Category: scam

Online marketplace Trustify Inc. and its founder charged in $18.5 million fraud
March 25, 2021 BY Steffy Bogdanova

Influencer “Jay Mazini” indicted on wire fraud 

In January 2021, Igbara started to post videos offering to buy Bitcoin from his followers for prices around 3.5% to 5% above market value, justifying his generous offering by claiming that standard Bitcoin exchanges had limited the amount of the cryptocurrency he was able to purchase. To reassure victims of their transaction legitimacy, Igbara would…

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CFTC
January 27, 2021 BY Steffy Bogdanova

CFTC files charges New York man in a multi-million dollar Bitcoin and Ether Ponzi Scheme

He allegedly engaged in various efforts to conceal his misconduct – he misrepresenting his trading profitability and the amount of assets he had under management, misappropriated customer funds, and issuing false performance statements. The complaint stated that Spence eventually admitted to his customers that he had engaged in “lies and deceit.” Acting Director of Enforcement…

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ASIC warns against entities
January 22, 2021 BY Steffy Bogdanova

ASIC raises crypto scam alert against Alliance Limited

Consumers have alerted the Australian watchdog that they have been unable to get their money back after investing through this entity. ASIC stated that it is “particularly concerned” about the risk this poses to consumers and investors to lose money when buying into fake crypto-assets. The regulator warned that cryptocurrency investment scams are on the…

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Online marketplace Trustify Inc. and its founder charged in $18.5 million fraud
December 29, 2020 BY Steffy Bogdanova

Stefan Qin and Virgil Capital face SEC fraud charges over crypto fund

Since July 2020, Qin and Virgil Capital have told investors who requested redemptions from the Sigma Fund, that their interests would be transferred to VQR Multistrategy Fund LP, another fund under the control of Qin but with separate management and operations. The regulator’s complaint alleges that no funds were transferred and the redemption requests remain…

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CFTC
September 15, 2020 BY Steffy Bogdanova

CFTC charges 4 men with Bitcoin fraud

The defendants also mislead customers that their earnings would increase based on the amount of their deposits. The clients were also falsely promised a bonus for referring others, in the form of a multi-level marketing scheme. The defendants caused misleading trading statements to be posted online to conceal their fraud. The CFTC stated that the…

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Major Twitter hack hits US politicians, celebrities and companies as part of a bitcoin scam
July 17, 2020 BY Steffy Bogdanova

Major Twitter attack hits US politicians, celebrities and companies as part of a bitcoin scam

CEO Jack Dorsey tweeted on Wednesday: Tough day for us at Twitter. We all feel terrible this happened. We're diagnosing and will share everything we can when we have a more complete understanding of exactly what happened. Twitter took steps to verify accounts and blocked users from tweeting bitcoin wallet addresses temporarily. CryptoForHealth.com website was…

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