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.

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
2228
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
6158
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
3868
Expert Take
How distributed ledger technologies can help law enforcement agencies to fight crime and money laundering.
Opportunities for blockchain in police investigations
Maxim Rukinov
2020-12-19T08:09:21+00:00
5177
News
Robert Farkas will face the lightest felony sentence possible for his role in Centra Tech's 2017 ICO.
DJ Khaled and Floyd Mayweather promoted his 2017 ICO; Now, he faces a year behind bars
Kollen Post
2020-12-15T19:56:33+00:00
41505
News
More countries are allegedly involved in a major global Bitcoin ad scam.
Investigation traces scam Bitcoin celeb ads to Moscow
Helen Partz
2020-12-15T10:12:04+00:00
4239
Analysis
Cryptocurrency platforms perform audits to ensure transparency, but it’s not a golden solution to solve all potential trust and security issues.
Ensuring trust in crypto is tough, but audits and transparency go a long way
Rachel Wolfson
2020-12-09T13:00:00+00:00
4243
News
Alongside other actions, the CFTC was pleased with its seven enforcement actions in the crypto market.
Beyond BitMEX: CFTC sets a new record for lawsuits in crypto this year
Kollen Post
2020-12-01T18:36:24+00:00
7701

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