How is the FATF’s AML guidance being implemented around the world, and what is its impact on the crypto industry? It’s been nearly eight months since the Financial Action Task Force issued its divisive crypto directives, establishing traditional banking regulations within the crypto sector. With the year-long adoption deadline fast approaching, how have the world’s…
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An international task force of French, Belgian and Israeli investigators brought down a fraud scheme responsible for stealing €6 million from French and Belgian citizens. French, Belgian and Israeli investigators have brought down a scheme that defrauded €6 million ($6.64 million) from French and Belgian citizens, a Jan 29. press release from Europol reads. The…
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Research by U.S. think tank Atlantic Council suggests that OneCoin leveraged fake reviews on TrustPilot and Quora to lure investors. Research conducted by the Digital Forensic Research Lab (DFRLab) of the Atlantic Council think tank suggests that the infamous cryptocurrency-themed Ponzi scheme OneCoin used fake reviews on TrustPilot and Quora to lure investors. According to…
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A New York judge has ordered that the four class-action lawsuits against Bitfinex for 2017 manipulation of the Bitcoin market are now one, though leadership remains uncertain. The four class-action suits against Bitfinex, Tether and parent company iFinex over alleged market manipulation leading to Bitcoin’s (BTC) 2017 bull market have been consolidated — with implications…
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One disgruntled employee and his accomplice stole hundreds of thousands of dollars from a Japanese project’s Bitcoin wallets because of disagreements with management. Two men have been arrested in Tokyo on suspicion of defrauding IT firm Vipstar Inc. from hundreds of thousands of dollars in Bitcoin (BTC), Mainichi reported on Jan. 23. One of the…
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As the FCA looks to shake things up under their new AML regime, how will the U.K. and the global cryptocurrency industry react? The Financial Conduct Authority (FCA) is now the United Kingdom’s sole Anti-Money Laundering (AML) authority for the crypto business. After a decade of compliance under a laissez-faire approach to AML legislation, U.K.-based…
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The lawyers for Alexander Vinnik, the alleged operator of defunct crypto exchange BTC-e, have filed a complaint alleging violation of Vinnik’s rights. The lawyers for Alexander Vinnik, the alleged operator of defunct crypto exchange BTC-e, have filed a complaint alleging violation of Vinnik’s rights. Written on behalf of Vinnik’s young children, the complaint has been…
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Over 5,000 victims of the alleged crypto pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam. Over 5,000 victims of the alleged cryptocurrency pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam. Arthur Asiimwe, the leader of the petitioning group who…
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Bitcoin scam ads featuring Martin Lewis appear on Instagram less than a year after Lewis settled a defamation suit with Facebook. Suspected crypto con artists are once again using the likeness of British financial expert Martin Lewis to defraud unsuspecting victims. In 2019, Lewis settled a defamation suit against Facebook for similar Bitcoin (BTC) scam adverts.…
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Legal counsel for one of several active class-action lawsuits against iFinex for allegedly manipulating BTC’s price has filed to lead the entire class and proceedings. One legal team looks to lead the three ongoing suits against IFinex alleging that illegal conduct involving iFinex’s subsidiaries Tether and Bitfinex was behind Bitcoin’s (BTC) 2017 bull run. Per…
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