The U.S. Securities and Exchange Commission (SEC) has charged the masterminds behind Novatech with running a fraudulent $650 million crypto scheme. Novatech allegedly operated as a multi-level marketing and crypto asset investment program, where most investor funds were misappropriated to pay existing investors and promoters. SEC Charges Novatech Ltd. in $650 Million Crypto Fraud Case…
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Believe it or not, the DealShaker marketplace is still working. The commerce arm of the OneCoin empire, DealShaker provided a clear and verifiable use case for OneCoin as a currency. The token was real because you could use it to buy things in a specific e-commerce store. Oh, those were the days. The greatest thing…
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A Senegalese woman is empowering her community with Bitcoin, blockchain and a Bitcoin bakery idea that became a crypto fishery. Mama Bitcoin is the pseudonym claimed by a young Senegalese Bitcoiner called Bineta. Her business, Bleu comme la mer, was the first retailer in Senegal (and possibly West Africa) to accept crypto as payment. She’s…
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This past weekend at the Market America Worldwide Shop.com 2021 International Convention (MAIC2021), the president of the e-commerce firm, Steve Ashley, announced Shop.com sites from around the world will be accepting cryptocurrencies via Bitpay. This means that bitcoin, ethereum, bitcoin cash, and several other digital assets can be used to purchase products via Shop.com’s websites.…
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The Financial Sector Conduct Authority is demanding tighter regulatory control over cryptocurrency. South African regulators are seeking to exercise more control over cryptocurrency trading following the collapse of what was alleged to be the largest Ponzi scheme the country has ever seen. Self-proclaimed Bitcoin (BTC) trading firm Mirror Trading International was placed in provisional liquidation…
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Mark S. Scott, who pocketed upwards of $50 million in fees for laundering OneCoin money, disbarred In a move on Friday that may help bring some peace to jilted investors, a five-judge panel from New York formally disbarred Mark S. Scott, the former Locke Lord LLP lawyer and attorney for the notorious scammer Ruja “Cryptoqueen”…
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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 Texas State Securities Board has successfully shut down the operations of an illegal cryptocurrency investment scheme. The Texas State Securities Board has shut down the activities of a South African multi-level marketing scheme involving cryptocurrency investments in the state. In a recent statement, Securities Commissioner Travis J. Iles said that the company has duped…
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