Tag: fraud

Jan 13 2023

Crypto.com lays off 20% of workforce after FTX collapse

Kris Marszalek, CEO of Crypto.com has announced a new wave of staff layoffs that will reduce its global workforce by another 20%. Kris Marszalek, the co- founder and CEO of Crypto.com, has announced a new round of staff layoffs that will further reduce its global workforce by 20%. He cited weak market conditions and "recent industry […] The post...

Dec 13 2022

SBF Indictment Unsealed: Sam Bankman-Fried Accused Of Conspiracy, Fraud, And Campaign Finance Violations

Summary: Prosecutors from the Southern District of New York filed criminal charges against Sam Bankman-Fried on Tuesday. The unseal indictment order detailed eight counts including fraud, conspiracy, and violation of U.S. Campaign Finance Laws. Other authorities like the CFTC and SEC filed charges against Bankman-Fried following his arrest by Bahamian law enforcement. The United States of America charged FTX Founder Sam Bankman-Fried on...

FTX Founder Sam Bankman-Fried Arrested In The Bahamas

Dec 13 2022 Published at Bitcoin Magazine under tags  arrest bahamas fraud ftx legal

Bahamian authorities have arrested Sam Bankman-Fried, the founder and ex-CEO of cryptocurrency exchange FTX, after the U.S. filed criminal charges.Sam Bankman-Fried, the founder and former CEO of Bitcoin and cryptocurrency exchange FTX, has been arrested in the Bahamas by local authorities.The arrest followed receipt of formal notification from the U.S. that it had filed criminal charges against SBF, per a...

Dec 02 2022

Adam Cochran on Why Crypto Prices Will Be Down Bad for the Next Six Months – Ep. 427

Dec 02 2022 Published at Unchained Podcast under tags  2022 adam cochran alameda blockfi dcg

Adam Cochran, partner at Cinneamhain Ventures, talks about the collapses suffered during this year, their impacts on big traditional finance players, and what’s coming in the crypto markets in the near future. Show highlights: whether Sam Bankman-Fried lied during his interview at the Deal Book Summit why SBF kept the number of FTX's engineers at such a low number why Adam is optimistic...

The FTX Ponzi: Uncovering The Largest Fraud In Crypto History

Modern day alchemy, unsurprisingly, failed. A deep dive into FTX and the events leading to the collapse of the now notorious crypto exchange....

Nov 25 2022

Singapore Police Investigating Crypto Platform Hodlnaut for Fraud

Singapore police are investigating local cryptocurrency lending and borrowing platform, Hodlnaut, and its directors for alleged cheating and fraud.

According to the official press release of Singapore police, the investigation came following multiple reports of allegations of false representations by the troubled crypto exchange...

Nov 21 2022

Ohio Man Faces Criminal Charges for $10 Million Crypto Ponzi Scheme

The US Department of Justice has brought criminal charges against an Ohio man for his alleged involvement in a $10 million cryptocurrency Ponzi scheme.

Announced last week, 27-year-old Rathnakishore Giri allegedly pulled off the scam by convincing investors to invest in his fund. He...

Nov 09 2022

TRM Labs Raises $70M In Expanded Series B Round

The expansion round, which TRM labs raised an additional $130 million, was spearheaded by the private equity company Thoma Bravo. TRM Labs, a blockchain- based intelligence firm, revealed on Nov. 9 that it has increased the size of its Series B investment round by $70 million, bringing the total raised to $130 million. Thoma Bravo, a […] The post TRM...

Oct 28 2022

United Kingdom banks are a Threat to Crypto

Banks in the UK try to stop both businesses and people from investing in cryptocurrency. The problem should be fixed by the government. In 2018, the Financial Conduct Authority (FCA) of the United Kingdom wrote to the heads of the country's biggest high-street banks to stress the importance of doing due diligence when doing business […] The post...

Oct 26 2022

Former Bithumb chairman could face an 8-year prison sentence

Oct 26 2022 Published at Coinscreed under tags  bithumb fraud hacks and scams prison

If found guilty the former chairman of South Korean crypto exchange Bithumb could be sentenced to jail for a maximum of eight years over the alleged $70m fraud. According to a report from Yonhap News Agency, local prosecutors sought the Seoul District Court for the Bithumb sentence on October 25, and the sentencing hearing will […] The post...

Oct 24 2022

SBF Leaked Crypto Draft Implicates DeFi

Oct 24 2022 Published at Coinscreed under tags  defi fraud news sbf

Sam Bankman-Fried (SBF) was criticized last week when a leaked draft of crypto legislation showed a controversial clause that would put a lot of restrictions on DeFi. The first big news from the leaked draft is the idea that crypto should be regulated by the Commodity Futures Trading Commission (CFTC) instead of the Securities and […] The post SBF Leaked...

Oct 04 2022

Mastercard releases new tool to prevent cryptocurrency fraud

The latest offering from Mastercard enables financial institutions to identify and stop fraud on its network's crypto merchant platforms. On October 3, the financial services company Mastercard introduced a brand-new crypto solution pertaining to risk administration. The goal of Mastercard's new service, Crypto Secure, is to assist banks in identifying and preventing fraud on platforms […] The post...

Sep 27 2022

Oracle to Pay $23M to Settle Bribery Charges against Asian Subsidiaries

Oracle Corporation, a Texas-headquartered American software and technology company, has agreed to pay more than $23 million to settle bribery charges against its subsidiaries in Turkey, the United Arab Emirates (UAE) and India.

The US

Sep 02 2022

Runaway Thodex Crypto Exchange CEO Arrested in Albania, Turkey Says

The Turkish Ministry of Internal Affairs announced on Tuesday that 28-years-old Faruk Fatih Ozer, Founder and CEO of folded Turkish cryptocurrency exchange Thodex, has been arrested in Albania.

The ministry said Fatih was rounded up in Vlorë, a city in Southern Albania, after he was found through his biometric identification.

The government ministry further noted that the process to extradite Fatih to Turkey has...

Aug 31 2022

Michael Saylor and MicroStrategy Sued for Tax Fraud

Billionaire Bitcoin whale Michael Saylor is being sued by the District of Columbia, where he currently resides, for tax fraud. D.C. Attorney General Karl Racine made the announcement Wednesday on...

Aug 28 2022

Ivars Azuins Was Extradited to the United States, Charged with Wire and Securities Fraud

Early in 2021 the US Securities and Exchange Commission (SEC) charged Ivars Auzins (29) with fraud. According to the allegations, between November 2017 and July 2019 Auzins received more than $7 million to Auzins companies.

After receiving the funds (in cryptocurrencies), the...

Jun 30 2022

$4B Crypto Scammer Added to FBI’s Most Wanted List

Jun 30 2022 Published at Crypto Briefing under tags  fraud people ponzi

Ruja Ignatova has been added to the FBIs Ten Most Wanted List for allegedly scamming investors out of $4 billion through OneCoin. Wanted for $4 Billion Scam The hunt for...

Jun 27 2022

Nexo Issues Cease-and-Desist Letter to Twitter User Accusing It of Embezzlement

Jun 27 2022 Published at Ethereum World News under tags  cryptocurrency fraud market news nexo

Nexo has sent a cease-and-desist letter to a user making serious criminal claims. Nexo published a lengthy blog post dismissing the claims and providing reasoning against the individual’s largely unsubstantiated claims. The individual’s followers have also been receiving cease-and-desist claims. Crypto lending platform Nexo has sent a cease-and-desist letter to a Twitter account accusing it of embezzlement. Nexo published a blog post on...

May 11 2022

Five States Issue Cease-and-Desist to Russian Metaverse Casino

May 11 2022 Published at Crypto Briefing under tags  fraud metaverse news russia

State securities regulators in Texas, Wisconsin, Kentucky, New Jersey, and Alabama have issued an emergency cease-and-desist order against the Russian Metaverse gambling platform Flamingo Casino Club for concealing information about...

May 02 2022

Three Nigerians Allegedly Use Money Laundering Proceeds To Buy Bitcoins Worth Over $43 Million – Report Reveals

May 02 2022 Published at Coinscreed under tags  bitcoin bitcoin news fraud money laundering

Three Nigerians are accused of using money laundering proceeds to purchase Bitcoin worth more than $43 million from cryptocurrency exchange platforms such as Binance and Busha. According to a report, Interpol is attempting to close a case in which three Nigerian nationals are suspected of using money laundering proceeds to purchase Bitcoins worth more than […]

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