream’s update, this pivot to mixers suggests that...
Spanish Police Detain Four People Allegedly Involved in a $15M Crypto Ponzi Scheme
9.1.2021
The Spanish police detained four people of different nationalities this week for allegedly running a $15 million crypto Ponzi scheme. According to the police, “many victims” filed a complaint against them. Victims Believed Their Bitcoins Went to a Legit Company According to Policia...
Chilean Court Orders Two Major Banks to Keep Open Checking Accounts of Crypto Exchange Buda
5.1.2021
Chile’s Free Competition Defense Court (TDLC) ruled in favor of the Latin American cryptocurrency exchange Bud after their checking accounts were closed by two major banks in the midst of a lawsuit related to a Ponzi scheme unrelated to the exchange. Chilean Court Rejected Petitions From...
Bitcoin is a 'Ponzi' With Infinite Supply - Skeptics Chime In
29.12.2020
Bitcoin (BTC) is rallying, but that doesn't stop its critics from, well, criticizing it. It's perhaps even provoking them to increase their attacks on the world's number one crypto: calling bitcoiners 'irrational', questioning the coin's scarcity, calling it a fraud, and questioning if it's money...
CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked
24.12.2020
In an unexpected turn of events, the management team at Mirror Trading International (MTI) now suggest that their CEO Johann Steynberg may have exit scammed. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with...
OneCoin marketing guru in plea talks
19.12.2020
The "public face of OneCoin" is in plea talks for a range of charges
Lawyer Who Represents Victims of Alleged Spanish Crypto Ponzi Says It Could Be the ‘Biggest One’ in the Country
16.12.2020
The Arbistar case victims’ defense lawyer claims that the overall number of those affected amounts to 32,000 families with at least 93.4 million euros ($113.55 million) in losses. Lawyer in Arbistar Case Reveals Details on Class-Actions Lawsuits Against the Alleged Crypto Ponzi Scheme During...