Tag: fraud

Jan 22 2021

Is Tether a Fraud? Its Bank Says It’s Not

Gregory Pepin, deputy CEO of Deltec Bank and Trust, responds to allegations in a blog post by the pseudonymous Crypto Anonymous, that Tether is a "highly probably fraud." In this episode, he covers: how Deltec accounts for its reserves, and why they didn't show up on Crypto Anonymous's blog post...

Jan 01 2021

Dec 28 2020

SEC Obtains Emergency Asset Freeze Against Virgil Capital

Dec 28 2020 Published at CoinDesk under tags  fraud policy & regulation sec stefan qin

Stefan Qin, the 23-year-old founder of Virgil Capital, has been accused by the SEC of “fabricated records” for failing to redeem $3.5 million in investments and attempting to withdraw $1.7 million in investor funds to pay off Chinese loan sharks.

Dec 17 2020

Centra Tech Co-founder Robert Farkas Jailed For 2017 ICO

Reading Time: 2 minutes Centra Tech co-founder Robert Farkas has been sentenced to a year and a day in prison for his part in fraudulently soliciting $25 million in the 2017 ICO Centra Tech claimed to be a crypto finance company but was simply a vehicle to enrich its operators...

Dec 10 2020

Coinbit Executives Arrested on Market Manipulation Charges

Reading Time: < 1 minute Executives from South Korean exchange Coinbit have been arrested by police as part of a wash trading investigation The exchange’s offices were raided in August and an arrest warrant was issued following police interviews with the suspects in October...

Dec 09 2020

Man Gets 6 Years for $25M Diamond and Crypto Ponzi Scheme

Jose Angel Aman, charged with operating the fraudulent investment scheme, was sentenced to serve six years in federal prison and pay over $23 million in victim restitution by a federal court in Florida.

Nov 24 2020

TSSB Collars Serial Crypto Scammer James Blundell

Reading Time: 2 minutes The TSSB has issued cease and desist orders to serial crypto scammer James Blundell Blundell has been named as the operator of 10 crypto, binary option, and forex investment scams The TSSB has been one of the most active agencies in the U.S. when...

Nov 11 2020

Microsoft Bitcoin Fraudster Given Nine Year Sentence

Nov 11 2020 Published at FullyCrypto under tags  america bitcoin news crime fraud

Reading Time: 2 minutes A fraudster who used Bitcoin to try and cover his tracks after stealing $10 million worth of digital value items from Microsoft has been jailed for nine years Volodymyr Kvashuk abused his position to steal gifts cards and the like and sell them online,...

Nov 10 2020

Seattle Court Jails Ex-Microsoft Engineer for $10 Million Bitcoin Fraud

The court sentenced Volodymyr Kvashuk to nine years in prison for defrauding his employer.

Cred Mismanagement and Infighting Laid Bare

Reading Time: 2 minutes The mismanagement of recently bankrupt crypto banking platform Cred has been laid bare in a Bloomberg report The report adds color to their bankruptcy filings and alleges heavy infighting behind the scenes The company has folded with $140 million...

Nov 09 2020

FTC Refunds $470,000 to Crypto Scam Victims

Reading Time: 2 minutes The FTC has begun paying refunds to victims of three crypto Ponzi schemes Bitcoin Funding Team, My7Network, and Jetcoin ran various from 2017 to 2018 Each victim will get $59 into their PayPal account The Federal Trade Commission (FTC)...

Nov 08 2020

QuadrigaCX Trustee Reveals $141 Million Shortfall

Reading Time: 2 minutes QuadrigaCX founder Gerald Cotten traded with user funds, according to trustee EY As a result of Cotten’s losses, there is a $141 million shortfall in claimed ownership and actual funds left Customers may have had as little as 17% of their money...

Nov 07 2020

Countinghouse Lawsuit Pulled, Leaving Investors in the Dark

Reading Time: 2 minutes The lawsuit against crypto CFD trading company Countinghouse has been dropped Countinghouse blew up in December last year after an alleged sale of the company fell through Investors have been left in the dark as to what really happened and where...

Nov 06 2020

DoJ Seizes $24 Million in Crypto From Brazilian Scammer

Nov 06 2020 Published at FullyCrypto under tags  america crime cryptocurrency news fraud scam

Reading Time: 2 minutes The DoJ has seized $24 million in cryptocurrency belonging to a suspected Brazilian crypto investment scammer Marcos Antonio Fagundes was one of five who ran Indeal, a crypto investment scam that took some $200 million in under two years Fagundes...

Nov 03 2020

Fraudulent META 1 Coin Preparing For “Public Launch”

Reading Time: 3 minutes META 1 Coin, the alleged crypto project that is currently being investigated by the SEC, has announced it is preparing for its “public launch” The project, whose founder is facing a $25.5 million legal payout, has promised investors a 225,000% return on...

Oct 27 2020

300,900 Stolen USDT Wanted by U.S. Government

Oct 27 2020 Published at FullyCrypto under tags  america crime cryptocurrency news fraud hack

Reading Time: 2 minutes The U.S. government is trying to get its hand on 300,900 USDT tokens that were reported stolen by two Binance users The Chinese business partners bought the tokens on Binance and sent them to a wallet which was hacked in four minutes The...

Oct 26 2020

Busted: ASIC Freezes Websites & Bank Accounts of 2 “Ponzi Schemes”

Matthew Alan Beresford has been arrested and charged in connection with the alleged schemes.

Oct 11 2020

BitMEX – What Does the Future Hold?

Reading Time: 2 minutes BitMEX has new leadership following the charges against the three founders earlier this month The new company heads have to decide whether BitMEX goes legit or continues on its current path Either decision comes with problems and will see the...

Oct 09 2020

BitMEX Rings the Changes After Legal Trouble

Reading Time: 2 minutes BitMEX has announced several changes at the very top of the company following the CFTC charges last week The three co-founders have all stepped aside, while another executive has taken a leave of absence BitMEX faces a struggle for its very...

Oct 07 2020

‘Morris Coin’ Ponzi Scammer Arrested in India

Reading Time: 2 minutes The head of Morris Coin, an Indian cryptocurrency scam which claimed to be “the best trending platform”, has been arrested Morris Coin claimed to be a decentralized cryptocurrency when it was in fact a cookie cutter Ponzi scheme Victims were...

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