Friday , March 29 2024
Home / Tag Archives: crypto scams (page 24)

Tag Archives: crypto scams

SEC Charges DeFi Lender and its Executives for Raising $30 Million Trough Unregistered Sales

The Securities and Exchange Commission has targeted the Cayman Island-based Blockchain Credit Partners (BCP), along with Gregory Keough and Derek Acree, for selling unregistered securities from February 2020 to February 2021. $30 Million Trough Token Sales According to a recent press release, the executives allegedly used smart contracts to sell two types of tokens that the SEC considered securities. More precisely, those were mTokens, which could be bought with “specific...

Read More »

China Is a Large Player in Cryptocurrency-Related Crimes: Chainalysis Report

The blockchain data provider Chainalysis revealed that Chinese cryptocurrency accounts had sent over $2.2 billion worth of digital assets to addresses tied to criminal activities such as frauds and darknet transactions in a period of around two years. However, large-scale Ponzi schemes are less popular in China than in other countries. Cryptocurrencies Fueled Illegal Operations in China According to a research conducted by the blockchain data platform Chainalysis, Chinese...

Read More »

NatWest Executive Warns: The UK Is a Paradise For Crypto Scammers

David Lindberg – Chief Executive of retail banking at NatWest – warned investors to beware of dealing with digital assets in Britain. In his opinion, the market there is full of fraudsters who create fake cryptocurrency exchanges to lure users into thinking they are investing. ‘Fraud And Scams Are an Industry’ One of the top executives at the leading British bank NatWest – David Lindberg – alerted that the UK is not the best place for crypto investing. To him, the Kingdom is...

Read More »

Vegas Mother-Son Duo Alleged of a $12 Million Crypto Ponzi Scheme

The Securities and Exchange Commission obtained a temporary restraining order on a mother-son duo that embezzled more than $12 million from at least 277 investors. Throughout the years, the 86-year-old woman and her 54-year-old son promised to generate income for their clients via investing in securities and cryptocurrencies but instead swindled the funds for themselves. The Deceptive ‘Supercomputer’ The Securities and Exchange Commission (SEC) announced that it had stopped...

Read More »

Record: UK Police Seized Nearly $250M Worth of Cryptocurrencies

The British police confiscated £180 million or about $250 million worth of digital assets as part of a thorough investigation for money laundering. The operation was marked as the largest seizure ever executed in the United Kingdom. Breaking The Record According to a recent Reuters report, the Met’s Economic Crime Command made one of the largest global crypto seizures – nearly $250 million worth of various digital assets. The operation, which was part of an ongoing...

Read More »

15 Years Behind Bars for a Swedish Man Who Stole Over $16 Million in Bitcoin

The Swedish resident – Roger Nils-Jonas Karlsson – pleaded guilty to luring at least 3,575 people into a fraudulent Bitcoin investment scheme. According to the investigation, he embezzled more than $16 million from his illegal actions and will spend the next 15 years in federal prison. The Pension Plans Turned out to Be a BTC Scam The Department of Justice (DOJ) revealed that the 47-year-old Roger Nils-Jonas Karlsson skimmed thousands of people in a typical “Ponzi scheme”...

Read More »

$350K Stolen From 93K Victims of Fake Crypto Mining Android Apps (Report)

The cybersecurity firm Lookout detected numerous crypto mining scams employing hundreds of fake Android applications. The fraudulent scheme affected at least 93,000 people and stole more than $350,000 from them. Stealing Money Instead of Mining Crypto According to a recent report, the security company Lookout discovered 172 bogus Android applications meant to be used for digital assets mining. Instead, the apps turned out to scam at least 93,000 victims and embezzled some...

Read More »

Maltese Man Accused of Stealing $700K Worth of Crypto

A Maltese man is currently facing several charges alleging that he had fraudulently taken about $700,000 worth of crypto from his drinking companion. According to a Tuesday report by a local media outlet, several police officers testified against the suspect during the hearing of the case which took place before magistrate Donatella Frendo Dimech. He faces the following charges: money laundering, misappropriation, theft of cryptocurrency, violently resisting arrest, being in...

Read More »

Brazilian Police Arrested the ‘Bitcoin King’ for a 7,000 BTC Scam

The Brazilian authorities have arrested the president of the Bitcoin Banco Group – Claudio Oliveira. According to them, he was responsible for swiping 7,000 bitcoins from customers worth $250 million today. ‘The Bitcoin King’ Got Busted In a recent online press release, the Brazilian officials reported the arrest of Claudio Oliveira. He was the man in charge of the Bitcoin Banco Group – a company promising high returns for clients who invest their bitcoins with it. Following...

Read More »

Former Employee of Cryptopia Pleaded Guilty of Stealing $170K Worth of Crypto

An ex-Cryptopia staffer admitted he stole nearly NZ$250,000 or about $170,000. He pleaded guilty on two charges – theft by a person in a special relationship and theft of more than NZ$1,000. How Did The Crime Occur? A former employee of the non-functional New Zealand cryptocurrency exchange, Cryptopia, confessed to stealing about $170,000 worth of digital assets. According to the hearing at the Christchurch District Court on Monday before Judge Gerard Lynch, the man made an...

Read More »