Investors in China launched a crypto scam after being deceived themselves — and got busted by the police.
Cryptocurrencies promise a lot of security and privacy for the users, but reality is that cryptocurrency use often creates victims of different types of scams, such as digital theft, hacking, phishing and the major cryptocurrency scam – fraud. These frauds can exist in different forms – promising, but fraudulent, ICO’s that don’t inform their investors about the risks and might not have a physical address; cryptocurrency investment platforms that vanish after gathering enough money; and fraudulent cryptocurrency exchanges that utilize multiple tactics to cheat their users. Blockchain technologies are relatively new and the hype that surrounds them poached a lot of low-skilled investors into the field. This has become such a problem that, according to the latest news on cryptocurrency fraud, Twitter has even banned ICO-ads in order to protect its users from fraudulent schemes.
Longfin, a blockchain-related firm that conducted a $27 million IPO in 2017, has been ordered to repay $223 million to investors.3261
The ASIC has received numerous reports on fake crypto trading robots and other schemes used to scam Australians.4463
PlusToken, one of the greatest exit scams in history, defrauded investors of nearly $6 billion, according to latest reports.4702
Kaspersky Labs and other malware labs have identified a sharp rise in crypto-related scams in Russia during the first half of 2020.3734
The purported investment fund is exhibiting some shady behavior.7227
New York’s State attorney general has wide latitude to investigate a foreign entity like iFinex, said a NY appeals court.13369
Investors tell us that something has gone wrong within a once-hot crypto company.7240
Man sentenced to two years and six months in prison after multi-million dollar crypto fraud.4233
Russian media reported that Marsalek is hiding in Russia with funds that he was able to transfer there with Bitcoin.8800
Scammers promise high yields for people who allocate their money in a fake CBDC-related investment scheme.3696
Russian intelligence might have a lot to do with helping former Wirecard COO Jan Marsalek disappear into thin air.7063
Cointelegraph cracks down on impersonators claiming to be staff as part of an ongoing investigation with Coinfirm.7038
When it comes to counterfeiting booze, wine is an easy target. Fortunately, blockchain makes a particularly good pairing with the wine market.4138
The well-known British journalist clarified in a tweet prior to the announcement of his new book that the announcement was not related to Bitcoin.4105