The FBI said: Fraudsters are leveraging increased fear and uncertainty during the COVID-19 pandemic to steal your money and launder it through the complex cryptocurrency ecosystem. FBI agents believe the scammers will tailor their pitch to the current situation and be looking for donations for remote workers via email, safety equipment sellers, not going through…
Read more
It’s worth bearing in mind that no one is really using crypto-assets, so anyone collecting money for charity in Bitcoin or any other crypto-asset is firstly narrowing the market of people who could donate, and secondly putting its collections at risk of a dramatic drop in value such as mentioned above. And that’s treating it at…
Read more
INTERPOL Secretary General Jürgen Stock commented: Criminals are exploiting the fear and uncertainty created by COVID-19 to prey on innocent citizens who are only looking to protect their health and that of their loved ones. Steven Yang, marketing director at AnChain.AI, noted that some of the scams are being facilitated by cryptocurrency. His company has…
Read more
Crypto market analyst with more than 63,000 followers was accused for photoshopping screenshots to create the impression of more successful trade than reality. Twitter user with the alias “King” posted screenshots on 14 March that allegedly expose that crypto analyst Jacob Canfield has manipulated images of his trade performance to mislead his followers. In response…
Read more
The Swedish Minister of Foreign Affairs Ann Linde has urged Ukraine to take action against the alleged cryptocurrency fraud operation targeting vulnerable inexperienced investors in Sweden, Australia, New Zealand and UK. Swedish national newspaper Dagens Nyheter (DN) exposed the so-called “fraud factory”, operating from Kyiev after investigation. Ukraine-based Milton Group allegedly defrauded investors by offering…
Read more
Coinbase has recently settled a class-action lawsuit that was filed against the exchange by the victims of the now-extinct cryptocurrency exchange Cryptsy for nearly $1 million. The settlement between the Cryptsy victims and Coinbase was reached in December 2019. The exact amount of the settlement is $962,500 and it will be transferred to an escrow account.…
Read more
After years of chasing the founder of the largest Ponzi scheme in the crypto world, Ruja Ignatova, her brother, Konstantin Ignatov finally pleaded guilty for committing fraud and money laundering. Not only did he admit these crimes, but he also accused the founder of a racehorse fund of stealing $110 million from the Ponzi scheme.…
Read more
The United Nations continues to investigate and reveal its findings that allege that North Korea has been the instigator behind significant fraud activity in the cryptocurrency world. There had been several reports from cyber security firms that also pointed to North Korea as the culprit in several cyber compromises of crypto exchanges over the past…
Read more
Victims of the Mt. Gox debacle have become accustomed to delays, but as we reported last April, there were hints that a “rehabilitation plan”, as it is called, was in the process of finalization. Payments would surely commence sometime within this year. The trustee, unfortunately, could not comply by the October 31 deadline date and…
Read more
The largest Ponzi scheme in the crypto world, as Leaprate reported not long ago, is OneCoin. While there are many fake ICOs, OneCoin stands out as the largest one - defrauding the global economy of approximately $4 billion in under 5 years. While the founder, Ruja Ignatova, and her brother are the main "heroes" of…
Read more