Co-founder of Riot Games Marc Merrill had his identity stolen by a Singaporian national who used Merrill’s personal information to illegally access $5 million worth of computing power. The millionaire game developer, Marc Merril, was a victim of the Singaporean man who stole identities to utilize Amazon Web Services’ and Google cloud computing power for…
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A Dubai-based Canadian expat has been arrested for peddling an allegedly fraudulent “Sharia-compliant” cryptocurrency and a host of other get-rich-quick schemes. A Dubai-based Canadian expat has been arrested for peddling an allegedly fraudulent “Sharia-compliant” cryptocurrency and a host of other get-rich-quick schemes. As Gulf News reported on Oct. 30, Aziz “Com” Mirza had cultivated for…
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Crypto worth billions upon billions of dollars has been lost to fraud. But what are the most common scams, and can they be stopped? How can payment fraud be avoided? Introducing better verification measures can go a long way to protecting consumers. Amazon and eBay are often held up as good examples of how transactions…
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SIM swapping victim Michael Terpin wrote an open letter to FCC Chairman Ajit Pai to take action against this type of fraud. SIM swapping victim Michael Terpin wrote an open letter to the United States Federal Communication Commission (FCC) Chairman Ajit Pai. In his letter, posted by Coindesk on Oct. 21, Terpin requested that the…
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We got the congressional documents that explain why this is happening. Brazilian Congressman Aureo Ribeiro, author of a bill that purports to regulate the Brazilian crypto market, requested the opening of a Parliamentary Inquiry Commission (PCI) to investigate crypto-related fraud in Brazil. Cointelegraph got access to a document that asks for a deep investigatigation into…
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The United States Commodity Futures Trading Commission has charged a Nevada company with violations relating to an $11 million Ponzi-like crypto scam. The United States Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action against Nevada-based Circle Society. Defendants guaranteed investors 300% return On Oct. 16, the CFTC announced that it…
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A victim of the alleged crypto pyramid scheme OneCoin is receiving threats of death and violence after speaking out against the scam project. Glasgow-based Jen McAdam claims supporters of the alleged OneCoin pyramid scheme are sending her death threats, mainly through Facebook. Death threats reported to the police On Oct. 14, the BBC wrote that…
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Bank of Ireland executives have backed out of testifying before the U.S. Government in the criminal proceedings regarding OneCoin multi-million scam. Bank of Ireland (BOI) executives have backed out of the testimony before the United States Government in the criminal proceedings regarding a $400 million worth money laundering scheme through cryptocurrency scam OneCoin. No testimony…
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Fraud is a sad but undeniable part of the crypto world. But how do you fight it, identify it and stay attuned to the latest scams? Although the crypto industry has long been touted as the solution to some of the longest-running issues in the global economy, there’s one problem it has been unable to…
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The number of the U.K. Financial Conduct Authority’s investigations into crypto businesses surges 74%: from 50 cases in 2018 to 87 already in 2019. The Financial Conduct Authority (FCA), the United Kingdom’s primary financial regulator, has seen a 74% rise in crypto-related investigations in 2019 so far. A local law firm reveals the data According…
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