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Co-Founder of Russia’s Largest Crypto Pyramid Finiko Arrested in UAE
18.11.2022
One of the founders of Russia’s most notorious Ponzi scheme in recent times, Finiko, is in detention in the United Arab Emirates, according to a Russian media report. The close associate of the crypto pyramid’s mastermind left the Russian Federation as the scam collapsed last summer....
3 key crypto price events to watch in the wake of the FTX and Alameda debacle
11.11.2022
FTX and Alameda’s Ponzi-like trading scheme has dealt a heavy blow to the entire crypto industry. Here are three developments to keep a close eye on
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...
SEC Charges Coin Club Founders for $295 Million Ponzi Scheme
5.11.2022
The US Securities and Exchange Commission (SEC) has filed charges against the founder and three promoters of Trade Coin Club, arguing that they duped investors into sinking money in a fraudulent crypto trading bot....
Read More: SEC Charges Coin Club Founders for $295 Million Ponzi Scheme
SEC Charges Trade Coin Club Founding Members With Operating a $295-Million Ponzi Scheme
4.11.2022
The multi-level marketing organization raised over 80,000 bitcoin from 100,000 investors
Crypto Firm Freeway Updates Community, Says Trading Strategy ‘Failed’ and ‘Caused a Substantial Loss’
27.10.2022
Four days ago, the crypto rewards platform Freeway.io, formally called Aubit, halted withdrawals on October 23 after citing it was protecting the firm’s portfolio from “market fluctuations and volatility.” Two days later, the team updated the community and explained on Tuesday that “one...
A Crypto Rewards Platform That Promised 40% APY Halts Withdrawals, Citing ‘Market Fluctuations’
24.10.2022
A crypto rewards platform called Freeway.io has notified users that it decided to reallocate capital in order to “manage exposure to future market fluctuations and volatility.” In doing so, users are unable to withdraw funds from the platform, and the Freeway team explained that amid...
JPMorgan CEO Jamie Dimon Tells Congress Crypto Tokens Like Bitcoin Are ‘Decentralized Ponzi Schemes’
23.9.2022
JPMorgan Chase CEO Jamie Dimon said in a U.S. congressional hearing that crypto tokens, like bitcoin, are “decentralized Ponzi schemes.” He told lawmakers: “I’m a major skeptic on crypto tokens which you call currency.” JPMorgan CEO Jamie Dimon Calls Crypto Ponzi...
Jamie Dimon Attacks Crypto Tokens as ‘Decentralized Ponzi Scheme’ But He’s Happy With Regulated Stablecoins
22.9.2022
Jamie Dimon, the chairman and CEO of Wall Street investment bank JPMorgan, has taken another swing at cryptocurrencies, with a particular focus on bitcoin (BTC), telling the U.S. Congress that cryptos were “decentralized Ponzi schemes”. At the same time, Dimon said he accepts the added value...
US Sentences Promoter of $3.4B Bitconnect Crypto Ponzi Scheme to 38 Months in Prison
20.9.2022
The U.S. has sentenced a Los Angeles man to 38 months in federal prison for his role in the $3.4 billion Bitconnect crypto Ponzi scheme. He admitted to earning no less than $24 million from the scam, all of which will now be “repaid to investors in restitution or forfeited to...
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...
Elon Musk’s $258 Billion Dogecoin Lawsuit Grows as New Defendants, DOGE Investors Join
9.9.2022
The $258 billion lawsuit filed against Elon Musk, Tesla, and Spacex over their dogecoin promotion has expanded with new defendants and DOGE investors added. The plaintiffs allege that the meme cryptocurrency dogecoin is a Ponzi scheme, emphasizing that Musk and his companies “falsely...
Florida Man Pleads Guilty to Role in $100M Crypto Investment Ponzi Scheme
8.9.2022
EmpiresX’s “Head Trader” Joshua David Nicholas, 28, faces up to five years in prison for his role in the scam
Celsius Resembled Ponzi Scheme at Times, Vermont Regulator Says
7.9.2022
Vermont's Department of Financial Regulation alleged that crypto lender Celsius boosted its balance sheet by counting its CEL token holdings as assets, boosting those tokens' value and "artificially inflating" its net value
Zugacoin Controversy: Supposed Poverty Eradicating Cryptocurrency Criticized as Just Another Complex Nigerian Ponzi Scheme
27.8.2022
After reports that merchants and holders of “Zugacoin” cryptocurrency are unable to make withdrawals, the founder of the Nigerian crypto, Sam Zuga responded by accusing unnamed “ignorant people” of working to tarnish the project. One Nigerian expert has advised...
How to tell if a cryptocurrency project is a Ponzi scheme
26.8.2022
Crypto Ponzi schemes have increased over the past couple of years. This is how to spot them
Schiff Says US Inflation Decline ‘Only Temporary,’ Mark Cuban Sued, JPMorgan CEO on Recession, Axie Infinity Update — Bitcoin.com News Week in Review
21.8.2022
Gold bug and economist Peter Schiff has warned that the seeming ease in inflation for the United States economy is nothing to get too excited about, as Shark Tank star billionaire Mark Cuban is facing a class action lawsuit for allegedly promoting a “massive Ponzi scheme.” In other...
Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors
20.8.2022
The Indian police have launched an investigation into Bitconnect and booked its founder after a bitcoin investor reported being defrauded by the global crypto “Ponzi scheme.” According to U.S. authorities, the scheme reached a market capitalization of $3.4 billion at its peak....
Indian police launch probe into BitConnect founder wanted by US SEC
17.8.2022
The Indian police launched an investigation against BitConnect co-founder Satish Kumbhani months after the U.S. SEC said he relocated from India
Billionaire Mark Cuban Sued for Allegedly Promoting a Massive Crypto ‘Ponzi Scheme’
14.8.2022
Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, is facing a class action lawsuit for promoting Voyager Digital’s crypto products. The plaintiffs claim that Voyager was “a massive Ponzi scheme” and Cuban “duped millions of Americans into...