Tag Archives: Crypto Scam

The principal of a cryptocurrency escrow company, Jon Barry Thompson, has pled guilty in Manhattan federal court to commodities fraud. In 2018, he took over $3 million from one company and failed to deliver bitcoins worth that amount.Crypto Fraudster Pleads GuiltyThompson served as the director of Volantis Escrow Platform LLC and Volantis Market Marking LLC. According to the statement from the US Department of Justice (DOJ), he issued numerous promotional materials on behalf of the two...

Cryptocurrency fake giveaway scams continue to emerge frequently, and the latest example involves the popular DEX protocol Uniswap. Just a day following the UNI token release, scammers began promoting fake UNI giveaways by impersonating Uniswap’s creator – Hayden Adams.Fake UNI Giveaways On YouTubeAs CryptoPotato reported yesterday, the popular decentralized token swap platform launched its long-anticipated native token called UNI. The announcement was accompanied by news that Uniswap will...

Bitcoin and cryptocurrencies present numerous advantages over the traditional financial systems, including faster transactions, while paying only a fraction of the cost. The decentralized nature, meaning a lack of central authority behind them, has attracted lots of fans, investors, and users over the past decade.However, this same feature could also display some serious issues if one is not careful. Some of these problems could lead to the loss of funds, as the story of Yaniv reveals...

The U.S. SEC has fined Atlanta-based rapper Clifford Harris Jr, better known as T.I, along with other individuals for their involvement in two fraudulent initial coin offering (ICO) projects.T.I, Others Pay $125K in PenaltiesAccording to a press release by the U.S. Securities and Exchange Commission (SEC) on Friday (September 11, 2020), T.I, along with businessman Ryan Felton and three other individuals based in Atlanta, were involved in a fake pump and dump ICO scheme. The rapper was cleared...

After having his name involved in a Bitcoin impersonation scam, Ryanair CEO Michael O’Leary said that he never has and never will invest in the cryptocurrency. He went even further by referring to BTC as a Ponzi scheme, which he avoids like “the plague.”Ryanair CEO Involved In BTC ScamThe CEO of the low-budget European airline is the latest popular individual to have his name exploited in a Bitcoin impersonating scam after the likes of Tesla CEO Elon Musk, the Duke and Duchess of Sussex Harry...

After receiving a confirmation that a few employees of the Cebu operations of BPO firm Sykes have engaged in Bitcoin scams, the American tech giant Google has pulled out outsourcing business from the Philippines-based company branch.Google Pulls Out After A BTC-related ScamThe business process outsourcing (BPO) company Sykes confirmed earlier this month that several employees had been involved in illegal activities.“We serve many of the world’s largest brands with the highest levels of...

US authorities have charged with fraud and money laundering five people operating a Bitcoin mining Ponzi scheme. Called AirBit Club, the scam operated since 2015 and duped numerous victims into investing by promising alluring but false returns.How Did AirBit Club Operate?According to the US Department of Justice (DOJ), Pablo Renato Rodriguez and Gutemberg Dos Santos co-founded AirBit Club in late 2015. Cecilia Millan and Jackie Aguilar joined the project later on as promoters, and Scott...

In an effort to find a temp solution to deal with yesterday’s attack, Twitter has apparently made it impossible for users to post Tweets containing strings of letters and numbers in order to avoid any scam “giveaway” from sharing their cryptocurrency wallet addresses.Something Went Wrong: Twitter Blocks Wallet AddressesIndeed, when I tried to share a string of random letters and numbers, Twitter didn’t let me share the post public and asked me to “give it another shot.”Pending Twitter...

The third co-founder of the alleged cryptocurrency scam project Centra Tech, backed by celebrities such as Floyd Mayweather and DJ Khaled, is reportedly planning to plead guilty to duping investors into committing more than $25 million in its initial coin offering (ICO).The Third Centra Tech Inc’s Co-Founder Pleads GuiltyAccording to the report from Bloomberg, Sohrab “Sam” Sharma, one of Centra Tech’s co-founders, has agreed to change his plea before his scheduled trial date in November 2020....

Another crypto scam is in the books. A 50-year-old cleaner in Canada named Jocelyn has been cheated out of her entire life savings after being convinced to send her crypto funds to fraudulent parties.How a Canadian Cleaner Fell Victim to a Crypto ScamJocelyn worked for Sean Moore, a semi-retired lobbyist who spoke on her behalf. Discussing the crypto scam, he stated:It’s a tragedy in this particular case, a scandal in the broader one.Jocelyn had roughly $10,000 in crypto assets that she had...