#fraud

March 22, 2017 by Alex Lielacher at Bitcoin, Commentary, Finance, News

As the price of bitcoin has increased substantially over the last few years, so has the number of malicious individuals and organizations looking to take advantage of others in the Bitcoin community. Bitcoin scams are not a new occurrence as they have been around since the currency first gained some...

Iowa University Explores Effectiveness of Blockchain in Detecting Online Fraud

December 15, 2016 by Joseph Young at Business, News, Tech

The University of Iowa, an educational institution with a considerable reputation for its engineering and technology research departments, recently released a paper on detecting fraud for online businesses using blockchain technology. Researchers at the university looked into the effectiveness of blockchain technology in detecting objective fraud and ultimately, its applicability...

Defrauded HashOcean Cloud-mining Investors Seek Reparation

July 6, 2016 by Lori Brown at Business, News, Tech

Cloud-mining site Hashocean.com mysteriously vanished some time after 6:00 pm on June 25th 2016. This has come as a major financial blow to the estimated 700,000 users of the site. In an interview with BTCMANAGER, HashOcean user Chris Butler of Las Vegas, Nevada said that he normally receives a daily email...

Hope for Cryptsy? Hacker Pledges to Regain Stolen Funds

March 13, 2016 by Daniel Dob at Business, News

Cryptsy, the embattled bitcoin exchange from which over 13,000 BTC were stolen, appears to have partnered with an anonymous hacker known only as Cryptcracker to regain their funds, according to a signed contract posted on their blog. Cryptsy was founded in 2013 and went on to service over 270,000 customers,...

London Bitcoin Forum Scams Attendees, Sponsors and Hosts

March 10, 2016 by James Ryan Moreau at News

Conferences are money makers in just about any trade organization. Occasionally, however, they can nothing but great deal of smoke and mirrors, duping both participants and sponsors. In what has been revealed to be a scam, the London Bitcoin Forum seems to have swindled a fair number of people in what...

Cyber Threat Alliance: CryptoWall Earns US$325 Million from 400,000 Successful Infections

November 1, 2015 by Joseph Young at Business, News, Tech

The world’s most popular anti-virus service providers, Symantec Corp, Intel Security, Palo Alto Networks and Fortinet, have formed a cyber-security group named Cyber Threat Alliance (CTA) to explore the evolution and impact of aggressive CryptoWall ransomware. The first published report of the CTA entitled "Lucrative Ransomware Attacks: Analysis of the...

SEC Files Complaint Against Chen Over GemCoins

October 8, 2015 by Nigel Dollentas at Business, Finance, News

The SEC has recently sued Steven Chen, president of the investment company USFIA, for unregistered sale of securities, fraud in the sale of securities, and fraud in connection with the purchase and sale of securities in regards to “GemCoin,” a digital currency scheme that, if proven, will be one of...

Texas Man Pleads Guilty to Bitcoin Fraud

October 5, 2015 by Joseph Young at Finance, News

Trendon Shavers of Texas, USA, pleaded guilty in a New York court to bitcoin-related securities fraud on September 21, 2015. Shavers operated the bitcoin-based investments and securities firm Bitcoin Savings and Trust (BCS&T), offering bitcoin investments and derivatives online. In total, the Federal Bureau of Investigation reported that Shavers gathered...

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