#scam

Finnish Bitcoin Scam Victim Withdraws Case against Thai Fraudsters

September 6, 2018 by Ogwu Osaemezu Emmanuel at Bitcoin, Crime, News, Regulation

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....

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

September 6, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Crime, Finance, News, Regulation

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...

Another Indian Bitcoin Scam Mastermind Arrested after Swindling Investors

August 30, 2018 by Cindy Huynh at Bitcoin, Crime, Finance, News, Regulation

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...

Busted: Indian Police Raids CoinX Trading Office, Unearth $1.43 Million MLM Scam

August 29, 2018 by Aisshwarya Tiwari at Bitcoin, Crime, News, Regulation

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...

Brains behind $2.4 Billion Bitcoin Ponzi Scheme Arrested in Delhi

August 20, 2018 by Priyeshu Garg at Altcoins, Business, Crime, Finance, News

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...

The SEC Slaps Scam ICO Organizer with $30,000 Penalty

August 17, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Business, Finance, ICO/IEO, News, Regulation

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...

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

August 13, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Investment, News, Regulation

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....

A Twitter Bird With Plate Metal Patchwork and Red eyes. A Twitter bot bearing the name Neonazi BTC Tracker tracks and monitors Bitcoin donations made to The Daily Stormer.

Security Researchers Discover Sophisticated Twitter Crypto Botnet

August 7, 2018 by Priyeshu Garg at Crime, News

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....

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

August 3, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Crime, News

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...

Swiss Financial Regulator Says ICO Tokens Will Count As Securities

FINMA Begins Proceedings into $100 Million ICO Envion

July 29, 2018 by Nigel Dollentas at Altcoins, Crime, Finance, ICO/IEO, News

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....

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