CLS Global is one of the “victims” of the FBI’s trap token NexFundAI, alongside Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.
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Fraud News
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.
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California’s DFPI crypto scam tracker lets users identify scams early and helps safeguard crypto assets from fraudulent activities.
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US prosecutors have accused Carl Erik Rinsch of spending $11 million worth of Netflix’s funds on stocks and crypto instead of finishing a science fiction TV show he was producing.
7648 - News
The North Dakota House had passed a crypto ATM bill with looser user transaction limits, but the state’s Senate has tightened that to $2,000 a day.
4134 - News
Hayden Davies continues launching memecoins plagued with insider trading activity despite being wanted by Interpol for previous crypto scams.
26063 - News
The missing $1.5 billion may still not have been enough for 3AC to cover creditor claims before the $10 billion crypto hedge fund’s collapse in 2022, Nansen analysts told Cointelegraph.
5278 - News
Crypto firms push for stricter rules on politically endorsed tokens after the $4 billion Libra collapse, citing liquidity locks and insider trading restrictions as solutions
4191 - News
The new legislation is designed to protect users of crypto kiosks and ATMs in the state by requiring licensing and introducing transaction and fee limits.
4643 - News
The next hearing in the US government’s case against Terraform Labs co-founder Do Kwon has been delayed until April after prosecutors said they found another four terabytes of evidence.
2339 - News
A US judge tossed the SEC’s case against Hex founder Richard Heart, stating it couldn’t decide whether he defrauded investors of $12.1 million because the US lacked jurisdiction.
25046 - News
FTX creditor repayments being facilitated a little over 2 years after FTX’s shock collapse is a “win” given all the jurisdictional issues that were involved, an industry pundit said.
13450 - News
The founder of Gotbit, whose firm was allegedly caught by FBI’s trap token to catch crypto fraudsters, has been extradited from Portugal to the US to face charges.
7991 - Video
The latest Cointelegraph video unveils how the recent fiasco around LIBRA sheds light on widespread fraud in the memecoin markets.
1317 - News
SafeMoon chief technology offer Thomas Smith is now pleading guilty to allegations that he took part in a $200 million crypto scheme.
3908 - News
The US SEC has announced the formation of a new group to combat crypto fraud and other cyber crimes to protect retail investors.
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