Tag: exit scam

Oct 24 2022

Crypto Staking Platform Freeway Halts Withdrawals

Freeway, a cryptocurrency staking platform, has paused withdrawals citing crypto and forex market volatility. The sudden move of the project is signaling another rug-pull in the crypto space.

The cryptocurrency project offers “Superchargers” with an annual...

Aug 31 2022

Thodex Founder Faruk Özer Arrested in Albania

Reading Time: 2 minutes The fugitive founder of Turkish exchange Thodex has been arrested in Albania Faruk Özer shuttered the exchange last year and fled, potentially with up to $2 billion in user funds Özer was arrested in Albania and will be handed to Turkish...

Jul 29 2022

NFT Rug Pull Season is Upon Us

Jul 29 2022 Published at FullyCrypto under tags  bear market exit scam nft nft news

Reading Time: 2 minutes NFT rug pulls will become more and more common as the bear market progresses Projects that mismanaged their funds will fold, while others will starve for lack of income NFT holders will realise that a good portion of the NFTs in their wallets...

Jul 26 2022

Teddydoge Rug Pull Sees Founders Take $5 Million

Reading Time: 2 minutes The founders of Teddydoge have executed an exit scam, taking $5 million with them The administrators deployed 30 billion TEDDY tokens which they sold, crashing the market The memecoin was only launched...

Apr 02 2022

A Turkish Prosecutor Wants Missing Crypto Exchange CEO Jailed For 40,000 Years

A Turkish prosecutor wants to slap the founders and executives of the Thodex cryptocurrency exchange with what could be the harshest prison sentence of all time. Bloomberg reported Friday, citing Demiroren News Agency, that the charges against Istanbul-based Thodex crypto exchange seeks sentences of up to 40,564 years for each of the 21 accused. According to local media sources, the defendants are among...

Dec 21 2021

Africrypt Scam Victims Receive First Payouts

Reading Time: 2 minutes The victims of the Africrypt scam have received the first payouts after the company was bought out Africrypt founders claim they were hacked and lost tens of thousands of investors’ bitcoin Little is known about the company that has agreed to buy...

Nov 28 2021

Company Behind Africrypt Scam Could be Salvaged

Reading Time: 2 minutes The company behind the Africrypt scam could be salvaged An unknown investor is willing to plough millions in to pay back victims and re-start the trading company The deal include the re-hiring of the founders, who are on the run The...

Nov 02 2021

Got Rekt On Squid Game? Here Are The Warning Signs You Missed (Ignored)

Nov 02 2021 Published at Bitcoinist.com under tags  altcoins exit scam marbles rug pull squid

The Squid Game cryptocurrency, named after the beloved Netflix series of the same name, was the talk of the crypto space for the one week it was in operation. It quickly gained popularity among short-term holders interested in quick gains. The popularity of meme coins like Shiba Inu and Dogecoin with no utility but massive returns helped the token gain a following as...

Nov 01 2021

AnubisDAO Victims Still Awaiting Explanation of $60 Million Loss

Reading Time: 2 minutes AnubisDAO victims are still awaiting a “community call” to explain the collapse of the project Someone rinsed the liquidity pool of $60 million before AnubisDAO launched The team promised a community call then cut off all forms of communication...

Sep 21 2021

Africrypt Founders to Give Testimony Next Month

Reading Time: 2 minutes The founders of Africrypt, the South African scam investment scheme, are set to give video evidence next month Ameer and Raees Cajee, whose fund supposedly took in over $2 billion, are in hiding following an alleged hack on the wallets The fund’s...

Aug 20 2021

Jul 31 2021

Cajee Brothers Sought in International Manhunt

Reading Time: 2 minutes The Cajee brothers are the subjects of an international manhunt after conflicting reports over their whereabouts The pair fled South Africa when their Africrypt investment firm collapsed The Cajee brothers could have taken almost $3 billion in...

Jun 29 2021

AfriCrypt Founders: We Were Hacked

Reading Time: 2 minutes One of the founders of AfriCrypt has denied that the platform held billions of dollars in Bitcoin Raees Cajee told the Wall Street Journal that they never managed more than $200 million He also maintained that AfriCrypt was hacked and $5...

Jun 25 2021

Africrypt Exit Scam Sees $2.3 Billion in Bitcoin Stolen

Reading Time: 2 minutes The founders of Africrypt has exit scammed with $2.3 billion in bitcoin The two brothers, aged 20 and 17, appear to have absconded with ₿69,000 Africrypt was allegedly a cryptocurrency exchange, bank, and...

Jun 24 2021

Beware the Soft Rug, Crypto’s Latest Scam

Reading Time: 2 minutes The term ‘soft rug’ has been coined to describe a team selling tokens in batches over time before pulling the plug on a project The concept of a soft rug isn’t new, but it is starting to happen more frequently There is a way to guard against...

May 24 2021

DEFI100 Claims Website Hack Was Behind Exit Scam Message

Reading Time: 2 minutes DEFI100, the project that seemed to openly exit scam over the weekend, has denied doing so The failed project has been dormant since March, and there were claims that founders had run off with $32 million The founders have dismissed these claims,...

May 19 2021

WarOnRugs Rug Pulls Fairmoon, Steals $500,000

Reading Time: 2 minutes Anti-scam advocates WarOnRugs have rug pulled their own token, Fairmoon The group stole over $500,000 worth of user funds under the guise of a token burn The event is another reminder that such investments are hugely risky WarOnRugs, a...

May 02 2021

Thodex Exit Scam Sees 83 Detained in Turkey

Reading Time: 2 minutes 83 individuals associated with shuttered Turkish cryptocurrency exchange Thordex were detained this week Six were formally arrested who may have information on CEO Faruk Fatih Özer who has fled the country...

Apr 22 2021

Turkish Exchange Thodex Goes Dark as CEO Leaves Country

Reading Time: 2 minutes Turkish cryptocurrency exchange Thodex has gone dark with billions on its platform Thordex said that it is investigating potential investment which has necessitated a 4-5 day closure The platform has 391,000 active users and billions of dollars’...

Mar 12 2021

PAID Network Launches New Token After Hack

Reading Time: 2 minutes PAID Network has airdropped the first tranche of replacement tokens following last week’s hack A smart contract was exploited last week which saw a hacker sell over $3 million worth of PAID tokens Some holders will have to wait while centralized...

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