Bitcoin Scams

Lawsuit Filed to Stop a Global Cryptocurrency Scam Spreading in India

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<div class=”featured_image_container”> </div> <strong>A class-action lawsuit has reportedly been filed against a cryptocurrency scam that has duped many Indian investors. The scam, promoted in three Indian languages, lures investors by promising up to 900% return on investments. T</strong><strong>he Delhi court has directed a notice to be placed in major newspapers, seeking victims of this scam …

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Localbitcoins Trader Facing up to 40 Years in Prison Over Bitcoin Fraud Schemes

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<div class=”featured_image_container”> </div> <strong>A trader on Localbitcoins and Paxful has pleaded guilty to charges in connection with a couple of bitcoin scams. The U.S. Department of Justice alleges that the trader knowingly sold bitcoin to victims of fraudulent schemes.</strong> Bitcoin Trader Facing Jail Time The U.S. Department of Justice (DOJ) announced last week that a …

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South African Regulator Raids Home of Key Members of an Alleged Crypto Ponzi Scheme

Leave a Comment / asset seizure, Bitcoin Balances, Bitcoin Ponzi scheme, Bitcoin Scams, Bitcoin withdrawals, BitConnect, Cheri Marks, Financial Sector Conduct Authority, Law Enforcement, MTI, Regulation / By

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/387428″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/10/bitcoin-exchange-banner-8.png” alt width=”728″ height=”90″></a></div><strong>A South African regulator along with the country’s police have reportedly seized electronics devices and computers belonging to two principal members of Mirror Trading International (MTI), an alleged bitcoin Ponzi scheme. The raid at Clynton and Cheri Marks’ …

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New York polls crypto firms on security measures after Twitter hack

Leave a Comment / Bitcoin Scams, Bitstamp, Coinbase, cybersecurity, Elon Musk, Gemini, Hacks, Scams, Square, Twitter / By

The New York Department of Financial Services (NYDFS) has released a lengthy report analyzing the impact of July’s high-profile Twitter hack, which resulted in the theft of over $118,000 worth of Bitcoin (BTC).  Far beyond the immediate material impact, the NYDFS states that the incident exposed the deep cybersecurity weaknesses of a publicly-traded social media company valued …

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‘Bitcoin Pope’ faces up to 10 years in jail for running two crypto scams

Leave a Comment / Bitcoin Scams, Cryptocurrencies, Forex, Fraud, Government, Law, Regulation, texas, United States / By

A securities regulator in the United States, the Texas State Securities Board (TSSB), has detected another batch of alleged cryptocurrency scams. On Sept. 3, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against two alleged crypto scam schemes known as Forex Birds and PEK Universe. The published order names Kumar …

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Ministers used influence to pilfer millions in alleged Ponzi Scheme

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A recent filing from the United States Securities and Exchange Commission, or SEC, takes action against three individuals for allegedly raising millions of dollars against more than 1,000 victims.  “From 2017 to May 2019, Jali, Frimpong, and Johnson, directly and through two entities created to perpetrate the scheme, Smart Partners and 1st Million (the ‘Companies’), …

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P2P Cryptocurrency Exchanges in Africa Pivot: Nigeria and Kenya the Target Markets

Leave a Comment / Binance, Bitcoin Scams, Crypto Adoption, Cryptocurrency, Cryptocurrency Exchanges, Emerging Markets, fees structures, KuCoin, Local.bitcoin.com, on-ramps, P2P Platform, Paxful, peer to peer trading, Scams / By

Leading cryptocurrency exchanges are bullish about Africa’s growth prospects as evidenced by their ongoing forays into the continent. During the month of August, Kucoin crypto exchange announced the addition of Nigeria’s naira currency as a payment option on its peer-to-peer platform. Similarly, Binance added Kenya’s popular mobile money service Mpesa to its peer-to-peer platform in …

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Facial Recognition Could Help to Stamp Out Bitcoin Social Media Scams

Leave a Comment / Bitcoin, Bitcoin Scams, business, cybersecurity, Hackers, Technology, Twitter / By

Facial recognition can help prevent future Bitcoin (BTC) scams like those that hit Twitter and YouTube, said Rod Hsu, president and co-founder of virtual currency platform Coincurve.  During an interview with Cointelegraph, Hsu said Bitcoin is an electronic form of currency that is non-reversible and somewhat anonymous, “coupled with this gap in understanding makes it …

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South African Bitcoin Investment Company Faces Fresh Scam Allegations

Leave a Comment / AMF, artificial intelligence, Bitcoin Scams, cease and desist order, Forex Peace Army, FX Choice, Johann Steynberg, Mirror Trading International (MTI), Multi-Level Marketing, Regulation, Texas State Securities Board (TSSB) / By

FX Choice, a forex and crypto trading company, is making new allegations that South African bitcoin investment company, Mirror Trading International (MTI) is a multi-level marketing scam. The company says it uncovered this after researching into MTI, a firm that claims to have “118,027 members in 192 countries” and ostensibly sees “12,879.70 Bitcoin in trade …

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Steve Wozniak Sues Youtube, Google for Promoting Bitcoin Giveaway Scam — Youtube Denies Fault

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Apple co-founder Steve Wozniak and 17 other victims have sued Youtube and Google for allowing, promoting, and profiting from bitcoin giveaway scams. However, Youtube insists that it is not at fault for scammers using its video-sharing platform for cryptocurrency giveaway scams and other fraudulent schemes. Steve Wozniak and 17 Victims Take Youtube and Google to …

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