Tag: scam

The decentralized finance industry is one of the most distinct industries in the crypto market, as it boasts all kinds of financial products. With this, traders carry out millions in transactions every day, with most of the tokens having massive amounts locked in them. Despite the many opportunities to make profits in the market, it is not as safe as it should be....

Reading Time: 2 minutes Jeremy Spence, AKA CoinSignals, has pleaded guilty to commodities fraud Spence ran a crypto trading operation which turned into a Ponzi scheme after heavy losses Spence was arrested in late 2018 and faces up to 10 years in prison Jeremy...

Reading Time: 2 minutes Celsius CFO Yaron Shalem was among seven people arrested for an alleged cryptocurrency fraud recently Shalem was arrested alongside Moshe Hogeg, who detention led to a deal between Ownix and FC Barcelona being scrapped Celsius reassured users...

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...

Reading Time: 2 minutes FC Barcelona has cut ties with NFT platform Ownix less than a month into its deal Ownix consultant Moshe Hogeg has been arrested for alleged involvement in a cryptocurrency scam FC Barcelona has scrapped its deal while Ownix has cut ties with...

Reading Time: 2 minutes BitConnect victims are to be the beneficiaries of the sale of $56 million worth of cryptocurrency taken from its lead promoter Glenn Arcaro saw his stash seized as part of the investigation into his role in the Ponzi scheme Authorities can now...

Reading Time: 2 minutes The FBI has warned citizens over a rise in scams which ends in the victim sending bitcoin through a crypto ATM The ruse usually starts with some kind of social element and ends with a request for money n The victim is convinced to send the...

Reading Time: 2 minutes The former lawyer of OneCoin founder Dr Ruja Ignatova is on trial in Germany Martin Breidenbach gave details of a €20 million London property purchase by Dr Ruja Breidenbach is accused of money laundering on behalf of the OneCoin creator...

Reading Time: 2 minutes Binance has said that it will assist in tracking the proceeds of the Squid Token scam The Squid Token founders stole over $3 million in a rug pull The token was not associated with the TV show...

SQUID token managed to skyrocket over 75,000% prior to its collapse.

The biggest HYPE in cryptocurrencies happened and ended badly. Rug-pulls are becoming very common lately, and are costing people hundreds if not thousands of dollars. The Squid Token crash is one of those stories and should be a learning lesson for all cryptocurrency enthusiasts. In this article, we're going to see what this project was all about, and see how...

Scams in the crypto space have recorded a meteoric rise with the bull rally and one Coinbase user has suffered a tremendous loss after falling victim to one of these scams. The user had fallen victim to the phishing scam that saw him lose millions in crypto to the scammer in a matter of minutes. These kinds of scams have been on the...

Non-fungible tokens, NFTs, are digital assets that connect ownership to real- world items or objects such as art, music, videos, etc. Though they function with the same blockchain technology as cryptocurrencies, they are not currencies. NFTs are highly speculative and usually sell for millions. However, not every investor should desire them. Ranging from popular memes to pixel cartoons, the popularity of non-fungible tokens has...

The scheme was mostly targeting US residents.

Reading Time: 2 minutes The SEC has identified more bank accounts linked to the META 1 scam A new report highlights the agency’s desire to further investigate “the flow of investor funds” META 1 is still operating despite an SEC emergency stop order in 2020 The...

Scams and hacks are on the rise in the crypto sector. With the way things are going, it is only going to go higher. Crypto exchanges are doing all they can to curb this menace. However, scammers are devising new methods to carry out their malicious activities. Also, the scammers are having a field day with quite a lot of things helping their...

Reading Time: 2 minutes The story of Gerald Cotten and QuadrigaCX is to be made into a Netflix documentary QuadrigaCX folded when Cotten supposedly died, leaving massive debts Some claim Cotten faked his death and has all the funds in his personal possession The...

Reading Time: 2 minutes A Russian high court has rejected an appeal against the arrest of three Finiko Ponzi scheme associates The three men fled Russia following the arrest of Finiko founder Kirill Doronin and scam promoters Finiko took some $1.5 billion in...

Reading Time: 4 minutes The META 1 scam knows no bounds, with the project now issuing reports comparing itself to other crypto projects META 1, which claims to have the world’s fastest blockchain, says it is better than Cardano and Litecoin among others META 1 is in the...

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...