Tag Archives: crypto scams

Residents of Colorado have become major targets for crypto criminals according to a new report issued by the Federal Bureau of Investigation (FBI). The FBI Says Many People in Colorado Have Been Targeted The document says that millions of dollars have been stolen from crypto traders and normal, everyday residents in the Centennial State. Many of the scams in question involve stable assets such as Tether and USD Coin (USDC). In a statement, the FBI mentioned: In a common...

Coffeezilla – the popular YouTuber and “Internet Detective” covering crypto scams – is now accusing the mixed martial arts legend Khabib Nurmagomedov of “scamming” his followers with NFTs.  The former UFC lightweight champion said his new collection will give fans access his his “private club,” while enabling holders to mine Bitcoin.  Khabib’s NFT Collection Nurmagomedov launched his NFT collection in partnership with GoMining, for whom he became an ambassador in October...

The US authorities alleged Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov – the founders of the dubious cryptocurrency investment platform Forsage – to have orchestrated a global pyramid scheme that conned investors with approximately $340 million. All defendants are charged with conspiracy to commit wire fraud and could receive a maximum penalty of 20 years in jail. Another Multi-Million Scam? A federal grand jury in the District of...

According to recent Bulgarian sources, Ruja Ignatova, a.k.a the “Cryptoqueen,” might have been killed in November 2018.  She is the founder of the fraudulent scheme OneCoin and was last spotted in Greece in 2017. More Evidence About her Possible Death Secret police documents seen by Bulgarian media outlets revealed that the notorious Ruja Ignatova might have been brutally murdered over four years ago. The hitman, acting on behalf of the local drug lord Hristoforos Amanatidis...

A recent study by blockchain analytics firm Chainalysis found that 24% of the tokens launched in 2022 had the characteristics of pump-and-dump schemes. Most of the tokens plunged by 90% in the first week of their launch after their creators dumped their holdings. This, according to Chainalysis, is a typical feature of a pump and dump scheme. Over 9,000 New Tokens in 2022 Were Fraudulent  Crypto pump-and-dump schemes involve the creators of a digital asset hyping and promoting...

Last year was less profitable for crypto scammers as their revenue plunged nearly 50% in 2022, according to a new study by blockchain analytics firm Chainalysis. The blockchain company noted that the decrease in revenue could be linked to the decline in the value of cryptocurrencies due to the correlation of most scam types with bitcoin’s price. Crypto Scam Revenue Dropped to $5.9B in 2022 Crypto scam revenue started 2022 on an upward trend but came spiraling down in May at...

A British pensioner living in Nottinghamshire parted with $207,000 after becoming a victim of a bitcoin romance scam. The police managed to restore some of the stolen funds and warned people to be extra vigilant with online dating due to the rise of similar frauds. The Latest BTC Romance Scheme The Nottinghamshire police said a woman in her 70s transferred over $200,000 to a suspicious bitcoin address belonging to an individual she was dating online. The person in question...

On February 17, the Securities and Exchange Commission (SEC) charged NBA Hall of Famer Paul Pierce with illegally promoting the EMAX token on his social media accounts. The EMAX token was offered and sold by EthereumMax. According to the complaint, Pierce has agreed to pay a penalty of $1,115,000, plus approximately $240,000 in disgorgement and prejudgment interest, without admitting or denying guilt, to avoid greater sanctions from regulators. He is also prohibited from...

Gilbert Armenta – the former boyfriend of Ruja Ignatova (more famous as the “Cryptoqueen”) – will reportedly spend five years in jail for participating in the fraudulent cryptocurrency project OneCoin. The Bulgarian-born Ignatova – the Founder of the infamous Ponzi scheme – sits on the FBI’s ten most-wanted list. She was last seen in 2017 in Greece, while some sources hinted she could have been killed. Armenta Gets Five Years, Instead of Seven According to a Bloomberg...

Wybo Wiersma – a 40-year-old Dutchman who studied at Oxford’s St Cross College – will serve a 54-month prison sentence for stealing £2,156,000 (more than $2.6 million) using a cryptocurrency scheme. UK detectives linked the scam to the man who used the pseudonym Norbert van den Berg in his malicious website and university coursework. ‘Greed and Dishonesty’ Behind the Scam Judge Michael Gledhill KC ordered Wiersma to spend four and a half years in prison for his offense. The...