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World Ethical Data Forum 2018 • September 19-20, 2018

Held at the World Trade Centre in the Catalan city of Barcelona and covering areas such as cryptocurrency and ICO…

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Tag: Crime

Texas Man Sentenced to Jail after Being Found Guilty of $9 Million Crypto Fraud

Category: Altcoins, Business, Crime, Mining, News

Texas Man Sentenced to Jail after Being Found Guilty of $9 Million Crypto Fraud

A Texas man, formerly a citizen of Somer, has been sentenced to 21 months in prison for his involvement in a cryptocurrency Ponzi scheme worth $9 million. Homero Joshua Garza, the 33-year-old convict, will be put under three years of supervised release after his jail term ends. Garza will be spending the first six months of those three years in…

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Hackers Recycle old Ransomware for new Crypto Malware

Category: Altcoins, Bitcoin, Crime, Mining, News

Hackers Recycle old Ransomware for new Crypto Malware

Cybersecurity experts at Fortinet and Kaspersky have discovered new cryptocurrency malware that has been developed using updated versions of known ransomware according to September 5, 2018, reports. Cryptojacking Malware If you have been following blockchain media, you will be aware of the aggressive surge in cryptocurrency mining malware that allows hackers to implement code into a website that mines cryptocurrency…

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Finnish Bitcoin Scam Victim Withdraws Case against Thai Fraudsters

Category: Bitcoin, Crime, News, Regulation

Finnish Bitcoin Scam Victim Withdraws Case against Thai Fraudsters

Aarni Otava Saarimaa, a 22-year old Finnish national who fell victim to a bitcoin scam scheme organized by Thai fraudsters in June last year, has reached a “satisfactory” agreement with the criminals and has requested a withdrawal of the case, as first reported by Bangkok Post on September 4, 2018. Complaint Withdrawn According to the report, Saarimaa, a Finnish investor…

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Busted: Indian Police Raids CoinX Trading Office, Unearth $1.43 Million MLM Scam

Category: Bitcoin, Crime, News, Regulation

Busted: Indian Police Raids CoinX Trading Office, Unearth $1.43 Million MLM Scam

Yet another cryptocurrency-based Ponzi MLM scheme surfaced on August 25, 2018, as the police caught five fraudsters in the city of Hyderabad, India. While raiding a local real estate firm, GRM Estates Pvt. Ltd, cops caught imposters, including the brain behind the fraud company CoinX Trading, Gardas Ramesh. The company duped innocent investors by promising them lucrative investment plans based…

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Mt. Gox is preparing to return $1B in stolen Bitcoin to Affected Users

Category: Bitcoin, Crime, Exchange, Finance, News, Regulation

Mt. Gox is preparing to return $1B in stolen Bitcoin to Affected Users

On August 21, 2018, Mt. Gox announced it was preparing to give back around $1 billion in bitcoin to the victims of the exchange rampage. Mt. Gox Retrospective It seems that Mt. Gox is going to finally refund bitcoin to the affected users following the exchange saga. The MT. Gox infamy began in early 2014 and involved over a billion…

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Sim-Swapping, Bitcoin Swiping 19-Year-Old Snags Luxury Car

Category: Altcoins, Bitcoin, Crime, News

Sim-Swapping, Bitcoin Swiping 19-Year-Old Snags Luxury Car

On August 17th police arrested 19-year-old  Xzavyer Narvaez on seven counts of computer crime. These included identity fraud and grand theft. The hacker was accused of hijacking phone numbers to steal large amounts of cryptocurrency successfully. Attacks like this are a part of an emerging type of fraud called sim swapping. While Narvaez was caught, it’s clear that attacks like…

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Millionaire Loses $2.3 Million Worth of Bitcoin for Counterfeit Euros

Category: Bitcoin, Crime, Finance, News, Regulation

Millionaire Loses $2.3 Million Worth of Bitcoin for Counterfeit Euros

A South Korean businessman has unfortunately lost $2.3 million worth of bitcoin after he exchanged the cryptocurrency for crude, photocopied fake Euros. The Hard Fork reported on August 20, 2018, that a Serbian man and his accomplice managed to lure the South Korean businessman with the false intention of investing in his business. After the South Korean reported the situation…

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Brains behind $2.4 Billion Bitcoin Ponzi Scheme Arrested in Delhi

Category: Altcoins, Business, Crime, Finance, News

Brains behind $2.4 Billion Bitcoin Ponzi Scheme Arrested in Delhi

The man behind the Asian branch of the $2.4 billion cryptocurrency scam operation Bitconnect has been arrested by police officers on August 18, 2018, from the Gujarat Criminal Investigation Department at Delhi Airport on his return to India. Divyesh Darji, who has reportedly been living as a fugitive in Dubai was apprehended at Delhi Airport as the investigation into the…

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The SEC Slaps Scam ICO Organizer with $30,000 Penalty

Category: Altcoins, Business, Finance, ICO News, News, Regulation

The SEC Slaps Scam ICO Organizer with $30,000 Penalty

According to a statement released by the United States Securities and Exchange Commission (SEC) on August 14, 2018, David T. Laurance, the organizer of a fraudulent initial coin offering (ICO) that issued Tomahawkcoins to California residents, has been penalized by the regulatory watchdog. Tomahawk Scam ICO Crushed Per the SEC order, Laurance sold Tomahawkcoins claiming to raise funds for oil…

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$39,000 in Cash Confiscated from US Citizen While Traveling Proves Merit of Crypto

Category: Altcoins, Bitcoin, Crime, Ethereum, News, Regulation

$39,000 in Cash Confiscated from US Citizen While Traveling Proves Merit of Crypto

In 2016, Edward Phipps, a U.S. citizen and the resident of Maine, was stopped by local police for driving one mile over the speed limit. Police officers requested Phipps to step out of the vehicle, confiscated $46,000 in cash found in his car, and forced him to forfeit it to federal prosecutors. Advantage of Crypto Two years ago, Phipps, who…

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