The venture funds of both companies joined Bessemer and others in financing another strategic investment round for TRM Labs.
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.
Coinseed also created an ERC-20 token whose message is targeted at New York Attorney General Letitia James.7301
I should know, I helped chase down $1 billion of his fraudulently-obtained cash.18224
Black sheep and white papers: In order to achieve what it promises, the crypto revolution must be led by scientists and researchers.15754
Vebitcoin CEO İlker Baş is reportedly in police custody, with Thodex owner Faruk Fatih Özer suspected to have fled to Albania.10967
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.12073
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.7058
Apple removed the fake Trezor app several times, but it kept appearing on the App Store days later.16770
The SEC has taken action against a Californian man for fraudulently offering insider stock trading tips on a darknet marketplace.10300
The Texas State Securities Board has entered an emergency cease and desist order against a shape-shifting, fraudulent cryptocurrency scheme using the Binance brand to lure investors.5326
Forget fake news, this blockchain protocol is tackling fake views — and clamping down on ad fraud by ensuring video data cannot be manipulated.26120
A co-founder of the fraudulent 2017 ICO Centra Tech has been sentenced to eight years in prison for his role in the scheme.24096
Vietnam’s Ministry of Finance reminded the public that cryptocurrencies have no legal framework in the country.11430
Crypto scams appear to be dominating investment fraud cases in Austria.19978
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.8678