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Report: Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019

News In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to CipherTrace’s report for the third quarter of 2019. In its “Cryptocurrency Anti-Money Laundering Report, 2019 Q3,” security research firm CipherTrace delved into the 120 mos..

89% of Chinese Blockchain Firms Have Tried to Issue Crypto: Report

News 89% of China’s blockchain firms have allegedly tried to create their own cryptocurrency, according to a senior exec at a local blockchain association. According to the state-run CCTV on Nov. 21, Yedong Zhu, the president of the Beijing Blockchain Technology Application Association (BBAA), re..

New York Judge Grants US Government Right to Intervene in $7M Bitcoin Fraud Case

News The New York Southern District Court has ruled in favor of the United States government to intervene in a civil case against Jon Barry Thompson, who is alleged of a $7 million Bitcoin (BTC)-related fraud. With Judge Loretta A. Preska’s ruling on Nov. 19, the U.S. government — in this case, re..

Dutch Soccer Assn. Trials Blockchain App at EU Championship Qualifying Match

News The Royal Dutch Football Association (KNVB) trialed a new blockchain-based ticketing app during yesterday’s Netherlands-Estonia European Championship qualifying match. The news was reported by Ajax Life, a fanzine associated with the top tier Dutch football club AFC Ajax, on Nov. 19. Replacin..

U.S. Gov’t Extradites Alleged Fraudster for Selling Fake Securities for $11 M in BTC

News The United States has extradited a Swedish national from Thailand for allegedly selling fraudulent securities to investors online, garnering over $11 million worth of Bitcoin (BTC). Per a press release from the U.S. Department of Justice (DoJ) published on Nov. 18, Roger Nils-Jonas Karlsson i..

Two US Men Arrested For Stealing Social Media Accounts and Crypto via SIM Swapping

News The United States Department of Justice has arrested and charged two Massachusetts men for allegedly taking over victims’ social media accounts and stealing cryptocurrency. According to the announcement on Nov. 14, the two — Eric Meiggs and Declan Harrington — were charged with one count of c..

OneCoin Co-Founder Pleads Guilty, Faces up to 90 Years in Jail

News Konstantin Ignatov, co-founder of alleged crypto scam OneCoin, has pleaded guilty to participation in the multi-billion dollar fraud. According to a BBC report on Nov. 14, Ignatov signed a plea on Oct. 4 and now faces up to 90 years in prison. The news was made public on Nov. 12, the BBC says..

Netherlands: Police Arrest Founder of Blockchain Startup That Raised Over $80M

News Dutch police have arrested the founder of blockchain game development startup Komodore64 that allegedly raised 78 million euros ($86 million) from investors, business-focused news outlet Sprout reported on Nov. Komodore64 — which launched in June with the objective to create a game platform ..

PwC Analyst: Blockchain Gives ‘Illusion of Traceability’ for Walmart

News Experts allege the biggest hurdle facing the blockchain systems being adopted by food retail giants such as Walmart and Nestlé has nothing to do with the technology itself. In an interview with Tech Wire Asia, published on Nov. 7, Craig Heraghty — Agribusiness Leader at “Big Four” auditor PwC..

New York Resident Indicted for Crypto Scam, Charged With Wire Fraud

News The Office of United States Immigration and Customs Enforcement’s Homeland Security Investigations and prosecutors for the Southern District of New York have indicted a man for allegedly participating in a cryptocurrency scheme dubbed Igobit. According to an announcement on Nov. 6, Asa Saint ..

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