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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: fraud

Cryptocurrency-Related Lawsuits Hits All-Time High in 2018

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

Cryptocurrency-Related Lawsuits Hits All-Time High in 2018

Cryptocurrency-related lawsuits have officially reached its peak, tripling in 2018 According to a 2018 Securities Litigation Report released on September 11 by Lex Machina. The number of cases mentioning Bitcoin or blockchain has increased significantly from the previous years, which coincide with the rise and fall of bitcoin and other cryptocurrencies. Increase in Lawsuits and the Nomination of SEC Chairman…

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ICO Market Maturing in 2018, Says UK Consultancy

Category: Altcoins, Blockchain, Business, Crime, Finance, Investment, News

ICO Market Maturing in 2018, Says UK Consultancy

The initial coin offering (ICO) market is snowballing, with 537 ICOs and $13.7 billion in funds closing successfully in the first five months of 2018. According to Consultancy UK’s article published on September 17, 2018, the ICO market’s boom is a result of more explicit regulation in some jurisdictions, which has helped the new fundraising approach reach maturity and become…

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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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TokenLot ICO Superstore in Hot Water with U.S. SEC

Category: Finance, Investment, News, Regulation

TokenLot ICO Superstore in Hot Water with U.S. SEC

The United States Securities and Exchange Commission (SEC), has fined TokenLot and its founders more than $550,000 for doing business in the U.S. as unregistered broker-dealers. The regulatory watchdog has also slapped them with officer-director bar, amongst other penalties, according to a Finance Magnates report on September 11, 2018. TokenLot on the SEC Black Book TokenLot, an initial coin offering…

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U.S. Federal Securities Laws Can Cover Cryptoassets Says American DOJ

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

U.S. Federal Securities Laws Can Cover Cryptoassets Says American DOJ

In what has been tagged a first-of-its-kind ruling, a United States Judge has declared that the country’s federal securities legislation can be employed in prosecuting organizers of fraudulent cryptocurrency-linked investment schemes, reported Reuters on September 11, 2018. REcoin and Diamond ICO Organizers in the SEC Snare Per the report, United States District Judge Raymond Dearie has made it clear in…

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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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NASAA Investigating 200 ICOs for Fraud in “Operation Cryptosweep”

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

NASAA Investigating 200 ICOs for Fraud in “Operation Cryptosweep”

According to an August 28, 2018, report by NASAA, the North American Securities Administrators Association (NASAA) has taken its anti-fraud drive to the next level within the ICO space. Operation Cryptosweep and the ICO Market Since beginning a crackdown on fraudulent ICO’s with “Operation Cryptosweep” in May 2018, the body has engaged in 200 active ICO fraud investigations, up from…

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Save Your Crypto From Investing Into Fake ICOs Using Browser Extension

Category: Altcoins, Bitcoin, Ethereum, News

Save Your Crypto From Investing Into Fake ICOs Using Browser Extension

As a lot of people would be aware, topics about cryptocurrencies as well as Initial Coin Offerings (ICOs) are like hot cakes- meaning, they are in high demand; a pie that a lot of people want a piece of. However, just like many cryptocurrencies, not all ICOs are actual or materialize.   Fake ICO Victim Opens Blockchain-Powered Verification Service As…

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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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Bitcoin and Other Cryptocurrency Fraud on the Rise in Britain

Category: Altcoins, Bitcoin, News

Bitcoin and Other Cryptocurrency Fraud on the Rise in Britain

According to the Financial Conduct Authority (FCA), a British watchdog, cryptocurrency fraud is on the rise in Britain according to Reuters report on August 17, 2018. The fraudsters lure their victims with promises of instant wealth through their “investment packages.” Two and a Half Million Dollars Lost to Fraud A report released by the watchdog reveals that victims of fraud…

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