Black sheep and white papers: In order to achieve what it promises, the crypto revolution must be led by scientists and researchers. It is a pivotal moment in the development of the new digital economy. Interest in all things crypto keeps growing exponentially, and investment follows closely. There has arguably never been so much money…
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Vebitcoin CEO Ilker Bas is reportedly in police custody, with Thodex owner Faruk Fatih Özer suspected to have fled to Albania. Following the arrests of several employees at Turkey-based crypto exchanges Thodex and Vebitcoin last week, government officials are reportedly planning to establish a central bank authority which could custody digital assets. According to a…
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The arrested employees, including directors, are suspected of fraud. As a countrywide cryptocurrency ban looms, multiple Turkish exchanges have now come under investigation with four employees of the recently-shuttered Vebitcoin exchange arrested this morning for allegations of fraud. Last night, Vebitcoin announced it would be ceasing operations in a short statement posted on its website,…
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Apple removed the fake Trezor app several times, but it kept appearing on the App Store days later. A scam cryptocurrency app on Apple’s app distribution service App Store has reportedly stolen $600,000 Bitcoin (BTC) from one iOS user. Cryptocurrency holder Phillipe Christodoulou fell victim to a scam app on the App Store, losing nearly…
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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. Texan regulators have, for some time now, viewed cryptocurrency investment schemes as a risk to Main Street investors, and have continued to issue public warnings against possible crypto-related scams…
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As the crypto markets mature and institutional money flows into the space, technology to detect fraud and money laundering involving digital assets is more important than ever. The crypto industry has boomed over the past 12 months. While 2019 began with a total market cap of $200 billion, the explosion in Bitcoin’s value resulted in…
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Robert Farkas will face the lightest felony sentence possible for his role in Centra Tech’s 2017 ICO. A Manhattan court has sentenced the operator of the fraudulent crypto investment firm Centra Tech to a year and a day in prison. Per a Tuesday announcement from the Department of Justice, Robert Farkas successfully solicited $25 million in…
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Cryptocurrency platforms perform audits to ensure transparency, but it’s not a golden solution to solve all potential trust and security issues. On Dec. 9, the total market capitalization of cryptocurrencies soared past $535 billion. This is a significant increase from last year, when the cumulative market capitalization of cryptocurrencies was just over $199 billion. With…
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AirBit Club’s leadership have been gathered in New York City and will face charges for stealing “membership dues” to finance massive marketing events and lavish personal lifestyles. Per a Monday announcement, the U.S. Department of Justice and the Southern District of New York have extradited a leader of alleged ponzi scheme AirBit Club from Panama. …
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The U.K.’s Financial Conduct Authority advised caution against phony actors. Fraudulent actors currently float around the internet claiming association with crypto trading and wallet company Blockchain.com, as confirmed by the Financial Conduct Authority, or FCA, a United Kingdom-based regulatory entity. The copycats assert association with Blockchain.com under Blockchain Ltd, a clone version of the real…
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