A Singapore man was fined $72,000 for operating a multi-level marketing scheme linked to the Ponzi scheme OneCoin. On Wednesday, a 52-year old man named Fok Fook Seng of Singapore was found guilty of operating a multi-level marketing scam linked to the cryptocurrency Ponzi scheme OneCoin. Since its inception, the OneCoin crypto scam has defrauded…
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Russ Albert Medlin — co-founder of alleged crypto Ponzi scheme BitClub — was arrested in South Jakarta for sexual assault on minors. Russ Albert Medlin — co-founder of alleged crypto Ponzi scheme BitClub — was arrested in South Jakarta under accusation of sexual assault on minors. Local news outlet Jakarta Globe reported on June 16…
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The Bitcoin uptrend could be in peril, QuadrigaCX described as a “Ponzi scheme,” and Coinbase is punished for outages. Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week…
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The Seoul Metropolitan Police seize two unnamed local crypto exchanges in an effort to dismantle an ETH-related crime ring. The Seoul Metropolitan Police Agency launched a criminal investigation on June 12, leading to the search and seizure of two unnamed cryptocurrency exchanges. These efforts were enacted with the hope of dismantling an Ethereum (ETH) crime…
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Experts believe that a more holistic crypto ecosystem, especially one that is more AML-centric, is needed to help prevent the spread of crypto scams in 2020. Per a new report released by digital-asset intelligence firm CipherTrace on June 2, the value of ill-gotten funds siphoned through cryptocurrency crimes over the first five months of the…
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PlusToken main criminal suspect is facing public prosecution. One of the ringleaders of Plus Token is now facing criminal charges in China. Plus Token is one of the largest apparent scams in the cryptocurrency industry’s history. According to local media, Zhou will face public prosecutors in the Court of Jianhu County, Yancheng City, Jiangsu Province.…
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Local police have busted Wotoken, China’s second ten-figure crypto Ponzi. The scam, Wotoken, took in roughly $1 billion worth of crypto at current prices from over 715,000 victims. One of the scam’s core operators is purportedly linked to PlusToken — a multi-billion Ponzi that is believed to have impacted the price trajectory of Bitcoin (BTC)…
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The latest developments in proceeding surrounding the notorious OneCoin fraud have seen the plaintiffs in a $4 billion suit plead for the suit to continue. Legal proceedings surrounding the infamous OneCoin Ponzi scheme have seen a couple of updates, with the lead plaintiff for a $4 billion class-action urging the judge not to scrap the…
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Sentencing for the co-founder of major alleged crypto scam OneCoin has been postponed for a further three months at the request of the U.S. government. Sentencing for the co-founder of the major crypto scam OneCoin has been postponed for a further three months at the request of the United States government. On April 7, the…
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The CFTC has pushed for a default ruling after failing to locate the alleged director of a $147 million crypto Ponzi scheme. The United States Commodity Futures Trading Commission (CFTC) has requested that the alleged founder of the crypto $147 million Ponzi scheme Control-Finance be declared a default. On April 3, the CFTC filed for…
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