The Advertising Standards Authority and the Internet Advertising Office joined forces to launch a system to remove scam ads. The United Kingdom Advertising Standards Authority (ASA) and the Internet Advertising Office (IAB) launched a new system on June 16 to detect and remove online fraud ads. According to the Telegraph, the system will allow people…
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Five individuals have been identified by Indian police as likely involved with a crypto investment scam that has operated since 2017. Indian police have registered a case against five individuals suspected of involvement in a cryptocurrency scam that has defrauded investors since 2017. Despite operating for several years, the scammers are only believed to have…
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One of Centra Tech’s founders is entering into plea negotiations concerning the company’s fraudulent 2017 initial coin offering. Robert Farkas is negotiating a plea bargain for his role in the fraudulent Centra Tech initial coin offering (ICO) that commissioned celebrity endorsements from Floyd Mayweather Jr and DJ Khaled. U.S. District Judge Lorna Schofield has granted…
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The Gibraltar Financial Services Commission has warned the public about four crypto sites that are not regulated by the country. On June 5 the Gibraltar Financial Services Commission, or GFSC, published four public warnings against cryptocurrency websites that claim to have an alleged license to operate in the territory. According to the authorities, www.askcurrency.org, www.findcurrency.org,…
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A Californian homeowner is suing a prospective buyer for attempting to pay for 30% of the property using a “worthless” cryptocurrency. After attempting to sell her home, California-based psychologist Mary Shea is suing buyer, Mike Cherwenka, for attempting to pay for 30% of the property’s value in the form of a “worthless” crypto asset called…
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A social media account for the People’s Bank of China is warning citizens against illegal fundraising schemes that involve virtual currencies and blockchain. The Shanghai branch of the People’s Bank of China (PBoC) published an article detailing the signs of a financial scam, mentioning virtual currency and blockchain as signs of a fraudulent offering. The…
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Belgium’s economic inspectorate reported $3.2 million in losses due to cryptocurrency fraud in 2019. Global losses from cryptocurrency fraud and theft surged massively in 2019, doubling from 2018. Despite multiple efforts to tackle fraudulent crypto schemes, countries like Belgium continued to suffer losses to crypto fraudsters. According to a May 8 report by Belgian newspaper…
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Fernando Carrillo is looking for opportunities in the crypto sphere after a long-time career acting in TV and film. Long-time Venezuelan actor and singer, Fernando Carrillo, has announced his retirement from acting. He has decided instead to venture into the crypto business. Starting May 1, Carrillo will become the CEO of Fight to Fame, though…
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A cryptocurrency investment management company allegedly lured investors into a fraudulent fund, using the capital for personal gain, according to new complaint. Internet tech support and consulting player KDH Consulting Group recently filed an official complaint against crypto investment management firm Iterative Capital Management for alleged fraud and misdirection. Accusations include “fraud and breach of fiduciary…
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An ICO digital ads startup is going through hard times as its two co-founders confess to having created a clone of their own company that sold the same products. The co-founders of Bidooh, a British digital advertising firm, admitted to stealing intellectual property from their own company with the intention of selling it to third-parties.…
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