Fraud Archives • Bitcoin Feed News

Cointelegraph / Disgruntled Employee Stole Bitcoin from Japanese Project Vipstarcoin

January 23, 2020 / cointelegraph

Two men have been arrested in Tokyo on suspicion of defrauding IT firm Vipstar Inc. from hundreds of thousands of dollars in Bitcoin (BTC), Mainichi reported on Jan. 23. One…

Cointelegraph / Blockvest Saved from Default Judgement in Fraud Case

January 23, 2020 / cointelegraph

Blockvest, which is currently embroiled in a dangerous lawsuit with the SEC, obtained a small victory in a similar case filed by an elderly couple. However, the Jan. 21 court…

News.Bitcoin / 6 Bankers Accused of Earning €30M in Bonuses From German Fraud, Tax Lawyer Out on €4M Bail

January 22, 2020 / newsbitcoin

Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is…

Cointelegraph / FCA’s New AML Regime – UK’s Crypto Market Will Have to Adapt in 2020

January 21, 2020 / cointelegraph

The Financial Conduct Authority (FCA) is now the United Kingdom’s sole Anti-Money Laundering (AML) authority for the crypto business. After a decade of compliance under a laissez-faire approach to AML…

Cointelegraph / Vinnik’s Children File a Complaint About Rights Violation to Greek Court

January 20, 2020 / cointelegraph

The lawyers for Alexander Vinnik, the alleged operator of defunct crypto exchange BTC-e, have filed a complaint alleging violation of Vinnik’s rights. Written on behalf of Vinnik’s young children, the…

Cointelegraph / Ugandan Victims of Dunamiscoins Scam Petition Gov’t for Lost Investments

January 17, 2020 / cointelegraph

Over 5,000 victims of the alleged cryptocurrency pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam. Arthur Asiimwe, the leader of the petitioning…

Coindesk / CabbageTech CEO Sentenced to 33 Months in Prison After Pleading Guilty in Fraud Case

January 16, 2020 / coindesk

Patrick McDonnell was sentenced to 33 months in federal prison Thursday after pleading guilty to charges of defrauding investors in his crypto trading firm CabbageTech, otherwise known as Coin Drop…

Cointelegraph / More Bitcoin Scam Ads With Martin Lewis on Instagram — Can We Get a Filter for That?

January 16, 2020 / cointelegraph

Suspected crypto con artists are once again using the likeness of British financial expert Martin Lewis to defraud unsuspecting victims. In 2019, Lewis settled a defamation suit against Facebook for similar…

Cointelegraph / Blockvest’s Defense Based on Falsified Documents, Claims SEC

January 14, 2020 / cointelegraph

The United States Securities and Exchange Commission have argued in a Jan. 10 filing that Blockvest founder Reginald Buddy Ringgold III falsified and, in one case, forged signatures in documents…

Cointelegraph / The Race to Lead 3 Class-Action Suits Against IFinex Over 2017 BTC Bull Run Is On

January 14, 2020 / cointelegraph

One legal team looks to lead the three ongoing suits against IFinex alleging that illegal conduct involving iFinex’s subsidiaries Tether and Bitfinex was behind Bitcoin’s (BTC) 2017 bull run. Per…

Cointelegraph / Directors of Alleged Crypto Pyramid Scheme Dunamiscoins Stand Trial

January 8, 2020 / cointelegraph

Two directors of Dunamiscoins, an alleged cryptocurrency pyramid scheme in Uganda, appeared before court on Monday to face 65 counts tied to obtaining money by false pretense. Local news site…

Cointelegraph / CFTC Cannot Locate Man Responsible for Over $140 Million Crypto Ponzi

January 7, 2020 / cointelegraph

The United States Commodity Futures Trading Commission (CFTC) is having trouble locating Benjamin Reynolds, who is allegedly responsible for a cryptocurrency Ponzi scheme worth over $140 million. Financial news outlet…

Cointelegraph / US SEC Settles in Long-Running Fraud Case Against Longfin CEO

January 6, 2020 / cointelegraph

The United States Securities and Exchange Commission (SEC) announced that it has agreed to a settlement with the CEO of purported cryptocurrency company Longfin in a statement, Jan. 3. Venkata…

Coindesk / Longfin CEO Reaches $400,000 Settlement With SEC Over Fraud Charges

January 3, 2020 / coindesk

The U.S. Securities and Exchange Commission (SEC) has reached a settlement with fintech firm Longfin’s CEO, Venkata S. Meenavalli, on charges of fraud. According to an SEC press release Friday,…

Cointelegraph / Friendly Fraud and the Failure of Chargeback Protections

January 2, 2020 / cointelegraph

Chargebacks were originally designed to protect consumers. Today, it’s ironic that merchants often need protection against this very system put in place to protect consumers. A chargeback is the return…

Cointelegraph / Privacy Coins in 2019: True Financial Freedom or a Criminal’s Delight?

January 2, 2020 / cointelegraph

The right to privacy is a fundamental prerequisite for peace of mind and security. The idea that only criminals have something to hide is strange. Contrarily, privacy is sought by…

Cointelegraph / Russia Is Unhappy About Greece Extraditing Money Launderer Vinnik to France

December 20, 2019 / cointelegraph

Alexander Vinnik, the alleged former operator of now-defunct crypto exchange BTC-e, will be extradited to France, according to a new decision from Greece. Following years of disagreement on what jurisdiction…

Cointelegraph / Thailand Integrates Blockchain to E-Visa System for Higher Security

December 19, 2019 / cointelegraph

Thailand, one of the most-visited countries in the world, will soon apply blockchain to its Electronic Visa On Arrival (eVOA). Thailand’s new blockchain-powered eVOA system intends to speed up and…

Bitcoinist / HitBTC Is “Longest-Running” Fraud, Investigator Claims

December 18, 2019 / bitcoinist

Richard Sanders, a lead investigator at CipherBlade, claims that HitBTC is the “longest-running and potentially largest scale criminally fraudulent entity” in the crypto space. HitBTC Might Be Insolvent, Sanders Says…

Cointelegraph / HitBTC Scammers Face Two Years in Jail for $140K Bitcoin Twitter Fraud

December 17, 2019 / cointelegraph

Two Canadian men who defrauded a Bitcoin (BTC) investor out of $140,000 by impersonating exchange HitBTC may serve two years in prison. According to court records on Dec. 16, brothers…

Cointelegraph / New York AG Finds It ‘Perverse’ For Bitfinex and Tether to Criticize Investigation

December 14, 2019 / cointelegraph

In a filing with the New York State Supreme Court’s Appellate Division, New York Attorney General Letitia James roundly criticized the efforts of Bitfinex and Tether to halt her office’s…

Cointelegraph / Shopin Founder Pleads Guilty to Orchestrating Fraudulent $42 Million ICO

December 12, 2019 / cointelegraph

The New York Attorney General (NYAG) Letitia James announced the conviction of Shopin founder Eran Eyal for orchestrating a fraudulent initial coin offering (ICO) following his guilty plea. As the…

Cointelegraph / US SEC Charges Shopin Founder With Orchestrating Fraudulent $42 Million ICO

December 12, 2019 / cointelegraph

The United States Securities and Exchange Commission (SEC) has charged Eran Eyal, the founder Shopin, with orchestrating a fraudulent initial coin offering (ICO). In a press release on Dec. 11, the…

Coindesk / SEC Charges Shopin CEO With Fraud Over Unregistered $42M ICO

December 11, 2019 / coindesk

The SEC is also charging Eyal with failing to register the Shopin token sale as a securities sale, and is looking for a permanent injunction, disgorgement, civil penalties, to permanently…

News.Bitcoin / The State Encourages ICO Fraud. The Free Market Minimizes It

December 11, 2019 / newsbitcoin

Many Initial Coin Offerings (ICOs) have been and are frauds. The state enables this con game in various ways, including the establishment of accredited investors and the regulation of businesses…

Cointelegraph / Three Men Arrested for Running Alleged $722 Million Crypto Ponzi Scheme

December 11, 2019 / cointelegraph

United States authorities in New Jersey have announced the arrest of three men who are accused of defrauding investors of over $722 million as part of alleged crypto ponzie scheme…

Cointelegraph / Ugandan Police Hold Director of Alleged $2.7M Crypto Ponzi Scheme

December 10, 2019 / cointelegraph

Ugandan police have seized Samson Lwanga, one of the directors of the alleged cryptocurrency pyramid scheme Dunamiscoins Resources Limited. As domestic news publication Daily Monitor reported on Dec. 9, the…

Cointelegraph / Crypto Pyramid Scheme in Uganda Steals Employees’ Money and Closes

December 6, 2019 / cointelegraph

An alleged cryptocurrency pyramid scheme in Uganda has fled after defrauding dozens of victims that invested in and worked for the scheme. Dunamiscoins Resources Limited opened in Masaka last month…

Cointelegraph / PlusToken Effect: Alleged Asian Exit Scam to Blame for Market Decline?

December 3, 2019 / cointelegraph

In the last week of November, the saga of an alleged crypto Ponzi scheme that has been lingering for more than half a year took a new turn. A hobbyist…

Cointelegraph / Criminal Activity in Crypto: The Fact, the Fiction and the Context

November 30, 2019 / cointelegraph

It’s the clichéd rhetoric of choice for anyone seeking to discredit crypto. An ace in the hole for any argument against its proliferation. The go-to thesis for those who know…

Cointelegraph / Study: Blockchain Can Reduce Food Fraud By $31 Billion Within 5 Years

November 30, 2019 / cointelegraph

The food industry could save up to $31 billion in global fraud savings by tracking food on its way from farms to consumers via the blockchain. A Nov. 25 study…

Cointelegraph / Disgruntled Investor Sues Stox Prediction Market and Founder

November 29, 2019 / cointelegraph

Israeli crypto entrepreneur Moshe Hogeg and his blockchain firm Stox (STX) are facing a lawsuit from a disgruntled investor in the United States. A Vancouver-based investor has accused Hogeg of…

Cointelegraph / Report: Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019

November 27, 2019 / cointelegraph

In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to CipherTrace’s report for the third quarter of 2019. In its “Cryptocurrency Anti-Money…

Cointelegraph / 89% of Chinese Blockchain Firms Have Tried to Issue Crypto: Report

November 25, 2019 / cointelegraph

89% of China’s blockchain firms have allegedly tried to create their own cryptocurrency, according to a senior exec at a local blockchain association. According to the state-run CCTV on Nov.…

Cointelegraph / New York Judge Grants US Government Right to Intervene in $7M Bitcoin Fraud Case

November 20, 2019 / cointelegraph

The New York Southern District Court has ruled in favor of the United States government to intervene in a civil case against Jon Barry Thompson, who is alleged of a…

Cointelegraph / Dutch Soccer Assn. Trials Blockchain App at EU Championship Qualifying Match

November 20, 2019 / cointelegraph

The Royal Dutch Football Association (KNVB) trialed a new blockchain-based ticketing app during yesterday’s Netherlands-Estonia European Championship qualifying match. The news was reported by Ajax Life, a fanzine associated with…

Bitcoinist / Brooklyn ICO Scammer Jailed for 1.5 Years

November 19, 2019 / bitcoinist

Maksim Zaslavskiy, who ran two fraudulent ICO projects, received a year and a half-long prison sentence this Monday which made his case one of the first ones to apply federal…

Cointelegraph / U.S. Gov’t Extradites Alleged Fraudster for Selling Fake Securities for $11 M in BTC

November 19, 2019 / cointelegraph

The United States has extradited a Swedish national from Thailand for allegedly selling fraudulent securities to investors online, garnering over $11 million worth of Bitcoin (BTC). Per a press release…

Cointelegraph / Two US Men Arrested For Stealing Social Media Accounts and Crypto via SIM Swapping

November 14, 2019 / cointelegraph

The United States Department of Justice has arrested and charged two Massachusetts men for allegedly taking over victims’ social media accounts and stealing cryptocurrency. According to the announcement on Nov.…

Cointelegraph / OneCoin Co-Founder Pleads Guilty, Faces up to 90 Years in Jail

November 14, 2019 / cointelegraph

Konstantin Ignatov, co-founder of alleged crypto scam OneCoin, has pleaded guilty to participation in the multi-billion dollar fraud. According to a BBC report on Nov. 14, Ignatov signed a plea…