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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: scam

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 Complaint Withdrawn According to the report, Saarimaa, a Finnish investor…

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Belgium Cracks down on Cryptocurrency Scams by Adding 28 Websites to its Blacklist

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

Belgium Cracks down on Cryptocurrency Scams by Adding 28 Websites to its Blacklist

Belgium’s chief financial regulator, the Financial Services and Markets Authority (FSMA), has issued warnings about the spread of illegitimate crypto and blockchain platforms, adding 28 new websites to its blacklist on September 4, 2018. A Sea of Scammer Crypto Platforms As fraudulent cryptocurrency trading platforms continue to present problems for Belgian investors, the country’s financial regulator has issued several warnings…

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Another Indian Bitcoin Scam Mastermind Arrested after Swindling Investors

Category: Bitcoin, Crime, Finance, News, Regulation

Another Indian Bitcoin Scam Mastermind Arrested after Swindling Investors

According to The Indian Express, Amit Bhardwaj, the Bitcoin scam mastermind, threw expensive parties and investor summits in Dubai and Macau only to deceive his investors of their funds. Bitcoin Scammer Tricks Investors by Throwing Lavish Parties Three of the 16 investors who lodged a complaint with the Chandigarh Police stated that they were cheated of almost Rs15 Crore (approximately…

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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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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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Thailand: Police Crush Bitcoin Scam Worth Over $30 Million, Local Celebrities Involved

Category: Altcoins, Bitcoin, Investment, News, Regulation

Thailand: Police Crush Bitcoin Scam Worth Over $30 Million, Local Celebrities Involved

The Crime Suppression Division (CSD) of the Thai police have clamped down on a group of fraudsters who orchestrated a Bitcoin scam scheme that succeeded in swindling Aarmi Otava Saarimaa, a 22-year old Finnish national, of over 5,000 bitcoins, as first reported by the Bangkok Post on August 13, 2018. Smooth Crypto Criminal According to a Bangkok Post report, Aarni…

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Security Researchers Discover Sophisticated Twitter Crypto Botnet

Category: Crime, News

Security Researchers Discover Sophisticated Twitter Crypto Botnet

On August 6, 2018, two security researchers at Duo Security who were studying Twitter automation patterns, stumbled upon a vast network of Twitter bot accounts promoting crypto fraud. The sophisticated network was accidentally discovered while the researchers were looking into how to create a methodology for accurately identifying Twitter bots. Vitalik “Non-Giver of Ether” BTCManager has reported in the recent…

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Founders of Shinil Group Investigated by South Korean Police for Cryptocurrency Scam

Category: Altcoins, Crime, News

Founders of Shinil Group Investigated by South Korean Police for Cryptocurrency Scam

Korean law enforcement agents are now pointing their searchlight into the operations of Shinil Group, a firm that claimed to have found more than $100 billion worth of gold in a sunken Russian shipwreck. The firm then lured investors into buying its Shinil Gold Coin, promising them huge rewards in gold, as reported by sources close to the matter on…

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FINMA Begins Proceedings into $100 Million ICO Envion

Category: Altcoins, Crime, Finance, ICO News, News

FINMA Begins Proceedings into $100 Million ICO Envion

Swiss Financial Market Supervisory Authority FINMA released a press release on July 26, 2018, regarding investigations into Envion AG’s Initial Coin Offering (ICO). Proceedings Focused on ICO The proceedings are particularly interested in potential violations of Swiss banking laws, that stem from potentially unauthorized acceptance of deposits from the ICO. The offering raised around 100 million francs (~$100,000,000) from over…

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