Ponzi Scheme News

A Ponzi scheme is an investment scam which involves convincing victims of high return rates and small risks using fabricated reports made with returning the revenue for older investors with the money of the new ones. Companies that engage in Ponzi Schemes are only working on attracting new investments without generating any legitimate product. This scheme is named after Charles Ponzi, a Italian con artist, who performed such a scheme in 1920s in the US, costing his investors about $20 million. However, Ponzi’s scam wasn’t the first of its kind, though it was one of the largest. A Ponzi scheme is similar to a pyramid scheme and is performed to this day in different variations. For example, scammers have employed cryptocurrencies and ICOs to perform Ponzi schemes, Bitcoin is often called a variation of a Ponzi scheme and economic bubbles of different stock assets often take on a form of a Ponzi scheme, blowing the real value out of proportion.
The CFTC is having trouble locating a man allegedly responsible for a cryptocurrency Ponzi scheme worth over $140 million.
CFTC Cannot Locate Man Responsible for Over $140 Million Crypto Ponzi
Adrian Zmudzinski
New Year Special
Has 2019 lived up to the expectations of the crypto community and those working in the industry, and what are the biggest disappointments?
Did 2019 Deliver on All That Was Promised for the Crypto Industry?
Andrew Singer
New Jersey authorities announce the arrest of three founders of alleged $722 million crypto Ponzi scheme BitClub Network.
Three Men Arrested for Running Alleged $722 Million Crypto Ponzi Scheme
Kollen Post
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
A domain registry says the ongoing legal investigation into OneCoin compelled it to freeze its website, years after critics first accused the scam’s operators o...
OneCoin Website Goes Offline as Net Closes in on $4B Ponzi Scheme
William Suberg
Crypto worth billions upon billions of dollars has been lost to fraud. But what are the most common scams, and can they be stopped?
Fraudulent Transactions in Crypto, Explained
Connor Blenkinsop
The United States Commodity Futures Trading Commission has charged a Nevada company with violations relating to an $11 million Ponzi-like crypto scam.
CFTC Files Lawsuit Against $11M Ponzi-Like Cryptocurrency Scam
Joeri Cant
To date, Chinese exchange Huobi has processed the highest number of withdrawals from the alleged crypto Ponzi scheme PlusToken’s recent multibillion-dollar move...
Huobi Processed 50% of All PlusToken Withdrawals This Month: Report
Helen Partz

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