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Report: Egyptian Police Arrest 29 Alleged Masterminds of Crypto Mining App Scam
14.3.2023
The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests....
Russian Founders of Defi Platform Forsage Indicted in $340 Million Crypto Ponzi Scheme
23.2.2023
Four Russians have been charged in the U.S. with operating a crypto pyramid and Ponzi scheme that defrauded investors of millions of dollars. If convicted, they would face a maximum penalty of 20 years in prison for their roles in the purportedly decentralized finance (defi) platform Forsage....
Forsage founders indicted over $340M DeFi ‘Ponzi scheme’
23.2.2023
According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme
Onecoin Cryptoqueen Killed in Greece in 2018, Report Claims
21.2.2023
Ruja Ignatova, founder of the crypto pyramid Onecoin, may have been murdered in Greece a year after her disappearance. According to an article, quoting а leaked report from a police informant, the “missing Cryptoqueen” was killed on a yacht in the Ionian Sea more than four years ago. Murder in...
Onecoin Cryptoqueen’s Ex-boyfriend Gets 5 Years in Prison
18.2.2023
A former boyfriend of Ruja Ignatova, the mastermind of the Ponzi scheme Onecoin, has received five years in prison. The sentence is for the laundering of hundreds of millions of dollars’ worth of proceeds from the notorious crypto scam which defrauded investors around the world. Ruja’s Former...
Bitconnect Victims to Receive Over $17 Million in Restitution From Ponzi Scheme
14.1.2023
More than $17 million in restitution will be distributed among investors in the pyramid scheme Bitconnect under a court order in the United States. The notorious crypto investment scheme defrauded thousands of people around the world. Bitconnect Investors From Dozens of Countries to Be Paid Back...
$4B OneCoin scam co-founder pleads guilty, faces 60 years jail
19.12.2022
The co-founder of the fraudulent scheme is set to be sentenced in April 2023 on charges relating to wire fraud and money laundering
Onecoin Co-Founder Pleads Guilty to Fraud Charges in US
18.12.2022
Karl Sebastian Greenwood, a co-founder and operator of Onecoin, has pled guilty to his part in building the notorious crypto pyramid. The fake cryptocurrency’s “global master distributor” has been in custody since 2018 when he was arrested in Thailand and extradited to the United States....
Another Member of Russian Crypto Pyramid Finiko Arrested in UAE
11.12.2022
Law enforcement authorities in the United Arab Emirates have detained a top Finiko representative, sought for his role in the crypto Ponzi scheme which defrauded thousands of investors around the world. This is the second arrest in the Gulf state of a high-ranking member of the pyramid announced...
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....
Report: BTC Mining Investment Platform Declared Pyramid Scheme by South African Consumer Watchdog
23.10.2022
According to the National Consumer Commission, about 4,000 South Africans who invested in a bitcoin mining equipment supplier, Obelisk, may have participated in a pyramid scheme. The commission said participants in the pyramid scheme may have lost as much as over $6 million. Obelisk Used Social...
Cryptoqueen Ruja Ignatova Tipped Off About Onecoin Investigations Before She Vanished, Report
22.10.2022
Ruja Ignatova, founder of the notorious crypto pyramid Onecoin, was reportedly alerted about police investigations into the scam before she disappeared. The ‘Cryptoqueen’ has been on the run for several years, wanted by law enforcement agencies around the world. Onecoin Mastermind Learned About...
Onecoin Cryptoqueen Associates Appear in German Court
21.10.2022
Three people are facing trial in Germany for their roles in one of the crypto world’s most infamous scams, Onecoin. The defendants are accused of fraud, among other crimes, allegedly committed as they assisted the pyramid scheme’s mastermind, ‘Cryptoqueen’ Ruja Ignatova, who is still on the run....
'Cryptoqueen' associates face German court for role in $4B OneCoin scheme
19.10.2022
The whereabouts of “Cryptoqueen” Ruja Ignatova are still unknown but the charges against OneCoin members are starting to pile up
California Launches Crackdown on 11 Crypto Firms Accused of Operating Ponzi Schemes
28.9.2022
The California Department of Financial Protection and Innovation (DFPI) has cracked down on 11 cryptocurrency companies that are accused of violating California securities laws. Nine of the firms reportedly solicited funds from investors in order to trade cryptocurrencies on the customer’s...
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...
SEC charges 11 individuals over $300M crypto ‘pyramid scheme’
2.8.2022
SEC has filed a lawsuit in the U.S. District Court against the founders and promoters of Forsage who allegedly fueled a $300 million “textbook pyramid and Ponzi scheme”
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...
Greek Police Scramble to Catch Onecoin’s ‘Cryptoqueen’ Ruja Ignatova, Local Media Reports
29.7.2022
Law enforcement in Greece has recently tried to locate Ruja Ignatova, founder of the infamous Onecoin pyramid scheme. According to a leading Greek daily, investigators acted on intelligence suggesting she was still in the country. Also known as ‘Cryptoqueen,’ Ignatova was last seen...
Over Half of This Year’s Financial Pyramids in Russia Involved Crypto, Bank of Russia Finds
17.7.2022
A majority of the financial pyramids identified in 2022 used cryptocurrencies in one way or another, Russia’s central bank announced in a new report. Amid Western sanctions, Russian scams have stepped up their activities, often claiming to be licensed by foreign authorities to offer access...