Ponzi Scheme

Nigerian Pop Artist Shills Meme Coin and Price Briefly Doubles — Followers Question Artist’s Motives

<div class=”featured_image_container”> </div> <strong>The Nigerian pop artist and celebrity, Davido, recently posted several tweets endorsing ‘rapdoge,’ the so-called “first deflationary meme token fully supported by celebrities &amp; rappers.” In one of the tweets, Davido tells his 9.5 million followers to “buy $20, $100 or $1000 worth of rap doge tokens and be ready to make …

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There Are Now Twice as Many 2021 ‘Bitcoin Deaths’ Compared to 2020’s BTC Obituaries List

<div class=”featured_image_container”> </div> <strong>Bitcoin is down in value 45% since the crypto asset’s all-time high (ATH) three months ago and the downward movement has ignited significant speculation about another bear market. Other skeptics believe that bitcoin has died, as the web page that hosts bitcoin obituaries indicates 2021 bitcoin deaths have doubled in comparison to …

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South African asset manager denies stealing billions from users, claims $5M was lost in hack

Raees Cajee, the co-founder of South African crypto investment platform AfriCrypt, has denied claims that he and his brother ran off with billions in investor funds, asserting the platform lost $5 million in a hack. Last week, Cointelegraph reported that AfriCrypt — an asset manager purporting to offer daily returns of up to 10% that …

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Europol Cracks Down on Vitae Belgian Ponzi Scheme, Recovers €1.5 Million in Crypto

<div class=”featured_image_container”> </div> <strong>Europol, the EU law agency, cracked down on Vitae, a Belgian Ponzi scheme. Europol raided 17 locations related to the website, promoted as a social media site with its own cryptocurrency. The company operated in Switzerland under the name VITAE AG. Law enforcement officials recovered €1.1 million in cash and €1.5 million …

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Alleged $3.6B crypto Ponzi’s ‘victims’ still believe the exchange is legit

Victims of an alleged $3.6 billion crypto Ponzi scheme in South Korea are reportedly hampering the progress of a police investigation and a joint lawsuit — as they still believe in the project and hold out hopes of getting a return on their investments. On June 4, Korean law firm Daegon reportedly filed a joint …

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Fleeing Lynchpin of Nigerian Crypto Ponzi Scheme Inksnation Captured

<div class=”featured_image_container”> </div> <strong>The lynchpin of Inksnation, one of Nigeria’s biggest crypto Ponzi Schemes, Omotade-Sparks Amos Sewanu, has been captured. According to Nigeria’s Economic and Financial Crime Commission (EFCC), Sewanu, who was on the run, was nabbed in Sokoto, a city located in the northwest part of the country. Still, in its May 28 Twitter …

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National Court of Spain Takes the Investigation of the Alleged Ponzi Crypto Scheme Arbistar

<div class=”featured_image_container”> </div> <strong>The investigation against an alleged major Spanish Ponzi crypto scheme will now be in charge of the National Court of Spain. A judge from the national legal instance is now taking the investigation of Arbistar after the inhibition of a judge in Tenerife.</strong> Economic Damages Could Reach Over $120 Million According to …

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Florida man escapes paying a $4.5M SEC penalty over a crypto Ponzi scheme

The founder of a multi-million crypto Ponzi scheme has escaped paying a $4.5 million penalty to the U.S. Securities and Exchange Commission. On March 23, the U.S District Court of Southern Florida initially ordered Jose Angel Aman to pay the SEC more than $4.2 million in disgorgement, and $300,000 in prejudgement interest. However, the court …

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FBI arrests 24-year-old crypto trader for commodities and wire fraud

U.S. criminal authorities have brought criminal charges against a crypto trader who they say defrauded investors out of over $5 million.  The Department of Justice announced on Tuesday that it had arrested Jeremy Spence. Between 2017 and 2019, the 24-year-old Spence operated a crypto investment scheme under the name of “Coin Signals,” primarily via Twitter and Discord.  …

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Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered

<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/422919″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/12/1456×360-1.jpg” alt width=”728″ height=”180″></a></div><strong>The US government says it has extradited Gutemberg Dos Santos, the co-founder of the Airbit Club Ponzi scheme from Panama and he now awaits his trial in a Manhattan court. Dos Santos is facing charges relating to his …

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