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
Ugandan police have reportedly seized Samson Lwanga, one of the directors of the alleged cryptocurrency pyramid scheme Dunamiscoins Resources Limited.
Ugandan Police Hold Director of Alleged $2.7M Crypto Ponzi Scheme
Ana Alexandre
2019-12-10T13:23:00+00:00
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News
An alleged cryptocurrency pyramid scheme in Uganda has fled after defrauding dozens of victims that invested and worked for the scheme.
Crypto Pyramid Scheme in Uganda Steals Employees’ Money and Closes
Helen Partz
2019-12-06T17:54:00+00:00
7610
Follow up
New research suggests that the Bitcoin price could be still absorbing the effects of the alleged PlusToken exit scam.
PlusToken Effect: Alleged Asian Exit Scam to Blame for Market Decline?
Kirill Bryanov
2019-12-03T16:28:00+00:00
2102
Analysis
An estimated 0.2% of all XRP transactions are used for illicit activity. How true is this figure and how does it impact the industry?
Criminal Activity in Crypto: The Fact, the Fiction and the Context
Will Heasman
2019-11-30T15:42:00+00:00
5577
News
By applying blockchain technology and IoT the food industry could save up to $31 billion in food fraud savings.
Study: Blockchain Can Reduce Food Fraud By $31 Billion Within 5 Years
Joeri Cant
2019-11-30T00:27:00+00:00
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News
A Vancouver-based investor claims that he lost at least $430,000 due to misconduct and breaches of contract by crypto firm Stox.
Disgruntled Investor Sues Stox Prediction Market and Founder
Helen Partz
2019-11-29T18:12:00+00:00
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News
In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to a recent CipherTrace report.
Report: Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019
Ana Alexandre
2019-11-27T17:25:00+00:00
2533
News
A senior exec at a Chinese blockchain association said that the vast majority of China’s DLT firms have tried to issue a token or cryptocurrency.
89% of Chinese Blockchain Firms Have Tried to Issue Crypto: Report
Helen Partz
2019-11-25T15:33:00+00:00
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