Fraud

20,000 Helbizcoin Investors Accuse Company of Trying to Destroy Evidence, Seek Court Injunction

Bitcoin Entrepreneur Brock Pierce Joins the 2020 US Presidential Election Blockchain entrepreneur and former Disney child actor, Brock Pierce, is running for President of the United States this election. Pierce announced he was running during America’s Independence Day celebration on July 4, the same day Kanye West revealed his candidacy. … read more. 700,000 Expedia …

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Romanian Programmer Admits Conspiring to Create $722M Bitclub Ponzi Scheme

Gifts and Remittances: Bitcoin.com’s New Tools Allow People to Send BCH via Email This month Bitcoin.com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin.com’s Roger Ver showcased gifts.bitcoin.com, a new feature that allows individuals to send BCH gift cards … read …

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BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin

A 35-year-old Romanian programmer of the Bitclub Network pleaded guilty on Thursday to his role in establishing the mining pool Ponzi scheme that defrauded investors of hundreds of millions of dollars in bitcoin. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a …

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Prosecutors Expect Guilty Plea From Alleged $7m Crypto Fraudster

Jon Barry Thompson, the accused operator of a fraudulent crypto escrow service that defrauded $7 million from two customers, is expected to enter a guilty plea — with prosecutors aiming to finalize proceedings in September. “The parties expect to reach a disposition of this matter and respectfully request that the court set a control date …

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South African Investors to Lose $13 Million as Bitcoin Scammer Declared Bankrupt

Gifts and Remittances: Bitcoin.com’s New Tools Allow People to Send BCH via Email This month Bitcoin.com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin.com’s Roger Ver showcased gifts.bitcoin.com, a new feature that allows individuals to send BCH gift cards … read …

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FBI nabs Nigerian business scammer who allegedly cost victims millions

Enlarge / Ray “Hushpuppi” Abbas poses in front of a private jet in a 2019 Instagram photo. “It’s a different type of GLOW and STANDARD when you start hopping out of Rolls Royces to catch a Jet just to attend fashion shows in a different continent,” he wrote. “Your smile begin to be bright just …

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Nigerians face US charges over online fraud worth ‘hundreds of millions’

Andrew Brookes via Getty Images US law enforcement is cracking down on a pair of alleged online fraudsters that appear to have been wildly successful. The United Arab Emirates has sent the US two Nigerian nationals, Ramon Olorunwa Abbas and Olakean Jacob Ponle, to face charges relating to large “business email compromise” scams. Abbas is …

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The Most Famous Financial Pyramids in the Crypto World

In addition to the obvious advantages in the form of anonymity, accessibility, ease of use and low cost of transactions, cryptocurrencies have some serious drawbacks that impede their global adoption. The main one is the connection between crypto and crime. Everyone who has studied this topic even superficially knows that Bitcoin (BTC) still remains a …

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Russia to Reportedly Investigate an Allegedly Fraudulent TON Offering in UK

Shortly after lifting the country’s Telegram ban, Russian authorities began investigating potentially fraudulent offerings involving the company’s unlaunched token, Gram. The token was at one time meant to serve a new blockchain ecosystem known as the Telegram Open Network, or TON. Reports indicate that Russian prosecutors are set to investigate a British firm that allegedly …

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Allegedly Fraudulent Crypto Exchange Shut Down by UK High Court

The UK High Court has appointed the Official Receiver as liquidator of the cryptocurrency trading platform, GPay Ltd. According to an announcement published by the UK Insolvency Service on June 30, the crypto exchange showed signs of being “nothing but a scam”. Fake statements abound The firm, also known previously as XtraderFX and Cryptopoint, advertised …

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