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…
Read more
Russian media reported that Marsalek is hiding in Russia with funds that he was able to transfer there with Bitcoin. Wirecard chief operating officer Jan Marsalek reportedly used Bitcoin (BTC) to move funds from Dubai to Russia. Russian media outlet Kommersant reported on July 20 that Marsalek is hiding in Russia with funds that he…
Read more
The recent Twitter hack shows us that centralized infrastructure is still vulnerable, but DIDs, SSI and blockchains can change the paradigm. Murphy’s law states: “Anything that can go wrong will go wrong.” It always happens with centralized services. A year ago, we saw how half a million Facebook accounts were leaked online, exposing personal data.…
Read more
PlusToken is not behind the recent Bitcoin price crash, but as scam activity peaks amid the pandemic they may still affect the market. Bolstered by the new coronavirus pandemic, scams continue to be rampant in the cryptocurrency world. From malware to fake investment programs and even fake donations to health organizations, scammers are known for…
Read more
The victims of an alleged $35 million crypto Ponzi are suing Wells Fargo for failing to enforce reporting requirements on an employee accused of co-masterminding the scam. Q3 Investment Recovery Vehicle (Q3IRV), an entity representing the more than 100 victims of the alleged $35 million Q3 Ponzi scheme, has filed a class-action lawsuit against Wells…
Read more
An SEC lawsuit against the alleged operators of a fraudulent ICO has been halted amid parallel investigation concerns. Prosecutors have paused a United States Securities and Exchange Commission (SEC) lawsuit against the alleged operators of a $30 million fraudulent ICO amid concerns that proceedings may impact the integrity of a parallel investigation into the defendants.…
Read more
Two Canadian nationals will spend 24 months in a U.S. federal prison for stealing 23.2 Bitcoins in a scam executed on Twitter. Two Canadian nationals have been sentenced to two years in a United States federal prison for stealing 23.2 Bitcoin (BTC) through a scam on Twitter in 2017. According to the U.S. Department of…
Read more
A whistleblower has revealed a $70 million Bitcoin scam targeting British and Australian investors through fake news stories on Facebook. A whistleblower has revealed the existence of a 200-employee Ukrainian Bitcoin (BTC) trading scam that netted $70 million in 2019. The whistleblower outed the scam by providing footage and internal company documents to Swedish newspaper…
Read more
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…
Read more
U.S. authorities have charged a New York man with wire fraud for scamming users in a digital currency scheme dubbed Igobit. The Office of United States Immigration and Customs Enforcement’s Homeland Security Investigations and prosecutors for the Southern District of New York have indicted a man for allegedly participating in a cryptocurrency scheme dubbed Igobit.…
Read more
