Pyramid Scheme

Spanish Police Detain Four People Allegedly Involved in a $15M Crypto Ponzi Scheme

<div class=”featured_image_container”> </div> <strong>The Spanish police detained four people of different nationalities this week for allegedly running a $15 million crypto Ponzi scheme. According to the police, “many victims” filed a complaint against them.</strong> Victims Believed Their Bitcoins Went to a Legit Company According to Policia Nacional, the four accused are Argentine, Spanish, and Italian …

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Mastermind of Alleged Billion Dollar Spanish Pyramid Scheme Arrested, Faces 16 Year Prison Sentence

<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-6.png” alt width=”728″ height=”90″></a></div><strong>The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization and money laundering. Fuentes, who has been in hiding since September, was arrested at …

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Philippines Regulator Warns Investors to Steer Clear of Mining City’s Bitcoin Vault Ponzi

<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/387399″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/10/wb_728x180-21.jpg” alt width=”728″ height=”180″></a></div><strong>There’s a mining contract scheme people are discussing and making the rounds on the web called “Mining City” or “Bitcoin Vault.” The Philippines SEC recently put out a warning against the operation and the alleged masterminds behind the …

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Leaked Data Outs Bitcoin Investment Company as Scam: Founders Deny the Allegations

A South African group calling itself “Anonymous ZA” has published fresh information that seemingly supports long-standing allegations that Mirror Trading International (MTI), an ostensible bitcoin investment company, is running a multi-level marketing scam. The new information, which was reportedly obtained after a breach of MTI internal systems, shows that the investment company is “entirely structured …

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Despite Warnings from Regulators, the Ethereum Fueled Pyramid Scheme Forsage Thrives

While Ethereum has seen a number of benefits from the decentralized finance (defi) movement and initial coin offerings (ICOs), more recently individuals have been leveraging ether for pyramid schemes and matrix cycler programs. One particular scheme crypto enthusiasts are discussing these days is the gifting pyramid scheme called Forsage. Following the demise of a number …

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Reports Claim UK’s Financial Conduct Authority ‘Pressurized’ to Remove Onecoin Scam Warning

A recent episode of the popular BBC Sounds podcast the “Missing Cryptoqueen” has shown the public a very interesting view of the powerful Onecoin Ponzi. According to two witnesses the BBC interviewed, a London law firm and a reputation management company allegedly managed to get the UK’s Financial Conduct Authority (FCA) to take down a …

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