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Bank of Ireland Execs Back Out of Testifying in OneCoin Scam Hearings

News Bank of Ireland (BOI) executives have backed out of the testimony before the United States Government in the criminal proceedings regarding a $400 million worth money laundering scheme through cryptocurrency scam OneCoin. No testimony on voluntary basisAs fintech-focused news outlet FinanceFe..

US Charges Singaporean Miner Who Stole $5M Worth of Cloud Computing Power

News The United States prosecutors have officially indicted a man from Singapore for using stolen identities to illegally utilize Amazon Web Services’ cloud computing power for crypto mining. According to the indictment initially filed on Oct. 1, Ho Jun Jia was charged with eight counts of wire fr..

Research: $160 Malware Botnet Tries to Steal Crypto From 72,000 Devices

News Around 72,000 devices in 2019 alone were infected during a suspiciously cheap yet successful malware campaign to steal cryptocurrency, new data warns. MasterMana continues to spreadAccording to the research report published by cyberintelligence company Prevailion on Oct. 2, the MasterMana bo..

Attorneys Seek Bank of Ireland Execs’ Testimony Against OneCoin Scammer

News Executives at the Bank of Ireland (BOI) could join a trial in the case against Mark Scott, who allegedly helped launder nearly $400 million via cryptocurrency scam scheme OneCoin. Four BOI witnesses to testify remotelyOn Sept. 29, the government of the United States submitted a court motion s..

South Korean Court: Exchange Must Cover User’s Stolen Cryptocurrency

News A South Korean court ruled on Sept. 25 that the CoinOne cryptocurrency exchange must reimburse 25 million won ($20,800) to an investor after he was hacked. The attacker used the investor’s personal login and password to steal 45 million won, while a daily withdrawal limit of 20 million won wa..

Users of Nigeria-Based Crypto Wallet Lose $1M in Alleged Exit Scam

News Nigerian crypto wallet Satowallet has allegedly pulled off a $1 million exit scam, while the firm cites an unexplained OVH data server error that has kept user funds in limbo. Multiple versions to delay withdrawalsAfter users first reported withdrawal issues in April 2019, Satowallet has been..

Fake Bitcoin Investment Platform From ‘Elon Musk’ Promises 4,000% ROI

News Scammers are using fake mainstream news articles to advertise a nonexistent and potentially dangerous Bitcoin investment platform. “Bitcoin Profit” features fake celebrity interviewsAccording to the dedicated website used to lure would-be clients, the so-called “Bitcoin Profit” uses celebrit..

FCA Warns Public About Clone Firm Offering Crypto Investment

News The British Financial Conduct Authority (FCA) has warned the public about First BTC FX, a supposed clone firm offering fraudulent crypto investments. Using details of an FCA-authorized firmAccording to an FCA warning published on Sept. 20, First BTC FX is posing as authorized firm First Globa..

$800 Bitcoin Buys $10,000 Cash on Dark Web, Turn-Key Money Laundering

News Security researchers have identified a new trend of lucrative and illicit Bitcoin (BTC) to cash conversions in their analysis of dozens of dark web marketplaces and forums. Financial scammers are selling cold, hard cash for only 10 to 12 cents on the dollar to buyers willing to provide a prep..

Coinbase UK Settles Lawsuit With Victim of Email Phishing Attack

News The United Kingdom arm of cryptocurrency exchange Coinbase settled a two-month legal battle with a man who lost 80 Bitcoins (BTC) in an email phishing attack. Stolen Bitcoin diverted to CoinbaseOn Sept. 10, legal news site Law360 reported that Coinbase U.K. had reached an undisclosed settleme..

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