According to Polygon’s co-founder, Sandeep Nailwal, it is only a matter of time before Ethereum overtakes Bitcoin as the dominant layer-one protocol.
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.
Bitcoin.org previously fell victim to a DDoS attack in July, with hackers demanding a Bitcoin ransom.7064
Those who lost money in a 2016 U.S. crypto exchange heist maybe be entitled to additional recoupment.1972
India’s SMS regulation requires businesses to comply with pre-registered messaging templates to counter spam and fraud.4638
A fund manager has been sentenced to more than seven years in prison for operating a Ponzi scheme that cheated investors out of $54 million.4737
Michael Ackerman faces up to 20 years in jail if convicted of fraud following his guilty plea.8647
A Trend Micro report claims that over 120 fake crypto-focused apps are still operational in the Play Store, some exceeding over 100,000 downloads.10224
The CFAAR network hosts practitioners who have experience in handling some of the early crypto-related disputes in the British court system.2720
An arrest warrant for Riccardo Spagni was issued on July 20, 2021, at the request of the South African government. He was apprehended the same day in the United States.31597
The owner of the crypto exchange Bitmart has asked a New York judge to intervene to prevent hackers from selling fraudulent coins on the open market.2808
The former presidential candidate has written to the SEC chairman for answers about plans for crypto consumer protection protocols in the United States.2380
A Thai firm claims that Bithumb’s Hong Kong subsidiaries caused it serious damage by unilaterally halting its business in Thailand.1318
The alleged fraudster’s crypto brokerage filed for bankruptcy in 2019 after claiming to have been the victim of a hack.5543
The SEC has appointed New Jersey Attorney General Gurbir S. Grewal as the Director of the Division of Enforcement.2413
A new report from Elliptic has found that unregistered securities offerings account for more than half of all crypto-related fines handed out by U.S. regulators.3532