Tag Archives: crypto scams

After perpetuating one of the largest fraudulent projects in the crypto industry, the core team behind the popular PlusToken crypto scam has finally been arrested by the Chinese police, a Thursday report revealed.27 PlusToken Key Members ArrestedAlthough earlier reports suggest that some of the PlusToken officials were caught months ago, today’s report notes that the 27 individuals arrested were the core members of the fraudulent scheme, bringing the saga to an end.Chinese law enforcement has...

Bitcoin scams by impersonations are emerging globally, and the latest example coming from the Philippines has pushed the nation’s Finance Secretary to sought the help of the US Department of Justice (DOJ). He claimed his name was used to promote a series of ongoing cryptocurrency scams.The Philippines’ Finance Secretary Involved In a BTC ScamAccording to a recent report, Finance Secretary Carlos G. Dominguez III has become a victim of impersonation in an ongoing cryptocurrency scam. He sent a...

The increased number of fake Bitcoin giveaways on YouTube involving various celebrities has pushed Apple Inc co-founder Steve Wozniak to file a lawsuit against the platform and the parent company – Google.Wozniak Sues YouTube Because Of Fake BTC GiveawaysFake Bitcoin giveaways are a growing threat in the cryptocurrency industry. Scammers begin live streams on YouTube impersonating famous individuals or companies and offer to double all BTC funds victims send to their addresses. Needless to...

With a bit of delay following the Twitter hack, Bitcoin finally sees a slight movement downwards to $9,100. Interestingly, this time the three major US stock market indexes decrease in value with a similar percentage.The situation appears much more favorable in the low-cap altcoin market, as massive gainers include Aurora, Ampleforth, and Algorand.Bitcoin With A Quick DipFollowing the most discussed topic of the infamous Twitter hack from a few days ago, BTC’s involvement remained unnoticed,...

Yesterday’s fake Bitcoin giveaway scam on Twitter unleashed a series of events and comments from prominent figures. While some spoke against the popular social media platform, others against BTC, a US Congressman stood behind the primary cryptocurrency and blamed it on “centralized control.”US Congressman: Bitcoin Isn’t The ProblemAs yesterday’s Twitter hack, which unfolded like a typical fake Bitcoin giveaway scam, continues to raise attention throughout the world, US congressman Tom Emmer...

According to a recent report, two promoters of the massive cryptocurrency scam OneCoin have been found killed in Mexico. One of them joined the infamous Ponzi scheme in 2017 and was particularly active in distributing misleading information and deceiving victims in the LATAM region.OneCoin Promoters KilledThe report indicates that Mexican authorities found Oscar Brito Ibarra and Ignacio Ibarra (no relation), in Mazatlan, Sinaloa. Their bodies were stuffed into suitcases and dumped in a vacant...

The Commodity Futures Trading Commission (CFTC) has submitted a document to the New York Southern District Court to secure a default judgment against Benjamin Reynolds, the director of alleged fraudulent cryptocurrency scheme Control-Finance.According to reports from Finance Feeds, Reynolds failed to plead or defend the CFTC’s action, thus forcing the regulator to obtain a Certificate of Default against the defendant.The commission initially filed a lawsuit against Control-Finance and its...

The US Federal Bureau of Investigations (FBI) said that the $15.3 million that a Nigerian scammer stole from two Chicago-based firms might not be recovered because the funds were converted to Bitcoin.Alleged Nigerian Scammer Arrested, But He Apparently Doesn’t Reveal Bitcoin KeysNigerian media reported that Olalekan Jacob Ponle, nicknamed Woodberry, organized large-scale business email compromise (BEC) schemes. He targeted employees of two Chicago-based firms and manipulated them to conduct...

A 52-year-old Singaporean man has been found guilty of promoting the infamous OneCoin cryptocurrency Ponzi scheme more than three years ago.Man to Pay $72,000 As FineAccording to reports by local media The Straits Times, Fok Fook Seng, a middle-age Singaporean citizen, was convicted for engaging in marketing activities that link to OneCoin between January 2016 and June 2017.Fook Seng was charged in April 2019 for breaching the Multi-Level Marketing and Pyramid Selling (Prohibition) Act....

An SEC suit against allegedly fraudulent ICO was recently put on pause by US federal judge. Prosecutors have interfered because a parallel criminal investigation against the alleged scammers was also on the go.The Court Put On Hold A $30 Million Crypto Investment ScamA New Jersey Federal Judge has ordered the pause of SEC’s proceedings against Edith Pardo and Boaz Manor. Recently they were alleged by the Security and Exchange Commission to have raised “over $30 million” through the crypto...