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2018 Global Token Galaxy Expo • May 25-27, 2018

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Tag: scam

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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New GDPR Laws May Augment Cryptocurrency Theft; $1.2 Billion Stolen in 2018 Alone

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

New GDPR Laws May Augment Cryptocurrency Theft; $1.2 Billion Stolen in 2018 Alone

While fraud seems present in every financial domain, the cryptocurrency sector attracts a lot of criminals in particular due to a lack of strict security practices and negligible regulation. The funds stolen are no child’s play either, as recent research suggests a staggering value. Cryptocurrency Crimes Surging According to estimates provided by the Anti-Phishing Working Group (APWG), cyber-criminals have infiltrated…

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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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Cryptocurrency Portfolio Tracker Coincall Publishes a List of Shitcoins

Category: Altcoins, Commentary, Finance, News

Cryptocurrency Portfolio Tracker Coincall Publishes a List of Shitcoins

Coincall, a cryptocurrency portfolio tracker has recently published a list of shitcoins to inform the cryptocurrency community and raise awareness around ICO scams. The cryptocurrency movement initially began as an experiment with the positive intention of developing a better economic model for the future. When the ICO movement came, many projects raised significantly large funds. In 2017 there were over…

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Police in Dubai Use Artificial Intelligence to Track and Arrest Bitcoin Armed Robbers

Category: Bitcoin, News, Tech

Police in Dubai Use Artificial Intelligence to Track and Arrest Bitcoin Armed Robbers

The cases of crypto-related crimes seem to be on the increase with each passing day, in tandem with the surging price of bitcoin and other cryptocurrencies. However, it appears the game will soon be over for at least a few crypto robbers as Dubai police have integrated AI into crime fighting and have used the technology to aid the arrest…

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Website Threatens To Make Email Password Public, Demands Bitcoin as Ransom

Category: Altcoins, Ethereum, News

Website Threatens To Make Email Password Public, Demands Bitcoin as Ransom

In another attempt to leak confidential personal data, an anonymous developer has built a malicious copy of the famous breached passwords database “Have I been pwned.” Fraudsters ‘Hijack’ Passwords Similar to “Have I Been Pwned,” the malware initially lets one check if his/her associated email address has been breached previously. However, it also shows leaked passwords of the breached accounts,…

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$300 Million Bitcoin Scam Unearthed In India

Category: Bitcoin, Finance, News

$300 Million Bitcoin Scam Unearthed In India

The bitcoin fraudulence around the world don’t seem to cease any time soon, and this time, its struck India. Amit Bhardwaj, director and mastermind of a bitcoin mining company has been recently arrested for setting up an elaborate multi-level marketing scam to the tune of $300 million. Under this ‘scheme,’ he urged investors to invest one bitcoin for a ten…

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Trademark Lawsuit Filed by Alibaba over Dubai Firm’s ‘Alibabacoin’

Category: Altcoins, Business, Finance, News, Regulation

Trademark Lawsuit Filed by Alibaba over Dubai Firm’s ‘Alibabacoin’

You’d be forgiven if you came across “Alibaba Coins” and considered it to be another of Jack Ma’s brainchild. Truth be told, the actual Alibaba Group Holding Ltd. (BABA.N) sued the Dubai-based firm who were profiting from their name. The profits are no joke either, as the fraudulent company used Alibaba’s trademarked name and since have raised more than $3.5…

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Crypto CFD Trading Firm Olsson Capital Found to Be Unregistered by FCA

Category: Altcoins, Bitcoin, Commentary, News, Regulation

Crypto CFD Trading Firm Olsson Capital Found to Be Unregistered by FCA

The U.K.’s Financial Conduct Authority (FCA), has released a statement on March 28, 2018, warning investors about an unregistered brokerage firm. Olsson Capital, a Bulgarian firm, has been providing financial services in the UK without the authorization of the FCA. Catching a Scam in Headlights The Agency commented: “This firm is not authorized by us and is targeting people in…

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Brazilian Authorities Uncover Million Dollar Scam Involving Bitcoin

Category: Bitcoin, Finance, News, Regulation

Brazilian Authorities Uncover Million Dollar Scam Involving Bitcoin

Police authorities in Rio De Janeiro have uncovered financial irregularities to the tune of $13,625,901 in a food contract for prisons across the city. It is the first case in Brazil where analysis has indicated that the accused used bitcoin to siphon money instead of regular currency. Following the Digital Bread Crumbs The investigations began on March 13, 2018, and…

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