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Fraudulent Transactions in Crypto, Explained

Fraudulent Transactions in Crypto, Explained Connor Blenkinsop 1 HOUR AGO 460 Total views 1. How does payment fraud happen? 2. Tell me more — what are the most common ways to be tricked? 3. I’m worried — can I track my crypto transactions? 4. How can payment fraud be avoided? 1. How does payment fra..

CFTC File Lawsuit Against $11M Ponzi-Like Cryptocurrency Scam

News The United States Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action against Nevada-based Circle Society. Defendants guaranteed investors 300% returnOn Oct. 16, the CFTC announced that it was charging Circle Society and its owner, David Gilbert Saff..

$240M in Suspected Scheme Assets Moves in Four Bitcoin Transactions

News Over $240 million in proceeds from the alleged crypto scheme PlusToken have reportedly moved through four Bitcoin (BTC) transactions. Whale Alert — a Twitter account dedicated to reporting large cryptocurrency transactions — posted on Aug. 17 that four transactions totaling 22,923 BTC were li..

What Are the Biggest Alleged Crypto Heists and How Much Was Stolen?

Analysis As the appeal of cryptocurrency has grown, so has the opportunity for scammers to part naive investors from their money. 2019 has been no exception, with cryptocurrency and blockchain forensics company Ciphertrace dubbing it “the year of the exit scam.” Exit scams are not a new phenomeno..

Researchers: Bitcoin Price Drop Not Caused by $3B Ponzi BTC Dump

News Bitcoin’s (BTC) recent price drop has not been caused by Bitcoin sell-offs from a $3 billion Chinese Ponzi scheme PlusToken, according to researchers at crypto analytics firm TokenAnalyst. Crypto analytics firm: PlusToken cannot be the cause As Bloomberg reports on Aug. 15, co-founder of Lon..

$3B Ponzi Scheme Is Now Allegedly Dumping Bitcoin by the Hundreds

News Amid a downturn in the cryptocurrency markets, the apparent swathe of Bitcoin sell-offs from a $3 billion Chinese Ponzi scheme could be to blame. On Aug. 14, Dovey Wan — founding partner of blockchain-based investment company Primitive Ventures — called attention to the ongoing mass sell-offs..

Venezuelan Investors File Lawsuit With US Court in Connection With $30M Crypto Fraud

News A group of Venezuelans has filed a lawsuit with a Florida Federal Court in connection with a Ponzi scheme involving $30 million in cryptocurrency promoted by Canadian investment radio host Harold Seigel. Payment and commerce news outlet Pymnts.com reported today, July 16, that seven Venezuela..

Mob Burns Down Purported Crypto Ponzi Schemer’s House in South Africa

News An angry mob in Ladysmith, South Africa has reportedly torched the residence of Sphelele Mbatha, known as Sgumza, a manager of alleged crypto Ponzi scheme Bitcoin Wallet. The mob was likely a collection of victims who lost money through Bitcoin Wallet, according to the report by Ladysmith Gaz..

Indian Authorities Arrest 4 Individuals Accused of Crypto Ponzi Scheme

News The Criminal Investigation Department (CID) of India has arrested Vijay Prajapati, Dhiraj Patel, Kamruddin Syed, and Ashiq Shaikh, the alleged creators of the cryptocurrency KBC Coin, according to a report by The Times of India on July 4. As per the report, the CID argues that KBC is a Ponzi ..

Exit Scam in Wonderland: Bitconnect’s Tentacles From Texas to Gujarat

In depth An American musical preludeBitconnect, the now-defunct crypto lending and exchange platform that has been ousted as a ruinous Ponzi scheme, has memorably been compared by the Silver Miller law firm to the fleeting 2011 Broadway musical “Wonderland,” based on the dizzying impossibilities o..

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