Whale Alert alleges that crypto scams are skyrocketing in 2020 compared to statistics from 2017. Blockchain tracking and analytics platform, Whale Alert, revealed that over the past four years, scammers have stolen over $38 million worth of Bitcoin (BTC). New heights could be reached at the end of 2020 Whale Alert’s study, which relies on…
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Cardano founder warns against Youtube scams promoting a fake ADA giveaway. Cardano is warning the public against scams promoting a fake Cardano (ADA) giveaway. In a tweet, Cardano founder Charles Hoskinson said a Youtube account has been using a keynote address he made to promote a fake giveaway. “It has come to my attention that…
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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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Uniswap’s daily volume has rallied to nearly $25 million despite the spotlight on imposter tokens trading on the exchange. Daily trade volume on the decentralized exchange (DEX) and liquidity pool Uniswap has rallied to $25 million on the back of a strong first day of trade for the digital asset protocol Ampleforth’s AMPL. ETH-AMPL currently…
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The Cardano Foundation has warned that a suspicious firm is trying to rake in investments by claiming contact with the foundation. The Cardano Foundation — the organization behind major cryptocurrency Cardano (ADA) — warned that a suspicious firm is trying to rake in investments by claiming it has contacts with the foundation. On July 9,…
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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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Uniswap appears to be plagued with scam tokens claiming affiliation with popular DeFi projects. Scam tokens are a growing problem on the decentralized exchange and liquidity pool Uniswap — owing to the protocol’s open listing policy. In recent days warnings have been issued about scam tokens targeting four of the most buzz-worthy decentralized finance (DeFi)…
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VaultAge Solutions CEO has been tracked down by South African authorities and angered investors. Willie Breedt, a South African national accused of stealing up to $16.3 million from around 2,000 investors via his VaultAge Solutions scheme, has reportedly been forced into bankruptcy by a local court. According to a recent report from News24, the sequestration…
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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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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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