Is blockchain the solution in making payments more transparent and secure? With online payments company Wirecard undergoing insolvency proceedings this month, mainstream financial services like VISA, PayPal, and Mastercard are rushing to fill the digital payments void, and be one of the first to offer crypto payment cards, stated experts in the crypto industry. During…
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Not even the Colombian president is exempt from being impersonated by Bitcoin scammers. The Colombian police have issued a warning about fraudsters promoting a Bitcoin scam website to social media users. The “announcement” about the launch of a fake Bitcoin-related investment system was purportedly “approved” by Ivan Duque, President of Colombia. According to Colombia Check,…
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Choi and Park lost their last chance not to serve a jail time. The South Korea-based CEO and executive director of a bogus crypto exchange have been jailed by a branch of the Supreme Court in Seoul for their roles in fraudulent trading activity on their platform. As reported by local media outlet Blockinpress, both…
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“Avoid Bitcoin like a plague.” Micheal O’Leary — the CEO of major budget airline Ryanair — has come out very bearish on Bitcoin (BTC). Recently speaking to The Times, O’Leary likened Bitcoin to a Ponzi scheme and advised investors to avoid it: “I have never, and would never, invest one cent in Bitcoin, which I…
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Impersonation scams continue to permeate the cryptocurrency space. Cryptocurrency exchange KuCoin has issued a warning to users regarding a fraudulent website using its branding in an attempt to steal cryptocurrency. According to the report, posted Aug 19, the website is offering false incentives to entice users to deposit digital assets. It further clarifies that the…
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Proceeds were spent on luxury cars, jewelry and real estate, rather than cryptocurrency mining and trading, surprise-surprise. The operators of a global cryptocurrency-based Ponzi scheme have been charged with fraud and money laundering following a United States Homeland Security Investigations probe. According to an announcement from the U.S. Department of Justice, four of the five alleged…
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The NCSC has gone scorched earth on crypto scams. Over the past four months, the National Cyber Security Centre, or NCSC, removed over 300,000 URLs pertaining to fake celebrity-endorsed investment opportunities. More than a half of these sites belonged to fraudulent cryptocurrency investment schemes. Per an announcement published by the NCSC on August 14, an…
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How does such a seemingly omnipotent company fail to do something so basic? Users of the Uniswap decentralized exchange could be at risk thanks to a new Google ad. “URGENT WARNING FOR ANYONE USING UNISWAP,” crypto influencer and YouTuber, BitBoy, said in an Aug. 11 tweet. Tagging Google’s Twitter accounts, he added: “Google you should…
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California authorities recently came out with a fresh cautionary statement on crypto crime. Xavier Becerra, California’s attorney general, recently told the public to watch out for possible crooked dealings surrounding crypto and digital assets. While broadly referencing other hacks, an Aug. 7 statement from the California Department of Justice said: “Recently, unscrupulous actors have impersonated…
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Investors in China launched a crypto scam after being deceived themselves — and got busted by the police. Chinese police have reportedly arrested a group of scammers who launched a faux crypto scheme to recoup their losses after being defrauded by a number of different crypto-related cons themselves. According to an article from the Public…
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