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.

News
Crypto scams appear to be dominating investment fraud cases in Austria.
Austrian regulators call for stricter crypto regulations amid rising fraud
Osato Avan-Nomayo
2021-02-19T11:40:59+00:00
19662
News
A crypto escrow agent has avoided prison time despite lying about losing $3.25 million, with the judge noting the agent had been the victim of fraud himself.
Crypto escrow agent dodges jail after lying about stolen millions
Brian Quarmby
2021-02-05T05:19:35+00:00
8412
News
The Australian man admitted to cheating investors out of $90 million taken from two crypto funds in the U.S.
Australian pleads guilty to $90-million crypto fund scam in the U.S.
Martin Young
2021-02-05T02:49:27+00:00
9094
News
The SEC has charged three individuals for defrauding investors out of millions through the Steven Seagal-backed Bitcoiin2Gen ICO.
SEC charges promoters of Steven Seagal-spruiked ICO from 2018
Samuel Haig
2021-02-02T03:58:30+00:00
7526
News
Arrested by the FBI earlier today, 24-year-old Spence also faces civil charges of fraud that look to bar him from future trading.
Update: "Coin Signals" trader also faces charges from the CFTC
Kollen Post
2021-01-26T20:14:47+00:00
7657
Use Case
As the crypto markets mature and institutional money flows into the space, technology to detect fraud and money laundering involving digital assets is more impo...
How compliance software detects fraud and money laundering involving crypto
Connor Sephton
2021-01-18T13:19:00+00:00
14249
News
The operator of a Bulgarian crypto exchange has received a 10-year prison sentence for money laundering in connection with an Eastern European cybercrime syndic...
Crypto exchange owner gets 10 years in prison for aiding scammers
Osato Avan-Nomayo
2021-01-13T12:59:31+00:00
6351
News
The Association of Russian Banks is worried about regulators being unable to track illicit transactions of an offline-enabled digital ruble.
Digital ruble could be still vulnerable to fraud, Russian banks warn
Helen Partz
2021-01-13T12:01:16+00:00
3953

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