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World Blockchain Roadshow 2018 – Asia and Europe • June 28 - August 18, 2018

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Tag: fraud

Crypto Scam Epidemic on Twitter Draws Elon Musk’s Attention

Category: Altcoins, Bitcoin, Ethereum, News

Crypto Scam Epidemic on Twitter Draws Elon Musk’s Attention

A rampant epidemic of cryptocurrency fraud plaguing Twitter for the past several months has now drawn the attention of Elon Musk. Musk took to Twitter on July 8, 2018, to speak out against the scam after he found himself in the whole mess. Musk Drawn into the Crypto Scam “I want to know who is running the Etherium scambots! Mad…

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Bitcoin Price Manipulation Leads to Loss of Trust in Cryptocurrencies

Category: Altcoins, Bitcoin, Blockchain, Business, Crime, News

Bitcoin Price Manipulation Leads to Loss of Trust in Cryptocurrencies

The massive price manipulation in the cryptocurrency trading market affects both investors and authorities alike. While the former loses money, the latter finds price volatility the chief nemesis of the rising asset class. The absence of a central body tracking such illicit behaviour causes the sector to be mistrusted as a whole. Investors Losing Money Tyler Moore and Neil Gandal,…

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Silk Road Adviser Extradited to the USA After Using Cryptocurrency for Illegal Purposes

Category: Blockchain, News

Silk Road Adviser Extradited to the USA After Using Cryptocurrency for Illegal Purposes

The Manhattan US Attorney has announced the successful extradition of Canadian citizen Roger Thomas Clark from Thailand to face prosecution over his alleged role in the running of the now-defunct Silk Road darknet website which facilitated transactions of illegal drugs and weapons using Bitcoin. Operating from January 2011 to October 2013 when founder Ross Ulbricht was apprehended, Silk Road infamously…

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Chinese Authorities Arrest Around 100 People, Recover $267 Million from OneCoin Pyramid Scheme

Category: Altcoins, Crime, Finance, News, Regulation

Chinese Authorities Arrest Around 100 People, Recover $267 Million from OneCoin Pyramid Scheme

Chinese authorities have taken a proactive approach in cracking down the OneCoin pyramid scheme, which has caused havoc since 2016. Nearly 100 people were arrested on May 29, 2018. OneCoin Pyramid Scheme and Crackdown In China, OneCoin followed the moniker Weika Coin and offered investors an opportunity to buy OneCoin in a bid to progress through 140 different membership levels….

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Owner Raised $21 Million in Fraudulent ICO to Purchase Hawaiian Property

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

Owner Raised $21 Million in Fraudulent ICO to Purchase Hawaiian Property

A fraudulent Initial Coin Offering (ICO) faced the law’s wrath after making several false claims and deceiving investors to the tune of $21 million. Neverending Fake Tales After being brought to the notice of the Securities and Exchange Commission (SEC), a court order was imposed on the Titanium BAR token on May 29, 2018, which called for an immediate “emergency…

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South African Authorities Investigate $80 million Bitcoin Scam

Category: Altcoins, Bitcoin, Finance, News

South African Authorities Investigate $80 million Bitcoin Scam

On May 25, 2018, South African authorities announced further information of an ongoing investigation of a cryptocurrency scam that has cost investors one billion rands ($80 million). False Claims and Investor Pitfalls According to Reuters, South African police mentioned that the investigation involved BTC Global, a cryptocurrency trading company. The cryptocurrency company told clients they would earn substantial returns starting…

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Israel Citizen Charged With Money Laundering, Used Bitcoin

Category: Bitcoin, Crime, News, Tech

Israel Citizen Charged With Money Laundering, Used Bitcoin

Halmi Git was charged Monday for credit card fraud of 1 million NIS and 31 million NIS of money laundering through bitcoin. 800 Cards, 20,000 Transactions   Git obtained his funds through running illicit forums, sharing and selling credit card details for over a decade. Over 800 credit cards were affected in over 20,000 transactions, resulting in nearly $3,000,000 of…

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China’s Cybercrime Watchdog Finds 421 Fraudulent Cryptocurrencies

Category: Altcoins, Crime, Finance, News, Regulation

China’s Cybercrime Watchdog Finds 421 Fraudulent Cryptocurrencies

In recent years, the cryptocurrency space has undoubtedly drawn considerable attention, with media reports generally focusing on the monetary aspect of digital assets, as opposed to its underlying blockchain technology. However, investors looking to make a quick buck have been targeted by hackers and scammers, either with the lure of a fraudulent digital currency or with a pyramid scheme disguised…

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SEC Unveils Fraud ICO to Educate Investors

Category: Commentary, Finance, News, Regulation

SEC Unveils Fraud ICO to Educate Investors

 The Securities and Exchange Commission (SEC) has created a scam Initial Coin Offering to teach would-be investors what they should look out for before investing in such projects. The regulator has launched a fake coin offering website dubbed “Howey,” all in the effort of warning investors about fraudulent cryptocurrencies. SEC Launches Howey Coins HoweyCoins.com mimics a bogus coin offering in…

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Texas Regulator Issues Emergency Cease-and-Desist to Houston-based Crypto Firm

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

Texas Regulator Issues Emergency Cease-and-Desist to Houston-based Crypto Firm

On May 15, 2018, the Texas State Securities Board entered into an emergency cease-and-desist order against cryptocurrency investment firm Wind Wide Coin for illegal, deceptive, and fraudulent behavior. Blowing in the Wind Wide Coin Scam The Houston-based firm was illegally offering a securitized cryptocurrency program while engaging in misleading practices. These included false endorsements from high profile celebrities, members of…

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