Tagged: scam

CFTC Charges Four Individuals with Fraud Pertaining to Digital Assets

The Commodity Futures Trading Commission (CFTC) has filed charges against four individuals pertaining to “fraudulently soliciting funds from customers to speculate in Bitcoin price movements.” Filed in the U.S. District Court for the Southern District of Texas, the CFTC alleges that Texas residents Mayco Alexis Maldonado… Read More

Self-Custody Crypto Exchange Deversifi CEO Disagrees with Idea that you’ve Joined the “Dark Side” for Not Condemning DeFi Protocol SushiSwap

Will Harborne, CEO at Deversifi, a self-custody digital asset exchange for “serious” traders, has said that he disagrees “very strongly” with the idea that anyone who does not “condemn” SushiSwap has joined “the Dark Side.” SushiSwap is a recently launched decentralized finance (DeFi) protocol that’s… Read More

Binance CEO Admits Exchange has to List Risky DeFi Coins, otherwise Traffic Goes to Others, Making them “Obsolete”

Zhao Changpeng

Changpeng Zhao or “CZ”, the CEO at Binance, the world’s largest digital asset exchange, has admitted that the trading platform must list new coins, regardless of whether it’s completely sure of the legitimacy of their business model, in order to remain competitive. Zhao noted: “If… Read More

Bithumb Keeps Listing New Cryptos like Polkadot (DOT), Seems like Business As Usual, but it’s Being Investigated for Fraud by South Korean Authorities

It seems like business as usual at South Korea’s largest crypto exchange Bithumb, as it recently added trading support for Polkadot (DOT) tokens, which now have a market cap of more than $5.6 billion, making it one of the largest digital assets in terms of… Read More

Coinbase CEO Brian Armstrong Claims Apple has been “Very Restrictive and Hostile” to Cryptocurrency

Brian Armstrong, CEO at San Francisco-based Coinbase, a leading digital asset exchange, claims that Apple (NASDAQ: AAPL) has been “very restrictive and hostile” to cryptocurrency during the past few years. Armstrong says that Apple is “still blocking some functionality right now, including the ability to… Read More

$115 Billion in Losses Reported due to Scams Involving China’s P2P Lending Platforms

Peer to peer (P2P) investors based in China are reportedly facing losses of over 800 billion yuan (appr. $115 billion) in unpaid debt, due to failed lending platforms, according to the head of the nation’s banking industry regulator. Guo Shuqing, chairman of the Chinese Banking… Read More

$5.7 Billion+ Cryptocurrency related Scam, Plus Token, Targeting Millions of Investors, Leads to Over 100 Arrests

Authorities in China have reportedly arrested 27 suspects who are allegedly responsible for conducting one of the largest cryptocurrency related scams, which is now well-known as the Plus Token Ponzi scheme. The arrests were made following extensive investigations by local agencies including China’s Ministry of… Read More

Chinese Scammers are Impersonating Central Bank Digital Currency Testers in order to Lure Victims into Fraudulent Investment Schemes

Cities throughout China are planning to begin testing (or already are) the country’s central bank digital currency (CBDC). Scammers have reportedly been impersonating CBDC testing groups. Tencent QQ reports that criminals have been promoting a scam that asks unsuspecting Chinese residents to sign up for… Read More

Digital Asset Exchange OKEx lists Polkadot (DOT), Partners with Web3 Foundation

Digital asset exchange OKEx claims that it’s now among the first cryptocurrency exchanges to have partnered with the Web3 Foundation, an organization established to nurture and steward technologies in the fields of decentralized web software protocols. The OKEx team also confirmed that they’ve now listed… Read More

Crypto Industry Slams Wirecard and Misplaced Funds: “You don’t get what you expect. You get what you inspect.” 

Wirecard AG (WPI:DE)  has emerged as one of the most embarrassing financial debacles in years in Germany. The implosion of the Fintech has demolished the reputation of the former CEO Markus Braun who was subsequently arrested following the revelation of €1.9 billion in missing funds…. Read More

Coinsquare CEO Responds to Data Breach

Coinsquare, a Canadian crypto exchange, has responded to the reports regarding a “hack” and data breach that apparently revealed data of 50,000 users. As the story goes, Coinsquare was approached by a reporter at Vice that claimed to have seen a sample of the stolen… Read More

Asset Freeze: SEC Alleges Cryptocurrency Mining and Trading Operation Scammed $12 Million from Investors

The Securities and Exchange Commission (SEC) has obtained an asset freeze and other emergency relief against Daniel F. Putnam, of Utah, Jean Paul Ramirez Rico, of Colombia, and Angel A. Rodriguez, of Utah, who allegedly scammed over $12 million from over 2000 investors in a… Read More

What’s Going on with Peer to Peer Lender Grupeer?

  A couple of months ago Grupeer, a peer to peer lender ostensibly based in Latvia, shut-down all lending and allegedly halted all investor redemptions. In multiple statements, Grupeer management claimed the COVID-19 pandemic had harmed its ability to operate. At the end of March,… Read More

SIM Swap Traps BlockFi Too in “Temporary Data Breach”

SIM Swaps, the nefarious act when criminals surreptitiously take over your mobile phone with a different SIM card, hit crypto lending platform BlockFi earlier this month. BlockFi quickly posted an “incident report” outlining the scam: “From approximately 07:17 UTC to 08:43 UTC on May 14,… Read More

Alleged Cryptocurrency Thief is a Suburban New York High School Senior, Terpin Sues to Get Money Back

  Michael Terpin has sued 18-year old Ellis Pinsky, a high school senior living in the posh New York City suburb of Irvington in Westchester County. Terpin alleges that Pinsky was the perpetrator of a “sophisticated cybercrime spree” that saw over $100 million stolen in cryptocurrency… Read More

SEC Files Fraud Charges Against Individual Who Raised Money for Cannabis Related Companies, Allegedly the Money was Spent on Crypto, Adult Entertainment, Cars & More

  The Securities and Exchange Commission (SEC) has filed fraud charges against Steven L. Brickner of South Florida. Brickner allegedly committed fraud in relation to $5.5 million raised to invest in Cannabis-related companies including one called “High Country” in Colorado. According to the SEC, Brickner… Read More

Huh? dForce Hacker Pilfers $25 Million in Crypto then Returns the Funds

On April 19th, Mindao Yang, founder of dForce, confessed that $25 million crypto had been stolen from his platform. In a blog post, Yang said Lendf.Me, the lending protocol of dForce, was attacked and a vulnerability was exploited to steal the digital assets. Today, it… Read More

Fintech Investment Group and Compcoin are Targets of CFTC Enforcement Action for Alleged Digital Asset Fraud

The Commodity Futures Trading Commission (CFTC) has filed fraud charges against Alan Friedland and his companies, Fintech Investment Group, Inc. and Compcoin LLC. The CFTC claims that Friedland and his Florida based firms fraudulently solicited over $1.6 million in connection with a leveraged or margined… Read More

New Zealand’s Financial Markets Authority Warns Public of Potential “Profit Bitcoin” Scam

New Zealand’s Financial Markets Authority (FMA) announced on Monday it has concerns about the website “Profit Bitcoin” has the hallmarks of being a scam. The organization revealed it was made aware that the digital currency platform is advertising on Facebook by promoting false news about… Read More

Bitclub Fraud Suspects Look for Early Release Due to Coronavirus Fears

The alleged fraudsters involved in the BitClub $722 million crypto fraud are looking to be released from the county jail over fears of the COVID-19 pandemic. In December of 2019, the US Justice Department announced the indictment of three individuals. Matthew Brent Goettsche, 37, of… Read More

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