Court filings from Nov. 19 show that a large volume of crypto assets, including Bitcoin and Ether, was seized from seven convicts in the PlusToken case. The PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto assets by Chinese authorities worth…
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The Australian could be 99-years old by the time he is released if he’s sentenced to the maximum penalty. The Australian Securities and Investments Commission, or ASIC, has charged the former Australian national representative of BitConnect for his involvement in the multi-billion-dollar crypto Ponzi scheme. According to a Nov. 17 statement from the ASIC, the…
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If the courtroom drama of OneCoin is not enough, you’ll soon see the whole thing play out on the big screen. Even as the OneCoin Ponzi scheme makes its way through the courts, a movie about it is now in development with a Titanic lead star. As reported by Deadline, Kate Winslet has signed on…
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They even wrote a self-help book about becoming a millionaire. Sounds like that may need to be updated. A recent filing from the United States Securities and Exchange Commission, or SEC, takes action against three individuals for allegedly raising millions of dollars against more than 1,000 victims. “From 2017 to May 2019, Jali, Frimpong, and…
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As cryptos gain ground in India and Bitcoin price spikes, Indian scammers are likely to make the most of the opportunity. India is the hub for call center scams. Call it a lack of strict regulatory measures to stop such activities or the scammers’ resilience to start over every time their business is busted, but…
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Forsage members are courting a high risk with the Philippines’ securities regulator. A full month after the Philippines’ Securities and Exchange Commission flagged Forsage as a likely Ponzi, it remains the second-most popular Ethereum DApp on internet rankings. As of Aug. 6, Forsage has 390,000 users and a turnover of $3.11 million per 24 hours…
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New suit looks to recover nearly three quarters of a million dollars from alleged ponzi scheme that claimed major altcoin gains amid crypto winter. Per a July 15 complaint from two former investors who have been unsuccessful in getting their money back, Utah-based Crypto Traders Management advertised an investment strategy that constituted an unregistered security,…
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One of four men charged with defrauding investors of over $722 million through a long-running cryptomining scheme has pleaded guilty to charges against him. One of four men charged with defrauding investors of more than $722 million through a long-running cryptocurrency mining scheme has pleaded guilty to charges against him. The man, a 35-year-old Romanian…
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Philippine SEC warns against investment schemes including one based on the Ethreum blockchain it says is a Ponzi scheme. The Securities and Exchange Commission (SEC) of the Philippines has warned the public against individuals and groups engaged in unauthorized crypto investments and trading, according to an announcement on July 1. The Philippine SEC warned those…
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Crypto itself has only been around for a decade, and the space has already gained its top Ponzi scheme actors. Here are three of them. In addition to the obvious advantages in the form of anonymity, accessibility, ease of use and low cost of transactions, cryptocurrencies have some serious drawbacks that impede their global adoption.…
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