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Breaking: Tether Investigation Reveals Use of Fraudulent Documents and Obscured Identities to Open Bank Accounts
3.3.2023
Amid struggles to maintain access to the global banking system, the companies behind Singapore-based USDT stablecoin issuer Tether used a mixture of fraudulent documents, obscured identities and shell companies, according to a new bombshell report by the Wall Street Journal....
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FTX Cautions Public About Fraudulent 'Debt Tokens' and Scams Alleging Association with the Insolvent Exchange – What's Going On?
20.2.2023
The bankrupt crypto exchange FTX has warned the public about tokens issued by groups who claim to be working on its behalf.
In a tweet posted by the debtors who now control the FTX bankruptcy estate, crypto investors were urged to be “on alert for scams from entities claiming to be affiliated with...
Binance US Refutes Reports Comparing It to Fraudulent Crypto Exchanges
20.2.2023
Binance US has refuted reports that draw parallels between it and “fraudulent exchanges that have gone bankrupt.” The U.S.-based crypto trading platform stressed that “only Binance.US employees” have access to its bank accounts, denying the allegation that global crypto...
Democrats to Return 2.2% of $45.2 Million Donation Made by FTX’s Co-Founder Sam Bankman-Fried
19.2.2023
After the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), donated $5.2 million to Joe Biden’s campaign in 2020 and more than $40 million to Democrats leading up to the U.S. midterm election cycle, three major Democratic organizations plan to return 2.2% of the funds, or $1 million,...
JPMorgan CEO Says BTC Is Fraudulent, a ‘Pet Rock;’ Bank of America Says CBDCs Are ‘Natural Evolution’ — Bitcoin.com News Week in Review
29.1.2023
JPMorgan CEO Jamie Dimon has reiterated his supposed skepticism of bitcoin, recently calling it a “hyped-up fraud,” and a “pet rock.” For it’s part, Bank of America has said that it views central bank digital currencies (CBDCs) and stablecoins as a “natural...
SEC Charges Team Behind Coindeal Crypto Fraud That Promised 500,000 Times Investment Returns
7.1.2023
The U.S. Securities and Exchange Commission (SEC) has charged the team behind Coindeal, a $45 million fraudulent crypto investment scheme. The regulator explained that the defendants falsely claimed that Coindeal “would generate investment returns of more than 500,000 times...
Magic Eden to refund users after 25 fake NFTs sold due to exploit
5.1.2023
Over two dozen fake NFTs were sold on the Magic Eden marketplace over a 24-hour period due to a "massive exploit" on the platform
Modified Video of FTX Founder Sam Bankman-Fried Directs Users to Fraudulent Website - This is What You Need to Know
22.11.2022
A modified video of Sam Bankman-Fried, founder and former CEO of collapsed crypto exchange FTX, is trying to trick users into a fake crypto giveaway and potentially steal their funds.
Over the weekend, a deepfake video impersonating SBF was circulating on Twitter. To make the fake video more...
Federal Reserve Bank President Says ‘Entire Notion of Crypto Is Nonsense’
22.11.2022
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says crypto exchange FTX isn’t “one fraudulent company in a serious industry.” Stating that the “Entire notion of crypto is nonsense,” the Fed president claimed it is “just a tool...
SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors
6.11.2022
The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised more than $295 million in bitcoin. SEC Says ‘Trade Coin Club’ Is a Crypto Ponzi Scheme...
CFTC Issues Order Against Fraudulent Crypto Arbitrage Company
4.11.2022
The Commodity Futures Trading Commission (CFTC) has issued an order against the CEO of a fraudulent crypto trading firm "Abritraging.co."
Mastercard Debuts Blockchain Surveillance Tool for Banks and Crypto-Centric Card Issuers
4.10.2022
On Tuesday, the multinational financial services corporation Mastercard revealed that it is launching a new crypto monitoring product called Crypto Secure. The Crypto Secure software aims to leverage artificial intelligence (AI) algorithms in order to help banks and crypto-centric debit card...
Head Trader of $100M Global Crypto Ponzi Scheme Pleads Guilty in US
13.9.2022
The head trader of a $100 million global cryptocurrency Ponzi scheme has pleaded guilty and is facing up to five years in prison, according to the U.S. Department of Justice (DOJ). “The defendants allegedly misappropriated large sums of investors’ money to lease a Lamborghini, shop...
South Korea Has Tracked USD 1bn Worth of Fraudulent Crypto Transactions This Year
12.9.2022
A staggering USD 1 billion worth of fraudulent crypto-related transactions has been identified in South Korea in the first half of 2022, new data shows.
According to Asia Kyungjae, the figures were compiled by the Korea Customs Service and made public by the lawmaker Kang Byung-won.
The data...
Apple Shielded From Crypto Wallet App Lawsuit, Judge Rules
8.9.2022
A federal judge in California has ruled that Apple Inc. is shielded from the “Toast Plus” class action lawsuit where a fake crypto wallet app was available in the Apple App Store. A customer sued the tech giant after downloading the fraudulent app and lost some crypto. Apple...
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...
US Court Convicts ‘My Big Coin’ Founder in $6 Million Fraudulent Cryptocurrency Scheme
23.7.2022
A federal jury has convicted the founder of “My Big Coin” in a fraudulent scheme that swindled $6 million from cryptocurrency investors. The defendant made several false claims, including that the coins were backed by gold and that the company had a partnership with Mastercard. My...
FBI Warns of Fake Crypto Apps — 244 Investors Defrauded, $42.7 Million Lost
20.7.2022
The Federal Bureau of Investigation (FBI) has issued a warning about fake cryptocurrency apps defrauding investors. “The FBI has identified 244 victims and estimates the approximate loss associated with this activity to be $42.7 million,” said the U.S. law enforcement agency....
Russia Considers Jail Time for People Helping Crypto Scammers Launder Proceeds
15.7.2022
The interior ministry of Russia has decided to go after those providing money-laundering services to crypto fraudsters, suggesting they should go to prison. The department wants to introduce criminal liability for the activities of these people, also known as ‘droppers.’...
South Africa Charges Former Monero Lead Developer With 378 Counts of Fraud and Forgery
3.6.2022
Former Monero lead maintainer, Riccardo Spagni, faces over 370 counts of fraud, forgery, and uttering. The charges against the developer stem from fraudulent activities he allegedly committed when he was still employed by Cape Cookies. Fluffypony Pleads Not Guilty The so-called crypto mogul...