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.
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.
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.2427
The former presidential candidate has written to the SEC chairman for answers about plans for crypto consumer protection protocols in the United States.2224
A Thai firm claims that Bithumb’s Hong Kong subsidiaries caused it serious damage by unilaterally halting its business in Thailand.1204
The alleged fraudster’s crypto brokerage filed for bankruptcy in 2019 after claiming to have been the victim of a hack.5411
The SEC has appointed New Jersey Attorney General Gurbir S. Grewal as the Director of the Division of Enforcement.2344
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.3368
Bank TSB is set to become the latest financial institution in the United Kingdom to prevent customers from investing in crypto.10603
The venture funds of both companies joined Bessemer and others in financing another strategic investment round for TRM Labs.3005
Coinseed also created an ERC-20 token whose message is targeted at New York Attorney General Letitia James.7367
I should know, I helped chase down $1 billion of his fraudulently-obtained cash.18268
Black sheep and white papers: In order to achieve what it promises, the crypto revolution must be led by scientists and researchers.15860
Vebitcoin CEO İlker Baş is reportedly in police custody, with Thodex owner Faruk Fatih Özer suspected to have fled to Albania.10992
An ICO fraudster spent more than $7 million in fraudulently obtained COVID relief on luxury personal expenses, including a Rolex, a luxury apartment and a new Mercedes.12154
Less than 1% of overall fraud cases relate to cryptocurrency, but that number could be rising in line with Bitcoin and the crypto market’s ascension.7101