Participants of a $5.6 million token sale did not expect a return on investment, the NAC Foundation argued.
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.
At least 20 crypto executives and customers of an Israeli telecommunications company were targeted in a sophisticated SS7 attack last month.9659
Does an extortion attempt from Russian hackers explain Schiff's hatred for Bitcoin?15786
Losses due to crypto scams are on the rise in Belgium.7516
The Department of Justice made headlines in crypto and elsewhere, leading a week of law enforcement locking down around the world.15895
The CFTC continues its roll of crypto announcements this week in a recent fraud bust-up.5079
A crypto escrow executive has pled guilty to defrauding his client out of $3.25 million.4585
A 36-year-old man from Kerala was arrested under charges of cryptocurrency fraud.42864
The owner of a Bulgarian crypto exchange has been convicted of providing money laundering services to a Eastern European cyber fraud syndicate.4730
Police raids on the Bithumb offices are apparently not just FUD as more investigation reports come in.8326
The U.S. Justice Department has announced sanctions against two Russians, and the arrest of two Malaysians, over separate seven-figure crypto scams.2920
Researchers are warning that the supposed scheme could have swindled billions.4380
Too many make strong claims without evidence.6416
With regulators unlikely to change old-fashioned rules in favor of the emerging market, DeFi might be burdened under fraud and new portions of restrictions.6205
New wire fraud charges against St. Petersburg trolls allege that they stole the identities of U.S. citizens to open crypto accounts.2660